“Democratic Assemblyman Ron Kim announced that he will introduce legislation to slash New York’s economic development subsidies and use the money to buy up and cancel student debt — a move he said would provide a bigger boost to the state’s economy. The legislation, says Kim, would halt any Cuomo administration offer of taxpayer money to Amazon, which could reap up to $1 billion in tax incentives if it moves to Long Island City. The deal is a goodie bag for Amazon: It includes everything from a $325 million cash grant to a promise that taxpayers will help secure a helipad for Amazon executives.”
New York Gov. Andrew Cuomo made headlines begging Amazon to site its second headquarters in the state. Now, however, prominent Democrats in the state Senate and Assembly have slammed the idea of offering taxpayer subsidies to the retail giant.
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.