4 ms·

I think you do get this correct. It is the bank's responsibility to assign its loans properly. That's the risk they take and why they get to collect an interest

by 317070 7y ago

I think you do get this correct. It is the bank's responsibility to assign its loans properly. That's the risk they take and why they get to collect an interest. Maybe watch this video of David Graeber from start until 5:20, https://www.youtube.com/watch?v=CZIINXhGDcs https://www.youtube.com/watch?v=CZIINXhGDcs He makes the point more clearly. I mean, do I get this correct? Would you say that when people need to pay their debts, the bank gets to enforce measures despite it causing the debtor's children dying (i.e. increased child mortality)? I might have gotten you wrong here. It is not easy to parse a 100+ word sentence.

mrtksn 7y ago
There are numerous studies about the positive effects of being rich and have the easy life, including studies showing that the richer you are the lesser child mortality you get. You can argue that if that money was not given in first place is just as bad as asking it back. I am sure the poorer EU countries would also lower their mortality rates if they were given the free check. What's special about Greece, why Romanians can't lower their mortality rates by living a good life on credit? Why the UK can't do that? They both have higher child mortality rates than Greece: https://www.ined.fr/en/everything_about_population/data/europe-developed-countries/birth-death-infant-mortality/ https://www.ined.fr/en/everything_about_population/data/euro... Are they not clever enough? Not important enough? What's going on here?
- 317070 7y ago
  Your argument is that those children in Greece deserved to die because children in Romania are dying too? I am not convinced by that argument. What is going on here is that debt in the current financial system is at conflict with current moral standards. Debt is being transferred from parents to children (mostly in the form of state debt), while defaults are being pushed almost exclusively on the the debtor from the debtee. The consequence is that there are a lot of people being punished for events outside of their control. Yeah, when a debt cannot be filled, debtor and debtee need to share the consequences proportionally. And in the case of Greece, the 30% haircut is not remotely proportional.
  - mrtksn 7y ago
    No they don’t deserve to die but let’s have a system where children all over the world are taken care of, not only those whose parents can game the creditors. also “Think of the children” argument should stop being abused.

by 317070 7y ago

mrtksn 7y ago

There are numerous studies about the positive effects of being rich and have the easy life, including studies showing that the richer you are the lesser child mortality you get. You can argue that if that money was not given in first place is just as bad as asking it back. I am sure the poorer EU countries would also lower their mortality rates if they were given the free check. What's special about Greece, why Romanians can't lower their mortality rates by living a good life on credit? Why the UK can't do that? They both have higher child mortality rates than Greece: https://www.ined.fr/en/everything_about_population/data/europe-developed-countries/birth-death-infant-mortality/ https://www.ined.fr/en/everything_about_population/data/euro... Are they not clever enough? Not important enough? What's going on here?

317070 7y ago
Your argument is that those children in Greece deserved to die because children in Romania are dying too? I am not convinced by that argument. What is going on here is that debt in the current financial system is at conflict with current moral standards. Debt is being transferred from parents to children (mostly in the form of state debt), while defaults are being pushed almost exclusively on the the debtor from the debtee. The consequence is that there are a lot of people being punished for events outside of their control. Yeah, when a debt cannot be filled, debtor and debtee need to share the consequences proportionally. And in the case of Greece, the 30% haircut is not remotely proportional.
- mrtksn 7y ago
  No they don’t deserve to die but let’s have a system where children all over the world are taken care of, not only those whose parents can game the creditors. also “Think of the children” argument should stop being abused.