I was once invited to a get together in New York City, after the passing of Morley Safer a Canadian Born Reporter whom was a long standing writer and reporter for 60 minutes. Feeling privileged to be there never stopped me from having an Opinion though, no matter how prestigious the crowd was or to whatever level of intellectual capacity, I will talk about all things, from Politics, to Science, Social, Culture, Religion and we may disagree, but in the end and in general I find all People Beautiful, Complex, but in General people are Good inside. So, this article is written for you, all people whom have good intentions and whom are constantly proving yourself right or wrong on complex issues.
So this article is about debt curves. In one of my many conversations at the memorial for Morley, I met a lovely couple, a Beautiful Woman with Gorgeous Red Hair and her Husband I believe worked in Theatre, but we came to the conversation on the Economy and I stated "it is hard to measure the Economy based upon stocks in the trading industry especially when you are not rounding up all these different billions of debt curves." I remember GRH Gorgeous Red Hair Woman asked what do you mean by billions of debt curves? I was about to explain until another topic came up through the greetings of people and the sharing of Morley's passing was more important anyway. But this week it reminded me of the Billions of Debt Curves question, what do you mean? Well everyone has credit one way or another.... you either took out a loan or perhaps you had a good steady job all your life and you accumulated some good wealth not to depend on credit too much, or you have a mortgage which is credit as well, think about all the lending from Country to Country from Corporation to Corporation and to the individual borrower, we have different debt curves, different start dates of the lending and different accumulation of wealth, we live in different neighbourhoods, countries, technologies ... these are debt curves meaning the time you had money through lending. So if you look at this graph,
the debt curve shows the time you had more money and you were spending it, the lower part of the graph is when you stop spending and start realizing that you need to pay back the money you burrowed, thus some economist call this point a recession, where it is time to pay back the loans and stop spending. I trust that you understand that Recession can occur in one market and the other Market is experiencing Growth. So this distortion of not being able to sum up these billions of debt curves clearly does not show the true reality of an Economy. It would take millions of variables and tying every database together to get a fair assessment of our General Economy. So, you may have predictions based upon hyper ventilated markets which are always a stress for any Corporation to consider being Private or going Public. I get annoyed at this form of delusion we feed our Innocent Citizens of Canada or the U.S. to suggest that our Economy is doing well, based upon a lack of serious variables, which in the end is Unconscionable. We need a better system to analyze the Economy and bring fairness back to a Corrupt, Un-Free Market manipulated by Hyperbole and Fiction.
The true danger of these Billions of Debt Curves is it causes division and lack of understanding among people in general. Because the accumulation of wealth being either from Rich, Middle Class, Working Poor, and Poor, using these general Categories; each of these categories experience different debt curves in different ways and in the end it creates bitterness among the classes rather than evolving to a better class. In fact there should be no poor people at all or Working Poor that is even more ridiculous for the 21st Century. Expunging these categories is what Martin Luther King was proposing in his time and what a dangerous march it was going to be and they killed him before he got to it. You see wealth can make you do strange things, and extreme wealth can make you even do stranger and very unethical things.
Until we grasp the concept that our perception from whatever financial position you are in, your debt curves creates a delusion of you neighbours position. For instance take Rich people to Poor people you will rarely and probably never agree, Politically, Socially, Corporately, Culturally, Traditionally, why because money influences all of these topics and your opinions on these topics will also have the influence based upon the amount of money you have in your account. It's almost like a well developed system devised to create these delusions so that you may never achieve any form of Peace.
Are there answers to this Political Economic mess; actually, yes, it's been an idea that I have been advocating for many years. A clear modern day example, like the NASDAQ after a day of trading all numbers go back to zero in order for trading to begin fresh in the morning, so why not have a Global Jubilee a wiping out of all debt, since 90% of it is digital and frankly it will alleviate people and markets, and it would give a fresh start to a more sound Economy. The concept is not new, the concept was introduced in Jewish tradition, and the concept of the Jubilee is a special year of the remission of sins and Universal Pardon. In the Book of Leviticus a Jubilee year is mentioned to occur every fiftieth year, during which slaves and prisoners would be freed, debts would be forgiven and the mercies of God would be particularly manifest. The tradition also continued in Western Christianity as early as the 1300, in saying this there should be a serious look at exercising a Jubilee in our current Global Economy today.
I may not have all the answers to this mess, but at least I am looking at this mess with an honest look that our Economy needs a good clean up. When you avoid properly cleaning up a mess and you try to push the mess under a rug for so long, sooner or later it just makes a big lump in the middle of the rug full of dirt of which someone will peal over the rug just to expose the rot that this dirt has caused for so long.
This is just a small article to introduce to you the idea that the Economy is a complete mess and adding a band aid on an open fracture is not going to heal the fracture. We need a better system if we want to continue in an Economic System, and we need to approach it with a little more Humanity and with bold innovation. A year of Jubilee can perhaps unite us a lot more in Peace rather than drive wedges of War because of financial troubles. I am sure there are going to be many more ideas for the Economy and I welcome it, for now this is where it needs to start.
"As Iron Sharpens Iron as one person sharpens another." If you have a better solutions then sharpen me.