Tuesday, October 31, 2017

TCR Thesis #59 - Debt is Serfdom

Significant long-term consumer debt is a form of serfdom, caused by artificially easy long-term credit, which bids up prices.  Long term debt serfdom could be eliminated, and prices of big ticket items could be reduced, by extending bankruptcy laws to not allow for loans/refinances of longer than seven years.  Other than marriage, contract/treaties should last no longer than seven years. 


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