298 JUST IN: The Court granted our emergency motion to BLOCK Joe Biden’s entire illegal student loan plan, which would have saddled working Americans with half-a-trillion dollars in Ivy League debt. (twitter.com) posted 157 days ago by Raritan 157 days ago by Raritan +299 / -1 24 comments share 24 comments share save hide report block hide replies
Weren't we in favor of debt forgiveness?
Freeing the people from the bankers' chains?
Jubilee is inherently deflationary. Do we not want deflation?
I do, but sounds like the plan was to pay the loans back with tax dollars...? Dunno.
This wouldn't cause deflation not sure how you think that works. Giving people more free disposable income from nowhere would cause inflation
What do you think interest is?
I don't think you understand how inflation works. Money paid to interest doesn't magically spawn from nothing
Yes. Yes it does.
Every time a loan is written, currency is created from nothing, thus adulterating it.
You get loaned $50,000 at 7% interest, you owe $53,500 in a year.
Where does that $3,500 come from?
And it only compounds year after year, driving you deeper into debt.
It's a trap. Keeps you in lifetime debt slavery.
Normally I would say "loaned X, owe X."
But no. Fuck the scam.
Jubilee.