[Sherman Logan]

The problem is that every debt is someone else’s asset.

So wiping out all debt would result in a great many of the proponents losing their own assets. Not to mention crashing the entire world’s economic system.

What people really want is to wipe out their own debts while maintaining their own assets which are someone else’s debt.

Ain’t gonna happen.

Anywho, Iceland is a miniscule portion of the world economy. It can do whatever it likes without affecting the rest of us. If the USA were to do something similar, it drastically affects the entire world.

[Moonman62]

The problem is that every debt is someone else’s asset. So wiping out all debt would result in a great many of the proponents losing their own assets. Not to mention crashing the entire world’s economic system.

Accounting is funny that way.

[FreedomPoster]

>>What people really want is to wipe out their own debts while maintaining their own assets which are someone else’s debt.

Worth saying again. Only perhaps “leftist people” would make it more accurate.