Great article and interview from Luke O'Brien here that pretty much encapsulates the student-loan debt crisis. You know, if JoeMala are looking to gin up some enthusiasm amongst the youngs, there are worse ways to go about it.
This crisis is multifaceted: moral, financial, economic, cultural, generational. It is scummy boomer grifters and shareholders siphoning money out of wage-slaves, while simultaneously berating them for not buying houses and starting families, as if they could afford to, as if they would want to continue overpopulating a sweaty, groaning planet that now just veers between state-size wildfires, giant floods, and an ongoing mass extinction.
Here is the thing about Navient and the rest of the student-loan weasels no one ever tells you: they don't want you to pay off your loans. Ever. Your debt is their equity. That's not polemic, that's how it really is. That's math.
The fact of the matter is that even a partial debt jubilee would inject trillions of dollars of stimulus into the lower levels of a perilously top-heavy economy, where it's needed the most. Leon Cooperman will survive quite well without another billion to add to his pile.
This is something that the Democrats need to understand if they wish to maintain any real viability going forward, much less do any actual good for the regular public. This hoarding Scrooge McDuck economy cannot keep going. The problem with predatory, oligarchic hyper-capitalism is that eventually you run out of other people's money to steal.
This crisis is multifaceted: moral, financial, economic, cultural, generational. It is scummy boomer grifters and shareholders siphoning money out of wage-slaves, while simultaneously berating them for not buying houses and starting families, as if they could afford to, as if they would want to continue overpopulating a sweaty, groaning planet that now just veers between state-size wildfires, giant floods, and an ongoing mass extinction.
Here is the thing about Navient and the rest of the student-loan weasels no one ever tells you: they don't want you to pay off your loans. Ever. Your debt is their equity. That's not polemic, that's how it really is. That's math.
The fact of the matter is that even a partial debt jubilee would inject trillions of dollars of stimulus into the lower levels of a perilously top-heavy economy, where it's needed the most. Leon Cooperman will survive quite well without another billion to add to his pile.
This is something that the Democrats need to understand if they wish to maintain any real viability going forward, much less do any actual good for the regular public. This hoarding Scrooge McDuck economy cannot keep going. The problem with predatory, oligarchic hyper-capitalism is that eventually you run out of other people's money to steal.
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