In line with our previous post, we are pleased to offer an agenda — “A Proposed Demand for Occupy Wall Street offered up at Salon by one Alex Pareene (rhymes with “careen,” as in “like a drunken sailor,”) who writes with a straight face:
Household debt is at 90 percent of GDP….So my immodest proposal is simply this: Individuals and households in the bottom 99 percent who owe debt to any large financial institution that received federal government support during and after the 2008 crisis should see their debt forgiven. That would certainly stimulate the economy, as most people would suddenly find themselves with a great deal more money to spend on iPads (and food, and clothing, and housing, and healthcare). The debt can be forgiven by decree or if the government really wants to it can step in to pay it itself; I don’t much care either way. (Though it’d be nice to see it just wiped off the books, to enrage the banks.)
Breathtaking, isn’t it? This one of those things where you wish you had the power to actually let this happen, watch the horrendous cataclysm that followed, throw the author to the mob, watch them eat his heart and liver — and then push a “reset” button.
Normally, I wouldn’t pay much attention to something like this, but the comments on the article actually cheer this nitwit on — which gives us pause. We had thought the number of people out there that were this woefully clueless was governed by some sort of Darwinism, but apparently not. They seem to be legion.
Does it occur to Mr. Pareene and his cheering throng that voiding all household debt to the nation’s major banks would produce an economic event of thermonuclear character and dimension? Well, he notes, if it would be that bad, then,
“if the government really wants to it can step in to pay it itself; I don’t much care either way.”
Sure. Put the government in hock for another $10 or $11 trillion. He doesn’t care either way. Until he starts wondering why his screen just went dark and people seem to be shouting outside.
But he has a point:
“That would certainly stimulate the economy….”
Yes, it would — the same way shoving a cattle prod up his nose would stimulate his scalp. Not a half-bad idea, that.
Okay — here’s a brain fart from a woeful ignoramus, and I stomp all over it. Do I have any better ideas?
Yes — for Mr. Pareene, anyway.
How about: stop looking for some deus ex machina to come in and rescue you from your ignorance, your bizarre entitlement wherein somehow you no longer have any responsibility for the debts you voluntarily incurred, stop your whining, pull up your socks and find something other to do than pen silly little rants that do little but illustrate your own fecklessness.
I feel so much better now. How about you?