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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.
Fun fact, one of the major reasons the elite of the 13 colonies wanted to separate from the British Empire is that a lot of them would get huge loans from banks in London under the name of a fictitious company in a given colony, close up shop, move to a different colony and repeat.
It's why the original astroturfed riots were organized in Boston and well as why the Sons of Liberty were created. Because among other things, the Stamp act would have prevented the main method they used to execute the fraud.
See the book: Crucible of War by Fred Anderson. It starts dry but is absolutely worth it.
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 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.
rofl
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.
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.