New Clear Vision

constructive commentary for the chronically farsighted

Time for Jubilee

August 22, 2011 By: NCVeditor Category: Culture, Economy, Family, Politics, Randall Amster

Let’s Forgive, Forget, and Find Some Genuine Relief for a Change

by Randall Amster

If we’re truly looking for paths toward managing debt and promoting economic stimulus — which is about stimulating optimism as much as anything else — then we ought to consider getting closer to the source and stop nibbling around the edges of governmental machinations and corporate malfeasance. Instead, let’s directly incentivize and bring relief to actual people, giving them a new start by wiping the ledgers clean and ensuring that their future decisions will never again have to be governed by the demons of debt. For the price of two massive bank bailouts, and in the face of an austerity regime that mostly punishes working people, we could essentially “bail out” every American from under a mounting pile of indebtedness. (more…)