[AGL] test

[Frances Morey]

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.
>
>
>
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