RoR: Forum

Good work.

I am glad you made this distinction: "Debt relief without governmental change is immoral and racist". Without reform it is unquestionably good money after bad.

Post 1

Wednesday, March 2, 2005 - 4:29pm

A very thought-provoking argument. Thank you.

Post 2

Wednesday, March 2, 2005 - 9:25pm

Great work, I would argue that risk is also part of the game and when a person makes a deal with a dictatorial regime that is later replaced with a democratic one, the people of that country have no obligation to pay for debts they did not incur.

If that country was democratic however when they accepted the debt, then they of course have the obligation to pay it back and as the protector of our rights, our government has the obligation to see that we get our money.

Post 3

Thursday, March 3, 2005 - 12:34am

Thanks for the comments. It is my first contribution and re reading it now the style is a bit strange. Also I am a bit worried by the lack of disagreement so far,somebody please get angry...!!

Post 4

Thursday, March 3, 2005 - 10:42am

Despicable honky oppressor.

Post 5

Thursday, March 3, 2005 - 11:00am

Thats more like it!

Thursday, March 3, 2005 - 12:02pm

Sorry - I can't disagree either. The need for a good credit rating (currently S&P A-) is one of the reasons why the South African government (containing ministers who are card-carrying Communist Party members) has maintained a restrained monetary policy (budget deficits in the 2-3% of GDP range, debt 37% of GDP). The (not unrelated) need for foreign investment is another. Debt write-offs will engender neither. Ironically this same well behaved government advocates the writing off of our neighbours' debt.

Post 7

Tuesday, March 8, 2005 - 3:43pm