Posted on 04/29/2020 4:30:34 PM PDT by dynachrome
In Ancient Greece around 600 BC the commoners had fallen into heavy debt.
First they mortgaged their land, and delivered the majority of their crops to the lender.
But after a bad harvest, the farmers needed to borrow more in order to afford another planting.
With nothing left they used their freedom, and the freedom of their family as collateral.
Many were sold into debt slavery after defaulting on this second loan.
That’s when a poor aristocrat, Solon, was elected ruler by appealing to both the landowners and the heavily indebted commoners.
He canceled the commoners’ debts and ended debt slavery.
The commoners were free of their debts and servitude. But they still needed to eat.
Suddenly they had no one to loan them money to plant crops. And the wealthy didn’t have the labor to make full use of their farmland.
Greece was hit with food shortages. Any resources the commoners may have saved on their debts had to be poured back into feeding their hungry family.
(Excerpt) Read more at thedailybell.com ...
And the law would be retroactive, so they’d go back in time to March 13 to cancel rent.
The government would then set up a fund for landlords and mortgage holders “allowing them to recoup their losses, so long as they agree to abide by a set of fair renting and lending practices for a period of five years.”
Some of those conditions include not raising the rent for five years, and not denying renters based on credit history, or criminal record.
This is insane."
It is beginning.
It all falling apart so fast.
What about credit scores?
The problem was created by the government and their solution is worse than the problem they created.
Remember NINJA loans? No income,no job?
Hey...why doesn’t the heat work? Hey, where is the hot water? Hey, why does the roof leak? Hey, why are there squatters living next door...
“solution is worse than the problem”
The economy is toast if we do not re-open soon.
But everything else (especially taxes) will go up - that's fair (rolling eyes).
Don’t be such a worry-wart.
It worked in Venezuela.
evera tings freee
“not raising the rent for five years”
A 5 year plan? Where have I heard that before? hmmmm...
I said several weeks ago...”this is Cloward-Piven on steroids”
It’s also known as fascism.
Not raise rent for 5 years?
That would be a foolish bet in the best of times.
With the extravagant Free Spending that the government has been doing for the last two decades inflation can not be far in the future. Possibly hyperinflation.
Yep.
It’s not insane.
If you make debt money, divorcing the medium of exchange function from the store of value function. things will get out of hand - as they have.
You can either have a Biblical jubilee year, OR you can have a nation of debt slaves.
It’s really an easy choice. FDR cancelled gold contracts with the stroke of a pen. Trump can cancel mortgages, credit card debt, and student loans just as easily.
Watch your property tax bill, even if the value of said property has dropped.
> What about credit scores? <
I took a quick look at the proposed bill. Landlords would be prohibited from reporting any missed payments to the credit agencies.
By the way, this bill is being sponsored by our good friend Representative Ilhan Omar. There is nothing in the bill about killing infidels, so I suppose we should be grateful for that.
I lost about 40% of my home’s value back in the S&L crisis.
My taxes are almost back to where they were because of all of the Fed mandated add-ons like the Storm Water Run Off taxes.
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