@djsumdog You can just forgive the debt. It goes unpaid but that fact is unpunished. It's called a debt jubilee. In this scenario, the true loser is the lender.
I'm fine with that too, so long as you fucking pay your debts and don't expect 85% of America to pay off the debts of the 15% entitled University brats with worthless gender studies degrees
Except you know that wouldn't fly. Banks have a tremendous amount of lobbying power. In 2008, congress should have told banks, "Go sell your loans back to home owners at 75c on the dollar if you don't want to fail," but they didn't. The gooberment absorbed $1 for $1 all the bad debt, which meant the tax payers funded all of that as their houses were getting foreclosed on for outright fraudulent loan agreements.
Federally subsidized loans should be phased out, so schools are forced to layoff 50% of their completely useless administrative staff and focus on offering programs people want at competitive prices.
@djsumdog I know this is an odd take but I think that the kind of permanent indebtedness where they never own anything and whatever progeny they have will inherit nothing that Xers, millennials, and zoomers are facing is just not going to fly. I think that no amount of lobbying is going to beat this. I think the banks are going to lose this argument in the end.
Millennials in particular are entering the "fuck you, pay me" phase of their lives. Even if they went $250k in debt for a retarded degree in their late teens/early twenties, they're just not going to be willing to work if the pay never amounts to having a good life. This frankly primal drive will trump everything else. They will get paid for real like they were promised, and that's after the student loan payments, or no real work gets done. Failing that they will begin unraveling the nation with nonviolent means out of spite while living off gibs. You cut the gibs off, the guns come out.
This idea that people will just tolerate being treated like garbage their entire adult lives because they were retarded when they just barely became adults is in itself retarded. It's suicidal. The bottom line will always be you need to make a good life realistic in spite of dumbass 20-something life choices to avoid wasteful unproductiveness, and you need to feed people to avoid outright violent revolution.
@djsumdog I think it will be a confluence of factors. Most people don't have student loans, but then again most people don't need to commute 100mi/day to get to their $14/hr job at $4/gal, and most people aren't paying $3,000/mo for a one bedroom with bedbugs in downtown, and so on, but most people absolutely are trapped in at least one of these completely life-destroying economic scenarios and I'm truly convinced that they're all going to be dismantled because they're all completely untenable. Like I said, there's no argument abstract and circuitous enough to get people to put up with a trash existence that yields no long-term improvement.
And yes. 15% of people getting caught in just one of these, in this case inescapable debt, is huge. Being $20,000 in debt for someone making $15hr while having to come up with rent and food and whatever else is life destroying. You seem to think that you can just tell 15% of the population to pound sand for life with no significant political consequences, and I don't mean to be dismissive here, but just no.
Only 15% of Americans have student debt though, and 2/3 of those own less than $20k (a Honda Accord's worth). The ones with $200k are 2%; doctors/lawyers who can and are paying it back.
Now there is an issue where 2~3 bedroom homes in small town America now start at $300k. I don't think that's changing, and I think that's going to be more of the breaking point: when normally people who work vocational, construction and other skilled-but-not-university jobs can't afford the homes their grandparents could doing the same amount of work.
That could be a breaking point, if it wasn't for the crazy inflation and money printing. Things could break down ... or, $300k becomes the new $150k for a house and the baseline just rises like it did in the 70s. Gas never goes back down <$1. Everyone's money has already been devalued.
The heads of states/WEF/Davos people who put this all in place want the world economy to collapse so they can replace money. I have my doubts their dreams will come through. There might be enough push back that things could stabilize, and hopefully people have learned to turn on the next set of measures (climate lockdown bullshit) .. but I don't have that faith in humanity.
TL;DR It might happen as you say, but I don't think it will be student loans that do it.
@FourOh-LLC I think it will get worse. I think we're watching the rise of Cultural Marxism, which is like the 21st century successor to Marxism-Leninism. I'm distinguishing them because even though Cultural Marxists take a lot from the Marxist playbook, they've got their own ideas and tactics that are more adapted to the times; they're not a full copy paste, but they resemble their father, the devil.
One of my all-time favorite shows is Babylon 5, and in one of the spin-offs Thirspace the plot describes the efforts by the Vorlons to discover a new dimension. In that they admit to a huge mistake, by opening the door not realizing what's waiting on the other side.
Good-will is like that, and a lot of our problems are sustained by good-doers - ignoring the fact that there is an army of opportunists and criminals behind every "charity" and "moral stance".
Cultural Marxism is propped by that army, walking through the gates basically unopposed, opened by these good-will morons.
The problem ultimately is we know exactly what they are but we’ve laid the groundwork to allow them full takeover with the full blessing of our civil system. Without decent people becoming the first to declare open violent war, they’ll take over unopposed in any meaningful way. I don’t see it happening and I hope there’s civil recourse I’ve overlooked
@leyonhjelm This will be resolved just like every other backward top down effort to control everybody: by attrition. It's a long and painful process that could take decades, but gradually people will just give these people a hard no, with the explanation that no argument can be circuitous or sophisticated enough to get them to sit down and shut up: "Fuck you, final answer." See the Soviet Union for the kind of gradual rot from the inside out that I'm thinking of
@FourOh-LLC I just don't think a lot of people will even know what they're telling no. It won't be a academic and abstract like it is with us. It'll just be situations like someone getting evicted because they lost their job for having the wrong opinion (6mo out of date from the current narrative) and, realizing they are about to go homeless over bullshit, decide to kill their boss and/or landlord. It will be millions of cases like this. Not exactly this, but like it. They won't know all the political nuances. They'll just know they got fucked and will lash out.
I support student loan forgiveness, but it must be bundled with legislation ending any and all federally subsidized student loan programs forever. Without that VERY important caveat, it's just a bandaid solution.
@Hoss Honestly even without the caveat it'll have serious consequences. Imagine being a lender and considering giving someone loans for a bullshit degree that are ostensibly inescapable, except for that one time ten years ago where they cleared the debt out of the blue because fuck you.
Every new generation has to deal with their own problems, but every problem has a solution. Otherwise humanity would be no longer around.
Facts do not change, separate civic from political, and always remember those proverbs.. you do not deserve shit, at the end of the day we are all alone, and we have to work for everything to get AND to keep.
Its not that difficult, when in doubt ask ChatGPT, Mitral or any LLM - the all agree on the fundamentals.
If you cannot master these fundamentals you will be a slave, a victim, and miserable for all your life.
@Hoss I agree with this. And I think it will happen just purely because the student debt is concentrated in the millennial generation, which is just starting to really take over for real. No amount of lobbying is going to stop this outright force of nature of people wanting to be real members of society and not just debt slaves to Jews
Another thing it must be bundled with is legislation ending this special categorization of student debt that makes it unable to be discharged through bankruptcy or even death. This takes care of the other half of the problem, as banks will no longer render people into debt slaves by funding degrees they know have a very low likelihood of a positive ROI.
Marxist-Leninism can thrive in academia, but it can't easily spread in corporate environments like Cultural Marxism can. You can think of it as a pathogen that gained a mutation which allowed it to make the zoonotic jump to a different species much more effectively than it otherwise would have.
That's one of the reasons Cultural Marxism became the successor. It has some ideological differences as well. It's way less SMASH CAPITALISM and way more long march of the institutions, if you're familiar with that term. It's also less reliant on abstruse texts and more reliant on simple word games, which low IQ swarthoids can implement and comprehend. Most importantly, it swaps out a focus on economics with a focus on identity politics, and in particular race/sex politics.
But one of the biggest reasons I want to characterize Cultural Marxism as the successor to Marxism-Leninism is that its practitioners seem to be the children and grandchildren of Marxist-Lenists, literally. You'll notice Cultural Marxists venerate Marxist-Leninists in spite of all the "problematic" things they've done. Nobody is tearing down statues of Marx even though he was "white" and he literally harped on about niggers and explicitly discussed the JQ. They don't regard Marxism-Leninism as evil or wrong exactly, just, ya know, kind of passe as far as fake counter-cultures are concerned, like punk rock and marijuana. They treat it like something their dad might be into. It's for dad and grandpa. Ya know, he had a good run, and you should be polite when he tells his stories of getting into brawls with those Nazi Skrewdriver fans or getting arrested for 5g of weed on his road trip, but it's not really pertinent anymore, and we shouldn't let him decide how things are going to be.
@Hoss@NEETzsche@djsumdog@georgetakei a simple cost benefit analysis of these bullshit degrees is all it takes to meaningfully articulate the point that banks and universities have agreed to a pact to fleece generations worth of wealth from starry-eyed kids
fucking forget about the genderqueer dance therapy major, they're a joke and get laughed straight out of the room - think of the poor fucker that got suckered into a tech degree oversaturated to the point of irrelevancy to where they're choosing service based jobs instead to pay their onerous interest rates on predatory loans
meanwhile, the universities keep doubling down on raising tuition, materials fees, opening cockmongling auditoriums or another thousand statues of Barack Obama, etc., the diversity squad just keeps piling in with the Marxist fuckery that can only exist at the expense of this same debt that's squeezed from the young, dumb kids (and their parents) who fall for this shit
banks and universities have agreed out loud that they'll continue to take advantage of a pernicious economy and a market so bloated with white collar employees that everyone just sort of falls through the cracks by default. in an increasingly unaffordable economic situation brought on by retarded policies they successfully lobby government for, the poor are made poorer slaves of the banks because they have the ear of the federal government
I agree wholeheartedly that some sort of legislation to outright prevent this sort of scummy, high interest rate lending should be a cinch if the leftist shitstains had a single brain cell left but, alas and alack We Didn't Think You'd Make It This Far.jpg