Re: "Depressions, Deflation, and Debunking"

John Gelles wrote: 
> Instead of telling us to spend less, Curt ought to tell us re-write the
> instruments of debt to put the greatest risk on the lender -- not the
> borrower:

Dear John (and Cammy),

I am so of mixed minds about pointing fingers here.

Do folk borrow money because they are indolent and greedy?; or
do banks, awash with money, seek out victims upon which to
impress debt?

I will simply leave off with "Priest's adage:"

"Anything plausible operates to some degree" (circa 1982)

When we allow ourselves to see that it is neither/nor, but,
some kind of implicit complicity between borrower and lender,
will we understand the nature of the problem.  And it will
be that understanding that will help us solve the problem
for future generations.

Regards,

Curtiss
-- 


           W. Curtiss Priest, Director, CITS
   Research Affiliate, Comparative Media Studies, MIT
      Center for Information, Technology & Society
         466 Pleasant St., Melrose, MA  02176
   781-662-4044  BMSLIB@MIT.EDU http://Cybertrails.org