[–] [deleted] 17 points 62 points (+79|-17) ago  (edited ago)

[Deleted]

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[–] selpai 2 points 44 points (+46|-2) ago 

How about we start with declaring debt, which you can't absolve through bankruptcy, to be illegal?

[–] [deleted] 0 points 13 points (+13|-0) ago 

[Deleted]

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[–] daskapitalist 0 points 7 points (+7|-0) ago 

That just means poor credit risks will never receive loans, aka college students.

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[–] wuzizname 1 point 0 points (+1|-1) ago 

The only debt I'm aware of that cannot be absolved through bankruptcy is tax debt, and the government won't be changing that any time soon.

[–] [deleted] 0 points 30 points (+30|-0) ago 

[Deleted]

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[–] PM_ME_YOUR_BOOBS2 1 point 12 points (+13|-1) ago 

I posit that a society that completely disallows debt would be a better one, prices would reflect what companies and people could actually spend and not what they could borrow.

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[–] Drenki 12 points 6 points (+18|-12) ago 

Finally someone who knows something about monetary history. I'm getting tired of these Bernie fags who don't know shit about economies.

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[–] jeegte12 2 points 3 points (+5|-2) ago 

because if we don't, then those people who make bad financial decisions will drag the rest of us down with them. so ask yourself which you would prefer: for the intelligent to lift up the stupid, or for the stupid to bring down the intelligent?

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[–] HorseIsDead 0 points 1 point (+1|-0) ago 

Fuck that. Buy a grocery store, mechanic shop, hospital, and bank. You'll be set for life after that.

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[–] rsa 0 points 60 points (+60|-0) ago 

The video they embed is from April, 2012.

The event happened 4 years ago.

Sorry, I would consider this to be a spam repost.

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[–] tomlinas 0 points 36 points (+36|-0) ago 

Read it carefully and it's painfully obvious that this wasn't written by a human. It was almost certainly written by a news generating algorithm (look at how 3 paragraphs in a row are different variations on the phrase "putting the accused on the bench" and how two whole paragraphs are just fact reports on what the results of Google searches are). The author cited is just the website itself, which is probably even factually correct.

To me it's a total non-story anyway. What, it was blacked out amid all that other news about Iceland? If it wasn't for playing EVE and dealing with corporate travel during the volcanic eruption I wouldn't have heard anything about Iceland at all in the last two decades.

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[–] Phivex 0 points 3 points (+3|-0) ago 

o7

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[–] Subtenko 0 points 4 points (+4|-0) ago 

it would be nice if people put the year in the post. Or put it in TIL even tho u can learn anything today

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[–] rspix000 0 points 1 point (+1|-0) ago  (edited ago)

You're right. Current news is here The article is about Iceland sending its 29th bankster to prison after forgiving all home loan balances over 100% of the value.

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[–] Tea_I_Am 0 points 17 points (+17|-0) ago 

Voat links to some sketchy webpages from time to time. I always have to remind myself to check the link. Who are these people?

[–] [deleted] 1 point 7 points (+8|-1) ago 

[Deleted]

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[–] cyks 3 points -2 points (+1|-3) ago  (edited ago)

Something legitimate would not say "TOTAL MEDIA BLACKOUT."

The site is talking about the MSM censoring the news you receive. If you think the former makes a news source illegitimate, you are most certainly retarded or cashing MSM checks.

[–] [deleted] 1 point 4 points (+5|-1) ago 

[Deleted]

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[–] teatime 0 points 1 point (+1|-0) ago 

It belittles the scarifies people who have paid off their debt make though which upsets the responsible folk. For example, many of my mentors and professors felt I should have gotten a masters degree, but after doing the math I realized I couldn't afford it. Years later, I was offered an opportunity to travel abroad as part of an educational expedition, but doing the math realized I couldn't afford it. There are two fantastic and potentially life changing opportunities I gave up because I did the responsible thing. If I had used debt to fund either of those things, and that debt was forgiven, I would likely be in a better position in life. Thus the system of forgiving debt would reward those who engage in risky behavior and not those who take calculated risks.

It's not that we shouldn't do it, it's that a lot of people would be butt hurt because "it's not fair." And I see their point to some extent. I didn't buy a house in my 20's because I wanted to wait to buy it without debt. It would be better, in my opinion, to allow each person filing taxes to receive a substantial tax return equal to the amount of debt the average American adult has. This way, those who took calculated risks would still feel an economic benefit.

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[–] amek 0 points 4 points (+4|-0) ago 

Icelanders had the portion of inflation-indexed housing mortgages exceeding 110% of the property value forgiven.

This 110% route was agreed on January 15, 2011.

http://www.bloomberg.com/news/articles/2013-06-24/iceland-debt-forgiveness-reaches-2-billion-since-crisis

http://eng.forsaetisraduneyti.is/news-and-articles/nr/7808

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[–] gaybies 0 points 3 points (+3|-0) ago 

Umm. I did what the article suggested and googled "ICELAND FORGIVES ENTIRE POPULATION OF MORTGAGE DEBT". Not only did I not get that many results, but all the ones I did get were a circle jerk of this same poorly written article. From what I can gather, if this did happen, it was in 2012...if at all.

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[–] kittysaysmeownow 0 points 1 point (+1|-0) ago 

So I googled it and this article is Bullshit.

what actually happened was in 2012 they relieved a part of the debt, only on mortgages, only on ones that were incurred during the financial crisis, and only enough to cover the excess inflation at that time. Basically they made homeowners whole as if the crisis had never happened and their mortgage balances are now what they should have been in the first place.

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[–] New_years_day ago 

Iceland is a fucking rockstar, and i would love to move there.

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