Sooo... what if we created a separate calendar called a "debt calendar".. The entire world agrees to create this calendar for debts. You can then pause or "slow down" time (i.e slow required debt payments).. So my rent is due August 5th. But since time is moving slower on the debt calendar we could reach "August 5th" but on the debt clock we are at "August 1st". We then can move the clock faster or slower depending on how well the recovery is going. What would break?
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It would be infeasible because most of the world is able to go back to work. Only America is having dramatic numbers of new cases (well, in the first world; Brazil is doing its own thing), probably due to the population's unwillingness to embrace basic science (due to their weak education system probably stemming at least in part from their refusal to make public universities free).
I would think most people would benefit from a bill being allowed to be delayed (regaurdless of wether a country is ahead or behind)... I think it would probably break things like bonds tho..