America does indeed need a ‘debt resettlement’ plan to extract itself from its ever-deepening credit hole. There are, however, proper ways to do this, and there are ineffectual ways…
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Paul Craig Roberts: America Needs A Debt Jubilee
ZeroHedge, May 7, 2019 – Excerpts:
In America today the population is drowning in unpayable debts—student loan debt, credit card debt, home mortgage debt, state and local government debt, and business debt—but policymakers have reserved forgiveness only for the debt associated with the bad and irresponsible investments of the big banks and financial institutions. The Federal Reserve printed $4 trillion to buy up the banks’ bad debt while permitting ten million homeowners to be foreclosed. Student loan debt prevents university graduates from forming independent households. Mortgage and credit card debt prevents households from having discretionary income with which to drive retail sales. But modern day economics has no prescription for preventing our society from failing from debt overload
The problems of monopoly, monopsony, oligopoly are real. Especially so when indebted Americans have their high productivity, high value-added jobs off-shored and then face robotics displacing the lower paid domestic service jobs that are their current employment. The profit maximizing activities of corporations reduce Americans’ incomes but not their debts. Thus, debt service becomes more difficult.
In the US today we have a situation in which the New York banks control Federal Reserve policy and financial legislation—the deregulation of the banking system and its subsequent bailout, for example. We have a situation in which monopolies, monopsonies, and oligopolies are stronger than the central government, which is unable to rein them in or act against them in any way. Corporations dispossess citizens of their jobs by offshoring the jobs. Creditor demands prevent university graduates from forming households. Debt service preempts retail demand except by further debt expansion.
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America must ‘untangle’ itself from these life-draining tentacles of debt in the cleanest, most effective way possible.
The Leviticus 25 Plan is a comprehensive economic acceleration plan featuring a powerful debt resettlement foundation which accomplishes a wide range of highly desirable outcomes with long-ranging benefits.
The Leviticus 25 Plan is not a wealth redistribution plan and it is not ‘means-tested.’ Each and every U.S. may participate – under the same terms.
The Plan restores citizen-driven economics and and citizen-centered health care. It reduces the scope of government control over the daily affairs of citizens and reduces dependence on government for the basic necessities of daily life.
The Plan generates immediate $465 billion budget surpluses for the federal government – and pays for itself entirely over a 10-15 year period. It generates enormous tax revenue gains and cost-savings for state and local economies.
It re-establishes free-market dynamics in the economy, re-incentivizes work, and improves productivity across the board.
The Leviticus 25 Plan strengthens the financial health of American families. It restores economic liberty for all.
The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens. It is a comprehensive plan with long-term economic and social benefits for citizens and government.
The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.
The Leviticus 25 Plan – An Economic Acceleration Plan for America
$75,000 per U.S. citizen – Leviticus 25 Plan 2020 (3286 downloads)
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