What if…We Practiced the Year of Jubilee?

The whole world is in debt. Major debt.  OK so maybe not all but enough to cause concern.  What happens if a country goes bankrupt?  If one falls, will more? Then what?

Will the creditors then own the country? Will they rule? Can they?

Is there a way to bail out a country?  Who has the means to do so?  Would they be willing if we asked them?

What would happen if all debts around the world were marked paid in full?  What if all countries, businesses and persons were wiped clean and all were able to start fresh?

I don’t have an economic calculator.  So I can’t run the numbers. But these would be interesting exercises to do.

And then maybe do incremental scenarios. What if all debt was split in half, quartered, etc. What if half the countries default, one fourth, etc.

Do we have to let the play run the course or can we step back and do some figuring before the first domino falls?

 

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