December 1st, 2011 
Elisheva Wiriaatmadja 
Economist and author of “Capitalism Hits the Fan”, Richard Wolff provides an In-depth perspective of the financial meltdown in Europe and its negative effects for the U.S. economy. All eyes are on Germany now to save the European debt crisis. Germany is put under pressure to open their treasury in order to save the Eurozone from the collapse. Polish Foreign Minister, Radoslaw Sikorski, said, “I demand of Germany that, for your own sake, and for ours, you help [the eurozone] survive and prosper. You know full well that nobody else can do it. I will probably be the first Polish foreign minister in history to say so, but here it is: I fear German power less than I am beginning to fear German inactivity. You have become Europe’s indispensable nation.”
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So you are in debt, you are in it up to your eyes, your family are not even aware of the situation, you can not sleep, you can not eat, so what should you do? To start with you need to have the courage to tell your partner. This is not going to be easy however it is a must. They are likely to be shocked, upset, angry, and worried however once the initial shock has passed you will be able to look for a solution together. It could actually bring you closer together, at the end of the day worse things happen.
In America: governments, businesses, individuals are now buried under a mountain of debt. A mountain of debt that will never be repaid.
Who will borrow when they can’t make the payments on the debt that they have already? The math alone calls for a system reset, a debt jubilee.
Investors are already losing… in a rigged monetary casino that rewards usury, speculation, and currency manipulation while looting main street.
There is a moral principle that debts should be honored. That is, debts between businesses that buy and sell real products, not bundled ponzi schemes, debts between individuals, between friends and businesses that know each other to be rational and moral, debts based on investments where there is a rational expectation of return.
There is also a moral principle that unjust debts should be cancelled, and usury legislated against. Debts that are ‘odious’, debts based on fraud, debts to dictators, debts arranged by oligarchs without the consent of the general population (the 99 percent who have been left out of the equation), debts based upon compound interest upon compound interest, that should have been written off long ago, the debts need to be cancelled in a general jubilee. Think outside the box. It’s time for a jubilee.
Some company who really suffer from severe debt and crisis are leads into bankruptcy. Some are having an employee lay off and cost cutting.