tag:blogger.com,1999:blog-25740524.post6243286415637255024..comments2024-03-11T13:16:19.098-04:00Comments on Ad Orientem: In Spain there is no escape from debtUnknownnoreply@blogger.comBlogger3125tag:blogger.com,1999:blog-25740524.post-91964188039802137162010-10-28T22:07:57.165-04:002010-10-28T22:07:57.165-04:00Here in the Philippines it is actually possible fo...Here in the Philippines it is actually possible for deeply indebted people to appeal to the banks for understanding and compassion for their debts and to ask for these to be restructured or lessened; and it is no secret that while the banks will blacklist those who have "bad debts", they won't sue all but the worst debtors. (The most that Filipino banks will do is scare small debtors with phony threats.) Since we Filipinos got our emphasis on personal relations ("'who you know' trumps everything else") from the Spaniards, I'm wondering if the Spaniards don't have a similar system in approaching debt.APhttps://www.blogger.com/profile/11395966255346711744noreply@blogger.comtag:blogger.com,1999:blog-25740524.post-17637740239762379592010-10-28T21:54:14.827-04:002010-10-28T21:54:14.827-04:00Spain doesn't have a republican heritage and t...Spain doesn't have a republican heritage and therefore can't be expected to have reasonable bankruptcy laws for individuals. Her confusion mirrors the Vatican's confusion about aspects of debt, like usury.Visibiliumhttps://www.blogger.com/profile/00069726201789314963noreply@blogger.comtag:blogger.com,1999:blog-25740524.post-13226409423023390272010-10-28T09:44:34.240-04:002010-10-28T09:44:34.240-04:00Debtors will start changing their identity, immigr...Debtors will start changing their identity, immigrating, working under the table, etc. Student loan debt in the US is also non-dischargeable and the same thing will happen.<br /><br />There is a tidal shift occurring in the minds of the debt-strapped middle class. They are starting to just walk away from debt. The banks which leveraged future income from all these debt instruments are facing a tsunami.The Anti-Gnostichttps://www.blogger.com/profile/04386593803225823789noreply@blogger.com