<DrumBeat: October 14, 2008 The Oil Drum DrumBeat: October 15, 2008>

169 comments on A Long Term Solution to Our Financial Crisis: The Other Forms of Capital

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Lucifer on October 14, 2008 - 8:26pm Permalink | Subthread | Parent | Comments top

Don't waste your breath on junkies, they cannot see that DEBT IS EVIL, and like most junkies they will go to their graves with the fit hanging out of a vein.

Speaking of junkies, 8000 on the dow was a good floor but no, they need their adrenaline fix (don't glorify them as dopamine junkies Nate, they like the rough dirty stuff).

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Ignatz on October 14, 2008 - 11:18pm Permalink | Subthread | Parent | Comments top

DEBT IS EVIL,

Well I dunno about that, wouldn't going through life neither owing or being owed anything by anyone be a rather sad life. Maybe you mean that the misuse of debt is evil?

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Ignatz on October 14, 2008 - 11:37pm Permalink | Subthread | Parent | Comments top

Maybe you mean that the misuse of debt is evil?

Well I dunno about that, what about going through life doing what was needed doing without discriminating between self and other as benefactor. Just eliminate debt altogether ... of course along with that we would eliminate all of the drama and comedy of life. I think God would get bored stupid and have to start chucking in snakes or something.

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RobinPC on October 17, 2008 - 9:17am Permalink | Subthread | Parent | Comments top

D.Benton_Smith wrote:

debt IS money, and vice versa

Sorry but that's simply not true.
Debt by definition must involve a debtor and a debtee. Meanwhile, when people start using cigarettes or soybeans as a medium of exchange, the result is a form of money and yet no debtors or debtees need be involved.
If debt really was money then the US would be the richest nation on the planet. I agree instead with Martenson that debt is a claim on money.
PS- All or most of what DBS writes further down is correct though.

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GreyZone on October 17, 2008 - 3:09pm Permalink | Subthread | Parent | Comments top

Debt (credit) gets treated like money in good economic times. In hard economic times, credit (debt) may not be extended any longer but money you already have remains yours.

I agree with you, RobinPC. And the original poster seems confused as to the difference between credit (debt) and money.

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musashi on October 15, 2008 - 4:34am Permalink | Subthread | Parent | Comments top

No debt = freedom

The more debt relative to income, the more cornered people are.

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Ignatz on October 19, 2008 - 2:23pm Permalink | Subthread | Parent | Comments top

Musashi I think they also become more edgy.

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169 comments on A Long Term Solution to Our Financial Crisis: The Other Forms of Capital

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