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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John Mauldin is an eclectic financial commentator with very good connections in the financial world and a large online following. Post was not sent – check your email addresses!


Who wants a Jubilee now? Otherwise debt servitude will come to a violent denouement. Mesopotamka off debts encourages future recklessness. How do you reconcile the competing forces of insufficient growth and too much debt?

What is its purpose? This austerity has shrunk economies and made countries less able to pay debts. Interest rates would have to rise heavily to attract bond investors back into buying British Treasury bonds, which they would see as highly risky investments that might go bust.

So why not now? He articulates the two contradictory forces battling in the debt black hole we face: You are commenting using your WordPress. All attempts to eliminate the debt have failed. A revelatory read from the belly of the beast. 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?


European sovereign debt — everybody owes everybody, so what might happen if everybody agrees to write-off what they owe each other? MoneyWeek Magazine, January 6 th In other words, any write-offs big enough to alter consumer behaviour would probably also be big enough to destabilise or even sink the banks. Leviticus 25 contains most of the instructions on property rights and debt, as given by God.

Second is the moral hazard argument.

Reetructuring earned from debt creation has been very profitable for the centres of wealth — bondholders and bankers. In the Jewish and Christian traditions, a Jubilee is a special year marked by a forgiveness of sins, remission of debts and a universal pardon.

MoneyWeek Magazine, January 6th Fill in your details below or click an icon to log in: Sorry, your blog cannot share posts mesopotamiz email. The Depression wiped out not just wealth but also debt. They point to the debt deal made with Germany in which meant western Europe was reconstructed successfully and thrived. What does he say now?

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

Published Articles Share this: It posits that attempts to reduce the value of the debt by inducing inflation through Quantitative Easing etc have failed. Email required Address never made public. A debt Jubilee is in this sense a recognition that economic life must be socially rooted if it is to be sustainable: Leave a Reply Cancel reply Enter your comment here If Britain goes bust the world goes bust. A surprisingly broad range of people in the US.

If the bond market perceived that the US was clearly committed to a balanced budget, rates would remain low, the dollar would be stronger, and we would restructurjng away from the debt black hole. And to heavily t businesses, investment banks and hedge funds? The protest calls go global. The First 5, Years, David Graeberan anthropologist who writes entertainingly of debt ceilings, subprime mortgages and credit default swaps as if they were the exotic practices of a decadent tribe on the edge of self-destruction, notes how the first act of many successful rebellions was to scrap debts and start again hack zero.


How did it go in practice?

The UK would be left with by far the largest debt. Notify me of new comments via email. You are commenting using your Facebook account. During the Eurozone crises restructurng rates have shot a lot higher than that as fearful investors shunned the 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.

In his recent book Debt: Graeber is a staunch supporter of the Occupy Wall Street movement.

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.