Demand eleven: Immediate across the board debt forgiveness for all. Debt forgiveness of sovereign debt, commercial loans, home mortgages, home equity loans, credit card debt, student loans and personal loans now! All debt must be stricken from the "Books." World Bank Loans to all Nations, Bank to Bank Debt and all Bonds and Margin Call Debt in the stock market including all Derivatives or Credit Default Swaps, all 65 trillion dollars of them must also be stricken from the "Books." And I don't mean debt that is in default, I mean all debt on the entire planet period.
Until recently, I haven’t been paying much mind to the Occupy Wall Street protests. They’re a lot like Tea Party protesters. They’re upset with the status quo, and are being quite vocal about it. But — also like the Tea Partiers — they lack a unified voice. What do they want?
That incoherence was partially solved when one activist posted a list of thirteen demands on
. It doesn’t stand for the whole movement, obviously. Some protesters are focused on different issues than the ones he chose. But it’s reasonable to assume that most of the protesters would agree with most of his demands.
From an economist’s perspective, the demands are both fascinating and disheartening. Fascinating because people who haven’t studied economics believe some really strange things; disheartening because many of the policies would hurt the very people they’re meant to help. Intentions are not results.