Monday, February 02, 2015
Croatian Jubilee
[Posted this as part of previous entry; decided to bring it out as a separate item. This is an ECONOMIC REVOLUTION!]
While "new-fashioned" Syriza goes soft, an "old-fashioned" government in Croatia stays firm and gets the damn job done!
Polistra and friends salute little Croatia, a NON-chickenshit country!
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Why is this so important? Compound interest is UNNATURAL. Natural processes don't go exponential. Natural processes are either cyclical or sigmoid. Natural law has developed two different ways to avoid exponential explosions that kill the poor and fatten the rich. Either prohibit interest entirely, as Islam does; or use the Jubilee to zero out debts at infrequent intervals. When practiced consistently, each method helps to balance the scales. Islam directly prevents interest from running out of control. Lenders can charge a service fee, but the fee doesn't compound. Jubilee halts debt AND interest; lenders recognize that their interest won't compound beyond a certain limit, so they prepare accordingly.
Croatian government have gotten creditors on board a plan to erase the debts of some 60,000 poorest citizens. The “fresh start” scheme targets less than 1 percent of the entire debt, but is hoped to boost the economy in the long-term. The unorthodox measure was voted for by the government on January 15 and comes into force on Monday. To be eligible to participate debtors must have no savings or property, have a debt no greater than about $5,100 and live on welfare or an income of no higher than $138 per month. "We assess that this measure will be applicable to some 60,000 citizens," Deputy Prime Minister Milanka Opacic said as he was introducing the bailout. "Thus they will be given a chance for a new start without a burden of debt."JUBILEE! BEAUTIFUL!
Polistra and friends salute little Croatia, a NON-chickenshit country!
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Why is this so important? Compound interest is UNNATURAL. Natural processes don't go exponential. Natural processes are either cyclical or sigmoid. Natural law has developed two different ways to avoid exponential explosions that kill the poor and fatten the rich. Either prohibit interest entirely, as Islam does; or use the Jubilee to zero out debts at infrequent intervals. When practiced consistently, each method helps to balance the scales. Islam directly prevents interest from running out of control. Lenders can charge a service fee, but the fee doesn't compound. Jubilee halts debt AND interest; lenders recognize that their interest won't compound beyond a certain limit, so they prepare accordingly.Labels: Natural law = Sharia law
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