Bankruptcy shouldn't exist and debtors should go for prison. Discuss

Bankruptcy shouldn't exist and debtors should go for prison. Discuss.

Even if it's the result of healthcare? I guess I'd be ok with that if banks didn't lend money they didn't have, essentially creating it out of thin air.

This.

Debt based slavery = banks are evil af.

There's a reason Jesus flipped the fuck out over interest rates.

If anything, provide recourse for those in debt through training programs that will allow them to make more money.

Capitalism can not operate without debt, it's just an unfortunate part of the system we use.

It's not perfect, but it's better than everything else.

Sauce?

...

States can't operate without the monetary system and finance interventionism.

That's what actually you should be saying. But you're an idiot.

so no loans at all? or you expect people to just give you money with nothing in return?

>those legs and thighs

No please, i work for wells fargo, and make 100k + bonuses.

First year too, im 24.

How do you expect someone to pay if they are in prison and not working?

Your mum is an idiot

No

Your yamaka is showing.

Only if charging interest is also a crime.
See why this would never work? Debt is how you control the lower classes. Debtors prison would simply eliminate it.

Debtor's Prison used to be a thing, but they got rid of it. If they're in prison not making money, how the hell will they collect?

degree in finance? what is your position?

I don't know if I believe you. My parents were in banking with degrees and still took 20 years to work up to 100k+

...

Well whoopdee fucking doo for you

Moral degeneracy should be punishable by prison.

>debtor prisons
>giving the government even MORE power
I can tell you're voting for Trump.

The problem in America decides to post.

Enjoy your nepotism fag.

Nah, i'm kidding i wanted to see how many triggered people would respond. I can timestamp my real profession. I'm a Pulmonologist. :( I still make decent money for first year.

I can timestamp some proof, med school, etc.

I wont show you where i work for obvious reasons.

Although in theory I agree, not in practice. I have worked in sales / debt collection for the last 8 years. Predatory sales tactics get people involved in things they don't understand. I'm all for personal accountability but you have no idea how many contracts I've gotten signed without even really selling anything, it would be chaos

Telling you guys training/school is the only way it works.

Debtor takes on more debt to become trained (banks are happy)

They become more useful in society and make more money, eventually escaping their debt (everyone happy)

This cycle just continues bottom to top forever.

>should

subjective

try this:
debt shouldnt exist

You do realize that would completely stifle new investment? Would you take out a loan to develop your business if there was a distinct possibility of getting daily assfucked by Paco over it?

>capitalism
>better than everything else

i giggled

hate talk like this will only bring jews

the day

of

the rope

Good for you, if you don't have a problem with helping finance gypsies getting richer.

Who pays for their food and board while they're in prison?

READ

I was considering studying something in banking, or investment banking, when entered uni. But, that was a long time ago.

Sorry, I didn't refresh before posting.

If you don't want debts, don't borrow money.

Interests shouldn't exist and loans should only be given to help a brother in need, expecting no return to investment.

Sauce?

bankruptcy is a legal way to resolve debt and establish what can be repaid.

Your thread is bait, enjoy this bite.

Yes.

>Don't have enough income to pay your debts
>Get thrown in a place where your income drops to zero and fuck over your opportunities to improve your income in future

that's why arab world is shit
no interest - no interest

itt: Ignorance

>that's why arab world is shit

They don't charge interest, they just use tactics that still result in profits for the lender but aren't technically interest. Because, of course, their god is going to be pleased they found a way to outsmart him.

Also
>Implying that's the only reason the entire middle east is a shithole, marked only by the variations between high and very high levels of shittiness

Bankruptcy is actually more profitable than that.

That is a nice image though.

Bankers and their fake money shouldn't exist, and their sympathizers should be hung from trees.

Debt should exist but interest is pure evil.

Lets say I have about 40k in sent with no hopes of paying intrest soon. What should I do to begin the process of austerity so I don't end up homeless?

Why? Lenders already factor bankruptcy into their rates.

Move to a state that'll let you grow weed and grow weed legally to pay dat debt. Gotta get in on the bubble before it pops

guys remember food grows on trees and money is made of cotton. dont let the banks brainwash you.

I think you misspelt Spain as states.

Have you actually looked into the history of debtor's prisons? There is a reason we don't do it anymore.

then no one would loan money dingus

translation
>itt: people i disagree with

Loans are evil its literally getting money from nothiing due to interest so it has to be stopped. Its one of the cheapest get rich fast scams in all human history.

Yeah what a horrible world it would be where everyone only bought what they could afford.

>They don't charge interest, they just use tactics that still result in profits for the lender but aren't technically interest. Because, of course, their god is going to be pleased they found a way to outsmart him.
The exact same thing was done in medieval Europe.

Funny coming from country that basically consists of offshore financial centre.

A simple concept, yet apparently too hard to understand after 3000+ years of bullshit.

It's not for nothing, it's for parting from your money (which could be used on consumption or investment) and taking a risk of default.

Absolutely not.

Not having debtors prison is a lot of the reason that Capitalism is so innovative today. People can try wild ideas without the fear of being locked up and begging for pennies forever.

The primative policy you are arguing is the way greedy lenders acted in the past, and it turned out was beneficial for no one, as the banks would have few people to lend to, people had to pay for prisons, and the debtors who were innovative ambitious people were locked up.

Bankruptcy shouldn't exist and debtors should be forced to sell themselves to temporally slavery to cover their debt.

Usury should be illegal and the exploited should be imprisoned

imbecile.

*Exploiters

>its not for nothing

>its for parting from your money

you get your money back for that
interest is for nothing

>wanting to use government force to tell someone they can't voluntarily write a contract to borrow money

Wait a minute, you're not suggesting that the government should place restraints on unbridled capitalism are you?

So basically you have a choice: either you keep your money and can use it, or delay using it so someone else can enjoy it. How does the second choice not warrant payment?

same thing with indentured servitude
or selling your kids into slavery
and so forth

i.e. strawman

see:

>Lend their money to you
>You're too much of a fucking retarded irresponsible nigger you can't pay back even the principle
>LOL THEY SHOULD BE IN JAIL
Shut your fucking cock holster, nigger

NO. that just puts more mouths to feed and butts to rape in prison. Prison industry is just another way for the banks to rake in even MORE money from taxpayers with the excusse that "this goy didnt pay HIS intrest on that house he bought for 100k, but was only worth 80k and he has spent 150k over the past 10 years AND HE STILL OWES US ANOTHER 70k because he took too long to pay and now his intrest is worth more than his house.....stupid goy"

what should happen is the debtor gets evicted and placed in public houseing or car repoed or whatever, all intrest debt forgiven and whatever he has payed OVER his original agreement in intrest slavery, in this case 50k, and the house to be sold to make federal monies.

the second choice warrants payment of what is lended

So why would anyone lend money, taking a risk of default, if they could just keep it and get the same thing?

>too much of a retard to know what debtor means
You should be in jail

>So why would anyone lend money,

the motivation(s) is/are subjective
also "maybe they wouldnt"
there should be no need to lend

do you need take a break?

So fuck new investment, fuck homeownership (if you're not a millionaire), fuck stimulating the economy, fuck keeping a working government during a bust economy. Do you want to abolish capitalism? It's simple equation: some people have money they don't need to spend right now, while others could spend money productively (i.e. investment) but don't have it. Interest allows both to profit, thus growing the economy. What's wrong with that?

>strawman
two consenting adults can write up any contract they want bud. I see no strawman, are you afraid of matches by chance?

all that need not at all necessarily go away
you are to enamored of the status quo

you see no strawman because you dont know what it even means

I'm 21, unemployed, and have over $35,000 of credit card debt. The dumb fucks keep giving me more money even though I've never held a job. When it dries up I'm declaring bankruptcy. I don't own a house or a car and personal goods under $8,000 are exempt from repossession in my province.

Get fucked capitalism.

you're the one who mentioned selling your kids. I just said people should be able to contract out what ever they wish.

p.s.
interest as we know it is not necessary for any of that

it is but one path
and a cancerous one at that

sell shares of stock

>whatever they wish

>but not kids

>"whatever" somehow doesn actually mean what is means

R u retarded?

You are scum

>thinks debts can be paid from prison
SHUT THE FUCK UP

So what would you propose to replace it?

Yeah, when I'm going to buy a house I'm going to sell shares in my career, and US government should just get listed on NYSE. Don't you see a limitation there? And what's exactly so wrong with interest?

stay buttmad, and keep the """arguments""" commin

anything that motivates people to progress, to better themselves/others, aside from greed

reading is fundamental
the question was wrt businesses

So what would you propose to replace personal and government debt?

Literally one of the principles this country was founded on was that debtors prisons are an affront. If you don't like it gtfo.

>2016
>believes in capitalism

t. (((Goldberg)))

Are you just mad you play the bank's games instead of using them for yourself?

Risk of default exists when they extend me credit, but they keep doing it. Maybe they should have higher standards, but on paper I've never missed a payment so I'm a gold star customer.

investment by insurance companies, banks, fed loans, etc., are and should be treated as risky endeavors. this is just part of our economy. if corporate personhood is a thing, then corporations are responsible for the consequences of their lending decisions.

>People should be jailed for being unable to pay debts

Why? How does this benefit anyone? We specifically made debtor's prison illegal for a reason.

Bankruptcy attorney here, pls no

Make 180k a year plus bonus. Hours suck tho

Then she should also ban lending and taking lends.

IT PUTS THE FEAR OF GOD INTO ANYONE WHO DARES TO NOT PAY

and anything that goes against capitalism, which is perfect in every way, is pure evil and must be punished as such

capitalism is a temporary process by which industrialism is used to frogleap civilization to a state of post-scarcity. while capitalism is necessary to accommodate this, it cannot, by its own self-limiting factors, last indefinitely, nor should it

Edgy

oh for fucks sake you're on Sup Forums
the guy is a retard
he had a random thought in his head & posted it
how can you take this shit seriously