On top of that; no more damn foreclosures and personal bankruptcies. Defaulting on debt should be illegal.
I’ve heard a lot of dumb shit on piggington, but this one is a real gem. So you advocate bringing back debtors prison? Enforcing debt limits isn’t that easy, by fiat anyway. If it were we wouldn’t have the issues we are having. The real problem is that the govt is trying to absolve the debtors of their obligations, without even going into bankruptcy liquidation.
You wouldn’t need enforcement if you just let the bankrupt go bankrupt. Lenders would learn borrowers would learn, few people would suffer, accept those that were born to do so. There is no fix for stupidity.
