Dmitri Orlov recently posted a summary of a report by David Korowicz I include it here because it talks about the notion of a debt Jubilee. This is a quote from Orlov’s summary:
‘Other than that, first and foremost, no matter who you are or where you are or how many wooden shekels you’ve squirreled away under your floorboards, don’t expect a soft landing. After reading this treatise, I am now more than ever convinced that sovereign debt default is not some sort of spring shower that passes and then the sun comes out again. If Korowicz is right—and he appears to have done his homework—then at some point what is now still a gradual process will lead to a sudden, irreversible, catastrophic disruption of daily life.’
The comments are very interesting and one mentions Steve Keens views which fly in the face of this report. One poster Tom O’Brien mentions that Keen does not take into account the laws of Thermodynamics and that he will be interviewing Keen next week on his show and will put it to him (this week now).