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Lambert Strether

letsgetitdone's picture

Envisioning A Debt Jubilee

A couple of days ago, my friend, Lambert Strether, raised this question about transitioning to a Modern Monetary Theory-based approach to fiscal policy in the United States:

“Could a "debt jubilee" be a useful demand in a transition to MMT? I think it would certainly have broad appeal. Moreover, it's Biblically based!”

Perhaps a “debt jubilee” would have broad appeal, and I guess a biblical framing for it may not hurt, but I think its reception depends on the details.

1) If the Government takes the big banks into resolution and then:

2) takes big write-downs on mortgage principal;

bringiton's picture

Future News: Lost Tribe Of Hillary Holdouts Discovered

CNN-FOX-ABC-NBC-CBS-AP-UPI-Reuters-New York Times-Washington Post-Murdoch Syndicate Exclusive
by Katharine Q. Seelye and Julie Bosman. June 2, 2020 - BREAKING NEWS -

The first contact in several years with remnants of a holdout band of Hillary Clinton supporters took place yesterday, with a helicopter flyover identifying the handful of survivors. Unwilling to concede that the 2008 Democratic presidential primary had been fairly conducted, the hardy but dwindling tribe became increasingly isolated during the Obama/Hagel administrations, eschewing television and rumored to be surviving only on home-grown vegetables and the occasional squirrel. Read more about Future News: Lost Tribe Of Hillary Holdouts Discovered

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