Iceland forgives mortgage debt of its population

  • metta

    Posts: 39112

    Apr 14, 2012 7:44 AM GMT

    Iceland forgives mortgage debt of its population







    BTW, I'm not suggesting that other countries follow suit. I just thought it was interesting. I have not seen this done before.
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    Apr 14, 2012 9:24 AM GMT
    All very heartwarming, but Iceland still owes $8bn to the UK and the Netherlands, none of whose citizens have had their mortgage debts forgiven.
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    Apr 14, 2012 10:07 AM GMT
    Ex_Mil8 saidAll very heartwarming, but Iceland still owes $8bn to the UK and the Netherlands, none of whose citizens have had their mortgage debts forgiven.

    Don't you think in the spirit of forgiveness, the debt of Iceland should be forgiven? Isn't that within your philosophy, or is that different when you might have a stake in the situation?
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    Apr 14, 2012 11:36 AM GMT
    socalfitness said
    Ex_Mil8 saidAll very heartwarming, but Iceland still owes $8bn to the UK and the Netherlands, none of whose citizens have had their mortgage debts forgiven.

    Don't you think in the spirit of forgiveness, the debt of Iceland should be forgiven? Isn't that within your philosophy, or is that different when you might have a stake in the situation?


    I would love to forgive everyone's debts, but it is hardly a realistic ideal, is it? I am not sure what the mortgage debtors of Iceland (any more than the mortgage debtors of, say, the US) have done to deserve this act of government largesse. A far more sensible option would have been to reduce their mortgage payments, by extending their mortgage terms, at a lower (or zero) rate of interest . I am sure the country's creditors would settle for a similar repayment arrangement from its government.
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    Apr 14, 2012 1:47 PM GMT
    Ex_Mil8 said
    socalfitness said
    Ex_Mil8 saidAll very heartwarming, but Iceland still owes $8bn to the UK and the Netherlands, none of whose citizens have had their mortgage debts forgiven.

    Don't you think in the spirit of forgiveness, the debt of Iceland should be forgiven? Isn't that within your philosophy, or is that different when you might have a stake in the situation?


    I would love to forgive everyone's debts, but it is hardly a realistic ideal, is it? I am not sure what the mortgage debtors of Iceland (any more than the mortgage debtors of, say, the US) have done to deserve this act of government largesse. A far more sensible option would have been to reduce their mortgage payments, by extending their mortgage terms, at a lower (or zero) rate of interest . I am sure the country's creditors would settle for a similar repayment arrangement from its government.

    Quite possible, but another alternative would be to also forgive the mortgage debtors in the UK. The government could compensate the lenders, getting the money by taxing the rich and borrowing, possibly from the Chinese.
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    Apr 14, 2012 2:45 PM GMT
    socalfitness said
    Ex_Mil8 said
    socalfitness said
    Ex_Mil8 saidAll very heartwarming, but Iceland still owes $8bn to the UK and the Netherlands, none of whose citizens have had their mortgage debts forgiven.

    Don't you think in the spirit of forgiveness, the debt of Iceland should be forgiven? Isn't that within your philosophy, or is that different when you might have a stake in the situation?


    I would love to forgive everyone's debts, but it is hardly a realistic ideal, is it? I am not sure what the mortgage debtors of Iceland (any more than the mortgage debtors of, say, the US) have done to deserve this act of government largesse. A far more sensible option would have been to reduce their mortgage payments, by extending their mortgage terms, at a lower (or zero) rate of interest . I am sure the country's creditors would settle for a similar repayment arrangement from its government.

    Quite possible, but another alternative would be to also forgive the mortgage debtors in the UK. The government could compensate the lenders, getting the money by taxing the rich and borrowing, possibly from the Chinese.


    The total UK mortgage debt stands at £1.19 trillion, which would bankrupt even the rich taxpayers. The Chinese would not stump up that sort of sum for a public give-away.
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    Apr 14, 2012 3:04 PM GMT
    Ex_Mil8 said
    socalfitness said
    Ex_Mil8 said
    socalfitness said
    Ex_Mil8 saidAll very heartwarming, but Iceland still owes $8bn to the UK and the Netherlands, none of whose citizens have had their mortgage debts forgiven.

    Don't you think in the spirit of forgiveness, the debt of Iceland should be forgiven? Isn't that within your philosophy, or is that different when you might have a stake in the situation?


    I would love to forgive everyone's debts, but it is hardly a realistic ideal, is it? I am not sure what the mortgage debtors of Iceland (any more than the mortgage debtors of, say, the US) have done to deserve this act of government largesse. A far more sensible option would have been to reduce their mortgage payments, by extending their mortgage terms, at a lower (or zero) rate of interest . I am sure the country's creditors would settle for a similar repayment arrangement from its government.

    Quite possible, but another alternative would be to also forgive the mortgage debtors in the UK. The government could compensate the lenders, getting the money by taxing the rich and borrowing, possibly from the Chinese.


    The total UK mortgage debt stands at £1.19 trillion, which would bankrupt even the rich taxpayers. The Chinese would not stump up that sort of sum for a public give-away.

    Interesting that what you consistently advocate for the US wouldn't work for the UK. Do you have a double standard, or is the difference based on your knowledge of the UK grounded in reality?
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    Apr 14, 2012 3:05 PM GMT
    Let's forgive the whole world and sing kumbaya
  • CuriousJockAZ

    Posts: 19129

    Apr 14, 2012 3:15 PM GMT
    mocktwinkie saidLet's forgive the whole world and sing kumbaya



    I like the way you think.
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    Apr 14, 2012 3:36 PM GMT
    socalfitness said
    Ex_Mil8 said
    socalfitness said
    Ex_Mil8 said
    socalfitness said
    Ex_Mil8 saidAll very heartwarming, but Iceland still owes $8bn to the UK and the Netherlands, none of whose citizens have had their mortgage debts forgiven.

    Don't you think in the spirit of forgiveness, the debt of Iceland should be forgiven? Isn't that within your philosophy, or is that different when you might have a stake in the situation?


    I would love to forgive everyone's debts, but it is hardly a realistic ideal, is it? I am not sure what the mortgage debtors of Iceland (any more than the mortgage debtors of, say, the US) have done to deserve this act of government largesse. A far more sensible option would have been to reduce their mortgage payments, by extending their mortgage terms, at a lower (or zero) rate of interest . I am sure the country's creditors would settle for a similar repayment arrangement from its government.

    Quite possible, but another alternative would be to also forgive the mortgage debtors in the UK. The government could compensate the lenders, getting the money by taxing the rich and borrowing, possibly from the Chinese.


    The total UK mortgage debt stands at £1.19 trillion, which would bankrupt even the rich taxpayers. The Chinese would not stump up that sort of sum for a public give-away.

    Interesting that what you consistently advocate for the US wouldn't work for the UK. Do you have a double standard, or is the difference based on your knowledge of the UK grounded in reality?


    Please remind me what I have consistently advocated for the US.
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    Apr 14, 2012 3:41 PM GMT
    Ex_Mil8 said
    socalfitness said
    Ex_Mil8 said
    socalfitness said
    Ex_Mil8 said
    socalfitness said
    Ex_Mil8 saidAll very heartwarming, but Iceland still owes $8bn to the UK and the Netherlands, none of whose citizens have had their mortgage debts forgiven.

    Don't you think in the spirit of forgiveness, the debt of Iceland should be forgiven? Isn't that within your philosophy, or is that different when you might have a stake in the situation?


    I would love to forgive everyone's debts, but it is hardly a realistic ideal, is it? I am not sure what the mortgage debtors of Iceland (any more than the mortgage debtors of, say, the US) have done to deserve this act of government largesse. A far more sensible option would have been to reduce their mortgage payments, by extending their mortgage terms, at a lower (or zero) rate of interest . I am sure the country's creditors would settle for a similar repayment arrangement from its government.

    Quite possible, but another alternative would be to also forgive the mortgage debtors in the UK. The government could compensate the lenders, getting the money by taxing the rich and borrowing, possibly from the Chinese.


    The total UK mortgage debt stands at £1.19 trillion, which would bankrupt even the rich taxpayers. The Chinese would not stump up that sort of sum for a public give-away.

    Interesting that what you consistently advocate for the US wouldn't work for the UK. Do you have a double standard, or is the difference based on your knowledge of the UK grounded in reality?


    Please remind me what I have consistently advocated for the US.

    A left-of-center agenda, consistent with using taxes to accelerate wealth redistribution and, also, increasing the debt.
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    Apr 14, 2012 4:00 PM GMT
    CuriousJockAZ said
    mocktwinkie saidLet's forgive the whole world and sing kumbaya



    I like the way you think.


    Any other way of thinking is just cruel and heartless. I think all food at restaurants should be free too. It just doesn't seem kind to make people have to pay for food when there's so much abundance on this earth. Loooove and peeeaaaace prevail! *dances around with a flute and straggling hair with a straggly beard*
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    Apr 14, 2012 4:02 PM GMT
    socalfitness said
    A left-of-center agenda, consistent with using taxes to accelerate wealth redistribution and, also, increasing the debt.


    I do not have an agenda, just my own opinions. In fact, I distinctly remember saying in another thread:

    1. You guys will have to find some political consensus on the economy. The US has never been so politically polarised.

    2. Spending will have to be cut and in areas that once appeared sacrosanct.

    3. Taxes will have to be raised.

    4. You are going to have to lose the attitude that military force is the answer to most international crises. It is not and it is very expensive. Diplomacy is far more effective and a lot cheaper.

    The US can remain a powerful democratic nation, cut its deficit and continue to be a force for good in the world, but only by taking some more pain in the short term.


    Here's the thread.

    http://www.realjock.com/gayforums/1657944/
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    Apr 14, 2012 4:30 PM GMT
    Ex_Mil8 said
    socalfitness said
    A left-of-center agenda, consistent with using taxes to accelerate wealth redistribution and, also, increasing the debt.


    I do not have an agenda, just my own opinions. In fact, I distinctly remember saying in another thread:

    1. You guys will have to find some political consensus on the economy. The US has never been so politically polarised.

    2. Spending will have to be cut and in areas that once appeared sacrosanct.

    3. Taxes will have to be raised.

    4. You are going to have to lose the attitude that military force is the answer to most international crises. It is not and it is very expensive. Diplomacy is far more effective and a lot cheaper.

    The US can remain a powerful democratic nation, cut its deficit and continue to be a force for good in the world, but only by taking some more pain in the short term.


    Here's the thread.

    http://www.realjock.com/gayforums/1657944/

    Ragarding raising taxes - Disagree with you completely. The US now has the highest corporate tax rate in the world.
    http://www.usnews.com/opinion/blogs/economic-intelligence/2012/04/02/worlds-highest-corporate-tax-rate-hurts-us-economically

    "Diplomacy is far more effective ...." Replace the "is" with "can be". UK and USSR learned that lesson all too painfully with Hitler. You couldn't have forgotten your history so completely. Present day - all the negotiation in the world by itself will not prevent Iran from getting nuclear weapons. Maybe that along with tough sanctions might have worked, but there was no consensus among the countries.
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    Apr 14, 2012 4:54 PM GMT
    socalfitness said
    Ragarding raising taxes - Disagree with you completely. The US now has the highest corporate tax rate in the world.
    http://www.usnews.com/opinion/blogs/economic-intelligence/2012/04/02/worlds-highest-corporate-tax-rate-hurts-us-economically

    "Diplomacy is far more effective ...." Replace the "is" with "can be". UK and USSR learned that lesson all too painfully with Hitler. You couldn't have forgotten your history so completely. Present day - all the negotiation in the world by itself will not prevent Iran from getting nuclear weapons. Maybe that along with tough sanctions might have worked, but there was no consensus among the countries.


    Well, money does not grow on trees and I doubt you will be able to pay down the debt without raising taxes (everyone's taxes, that is).

    I am not saying the US should hugely reduce its military strength, only that it should be a little more careful about where it chooses to apply it. For example, is there a need for the USN to have 11 operational aircraft carriers at any one time? You could probably operate almost as effectively with 6.

    I do not like the idea of Iran having nukes any more than you do, but we may just have to settle for a world in which Iran has a nuclear weapon. The alternative would probably cause a world oil crisis. We saw the paranoid Soviets convert from a communist state to a democracy, during which period they had hundreds of nuclear weapons aimed at the West. The Iranian government in its present form is unlikely to be around for many more years. Unlike Hitler, the Iranian government can be contained to a great extent.
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    Apr 14, 2012 5:13 PM GMT
    Ex_Mil8 said
    socalfitness said
    Ragarding raising taxes - Disagree with you completely. The US now has the highest corporate tax rate in the world.
    http://www.usnews.com/opinion/blogs/economic-intelligence/2012/04/02/worlds-highest-corporate-tax-rate-hurts-us-economically

    "Diplomacy is far more effective ...." Replace the "is" with "can be". UK and USSR learned that lesson all too painfully with Hitler. You couldn't have forgotten your history so completely. Present day - all the negotiation in the world by itself will not prevent Iran from getting nuclear weapons. Maybe that along with tough sanctions might have worked, but there was no consensus among the countries.


    Well, money does not grow on trees and I doubt you will be able to pay down the debt without raising taxes (everyone's taxes, that is).

    I am not saying the US should hugely reduce its military strength, only that it should be a little more careful about where it chooses to apply it. For example, is there a need for the USN to have 11 operational aircraft carriers at any one time? You could probably operate almost as effectively with 6.

    I do not like the idea of Iran having nukes any more than you do, but we may just have to settle for a world in which Iran has a nuclear weapon. The alternative would probably cause a world oil crisis. We saw the paranoid Soviets convert from a communist state to a democracy, during which period they had hundreds of nuclear weapons aimed at the West. The Iranian government in its present form is unlikely to be around for many more years. Unlike Hitler, the Iranian government can be contained to a great extent.

    Many believe reducing taxes increases revenue:
    http://taxfoundation.org/blog/show/26905.html

    As far as Iran with nukes - many leaders from many countries consider that to be very dangerous - I'll just leave it at that.
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    Apr 14, 2012 6:17 PM GMT
    mocktwinkie said
    CuriousJockAZ said
    mocktwinkie saidLet's forgive the whole world and sing kumbaya



    I like the way you think.


    Any other way of thinking is just cruel and heartless. I think all food at restaurants should be free too. It just doesn't seem kind to make people have to pay for food when there's so much abundance on this earth. Loooove and peeeaaaace prevail! *dances around with a flute and straggling hair with a straggly beard*



    Christ thought food should be given freely too. Is he the one you're describing with the flute?

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    Apr 14, 2012 8:08 PM GMT
    mocktwinkie said
    CuriousJockAZ said
    mocktwinkie saidLet's forgive the whole world and sing kumbaya


    I like the way you think.


    Any other way of thinking is just cruel and heartless. I think all food at restaurants should be free too. It just doesn't seem kind to make people have to pay for food when there's so much abundance on this earth. Loooove and peeeaaaace prevail! *dances around with a flute and straggling hair with a straggly beard*

    During the Great Depression of the 1930s, my Grandmother had a restaurant in New Jersey in a beach town. She related stories of people who came into the restaurant asking if they could wash dishes for food. They were hungry but had no money to pay. She told them they could eat and pay when times got better, never expecting or really caring about being paid. Eventually her business failed and she had to close the doors.

    What many on the left fail to understand, or, more likely, choose to not understand is there is a difference between compassion, having a government or private safety net, and wholesale government entitlements.
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    Apr 14, 2012 8:51 PM GMT
    What many gay men on the right fail to understand is that they would probably still be deviant criminals, had it not been for those on the left.
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    Apr 14, 2012 9:04 PM GMT
    socalfitness said
    mocktwinkie said
    CuriousJockAZ said
    mocktwinkie saidLet's forgive the whole world and sing kumbaya


    I like the way you think.


    Any other way of thinking is just cruel and heartless. I think all food at restaurants should be free too. It just doesn't seem kind to make people have to pay for food when there's so much abundance on this earth. Loooove and peeeaaaace prevail! *dances around with a flute and straggling hair with a straggly beard*

    During the Great Depression of the 1930s, my Grandmother had a restaurant in New Jersey in a beach town. She related stories of people who came into the restaurant asking if they could wash dishes for food. They were hungry but had no money to pay. She told them they could eat and pay when times got better, never expecting or really caring about being paid. Eventually her business failed and she had to close the doors.

    What many on the left fail to understand, or, more likely, choose to not understand is there is a difference between compassion, having a government or private safety net, and wholesale government entitlements.

    -----------------------------------------------------------------------------------------

    Mock does have a point that forgiving everyones mortgages is totally unrealistic, same as it would be for everyone to expect to eat free.


    But the amazing thing to me SoCal is that you actually believe your bullshit talking points.There is no such thing as "wholesale government entitlements" SoCal, and had there not been the current safety nets over these last few years we'd have 1930's depression level of poverty right now.

    With so many working poor it just happens to be a fact that it is an impossibility for those families to afford their own "private safety net".

    There is only so much money circulating at any one time, circumstances, some good luck, wisdom and some hard work do come together for the few to do very very well. Most will never see such opportunities come together to even take advantage of, others still, wouldn't recognize opportunity nor take advantage of them if it knocked them in the head.

    So like with Insurance which repubs like because its for profit, the government has come up with non profit insurance so to speak, for society's less fortunate members to pay into and take advantage of to avoid utter poverty. Such as Social Security, Medicare and etc.

    I dare say if the US stopped its godam expensive and useless war adventurism and trying to pay for policing the world, that we could put our attention on the problems at home and fixing the Safety net problems and we'd be one hell of a lot better off, and one hell of a lot less money being spent on holding off enemies (supposed terrorists) that our adventurism has made for us.


    Even then though, we shouldn't be forgiving everyones mortgages,



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    Apr 15, 2012 4:39 AM GMT
    meninlove said...

    Christ thought food should be given freely too. Is he the one you're describing with the flute?

    icon_wink.gif


    Christos Anesti! Kalo Pashcha!

    Greek-Orthodox-Easter-Eggs-image-getty.j