As the outlook gets gloomier by the day, with a great depression being predicted by some, I was wondering why debt forgiveness isn't on the cards at all?
Now I am no expert, and supposedly Europe/UK/USA owes a lot of money, so I am guessing it is to China? Is this right?
Plus of course they all owe money to each other. Everyone seems to be in debt. And of course China is now said to be in the middle of a property bubble, and we all know where that ends.
So would it not be in the interest of everyone concerned to start forgiving some debt? After all, if Europe goes bust, it will impact the entire world. The UK will suffer, the USA will too, and more importantly China will have lost an awful lot of buyers for their mass produced rubbish, so its hardly in their interest either.
Am I being too simple? I know its not the thing to do to say to someone "sure that money you owe me, forget about it" but might it not be a case of biting off your nose to spite your face?
Now I am no expert, and supposedly Europe/UK/USA owes a lot of money, so I am guessing it is to China? Is this right?
Plus of course they all owe money to each other. Everyone seems to be in debt. And of course China is now said to be in the middle of a property bubble, and we all know where that ends.
So would it not be in the interest of everyone concerned to start forgiving some debt? After all, if Europe goes bust, it will impact the entire world. The UK will suffer, the USA will too, and more importantly China will have lost an awful lot of buyers for their mass produced rubbish, so its hardly in their interest either.
Am I being too simple? I know its not the thing to do to say to someone "sure that money you owe me, forget about it" but might it not be a case of biting off your nose to spite your face?