People who have problems paying their bills will be forced to the black market. They won't repay the sharks either. They will have their legs broken. They will learn. If they continue on the correct path, they can eventually get out of their mess and become normal productive members of society and be legit.
In the meantime, all sorts of jobs are created in other industries as the result, ranging from law enforcement to the medical field and of course government jobs in courts and welfare offices. Stimulates the economy. Think infrastructure.
I readily concede that a spike in the number of broken legs is accretive to quarter GDP and stimulates the different industries you mention. From SSI social workers to physical therapists to ambulance drivers to ambulance chasers, all will benefit from crippled deadbeats who now have no means to pay for any of these services--but someone will pay.
Is society really better off by replacing well-lighted pawnshops and check cashing with loan sharking and leg breaking?
If so, we should consider releasing the vandals and arsenists then if we really want to get this economy going--we don't have the luxury of waiting for the good fortune of a natural disaster to produce billions in new construction projects.
They are NOT the same - buring a building hurts someone who doesn't deserve it. Breaking the legs of deadbeats is just good clean fun.
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Topic: Fred93's blog - 03/01/09 late loan stats update (Read 13614 times)