Jubilee is the “writing off of debt” and liberates the debtor. We were encouraged by the banks to gamble on the rising prices of housing, a wrong assumption. Without the jubilee, the current system’s best case scenario is two decades of a Japan-like economy. Worst case is the “Greatest Depression”.
Steve Keen, an Australian economist, is now proclaiming the need for a jubilee. By and large, I agree with his assessment. However as he indicates in his interview, there is no politician on the horizon with the intestinal fortitude to lead the country in this direction. Without this leadership, we must get ready for the “Greatest Depression”. Watch the video: