Friday, November 9, 2012

Rolling Jubilee

Rolling Jubilee: A bailout by the people for the people. Clever, I'm surprised it took someone this long to think of (and implement) this.

Right now they are buying distressed debt at a factor of 30:1 ($1 buys about $30 of debt).

Prediction: this ratio will reach an equilibrium closer to 1:1 within let's say the next five years.

Update (August 8, 2013): Currently $1 buys $20 of debt. On the downward slide we go...