General Discussion
In reply to the discussion: WTF ...10 [View all]davidthegnome
(2,983 posts)What would happen to the student loans? If we consider the overwhelming amount of debt, and the likelihood that it will ever shrink significantly as opposed to growing significantly... those student loans have been a looming crisis for quite some time now. I'm sure we all know people who owe student loans and do not have the means to repay them. I don't just know some of those people, I AM one of those people. This doesn't stop the threats of wage garnishment, or the fact that, even if you file for bankruptcy, that debt remains.
If the student loan debts vanished overnight? All of that debt, all of that money? Well, I'm no economist, but I suspect it would be disastrous for the economy. The thing is, that kind of crash is coming sooner or later anyway, it's impossible (I hope) to keep this going indefinitely. The student loan debt, the medical debt, the overwhelming overall debt of the American people.
In a Nation where millionaires (the upper portion of the 1%) pay many of their employees minimum wage and are worshiped as job creators. Where people who need help buying food, or just surviving are blamed for all of society's woes. A Nation that is ignorant enough to be mad at all the wrong people.
Hell, we can't even succeed in raising the federal minimum wage to a level that it should have been raised to many years ago. We couldn't even get a public option into our healthcare system. The rich pretty much own this economy - and they are breaking it, they're basically raping and pillaging at this point, squeezing for everything they can get before the shit really hits the fan - and it will. That's pretty much inevitable.
My honest belief is that the shit is going to hit the fan HARD sooner or later. Through progressive action now through, through working towards what we want... we might have more of a say in what kind of Country we're living in after we clean up the shit.
I think we could (and should) look to Scandinavian Countries for ideas about progress, growth, and overall success. They indicate very strongly that progressive ideas and policies can not only work - but work wonderfully. Hell, maybe I'll move to a Scandinavian Country myself. If I could be a Citizen, I'd have access to great healthcare, to higher education that wouldn't break me and leave me in debt for decades. To a system of law and work that seems to benefit the common people, as opposed to only the very rich.