Department of education says more than 5 million already defaulted, an additional 4 million in “late-stage delinquency”.
“Borrowers will now be expected to repay their loans, and those who don’t will face involuntary collections,” White House press secretary Karoline Leavitt told reporters Tuesday. “The government can and will collect federal student loan debt by withholding money from borrowers, tax refunds, federal pensions and even their wages.
Wow. They could just print money to bail all of these banks out, but instead they’re going to create revolutionary conditions
Henry Kissinger has only been dead for like a year and apparently there’s not a single fucking guy speaking sense to these idiots. They have no idea why the systems are there and they refuse to learn, as even Marxist economists are going “holy shit buddy are you sure you wanna do that?”
I think we’re under appreciating how cucked the average American is.
The average American is evidently very willing to engage in adventurist acts. It’s not a huge leap for them to start picking different targets.
My spouse has a nurse coworker who has six-figure student debt. She’s working thirteen-hour night shifts many days of the week to pay it off, and still studying to become an NP (which is like a super nurse and very well-paid). My spouse describes herself as “a socialist but not a communist” but she is also thankfully missing lots of liberal brainworms—a few weeks ago she mentioned that this coworker had said something about “Uyghurs,” which my spouse had never heard of. But oh man, of course I know all about it. And I was just like…you’re drowning in debt, you’re crying in front of your coworkers every day, you’re either working or studying almost every waking moment for month after month, and this is what you’re worried about? This is the kind of media you’re consuming? You hate Chinese people, you hate Muslims, but you’re very concerned about Chinese Muslims—right? And of course, not a word about Palestine from this coworker. Not a single complaint about the Democrats never lifting a finger to provide universal education or even pay people to go to school.
Whiteness just boggles the mind I guess. So many destitute Americans (many who are not white on the outside at least) will jump whenever the ruling class tells them to.
Real “If you can convince the lowest white man he’s better than the best colored man, he won’t notice you’re picking his pocket. Hell, give him somebody to look down on, and he’ll empty his pockets for you” moment.
A lot of people are fine being pissed on by the ruling class as long as there’s also people below them in the hierarchy for them to piss on.
Kissinger and his cohort were so effective because they knew what they were peddling to the public was bullshit. The new generation that’s in power now didn’t seem to get the memo—they’re true believers.
I swear to God this is the missing piece in all of the analysis that tries to explain the current predicament. We’re ruled by a cadre of magicians’ nephews who never got told how the tricks work and think that the assistant actually gets sawed in half. And here comes AI in the latest hour: the mechanical turk of the 21st century
Shit fucking rules
As is typical with capitalists, their greed comes first. They have securitized and derivated student debt much like mortgage debt in the 2000s. I’m sure there’s a way to roll all that back (besides a 2008 type crash) but not without massive costs and losses.
It’s not even about greed. If the lenders actually wanted money they’d just lobby the government to pay off the loans. Boom, student debt solved and the lenders get rich. There’s literally no downside.
But that’s not good enough!
It’s about prole control and revenge. They’re discipling the uppity poors that dared reach above their station for an education.