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Posted by dj_mdma on Aug-10-2006 17:53:

What would happen if...

National Debt was paid off?

Countries didn't owe banks money from taking part in wars.
Mortgages were all paid off
Society didn't have any credit card/overdraft debts.

Its never going to happen, but i do remember someone telling me that if it did happen, the world would go into economic meltdown or something?

Posted by daves on Aug-10-2006 17:55:

it would be a sign of the apocalypse!

Posted by jdat on Aug-10-2006 21:16:

I would be very interested in hearing about a debt free planet.

Any reading material or references would be greatly appreciated

Posted by d-miurge on Aug-10-2006 21:24:

It's a sign of the weak confidence of the investors. So, in an opened economy, with a permanent competition it's impossible. 0 debts = generalized Communism.

Posted by Sunsnail on Aug-10-2006 22:26:

completely right. debt and credit is a good thing

Posted by Subey on Aug-11-2006 00:03:

Servicing debt is too useful as a prosperity sink to be abolished

Posted by Orbax on Aug-11-2006 00:10:

id loan my money to people at ridiculous rates

Posted by yujie__ on Aug-11-2006 00:21:

it would lead to a global zionist/alien-human hybrid taking over planet conspiracy