Debts that can’t be paid, won’t be. A little sanity from Michael Hudson.
(h/t Edward Harrison – twitter @edwardnh)
Filed under Uncategorized
It’s kinda like pinball isn’t it: the score doesn’t count when the table is tilted……………………………………………time to start a new game anyway. Does anyone here know the details of the Soviet Union’s post break-up redistribtion of wealth program that gave everybody equal “shares”, in the form of chits, to the citizenry? I read somewhere that within a year the country was owned again by pretty much the same bureaucrats that ran the Union all along. My impression is that the ex-KGB guys formed the basis of the current Russian Corpocracy. How far off am I , exactly?
I’m not enough of a student of that era to comment intelligently, but if you’re not far off I wouldn’t find that at all surprising.
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