Thread: Jubilee 2009 Forgive All Debts?

The word Jubilee used to mean a celebration that happened every fifty years where all debts were forgiven, slaves and prisoners released, etc....

Perhaps we need a Jubilee 2009?

What would happen if we forgave all debts established before last month?

They used to do something like this in the past, why not now?

W

I have been thinking about this lately. The jubilee originated in biblical times didn't it?

Originally Posted by ALIPAC

The word Jubilee used to mean a celebration that happened every fifty years where all debts were forgiven, slaves and prisoners released, etc....

Perhaps we need a Jubilee 2009?

What would happen if we forgave all debts established before last month?

They used to do something like this in the past, why not now?

W

Sounds good to me!

The Jubilee Year...

"And you shall count seven Sabbaths of years for yourself,
seven times seven years;
and the time of the seven Sabbaths of years
shall be to you forty-nine years.
'Then you shall cause the trumpet of the Jubilee to sound
on the tenth day of the seventh month;
on the Day of Atonement
you shall make the trumpet to sound
throughout all your land.
And you shall consecrate the fiftieth year,
and proclaim liberty throughout all the land
to all its inhabitants.
It shall be a Jubilee for you;
and each of you shall return to his possession,
and each of you shall return to his family...."
- Leviticus 25:8-55

My family was just talking about that the other day.

I'm all for it. Countries have forgiven foreign debt, so why not across the board.

I'm all for it. The slate will be clean and everyone would go on a buying spree (WITHIN REASON) I would hope.

That would definately be called GOOD WILL for the planet. The greedy bankers won't have any of it though, is my guess. They like the slaves to ushery too much.

The jubilant will be those on Wall Street. The money changers. Financial instruments of mass destruction, derivitives, being cancelled out, or halted, or made void by the G20.

Your mortgage and credit card debt will not experience the same jubilation.

But, but, but...........I have no real debt (just monthly bills like electric, DirectTV, insurance, etc.). House, boats (2), vehicles (3) paid for and a there is a zero balance on the one credit card my wife and I carry for emergencies. Would forgiving other folks their debt be fair to people like us who have made a lot of sacrifices to live within our means? Forgiving debt is the same as giving money, isn't it? Is it selfish of me to expect others to be responsible and pay off their acquired debts as I have?

Nice thought but I don't see the fairness in such a proposal.

NO!!!!!!!!!!!!!!!!!!! I am one of those rare ones who has no debt....
nothing....zilch....nadda......

I also do not have toys like jet skiis...campers....dirt bikes.....

My parents went thru the depression and I was brought up to not buy ANYTHING unless you can afford it!!!!!!!!!!!!!!!!!!!!!!

I left California when housing prices were up and sold and came here and immediately paid for my cheaper home here in Nevada...I did NOT buy my DREAM home...cause it was biggger and cost more....I bought the home I could afford

I definitely use my credit card but it is paid off every month...I have never paid a interest payment on it.....

I drive a 7 year old car that is running great and very seldom go out for dinners etc.....I am still working when I could have gone on Social Security 2 years ago.....and will quit at 65.....

So...under this plan.... the responsible ones would be screwed and irresponsibility would get rewarded....again

I too have no debt and I work really hard to save my money. I paid off my car this last april and I do not own a home I rent. I pay everything with the money I have in my account. If I don't have the money I don't buy it. I learned this when I got my first credit card at 20 and started using it. It felt horrible to keep paying for all the stuff I bought and no longer use! I paid everything off and haven't accumilated debt since. I'm teaching my fiance to do the same. :P So no I do not think a jubilee would be fair to folks like me, MW or Grandmasmad.

How would forgiving the debts of others harm any of you that owe no debts? Just curious. I know on the surface it seems unfair because you happen to have all your debts paid, but that does not mean that those that just got a mortgage are treating you unfairly.

How would forgiving all debts each 50 years in reality harm anyone that has no debts?

W