Sunday, November 20, 2011

Justifiable Debt Restructure would Solve MOST of the Debt Problems the 99% are Facing.

A funny thing happened on the way to the forum. I just googled the phrase "justifiable debt restructure". There were only ten total links. The funny part is, they were all mine.

Gasp.

So what is Justifiable Debt Restructure, aka JDR? 

JDR means that consumers their restructure their debts without being declared in default when the economy unexpectedly crashes and the crash can be connected to illegal and fraudulent doings within the financial sector of the United States and their allies. Since the illegal activity makes it more difficult for people to find jobs,  we the people can renegotiate our debts. 


Because it's "Justifiable" debt restructure, requirements can be added such as having a valid reason for the JDR. Medical emergency, job loss, care taking for a family member, natural disaster, high interest rate on a credit card or home mortgage, these are all Justifiable reason's for a debt restructure when poor economic times are at hand.
Anyone who argues against JDR is in my opinion part of the 1%.
Justifiable Debt Restructure is not debt forgiveness, nor is JDR principle reduction either. 


Justifiable debt reduction would allow the 99% to renegotiate the profit margin (aka interest rate charges) that the loaner has made on an existing debt. 

As the Occupy Movement correctly states, the banks got bailed out, the 99% got sold out. However, the Occupy Movement seems intent on punishing the wall street cheaters and corporate lobbyists while also making many changes to the entire political system, and somewhat less concerned about immediately helping the 99% who are falling off economic cliffs each and everyday.

I would suggest an admirable and prolific achievement would be to get justifiable debt restructure implemented as soon as possible. One immediate result would be the financial sector hiring as many as 50,000 workers to handle the tens of millions of applications for JDR.

Each approved JDR would result in less profits going back to wall street and the billionaires who demand they receive the largest residual profits from the vast wealth they already have. Isn't that what the Occupy Movement is also about reforming?


5 comments:

  1. Why are you so concerned about paying back the banks? http://edgeoforever.wordpress.com/2011/11/02/the-tyranny-of-debt-no-medals-for-paying-it-down/

    ReplyDelete
  2. Once again, paying back a debt without huge amounts of interest attached is really really really really really really really different than trying to pay back a debt with the interest rates attached making it insurmountable.

    Debt is debt. Accruing interest rate charges are how the rich elite keep the rest of society down.

    ReplyDelete
  3. Your description of what Bill Clinton did in regards to the budget deficit is in error. Therefore I don't know how much credence I can give to the rest of your article.

    Bill Clinton is the ONLY PRESIDENT in the past 80 years to lower his yearly budget deficit. No other president managed this feat. Yet you claim in your article that Bill Clinton was not pre-occupied with lowering the deficit.

    ReplyDelete
  4. I would have responded on your blog but the comments section appears to be closed.

    ReplyDelete
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