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Student Loan Debt Forgiveness?

Mike95060 said:
You are close. Money in all forms isn't real. It's a shared idea. Gold has limited intrinsic value. Gold only makes a human wealthy because other humans all agree that owning it has value.
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This. Exactly.

Maddevill said:
I guess it's ok to give the wealthy over a trillion dollars in tax breaks but Gawd forbid we let students off the hook for $10gs. The HORROR !!!

Mad
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Trickledown economics work though, right?! :rolleyes

HappyHighwayman said:
Never had loans. Seeing this tear the country apart is hilarious
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Without consumer credit, there would never have been a middle class in this country in the first place. A cash-only market is completely unsustainable in modern economics.
 
HappyHighwayman said:
Never had loans. Seeing this tear the country apart is hilarious
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I know right? It always cracks me up when i go somewhere and everybody hates each other!

The other really funny thing is when someone moves to another country and shows contempt for everything despite the country where they came from is a total steaming pile of shit! Oh man, I'm crackin up over here!
 
SM610 said:
I know right? It always cracks me up when i go somewhere and everybody hates each other!

The other really funny thing is when someone moves to another country and shows contempt for everything despite the country where they came from is a total steaming pile of shit! Oh man, I'm crackin up over here!
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:Popcorn
 
ScarySpikes said:
Shitty 'Analysis' is shitty.

1) This isn't costing taxpayers anything. No ones taxes have been increased to pay for cancelling these loans. It's a deeply stupid and untrue notion that exploits people having a poor understanding about how a government works and thinking that a government budget is like a households budget. We don't run a 'balanced' budget, we haven't in over a century, and having a continual 'balanced' budget wouldn't necessarily be a good thing anyway.
2) Most analysis done by people who aren't as braindead as these guys seem to be shows that this will generate more in GDP growth than it costs. even if the lie that this will be put on all taxpayers were true. If you tell someone they need to put in $2000 in order to get back $3000, they would be fools not to take that deal.
3) We are actually way better off than most countries in terms of inflation. We peaked at under 10% Year over year inflation rates and for the last couple of months that has been going down reasonably quickly. If you look at what is happening globally, right now we are doing pretty well. Much of Europe is seeing inflation in the high teens to low 20's. Some countries are going bankrupt, or have very serious worries of running out of food next year. China is going through one of the biggest financial crashes they have ever seen.

Also, if you actually had such issues with the existence of PPP or Trump bucks at the time, I certainly don't remember the repeated ridicule on this forum.
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Where do you think that they got the money to write the checks to a school for the loan that they are canceling this debt to?

Also, being “way better” in terms of inflation doesn’t mean what you’re trying to make it mean. Mythbusters proved you could polish a turd.

As for China…play with fire and you get burned. Fuck China.
 
Kornholio said:
This. Exactly.



Trickledown economics work though, right?! :rolleyes



Without consumer credit, there would never have been a middle class in this country in the first place. A cash-only market is completely unsustainable in modern economics.
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Really? Explane?
 
Explain what? That if consumer credit disappeared the market would completely crash? I would say that's pretty well self-evident.
 
Kornholio said:
Explain what? That if consumer credit disappeared the market would completely crash? I would say that's pretty well self-evident.
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Probably the last part. I think it comes with an asterisk having something to do with time.
 
Kornholio said:
Explain what? That if consumer credit disappeared the market would completely crash? I would say that's pretty well self-evident.
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Well I have paid cash for everything since the 60s......
Even my house ....I have no debt..and I still have no problem
Living in today's world........:laughing
And I can care less about somebody's market!....
Let it crash!...
 
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Kornholio said:
Explain what? That if consumer credit disappeared the market would completely crash? I would say that's pretty well self-evident.
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Wasnt that the premis of that show Mr. Robot? They hacked the banking industry and cancelled all the debt? Oops

The point is that "money" (currency) is DEBT. If all the debt goes away there would be no money at all. The economy crashes...
 
buellistic said:
Well I have paid cash for everything since the 60s......
Even my house ....I have no debt..and I still have no problem
Living in today's world........:laughing
And I can care less about somebody's market!....
Let it crash!...
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You don't use a bank card at all? ... at the store? ... the pump? ... online payments for monthly bills? I'm amazed.
 
buellistic said:
Well I have paid cash for everything since the 60s......
Even my house ....I have no debt..and I still have no problem
Living in today's world........:laughing
And I can care less about somebody's market!....
Let it crash!...
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You reckon its a good idea if everyone did that?
The growing economy is dependent on people being irresponsible.
 
Johndicezx9 said:
You don't use a bank card at all? ... at the store? ... the pump? ... online payments for monthly bills? I'm amazed.
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I have one for Safeway and freddy's to get 30c off agallon when I fill up:thumbup
And one for on line must halves....always paid off first chance...
Whenever I buy another car..... nobody complains about cash...
 
buellistic said:
Well I have paid cash for everything since the 60s......
Even my house ....I have no debt..and I still have no problem
Living in today's world........:laughing
And I can care less about somebody's market!....
Let it crash!...
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Simply put, the value of your cash and assets would crash along with it. Is this what financial illiteracy in adults looks like? "Too big to fail" is a slogan but there's a metric fuckton of meaning behind it. :laughing
 
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