Who here wants the G8 to write off their debt, too?

Inkara1

Inkara1

Well-Known Member
The world's richest countries agreed Saturday on a historic deal to write off more than $40 billion of debt owed by the poorest nations. The debt relief package backed by finance ministers from the Group of Eight industrialized nations is part of a British-led effort to lift Africa out of poverty.
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I mean, I guess it's good to help out nations that can't help themselves... but there's something that bothers me about just writing off billions of dollars in debt and pretending like there's no longer any obligation. Sure, these nations have to undergo reforms and stuff... but maybe I'm just a little less trusting than the G8 representatives.
 
To hell with that. Its not the governments money. Its my money. I don't enjoy my government taking money from me by force and then casting it about on stupid shit... and then waving off the debt. That just blows.
 
unclehobart said:
To hell with that. Its not the governments money. Its my money. I don't enjoy my government taking money from me by force and then casting it about on stupid shit... and then waving off the debt. That just blows.
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While I don't disagree with anything you say (it really blows), would we ever have seen a dime anyway? Maybe it makes us look good without effectively costing us anything. :shrug:
 
I don't think that the worlds opinion of us will nudge one bit over it. It amounts to roughly 8 bucks a head to everyone on the planet. I would rather have given it away in that manner and said, 'Here ya go! 8 bucks! ... You in the rich countries go and see a movie. You in the poor countries go buy a weeks worth of groceries... courtesy of the US.' At least that kind of a move would have people buzzing at the watercooler the next day instead of a page 2 passing blurb.
 
This will, somehow, someway, be seen as a rich getting richer ploy by the administration & he will need to give away even more money so that the other side might someday like him :rolleyes: Since they don't make foodstamps for places like Faso, this can be seen as Global Welfare. Still, it's not enough.

Aid charities welcomed the package, but said at least 62 countries needed full debt cancellation
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I wonder, do you think that Chase would accept my plea for debt cancellation?
 
HomeLAN said:
Nope. Chase shareholders demand accountability. The US voter, sadly, does not.
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That's the truth.

It's a big noise, but it's still like a brother-in-law loan. These debts were probably never going to be repaid in the first place. Sounds good in the press but really doesn't mean anything.
 
Who cancel's the USA's debt?

Wouldn't that be nice....

I agree that the debt was unlikely to ever get paid...especially with the interest. Why not just cancel the interest and take stocks in the failing nations... once 51% of the stock is owned by the G8... no need to go to war. Just sic the lawyers on them, foreclose, split up the nations and sell off the bits :D
 
unclehobart said:
To hell with that. Its not the governments money. Its my money. I don't enjoy my government taking money from me by force and then casting it about on stupid shit... and then waving off the debt. That just blows.
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Yep, I see no difference in that and the "taxation without representation"
thing that sparked the revolution the started this country.
 
The difference is marketing. People actually believe the crap about taxes being a good thing because somebody has sold them a bill of goods, over & over & over & over & over & over & over again. If something gets repeated opften enough, it begins to sink in as truth.
 
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