tag:blogger.com,1999:blog-4411161795798360588.post3717919908437782820..comments2024-03-26T09:38:39.888+00:00Comments on Borthlas: Have Lib Dems accidentally stumbled onto a good idea?John Dixonhttp://www.blogger.com/profile/07447224248021209852noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-4411161795798360588.post-34594197168444802022021-05-04T20:23:28.482+01:002021-05-04T20:23:28.482+01:00I guess old Hammurabi was the first guy to use a k...I guess old Hammurabi was the first guy to use a kind of quantitative easing,one off credit to remove debt, although much more radical in that it benefitted the less well off rather than inflating the assets of those already rich. Who was his Chancellor ?dafishttps://www.blogger.com/profile/04216920242825385976noreply@blogger.comtag:blogger.com,1999:blog-4411161795798360588.post-34481136300881946492021-05-04T18:25:45.998+01:002021-05-04T18:25:45.998+01:00Dafis,
I agree with most of what you say here, p...Dafis,<br /><br />I agree with most of what you say here, particularly the point that a one-off debt cancellation can never be more than a temporary solution to the underlying inequality which results from a consumerist society in which many are working at below what might be considered to be a reasonable living wage. But we should not underestimate the impact even a temporary alleviation of debt could have for many; at the least it buys time to develop and implement other policies, incuding UBI.<br /><br /><i>"I am left to conclude that LibDems have found an attractive soundbite and are using it knowing they aren't likely to be in a place on Friday where they will need to make it work."</i> You may well be right; I found it hard to believe that they had suddenly recongised the extent of the debt problem for the poorest caused by late stage capitalism. But, hey, if a policy does no more than provide a temporary relief for those hardest hit by the economic system, it's still worth considering. And, as Hammurabi found, it can always be repeated...John Dixonhttps://www.blogger.com/profile/07447224248021209852noreply@blogger.comtag:blogger.com,1999:blog-4411161795798360588.post-56950357205096240612021-05-04T14:32:22.450+01:002021-05-04T14:32:22.450+01:00Maybe the Lib Dems are constrained by an unwilling...Maybe the Lib Dems are constrained by an unwillingness to wipe out an unlimited amount of debt. In any case wiping out debt alone is unlikely to achieve much as people on unmanagable low levels of income will go back into debt p.d.q unless they opt out of clothing their kids, eating, keeping a roof over their heads, keeping warm,etc etc.<br /><br /> This is likely to be an eternal problem if modern consumerist society continues as it is now. Those who can't afford it still aspire to obtain the latest TV, latest tech/phone, fashion clothing. Tech based marketing stimulates demand for these things which are often funded by - debt ! <br /><br />In tandem with any kind of debt write off there needs to be a move towards UBI or something similar. But, that alone will not underwrite the staggering levels of "must have" purchases that happen daily. So who will educate the masses to shun the craving for the goodies which are often a massive disappointment after they are acquired ? That has to be part of the problem and hence the solution. Eliminate the pressures of instant gratification.<br /><br />I am left to conclude that LibDems have found an attractive soundbite and are using it knowing they aren't likely to be in a place on Friday where they will need to make it work. dafishttps://www.blogger.com/profile/04216920242825385976noreply@blogger.com