BeachMilk: Putin is absolutely correct!
🗣️ DI$CU$$ION 💬
Biden’s action of banning Russia from trading in the world’s Reserve Currency (ie the US dollar) has sent shockwaves throughout the world, and significantly eroded trust in the dollar, because other countries now know this could happen to them also.
If the US fails to retain reserve currency status, the USA is finished because that status is the only thing preventing the US from being crushed under the weight of their enormous debt.
Actually it was dumb luck and basic necessity that the student loan enslavement was allowed to occur. In the years leading up to the 2008 housing crisis the lending institutions saw the writing on the wall, their gig was about to be up, or was it? With the help of Congress in 2005 they took away a persons ability to get protection from student debt by being able to file bankruptcy from said debt. In addition to this congressional move the heads of the biggest lenders met with all of the major colleges and universities to have them increase tuitions and teaching wages rapidly. The finical burden would fall squarely on the shoulders of new incoming students via student loans. And those lenders only had to meet with a few institutions before these tuition fee/pay increases affected the entire education system due to competition.
This actually all started with the closing of most shop classes in high schools across the country in the mid-late 1990s. Forcing students who wouldn’t normally get an education beyond high school to actually get a higher education degree or incurring some form of student aid/debt to get even the most rudimentary job skill education even if it was only from a local junior college. All of this resulted in a massive jump in student related debt. With a push for high schools to get 90%+ of students into some form of education after high school this was a perfect con for lenders.
There were articles back in 2005/06 that talked about the spike in student debt that would be happening in the next few years that would ultimately replace a lenders profits from the once lucrative home mortgage side of things. Especially once the housing bubble popped.
Back in 2005 one Bloomberg business article I remember reading was literally called “The New Education Mortgage Boon” or something similar - the article has since been scrubbed but it was similarly reported amongst all the major financial news outlets during this timeframe leading up to 2008. Articles still exist if one wants to do the digital digging.
Good summarization! Luckily, I went to community college first and realized real quick what a scam it all was, but some of my friends went straight into a university and into the debt-system. These young women thought they could have their cake and eat it too. They've put off having kids because they needed to start working right away to pay off what's basically a second mortgage. Those who did manage to have children are too busy to be proper mothers and have to hand their kids off to overwhelmed daycare workers and radicalized teachers. With both parent's struggling to pay off debt, their kids' education is often overlooked as the government swoops in to program kids what to think, not how to think, turning the next generation into a cog of the system.
It's a brilliant scheme really. And this is just one of the several ways they are destroying this country. Good thing many people are waking up. I hope it will be enough.
100% correct. And it’s happened worldwide.
The only type of debt that is categorically impossible to ever discharge through bankruptcy, which makes zero sense.
As if that weren't enough, throughout your life, interest is— insanely and without justification—arbitrarily transformed into principal and added to your principal balance, as if you had actually borrowed that money!
You never did, of course. The bank just invented that enormous additional debt out of thin air to intentionally enslave you. So, the bank charges interest on interest on interest, ad infinitum. Soon the debt becomes ridiculously vast, and the borrower knows they will never pay it back in 100 lifetimes.
In this way a decision made as a teenager (the group we look to for the best decision-making skill!) haunts the once-ambitious student literally for the rest of their life, with no hope of ever getting out from under it.
Sincere congrats to all you who managed to pay it off. It's a feat to be proud of, for sure. Just stop hating your fellow patriots who aren't, because the system is literally designed to prevent doing it.
The bank DOES NOT WANT YOU PAYING OFF YOUR STUDENT LOAN. Their cash flow from you stops if you do.
Instead, they want you paying on it, with interest, on interest, on interest, ad nauseam, for the entirety of your life.
Your whole life, a subscription service to banks. They own you.