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.
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.
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.
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.
the old world is dying and the new world struggles to be born: now is the time of stripping the copper wiring out of the walls
Damn I kinda love this version
Luigify your population speedrun
I may not do a Luigi myself, but I will look the other way and make sure I don’t see anything if a Luigi is being done.
Who, Luigi? Yeah he was with me 7 states over for several days during the events in question. We decided to have a dudes rock adventure time biking trip. We left our cell phones at home and took my old ass car with limited technology camping and biked out in the great wilderness disconnected from society for a while. It was great to get away from it all and deal with life’s many stressors, you know? It’s easy to forget about things like oppressive healthcare systems and the people who run them when you’re out in nature.
Yeah it’s true, Luigi called me like two weeks before the incident and asked if he could borrow my old camping gear for him and his buddy @MemesAreTheory@hexbear.net
Hope the one missing hook on the tent didn’t cause any problems for y’all
I didn’t see it, I have no idea what you’re talking about.
if I see one in person, and it’s a legit upward-punching Luigi, I can see myself saying “no that’s not the guy”.
A lot of people might not even find it worth working if their already meager wages are garnished to pay insurmountable debts. I’ve been in a similar situation and know I considered just saying fuck it and leaving the workforce altogether.
I remember back 15 years ago they talked about taking 10% of wages for student loans for 10 years and then your debt is wiped regarless of balance left. I remember tons of conservatives flipping out at wage gouging as if paying loans is not gouging with more steps.
If you make 100k for 10 years you pay 100k but if you make 35k with your degree its only 35k. Seemed fair.
right now, that has been the deal if and only if you work for a recognized charitable non-profit, aka public service.
also, they suck at administering this public service program and it has been rife with fuckups from all of the lowest-bid loan servicers they outsourced it to and then had to take it away from for screwing it up.
Let me guess, the government decided they couldn’t set up the public service themselves and instead decided to mostly use it as a way to funnel grants to “non profits” and get cheapish labor in them
precisely.
I was visiting Cuba and talking to this local dude there about higher education and he said, in Cuba, “school is free, but you must do public service to pay it back” which he was unenthusiastic about. I asked “how long?” he said it ranged up to ~2 years for things like medical school.
I wish I could have captured his face when I said the US has a similar program. but it’s all programs, it’s 10 years of public service and they take 10% of your monthly takehome pay for those 10 years.
and if you’re short by 1 month, you still owe everything. and the loans are all at interest from 3-7%.
"The Dracula factory demands more intergenerational financial vampirism to stay solvent.
Sorry kids."
++A man who has nothing can still offer his life++
++ Even if you die a thousand times, you will not have paid even a fraction of your debt to the Emperor.++
Thoughts for the day
One can not garnish with what one does not have.seize deez nuts
All hail Joe Biden in all his glory!
