Could All Debt Actually Just Be Canceled? (Studying Debt Jubilees)

Could a "debt jubilee" happen in the US? Malcolm and Simone dive deep into skyrocketing consumer debt, unsustainable government obligations (like Social Security insolvency by 2032-2034), and historical debt cancellations—from ancient Mesopotamia and Biblical jubilees to Japan's post-WWII wealth confiscation and modern "Abenomics."

They debate whether America's record-high credit card debt, buy-now-pay-later defaults, and cultural attitudes toward money could trigger a crisis, hyperinflation, or forced wealth redistribution. Is bankruptcy already America's soft debt jubilee? What should you invest in (or avoid) if things get weird in the 2030s?

Hilarious tangents include check fraud "hacks," Caleb Hammer roasts, ramen lifehacks, and why Japan pulled off drastic reforms while Venezuela and Zimbabwe collapsed.

Timestamps below! If you enjoy our unfiltered takes on pronatalism, culture, demographics, and finance, subscribe and join the discussion.

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Chapters / Timestamps

[00:00:00] Intro: Why debt & debt jubilees matter in 2025

[00:01:00] What is a debt jubilee? Historical context & ongoing debate

[00:02:00] US consumer debt at record highs – credit cards, BNPL, late payments

[00:03:00] Viral check fraud "free money hack" & financial illiteracy on TikTok

[00:04:00] Caleb Hammer clips, house hacking buzzwords, banana cost meme

[00:05:00] Welfare lifestyles vs frugality – streaming services & diapers

[00:06:00] Credit card debt ballooning at 30% interest – never repayable?

[00:07:00] Fear of missing payments & auto-pay evolution

[00:08:00] Rising defaults, socialist traction, government spending with no payback plan

[00:09:00] Consumer debt deep dive: $1.21T total, 22-24% rates, delinquencies

[00:11:00] Student loans: Only 35% paying on time post-pause

[00:12:00] Surprise: Debt not at 2008 crisis peaks (adjusted for economy)

[00:13:00] Why sentiment & unrest matter more than raw numbers

[00:14:00] US bankruptcy is lenient – already pseudo-jubilee?

[00:15:00] Government debt crisis: Social Security insolvency 2032, UK/others too

[00:17:00] Historical jubilees: Ancient Mesopotamia kings canceling debts

[00:18:00] Ancient Greece: Solon's debt forgiveness prevents revolution

[00:21:00] Medieval & early modern Japan: Multiple tokusei edicts

[00:23:00] 1297 Japan jubilee to prepare for Mongol invasions

[00:24:00] Post-WWII Japan 1946: Currency reform & 90% wealth tax

[00:26:00] Bank freezes, invalidated yen, survival-level withdrawals

[00:31:00] How it funded reconstruction & led to Japan's economic miracle

[00:34:00] When it goes wrong: Zimbabwe & Venezuela hyperinflation

[00:39:00] Biblical Jubilee every 50 years – a fair, predictable system?

[00:43:00] Modern Japan "Abenomics": Bank of Japan buys its own debt

[00:48:00] Coming 2030s crisis: Inflation likely, avoid debt-reliant sectors

[00:50:00] Defense stocks, gold, crypto as hedges? Bury it like Ron Swanson

[00:53:00] TL;DR: Consumer debt manageable via bankruptcy, but gov't unsustainable

[00:56:00] Post-episode banter & behind-the-scenes