So as so many of us now have to take on debt to survive, is it actually the case that in a rotten system the 1% always need an indebted 99% to fund their unearned lifestyles? So what is the real relationship between debt, humans, and how we chose to live as a society.
For millennia we’ve been told that Jesus Christ died for our sins. But what if as a social reformer Jesus was killed because he was talking about reforming the economics of his day?
People have been led to believe, wrongly, that their personal financial circumstances will improve when the federal budget is in surplus but the opposite is true. A federal surplus occurs when the government taxes more than it spends, (and what the hell point is that?). The net result is billions of dollars being sucked out of the economy.
Artists and film-makers Hilary Powell and Dan Edelstyn took over a co-op bank to enact community driven debt relief, by the people for the people, in a bid to educate the public about how money and credit are actually created. And instead of putting the Queen on their money, they are making heroes out of the Garys, Sarahs, Tracys and Steves who are fighting for economic justice amid the fallout of the current system we are forced to live under.
The last thing anyone would have expected in 1970 is for the lowest paid workers in the US, UK and Australia to have their relative positions deteriorate over the next fifty years. Yet, this is exactly what has happened. In an economy which has for many years been productive enough to end absolute poverty for good, millions of people have been left in financial hardship, for reasons rooted not in economics, but ideology.