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Sarita

Debt As A Means To Curb Potential Social Unrest

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Hello everyone

I don't post a lot on here but I lurk a lot, and I've learnt a lot (like how to fend off friends and relatives - and spendthrift ex - who keep hassling me to blow my hard-earned deposit money and buy 'because property only ever goes up').

Anyway, I came across this posting on the Adam Curtis blog

Let Them Eat Plastic and I don't think I've seen it mentioned on this site - he refers to a book called Fault Lines by Raghuram Rajan who argues that access to cheap debt was used as a means to quell social unrest.

Here's how he sums up the book:

"Faced with this [social unrest], governments made a political choice. Rather than reform society, they removed all restrictions, gave up on their moral disapproval [of debt], and allowed a system to be created by the bankers that let everyone borrow.

It was better to give in and allow the "little people" to borrow rather than let them keep on striking and threaten social order. And what's more you could make lots of money out of it."

I imagined it's telling most of you what you already know but I thought you still might want to have a look

Best wishes

S

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Hello everyone

I don't post a lot on here but I lurk a lot, and I've learnt a lot (like how to fend off friends and relatives - and spendthrift ex - who keep hassling me to blow my hard-earned deposit money and buy 'because property only ever goes up').

Anyway, I came across this posting on the Adam Curtis blog

Let Them Eat Plastic and I don't think I've seen it mentioned on this site - he refers to a book called Fault Lines by Raghuram Rajan who argues that access to cheap debt was used as a means to quell social unrest.

Here's how he sums up the book:

"Faced with this [social unrest], governments made a political choice. Rather than reform society, they removed all restrictions, gave up on their moral disapproval [of debt], and allowed a system to be created by the bankers that let everyone borrow.

It was better to give in and allow the "little people" to borrow rather than let them keep on striking and threaten social order. And what's more you could make lots of money out of it."

I imagined it's telling most of you what you already know but I thought you still might want to have a look

Best wishes

S

...that lets Fred the Shred of the hook and blame Gordo..... :rolleyes:

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Hello everyone

I don't post a lot on here but I lurk a lot, and I've learnt a lot (like how to fend off friends and relatives - and spendthrift ex - who keep hassling me to blow my hard-earned deposit money and buy 'because property only ever goes up').

Anyway, I came across this posting on the Adam Curtis blog

Let Them Eat Plastic and I don't think I've seen it mentioned on this site - he refers to a book called Fault Lines by Raghuram Rajan who argues that access to cheap debt was used as a means to quell social unrest.

Here's how he sums up the book:

"Faced with this [social unrest], governments made a political choice. Rather than reform society, they removed all restrictions, gave up on their moral disapproval [of debt], and allowed a system to be created by the bankers that let everyone borrow.

It was better to give in and allow the "little people" to borrow rather than let them keep on striking and threaten social order. And what's more you could make lots of money out of it."

I imagined it's telling most of you what you already know but I thought you still might want to have a look

Best wishes

S

Raghuram Rajan has an extraordinary statistic. That if you look at the the growth in real incomes between 1976 and 2007, 58% of it went to the top 1%.

its always the same with inflation every time in ******ing history

people need to wake the ****** up

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Hello everyone

I don't post a lot on here but I lurk a lot, and I've learnt a lot (like how to fend off friends and relatives - and spendthrift ex - who keep hassling me to blow my hard-earned deposit money and buy 'because property only ever goes up').

Anyway, I came across this posting on the Adam Curtis blog

Let Them Eat Plastic and I don't think I've seen it mentioned on this site - he refers to a book called Fault Lines by Raghuram Rajan who argues that access to cheap debt was used as a means to quell social unrest.

Here's how he sums up the book:

"Faced with this [social unrest], governments made a political choice. Rather than reform society, they removed all restrictions, gave up on their moral disapproval [of debt], and allowed a system to be created by the bankers that let everyone borrow.

It was better to give in and allow the "little people" to borrow rather than let them keep on striking and threaten social order. And what's more you could make lots of money out of it."

I imagined it's telling most of you what you already know but I thought you still might want to have a look

Best wishes

S

Yeah Debt to control people.

Stuck in jobs or career level - with fairly static wages, no job security, no real chance of jumping in salary - a "moral" obligation forced to have a work ethic, and enjoy your job - life becomes about paying the bills and fitting in- no time threaten the social order when you can't even say boo to your boss at work without worrying about getting the sack.

You have got your promotion at work, your now in management - oh now you have kids- more debt, and guess what you don' t earn that much more - but the responsbilitis are much greater, the competition to hold on to your job becomes tougher, its tougher to move up - backstabbers and politics everywhere - oh no point going elsewhere its same politics, and you have to start learning a new system, new people - ultimately the same crap at the end of the day. Go get a new job then you need references, you have suck up to the powers the be to get a decent reference to move to a new job.

Often believe that job reference system, debt, work ethic, corporate self improvement BS, high house prices keep 95% of us effectively on treadmills until were 70 - but its something we never discuss, cause at the end of the day we need people do all the crappy jobs out there.

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Hello everyone

I don't post a lot on here but I lurk a lot, and I've learnt a lot (like how to fend off friends and relatives - and spendthrift ex - who keep hassling me to blow my hard-earned deposit money and buy 'because property only ever goes up').

Anyway, I came across this posting on the Adam Curtis blog

Let Them Eat Plastic and I don't think I've seen it mentioned on this site - he refers to a book called Fault Lines by Raghuram Rajan who argues that access to cheap debt was used as a means to quell social unrest.

Here's how he sums up the book:

"Faced with this [social unrest], governments made a political choice. Rather than reform society, they removed all restrictions, gave up on their moral disapproval [of debt], and allowed a system to be created by the bankers that let everyone borrow.

It was better to give in and allow the "little people" to borrow rather than let them keep on striking and threaten social order. And what's more you could make lots of money out of it."

I imagined it's telling most of you what you already know but I thought you still might want to have a look

Best wishes

S

Post war governments have continually tken the path of least resistance. The credit bubble is just one (very destructive) example of many. It is a fundamental flaw of democracy in conjunction with an illeducated and divided population. This, naturally, depresses me no end, and it looks like that the game is going to end before my life time is over.

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Guest UK Debt Slave

Hello everyone

I don't post a lot on here but I lurk a lot, and I've learnt a lot (like how to fend off friends and relatives - and spendthrift ex - who keep hassling me to blow my hard-earned deposit money and buy 'because property only ever goes up').

Anyway, I came across this posting on the Adam Curtis blog

Let Them Eat Plastic and I don't think I've seen it mentioned on this site - he refers to a book called Fault Lines by Raghuram Rajan who argues that access to cheap debt was used as a means to quell social unrest.

Here's how he sums up the book:

"Faced with this [social unrest], governments made a political choice. Rather than reform society, they removed all restrictions, gave up on their moral disapproval [of debt], and allowed a system to be created by the bankers that let everyone borrow.

It was better to give in and allow the "little people" to borrow rather than let them keep on striking and threaten social order. And what's more you could make lots of money out of it."

I imagined it's telling most of you what you already know but I thought you still might want to have a look

Best wishes

S

Debt is just a very efficient system of social control, the most effective non violent means ever devised to control people.

But it is still a fear based system

Fear of losing your job, your home, etc etc etc

Bastewards

Edited by UK Debt Slave

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Debt As A Means To Curb Potential Social Unrest - copyright Margaret Thatcher 1979.

Orwell writes about it in the 30s in 'Keep the Aspidistra Flying'.

I know it's de rigeur in some circles to blame everything on 'Fatcher'...but some things do predate her.

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  • 152 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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