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My biggest complaint in this (as a student loan borrower) is that they postponed this shit for years, and I didn't make any payments during that time so I wouldn't have to jump through hoops to get reimbursement if this forgiveness plan was actually implemented, so now instead of having interest-free payments going during this time, I'm going to have to start where I was in the beginning.
This could just be my own stupidity, but making a promise that would completely negate the need to make payments made me hold off on making payments.
Student debt cannot be simply expunged through bankruptcy, it requires extra steps.
After the 2008 sub-prime mortage crisis, Hedgefunds and Banks didn't stop with their predatory behaviour, they simply shifted it around. Student loans were a prime target for that. As well as commercial mortage backed securities (CMBS) rather than the mortage backed securities (MBS) from that bubble popping in 2008.
With COVID making work from home inevitable and CMBS becoming a huge risk factor as well as student loans possibly being forgiven, the financial elites have been rotating to survive another day until they can resume squeezing your pennies out of you again so they don't have to go under.
Just a piece of the shit pie that the US financial markets are. It's just a huge rackateering ring. I'd be immensely surprised if student loans were ever forgiven or university costs socialized again in the future. It's just too lucrative to fuck young people.
Capitalism has robbed us of more than we could ever even imagine. To the point where most people don't even realize they've been robbed. It's tragic.
We live in a society where amoral, faceless corporations are more valued than actual human life. And those corporations have so much power over people, and their cognition, that the majority have been tricked into consenting to this perverted system against all of their interests. And I would love for someone to explain to me why there should ever be a distinction between the people producing something, and the people/corporations that own the means of that production. Why should these be two different groups, and why in the FUCK would the class that doesn't do any actual goddamn work, make 300x more money? It's fucking disgusting.
But on the other hand, they said they were going to lower taxes. And also, trans people exist, so........
Capitalism has robbed us of more than we could ever even imagine. To the point where most people don't even realize they've been robbed. It's tragic.
Capitalism isn’t perfect, but it’s the reason our standard of living is higher than ever. Every time we try anything else, millions of people die. I’m not sure how many more people need to die for people like you to accept reality. We need to improve capitalism, not turn to authoritarianism.
No, that argument is a complete lie. Technology is why we have a higher standard of living. Technological advancements have taken place in communist countries. They experience the same increases of quality of living as capitalist countries. This proves that argument false. Capitalism isn't responsible for technology. That's just wealthy people pushing a narrative to protect the system that consolidates wealth in their hands. Consolidated wealth at the top of the economic ladder is a well known and documented side effect of capitalism. That's why capitalism requires strong regulations, not free market dogma.
Technological advancements have taken place in communist countries.
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rofl
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regulated capitalism is very different than communism
Formulate a response of substance or fuck off. You absolutely didn't disprove a single thing I said. Capitalism didn't raise the quality of living, technology did that. Capitalists steal everything thing they can, including credit for technological advances. They've been taking credit for work done by talented engineers and scientists for many generations.
They've been taking credit for work done by talented engineers and scientists for many generations.
Those engineers and scientists were also capitalists rofl. Pfizer? Capitalist. Apple? Capitalist. Ford? Capitalist. Hell the only non capitalist quality of life enhancements we've had come from our military.
To pretend that only capitalists have invented and improved technology is an exercise in ignorance.
Sure, there have been advancements under communism. But the vast majority? Capitalism. Turns out greed is a powerful motivator.
I'll bet a million dollars your comment is based on a dogmatic belief in capitalism and has absolutely no evidence whatsoever backing it up. You're basically just making shit up as you go without looking at any data at all. With a rose tinted lense towards capitalism because that's what you were taught to never question.
I'm not gonna fall for the old sealioning "find me evidence to prove something obvious" ploy. If you ever want to educate yourself, please just google a list of inventions of the past few centuries. And then send me a million dollars.
Thanks for proving I was right. You don't have shit to back up your bullshit. Capitalism didn't invent anything, science did that. But you don't give a shit about being correct, you have capitalist dogma to spread, regardless of facts.
Tim Scott
The South Carolina senator praised the ruling as "a victory for common sense."
"You take out a loan, you pay it back. This decision frees taxpayers from shouldering debt they never signed up for," he tweeted.
Weird, I didn't get a decision to shoulder the bad debt these companies that got their PPP loans forgiven.
Or the 2008 Financial bailout on my future.
Or the 200 billion in medicare/covid fraud
These people are incapable of not being disingenuous. They're allergic to good faith. The hypocrisy has become so ingrained in these people that calling it out hasn't been an effective counter to them for years, if not decades. They simply do not care.
They care. They care about making sure that the benefits of socialism is exclusively for the elite and wealthy and totally denied to the average citizen.
So this completely shuts the door for potential federal student loan forgiveness, right? Man, I was actually still holding out hope. I didn't understand what I was agreeing to at 18. Loan forgiveness would've had such a significant positive impact on my life (+ those of my family and friends). I'm not sure why I thought something like this ever could've passed :')