Bill--sorry for this belated response to your comments of January 29, 2003:
My understanding of Social Credit is that it is to entirely eliminate the need for consumer debt over the global (i.e., national) economy. You have asked somewhere if I would have one wait thirty or so years before buying a house in order to save the required money for purchase. Yes and no. A house is a FINAL CONSUMER product. How does it differ from a watch, a pair of shoes, a computer or a car? It is a larger item, but, nevertheless, a final consumer product. The final physical costs of these items are ALL provided in full when the items are completed and ready for consumer purchase--and the full amount of effective demand should be in the hands of consumers as a whole to collectively purchase them without financial debt. There is no need for new consumer debt credit to facilitate this purchase. However, if Sam has a large financial income but simple physical or lifestyle needs, and Harry's eyes are bigger than his pocketbook and is eyeing a Lamborghini there is nothing in Social Credit to deny them from arranging a contract in which Harry borrows money from Sam repayable in the future for this or some other item that exceeds his current financial ability to immediatelly pay. Nevertheless, when I was much younger about a half century ago, I can assure you that anyone in the community who had personal debts was looked at somewhat askance as a rather irresponsible, unreliable and possibly less than completely honest individual. When you take of someone else's substance, how can you ensure that recompense will ever be made? How do you know that you will even be alive to meet your obligation? How do you know that a pledged asset will even remain in existence or retain its worth? Are we Gods that we can predict and ensure future events? Not, I believe, in the nature of Christian belief. In those days over fifty years ago, in Canada consumer debt was about five percent of annual income whereas it is now well over one-hundred percent, as in your own country and other developed nations. Of course, we know from the Social Credit analysis that increasing consumer debt is inevitable under orthodox debt finance if the economy is to be allowed to function. But that would be drastically changed under Social Credit policy and the time span to save for various items would be increasingly shortened. We know of people who even today, by living very frugally and denying themselves access to readily available consumer goods, manage to avoid personal debt--although whether realizing it or not, they all bear the burden of public debt. In my lifetime, I have personally paid for at least two new automobiles with cash and in the past some individuals have managed to pay for modest homes with cash. This has become completely impossible for most people to do but Social Credit would reverse all of this. Because of our extended mental slave conditioning under the existing system of debt finance and the perverted metaphysics which accompany it, it is sometimes difficult to envisage or accept the radical nature of the new civilization into which Social Credit would project us. The future nature of this dispensation we cannot, of course, begin to fully appreciate or predict at this time in history. I rememeber once while conversing with the late L. (Leslie) Denis Byrne, he said while smiling, "Money will flow like water." That is dynamic versus static economics--although it was, I confess, somewhat of a mystery to me at that stage of my understanding. Sincerely Wally [EMAIL PROTECTED] wrote: > I have inserted some comments below in reply to Dan Parker [in reply] > and a brief reply toward the end to Wally Klinck. Bill > -------------------- > > > > >[in reply to Wally] The need for consumer credit will not be eliminated. > > >Consumers should have the right to balance their current consumption > > >with their lifetime income, so you don't have to, for example, work a > > >lifetime to save the money to purchase a house. Consumer credit allows > > >you to live in it now and pay for it over your lifetime. Likewise for > > >cars and college educations. What will be eliminated is the incessant imperative for firms to shift debt from their backs onto the backs of consumers to inflate fictitious profits in payment for chattels that are headed for the landfill. Bill -- ==^================================================================ This email was sent to: [EMAIL PROTECTED] EASY UNSUBSCRIBE click here: http://topica.com/u/?a84IaC.bcVIgP.YXJjaGl2 Or send an email to: [EMAIL PROTECTED] TOPICA - Start your own email discussion group. FREE! http://www.topica.com/partner/tag02/create/index2.html ==^================================================================
