Republicans only care about the debt when they’re out of power
Swelling government debt levels are shaping up to be the biggest economic challenge for President Donald Trump, a problem that could spill into the stock market.
“A recent paper by… the Levy Economics Institute found that if the government canceled the debt it owns and bought out the remaining private creditors, it would increase gross domestic product by between $86 billion and $108 billion per year over the next decade, adding between 1.2 million and 1.5 million jobs.”
How unreasonable would it be to just write off the $1.5 trillion burden?
The USA needs a student debt jubilee.
“Their economic models show that canceling student debt would lead to a boost in GDP by an average of $86 billion to $108 billion annually over the next 10 years.”
Researchers say that forgiving the $1.4 trillion of outstanding student debt could stimulate the economy while only moderately increasing the federal deficit.
Symptoms of an asset bubble :
Wildly overvalued asset ✅
Irrational behavior ✅
Speculative buying and selling ✅
Amateur / first time investors ✅
People taking on debt to buy overvalued asset ✅
Absolutely no underlying value except faith ✅
This bubble is about to burst
One in 5 consumers buy bitcoin with credit haven’t paid off the debt, a new survey finds. That can be dangerous.
Interesting altruistic market approach that crowd sources and gamifies paying down student loan debt. Apparently there is no obligation to play the game to be eligible to have one’s loans funded via the app. If only there were more businesses this concerned with helping others.
While we still support a public policy approach to fix student debt causes not symptoms, we gladly accept any market approaches with a focus on helping others.
“After factoring in charges from Braintree and Paypal, 75% of the earnings go to pay off the winner at the top of the queue, 15% to daily cash prizes and 10% to Givling.”
This fast-growing startup knows it can’t solve the student debt crisis, but it’s helping stamp out student loan debts one by one.
The student debt burdens many Millennials face will lead to wide sweeping repercussions for the future of our country. The inability to save money, plan for retirement, start a family, invest in property or to chase entrepreneurial pursuits will have disastrous outcomes on not only the individual, but the economy and society at large. It wont happen overnight, but over the course of decades. If one’s wealth is defined as all of your assets minus your debt, then we are facing a generation of whom many will have negative wealth. In a not too distant past, many states and the country in general invested public money in education because education was and is a social good. We can do this again. We believe in a merit-based tuition free public college education for all. Take pride in education and be wary of anyone who downplays its significance.
“Puerto Rico illustrates the most extreme form of neoliberal restructuring that has been imposed on many US cities following the recession. Detroit was similarly devastated by what University of California–Berkeley’s Haas Institute calls “financial governance,” a modern-day plutocracy that drives “the systemic political neglect of entire groups of people and places.” Puerto Rico, however, is even more constrained, since municipalities can at least seek formal bankruptcy relief.”
The commonwealth’s financial woes didn’t happen by accident—they were the result of decades of public immiseration and private gain.