06-11-2005, 01:19 PM | #1 (permalink) | |
Psycho
Location: somewhere
|
debt write off
link
and for the clicking impared: Quote:
__________________
~my karma ran over my dogma.~ |
|
06-11-2005, 04:13 PM | #3 (permalink) | |
The sky calls to us ...
Super Moderator
Location: CT
|
Quote:
|
|
06-11-2005, 04:13 PM | #4 (permalink) |
Addict
Location: Amish-land, PA
|
How about we keep this post here....no one will ever see it in the Politics forum...
Anyway, this very well may have little to do with the other nations caring about the African nations. Debt relief for Africa will eventually lead to a better world economic climate. To put it simply, if more nations become developed, there will be more consumers for international trade. The World Bank (whose sole purpose is to aid development) wants to try to save these people to boost the world economy in the future. If anyone wants to read more into this topic, I have a very long term paper that I can send you.
__________________
"I've made only one mistake in my life. But I made it over and over and over. That was saying 'yes' when I meant 'no'. Forgive me." Last edited by TM875; 06-11-2005 at 04:16 PM.. |
06-11-2005, 04:50 PM | #5 (permalink) |
Insane
Location: Auckland
|
there will always be ulterior motives that can be seen, but we don't know if they are the "major" factor. sure they would have considered that but im not too sure if thats the only reason they did this. Also writing stuff off as bad debts can be a good thing on its own. with insurance to cover those things.
Maybe however, they wanted to be kind. Help the little guy out. sure its not likely but you never know. Now its up to the developing countries what to do with the extra $2bn a year. they are forced to spend it on infrastucture, which is good. They can avoid becoming consumerist if they want to. The key is that they need to want to. IF they want to become consumerist, well thats their own choice and you cant blame the developed world for that.
__________________
I am Hanabal, Phear my elephants |
06-11-2005, 10:18 PM | #6 (permalink) |
All important elusive independent swing voter...
Location: People's Republic of KKKalifornia
|
In theory, I love it, I think it's really good, in the spirit of humanity and stuff.
My main concern is, the countries mentioned have really corrupt governments (as far as I know). I wonder what difference it will really make. For example, with the debt burde lifted, will govts. then be free to borrow money to spend on infrastructure, capital improvements, business, tech etc, or will it just go into the pockets of corrupt officials? Will any of this "trickle" down to the people? |
06-12-2005, 11:41 AM | #8 (permalink) |
Easy Rider
Location: Moscow on the Ohio
|
This kind of thinking (forgiving of debt) could catch on if it is a good thing. I wonder what the result would be if our government forgave the debt of all of our poorest citizens and gave them a fresh start. Better yet maybe also declare our national debt paid in full and let our government start with a clean slate and begin to act responsibly.
|
06-12-2005, 05:32 PM | #9 (permalink) | ||
Cunning Runt
Location: Taking a mulligan
|
Quote:
Quote:
The national debt is also money borrowed from government trust funds such as Medicare, the Highway Trust Fund and the Federal Employees Retirement System. I'm not sure that bankrupting SS, Medicare, state and local governments, mutual funds, individuals, etc. would be deemed "responsible." |
||
06-13-2005, 06:01 AM | #10 (permalink) | |
Easy Rider
Location: Moscow on the Ohio
|
Quote:
I really have no idea how this debt business works. Is 7 trillion too much?, 14 trillion?, 28 trillion? If we can forgive other countries who owe the US money, why can't we forgive our own citizens as well? At what point does our currency become worthless? Apparently the goal of our government is to pass on the debt to the next generation and so on. This will work just great if no one ever has to pay it off. |
|
06-13-2005, 07:41 AM | #11 (permalink) |
Guest
|
Two points:
Personal debt is 'cleared off' when a person files for bankrupcy. All their assets are given to and distributed among their creditors by a legally appointed liquidator. The payment of these national debts is being made by the G8 in return for the opening up of the African states' tading markets. This could cause further problems because the local workforce may find it difficult competing with their more developed contemporaries around the world. At the same time, it will force development of greater infrastructure, intra-country markets and other efficiency developments. As for alterior motives, I see this as a huge opportunity for the west to improve its own security and to open up new markets for western goods. Trade is the most developing activity a country can involve itself in, and giving this ability back to these nations benefits everybody in my view. |
Tags |
debt, write |
|
|