The lethal poison of debt

Usury eventually kills every company that grows through debt, and sooner or later, it will kill the economy too:

There were tears at Thomas Cook’s Peterborough headquarters today as 9,000 UK staff lost their jobs and 12,000 more around the world are also of work after the world’s oldest and most famous travel operator officially went bust at 2am.

The company’s check-in desks at the 20-plus UK airports the business flew from are shut today with all customers with holidays and flights told they are cancelled – but many will not get their money back for months. 600 high street store are also locked up today.

 Last-minute talks to try and rescue the ailing firm collapsed last night with nobody willing to service its £1.7billion debt, and the Civil Aviation Authority announced the end for the 178-year-old company in the early hours of this morning.

Boris Johnson today said that the Government had been asked to bail-out the business with £150million of taxpayers’ money but they had refused.

He said: ‘Clearly that’s a lot of taxpayers’ money and sets up, as people will appreciate, a moral hazard in the case of future such commercial difficulties that companies face.

The math of usury is clear and impossible. Real growth can never keep up with compounding interest. This is why debt is evil and why regular debt jubilees are necessary, even though the usurers use all of their power to try to prevent their victims from escaping.

Think about how many of these historical, century-old companies that are suddenly collapsing almost overnight. There isn’t any saving them. There isn’t any way out. And the catastrophic consequence of these inevitable failures is why these companies should not be permitted to grow so big in the first place.

Remember, corporations are NOT capitalism. They are government interventions in the economy, artificial creations in which the government absolves the normal legal responsibilities of the shareholders and executives.

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