Cause And Effect   
  1  →  2021-01-02 21:07 Europe/Stockholm

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Is it time for a debt jubilee?
Steve Keen and Michael Hudson have both been arguing for a debt jubilee for some time. Now, as COVID-19 hits the poorest hardest, and leaves those with money better off than before, is this the right time to write off debt? Can the economy recover without it? After all, its stagnated since the 2008 global financial crisis. If you were to have a debt jubilee, how would you do it. Steve and Michael have different ideas about how it should be implemented. They explain their thinking to Phil Dobbie on this week’s free edition of the Debunking Economics podcast.

".. so many retail chains that are disappearing now, there's not gong to be many left and being put up for fire sales. So they've accrued massive debts, those debts are going to have to be written off, the business gets sold off at  at a very, very low rate or zero. Someone else comes along, isn't carrying that that debt burden, can undercut its competition. 'cause it's set up for a song."

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