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{Economics}
joined mar 2013
share {Economics} and generate bitcoin with reference codes.
35 topics on {Economics}
jksez
by  jksez
What if Reparations for Slavery were Paid Instead of Bank Bail Outs?
I was just thinking about all the billions paid to banks to keep the economy going after they fucked it up. What if instead of that we let the banks fail and didn’t pay anything beyond deposit insurance. Then to prop up the economy we paid the descendants of slaves the same money that we gave to the banks. Wouldn’t that stimulate the economy in a way that made our society a better one instead of ever worse?
+8
raul jewel
But why is the US Federal Gov the plaintiff? They fought against slavery with everything they had, 100 years later they peacefully fought the South against segregation. I think something is owed but the feds are the good guys on this one.
Super Hans
HONESTLY I USED TO BE ON THE FENCE ABOUT REPARATIONS COS ALTHOUGH THERE WERE GRAVE INJUSTICES DONE HOW DO YOU IDENTIFY WHO TO GIVE THE MONEY TO? AND THERE WERE AFRICANS WHO PROFITED TO WHERE DO THEY LAY? BUT THEN I HEARD GOVERNMENTS WERE PAYING FUCKING DESCEDENTS OF SLAVEOWNERS UP UNTIL 2015! SO CLEARLY REPARATIONS WAS NEVER THE ISSUE JUST WHO WAS TO GET EM!
+1
Kingkernow
It was the loan that paid the compensation out that was recently paid off.
+3
Stinkycabbage
The MP for my old constituency (dorest) is Richard Drax, he's still sitting on all the wealth and land his family acquired. He sees no problem with owning land thousands of slaves were murdered on. Dispicable person.
+3
HotMeatPie
I really like this.

All comments more or less are about the idea of reparation, and mostly I agree.

But its not about reparation despite the title, its about where to best direct a stimulus package. My Everyman understanding of the Covid downturn is that the UK exchequer has licensed uk banks to loan to pretty much anyone with a business no questions asked, money that is created in the moment of granting the loan.

Equally you could hand it out in the street or mail cheques to people whether they need it or not. Give it to the living heirs of slaves or give it to banks to hand out in executive bonuses? Who's gonna make the most stimulus with it?
+2
Chobe Industries
Bail Outs we should have been handing out jail time.

P.S
The crown raped my people and their land for a thousand years do we get a cheque I don't bear any ill will you cant rule the world by being nice but if there is a cheque knocking about I will take it, be foolish not to
+2
vetteds
Cool, where do I pick up my check?
+1
mastershake
Well I guess you're allowed to talk about this
+1
Keyop
35-45 million people are still living as slaves today, can we sort them out as well please ?
+1
ike
yes abolitionists used to buy slaves to free them, we could do the same thing...
+1
defnote
the more money you print the less its worth
+1
TalkToFrank
Instead of hand outs, maybe being given equal opportunity in the work place truly would be a better start. Just an example here but how come I see a white bloke in charge of black football teams but you’ll never see a black or any shade darker than a beach tan running an English football team.
gradient
No, it would absolutely not stimulate the economy. You're sort of just blasting a random talking point without much thought to it.

The US also has no obligation to the present generation just because of the abuse of their black ancestors - such an assertion is just ridiculous.

If you think handing out free-money like that "stimulates the economy" then you are totally wrong. In fact, you are hurting the economy and society by making light of racial issues where they already have no place.
admiralBishop
Governments hand out money its just a matter of who they give it to. In the USA they have handed money to banks and hedge funds via 0% loans.

I think reparations for stealing human beings is a better idea than this, the money will get spent stimulating the working economy rather just pumping up the stock market.
+1
Stinkycabbage
Level the playing field
+1
Leslie Wagner
It's paying back a debt that financed the country for generations. If you can't see that I think maybe glasses.
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