The Boston Consulting Group released a report in called Back To Mesopotamia: The Looming Threat of Debt Restructuring, in which it warned of the risk of. Rhodes, D. and Stelter, D. () Back to Mesopotamia? The looming threat of debt restructuring, Boston: Boston Consulting Group. Sahlins, M. () Waiting. Rhodes David/Stelter Daniel (): Collateral Damage: Back to Mesopotamia? The Looming Threat of Debt Restructuring, BCG publications. Russel, Bertrand.

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The protest calls go global. Leviticus 25 contains most of the instructions on property rights and debt, as given by God.

The British Government claims that, to maintain the confidence of Treasury bond investors, they need to apply austerity measures to reduce the costs of the public sector and the amount of loans bonds — and interest costs — required to finance it because of shortfalls in tax receipts. Notify me of new posts via email.

During the Eurozone crises interest rates have shot teh lot higher than that as fearful investors shunned retsructuring bonds of Greece, Spain, Portugal and Ireland. To maintain social order and political stability — and, ultimately, protect the long-term sustainability of economic life and commerce — by preventing credit systems from degenerating into the enslavement of debtors by their creditors.


What is its purpose? The current Bank Of England interest rate is now at its lowest ever at 0.

You are commenting using your Facebook account. He articulates the two contradictory forces battling in the debt black hole we face: Leave a Reply Cancel reply Enter your comment here How do you reconcile the competing forces of insufficient growth and too much debt?

Notify me of new comments via email. MoneyWeek Magazine, January 6 th How did it work in practice? Sorry, your blog cannot share posts by email. In the Jewish and Christian traditions, a Jubilee dbt a special year marked by a forgiveness of sins, remission of debts and a universal pardon.

You are commenting using your WordPress. The Depression wiped out not just wealth but also debt. The UK would be left with by far the largest debt.

Second is the moral hazard argument. Is the debt crisis going to become the battleground for another form of class war between debtors and creditors, between those suffering from the servitude of debt and those who profit from it?

And to heavily borrowed businesses, investment banks and hedge funds? Published Articles Share this: Debt cancellation must be part of a restructuring the financial system.

Interest earned from debt creation has been very profitable for the centres of wealth — bondholders and bankers.

Funny thing is – this is likely just a test run. BCG wrote the scenario up back | Hacker News

A surprisingly broad range of people in the US. Graeber is a staunch supporter of the Occupy Wall Street movement.


Writing off debts encourages future recklessness. Chief among them is the Australian economist Steve Keen. A revelatory read from the belly of the beast. Fill in your details below or click an icon to log in: The key to averting a second Great Depression now is to slash private debt through a unilateral write-off of irresponsible loans made by banks. John Mauldin is an eclectic financial commentator with very good connections in the financial world and a large online following.


A debt Jubilee is in this sense a recognition that economic life must be socially rooted if it is to be sustainable: But there are also plenty of more orthodox voices who support the idea of massive debt relief as the only route out of a financial crisis and economic depression caused by excessive debt. Post was not sent – check your email addresses! MoneyWeek Magazine, January 6th If Britain goes bust the world goes bust.

Governments have the power to write off tp as has happened throughout history.