[AGL] test

[Charles Loving]

Nothing will change.

On Tue, May 12, 2020 at 1:18 PM Frances Morey <frances.morey at gmail.com>
wrote:

> OMG, it is complicated by concerns for shareholders, not just stakeholders.
> Best,
> Frances
>
> On Tue, May 12, 2020 at 12:11 PM Michael Eisenstadt <eisenstadt0 at gmail.com>
> wrote:
>
>> On 5/12/2020 7:14 AM, Charles Loving wrote:
>> > .
>> >
>> https://www.washingtonpost.com/opinions/2020/03/21/debt-jubilee-is-only-way-avoid-depression/
>>
>> Michael Hudson argues for what should be done, a jubilee year forgiving
>> bondsmen's debts. A powerful king before the rise of capitalism as we
>> know it could declare it. But nowadays is more complicated. 85% of car
>> purchases in the US are financed. So those long lines of late-model cars
>> with nary a dent, picking up bags of free food, no jalopies among them,
>> were driven by regular Americans in cars that they don't have title to.
>> Banks own the paper. But a goodly percentage of the middle-class owns
>> the bank's paper. Voiding the value of those folks' 401 and other wealth
>> would lead to civil war, literally.
>>
>>
>>

-- 
Charlie Loving
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