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September 20, 2017 | DEBT: My Solution in Steps!

Donald B. Swenson: Born January 24, 1943, Roseau, Minnesota. Graduated H.S. 1961, Moorhead High, Minnesota. Graduated College 1968, Moorhead State University, Minnesota. Designated member of Appraisal Institute (MAI), 1974. Employed with Western Life Insurance Company, 1968 – 71; Iowa Securities Company, 1971 – 73; American Appraisal Company, 1974 – 81. Part-time teacher/valuation consultant/bartender, 1979 – 2008 (taught workshops at Waukesha County Technical Institute, Wi. and Madison Area Technical College, Wi.). Retired 2008 (part time teacher/blogger), AZ. Self educated economist/philosopher/theologian: http://kingdomecon.wordpress.com.

The issue of excessive and unpayable debt is now a relevant issue for Americans and the world community. Since American debt can not be repaid (it’s much too excessive) we need to develop a step-by-step program to eliminate all this debt in the next five years (give or take). Let’s first of all review a few details on our DEBT situation (http://www.usdebtclock.org):

  1. The gross National Debt is now some $20.2 trillion and growing at $700,000,000 this fiscal year. This growth will likely be over $1 trillion in 2020 and after. So paying off this debt is a joke on the public and the world community. The debt can not be repaid. So what do we do?
  2. The State and Local Debt also can not be repaid so this means we need to develop a multi-year program for dealing with all this unpayable debt as well.
  3. The Student Debt and our Mortgage Debt (now $1.4 trillion and $14.6 trillion) also can not be repaid fully. Jobs with incomes for our students have not developed and defaults are now growing exponentially. Mortgage debt will also become impossible to repay as values of homes are now declining nationally. Some 27% of homeowners with excessive debt and declining values are faced with being upside down (debt exceeds value).
  4. Total U.S. Debt is now over $67 trillion and growing. None of this will be repaid fully. If we add unfunded debt obligations to the above then we have a debt of $892,000/taxpayer. Can this continue? I say, NO. Let’s develop a plan to eliminate all this debt via write-offs.

Today, we live with imaginary money (mere ‘photon digits’ in the computer screen as our money units). This means that all our debt is also imaginary and made up of money units which don’t technically EXIST. Why continue this Ponzi scheme of debt and money any longer? We now need to DEAL with this financial problem so that our children and grandchildren have some meaningful future.

What is needed immediately is a program for eliminating debt via write-off’s by our Ponzi financial institutions. These institutions have acquired special privileges from our corrupted Central Bank system and it is now time to recognize that it is our Central Bank and their financial proxies which must accept responsibility for this debt holocaust. What must we now do?

We must write-off debt in steps (call it a debt jubilee over a five-year time period). My suggestion is that we start with homeowner mortgage debt. We have some 75 million households with mortgage debt (give or take). Let’s start with a debt jubilee for these 75 million households first. This would eliminate the $14.6 trillion of mortgage debt with a single computer ‘deletion’. All mortgage debt is living within cyberspace (our computer cyber cloud). Let’s write-off all this ‘imaginary’ debt number to zero immediately.

What would this accomplish? It would reduce mortgage payments for all households with mortgage debt immediately. The financial institutions (holding the debt) can absorb this loss and adjust their imaginary books (mere ‘photon digits’) to accomplish this mathematical result. People must come before mere ‘photon digits’ (that which we call money). Our corrupted financial institutions must now recognize that people are more important than their ‘imaginary’ money (which they create out-of-nothing).

After writing off all this $14.6 trillion of mortgage debt, we then need to write-off all the debt on rental properties. Apartment projects and rental properties have excessive mortgage debt which could free renters from their excessive rent payments. This write-off could be accomplished with one single deletion of a computer key as the debt is ‘imaginary’ and consists merely of ‘photon digits’ (which do not technically EXIST). Let’s eliminate both the home and rental mortgage debt immediately and completely.

America can lead the world community with a DEBT jubilee program which starts immediately. Our phony/fake/cyber ‘dollar’ can be viewed as a candidate for elimination over time as well. This unit of nothing which gets created from the mind of our banksters, can and must be viewed as a unit of nothing. This ‘dollar’ is imaginary/fake/phony and without any redeeming features for our children and grandchildren. It is now time to recognize the above realities and start the process of putting PEOPLE before ‘digits’ in the computer screen.

The above first steps can get the ball rolling on writing off ALL debt over a five-year time horizon. None of our debt is repayable as our economic model is based upon debt and more debt ‘forever’. Those who understand the model of Keynesianism know this reality! Forever is here now! We now need to DEAL with reality and put PEOPLE first. Think about the above and pass this missive on to our authorities who mostly have desired to confuse and deceive with all their financial gimmickry and tricks.

Money rules over people and this is backwards thinking. We need to put PEOPLE prior to money (now mere ‘photon digits’ within the computer screen). Our children and grandchildren will appreciate that we finally are thinking about their future and their survival on this fragile planet called Earth. Look at this website for the evidence of WHY we need to start the ball rolling NOW: http://www.usdebtclock.org.

Check out the unpayable debt for our Nation, our States, and our Local communicates. Then check out the debt of our citizens and taxpayers. It is ALL unpayable as the economic model we use for our system is based on DEBT forever! DEBT forever is now a real-time reality! Keynes is reported to have said that in the long-run we are all dead. This mindset created our debt problem and we now need a NEW mindset which focuses on our children and grandchildren’s future! I am: https://kingdomecon.wordpress.com.

P.S. Kingdom Economics is a blog which puts people first within economics! The model of Kingdom Economics is based upon PEOPLE FIRST (money must not take precedence in this coming world of a global interconnected society)! Give this some consideration as you read this blog.

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September 20th, 2017

Posted In: Kingdom Economics

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