Debt Refinancing for Dummies

Debt holders --the "Markets"--have two choices:

  1. Suicide by Congestive Heart Failure: Keep refinancing at higher interest rates because of the increasing risk of default by borrowers who are paying more and more of their income to debt-related interest costs--a vicious cycle that will lead to
    1. recessing economies with more jobless workers rather than grow jobs, and,
    2. escalating inflation as more banks are re-capitalized with out-of-thin-air funny money,
    3. escalating loss of all principle from inflation and default, and
    4. more protests, riots, and death.
      Interest-addicted monetarist are financial leeches in their bleeding debtors with ever higher interest rates that will kill the patients. They are like the crew of a sinking ship who offer to launch lifeboats only if the passengers pay more for additional rescue-package lifeboat being launched. Foolishly, the financial crew think they can leave most on the passengers on the sinking ship as they row away ... but they forget the history of passengers with guns shooting greedy policy-makers: Bourbons, Romanovs, Ceausescu, Hussein, Qhaddafi, etc--see history lesson . Thanks to YouTube, one can view recent executions for personal reflection. Neither monetarism nor executions are the answers as they impede what needs to be done to save life on earth, the Primary Moral Imperative.
    5. Currency is the blood of an economic body. To have it circulate primarily between lenders and debtors is like a heart with a hole in the lower septum that circulates most of the blood only between the lungs and heart. As a consequence, the rest of the body starts screaming for more blood to which the heart responds by pumping faster and enlarging until it collapses from congestive heart failure. This is what is happening to all currencies, with the Euro being the first to suffer cardiac arrest.
  2. Survival: Convert or re-time all debt into lifehour bonds (a la Central Banks, Fannie Mae, Freddie Mac and Sallie Mae) with profit-sharing repayment wherein debts are repayed by 50% of income beyond cost of living deduction. In conjunction with whole plan's optimal workweek, education reform, and community healthcare, the principle will not only be kept intact but increase in the material value of each lifehour (symbol and substance) will make the principle worth more in the only real value of any currency, that is, the current problem-solving time of the workers.

    The above suicide approach is suicidal because it focuses on increasing the accumulated symbols of past worktime at the expense of increasing worktime: decapitalism and necronomics. In bleeding every economy to death, monetarists--money making money--are destroying the infrastructure and lines-of-communication needed to initiate the Manheaven Project to fulfill the Primary Moral Imperative of saving life on earth.

[A timistic note: Since money is time, changing interest rates is really re-timing a lender's time to borrower's time to earn symbols of time to return/repay time. If the borrowed time exceeds the borrower's disposable worktime, a timistic cancer exists which will de-time both lender and borrower. If the lender wants to live rather than die he should re-time in a way that guarantees the survival of the borrower. Self-survival is why lenders should be the first to champion lifehour debt re-timing and profit repayment. The lenders have the most time to lose. History shows when a critical mass is reached, the existential meltdown does not only consume economic, political and social institutions "too big to fail" but the angry borrowers in their rage consume the top policy-makers.]

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