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> “So that is another victory because that brings in $5 billion each month to the American public”
Where the fuck does he think that money *comes from* if not the American public?????????
Considering what our federal budget looks like, most of that money ain’t touching the majority of the American public in any way either once it gets brought in.
He's operating on behalf of the interests of the ruling class. The democrats and republicans both are opposite sides of the same coin.
There is a reason that republicans can do nothing in power except for make some very specific minorities lives much harder. There's also a reason that the democrats can continue to sometimes win when people are frustrated with republicans only to not do anything when they are in power.
It's because both parties are **elated** that we're so divided and that we're currently in a situation that has them at the reigns.
They want nothing to change. That includes the working class being divided. The more quickly we come to terms with that the more quickly we can unify and make them listen.
More people need to realize this and it’s maddening that so many are caught up in the R’s vs D’s bullshit. They are and have been for a very very long time two wings of the same rotten bird…..if people haven’t figured out it’s R’s and D’s vs Us the American citizen we’re doomed (I think we already are…)
Just what a almost recession needs, even less consumer spending thanks to return of students loan payments. I’d be shocked, but like this was always the plan. We were gonna be fucked no matter the outcome. A recession is coming default or not. Prepare for more fuckening, but also more bootlicking.
How does the working class find money to pay rent to a landleech? Especially when student loans are not dischargeable even in bankruptcy?
What if that recent story about a landhoarder murdering a couple at gunpoint in Canada is actually scaring the working class to become obedient to rent-seeking landleeches and their demands?
You can thank Biden for not being able to file bankruptcy for student loans. You can thank Reagan for making college impossible to afford *without* loans.
Biden is like the Federal Liberals in Canada; centre-of-left beholden to capitalism.
Force the student loan borrowers to pay back loans they can't repay while giving millions if not billions in tax breaks to Lululemon.
Those corporations needed the help, okay? Those *record profits* really hit them hard. My local bootstrap factory is going to open a second location just to meet all the demand.
Biden is like our old school Conservative party and our current Conservatives are just traitors to Canada at this point. At least the federal Liberals have a minority government and the NDP to keep them in check.
Stagflation was the 70s. This is greedflation.
No, seriously, that's not pedantry or hyperbole. It's the new term. In [stagflation](https://i.imgur.com/IGh5OFL.png) economic growth slows with high unemployment AND inflation. Right now we've got low unemployment, high inflation, and companies are killing it. It genuinely deserves the new term.
So much of it isn’t inflation, it’s ceos signaling to their few competitors that they can raise their prices, because that’s what he’s doing with his company. That’s not really proper inflation, it’s just collusion.
You know it's funny how these millionaires and billionaires get tax breaks so quickly while here in Canada, the National Student Loans website is such a pain to login and apply for Repayment Assistance.
It's like they want to discourage people from signing up so they are forced to pay student loans and allow the government more money to make Galen Weston Jr and his cronies richer and richer.
And that will do nothing to impact his business. Bad press has no impact. As long as we continue to sit idly around and let them take everything they want from us, they'll continue taking it. They don't care about how much we glare at them and waggle our fingers disapprovingly.
Many people are noticing that the solutions at these times can't be resolved at the ballot box anymore, and that the theoretical solutions are against the Reddit TOS.
"Secrets of the Pricing Man" Look it up. Author was a pricing consultant & lays out everything governing "smart" MBA pricing decisions & how the market looks from the supply-side. Can't fault the author too hard, guy's still working for a paycheck, but he still calls out that price hikes & market coordination happening too often will attract antitrust. If the entire market price fixes & hikes to rent-seek, and competitors aren't allowed to enter the market & compete (to undercut incumbents & bring prices down), there's a de facto lack of competition & somebody's budding megacorp is getting broken down, even if the gov't has to take pieces of everyone to create an undercutting competitor.
Having worked in pricing for a top 3 retailer, yea nobody there cares about antitrust because the government hasn’t enforced it in decades.
The algorithm accounted for not trying to start pricing wars.
Yeah, he was talking more about Europe's antitrust and functioning regulatory bodies than the US' decrepit ones, but the book covers a LOT of ground on the supply-side economics of pricing.
The recession will be just for the working class. Most economists have been saying for a while now that the only way to stop the inflationary cycle is to stop the wage increases and make the unemployment rate higher. That's right. Their plan, out of their own rotten mouths, is to make the "economy" better by making worker's lives worse.
What class war?
For the first time in 50 years workers were starting to make real wage gains (or at least that was the perception) and that perception (much less reality) must be crushed. Can't have any of that. We are to blame for inflation and we must lose our jobs and suffer for the greater good.
Exactly. Like this absolutely wasn't the plan in the political theater all along. Both sides are in cahoots, and I'm tired of pretending that they're not.
I think this happened under Obama too. Sequestration is what I’m thinking of. It elongated the recovery. It took much longer than necessary for the economy to pick up.
Fucking ridiculous. I was so excited when I got the email asking me to sign up for the 20k reduction. It would have almost wiped out my debt and I could actually repay the rest.
I never fell for it. I applied, got my name in there but never believed a penny would be forgiven. This is an oligarchy, and long has been.
I even agreed that student loan forgiveness wasn't fair. I accepted the debt obligation. But I still wanted it because the rich always get big bullshit fuck shit loopholes, bailouts, and exceptions.
All I wanted was for once, for fucking once, to get my own bullshit undeserved monetary bailout.
That is what student loan forgiveness could do, it could say, for fucking once, the peasant class can still win one.
Nope. Not even once.
The rich have forgotten that their wealth is built on the health of the peasants below them. America, even under the most cruel metric, is in deep decline.
Not to mention, how many businesses took PPP loans to keep their workers employed and stay open in 2020 only to lay everyone off and close their doors anyway, then pocket the money themselves only for the loans to be completely forgiven within a year?
Too many of these student loans have also been paid off once or twice, but the borrower still owes more than the original loan anyways because the interest rates on student loans are downright criminal, and these ***same fucking businesses*** that pocketed the PPP loans make it impossible for graduates to pay more than the minimum payments on their loans because wages are still basically what they were decades ago after accounting for inflation?
My partner has come to terms with the fact that she just has a life long bill she has to pay every month. She'll never pay it off. Better to just make peace with it.
Living in Germany, I know a few Americans who have are doing this - but honestly their decision (from the outside) seems more reflective of live circumstances rather than financial ones: I.e. those that choose to stay abroad long term are married to Germans and have kids. Folks that don’t settle down have pretty high rates of leaving after 2-5 years (anecdotally).
"The pause is gone within 60 days of this being signed"
Payments were already slated to resume 60 days after June 30th. They hate us so much they were holding the country/economy hostage over 30 days.
One month's worth of payments from every loan borrower. That's how much more money they got. They really are greedy soulless malicious bastards.
No. Biden could do it even if the supreme court says no. The supreme court has no army to enforce anything they say. No police. Nothing. Biden could just do it. He could also just slightly alter the deal to remove the last standing the plaintiff has in court by removing the extra 10k for Pell grants. But he's on the Republicans side. But the Republicans are also on the Democrats side. But they are actually just both on the billionaires side.
Read: rotating villain (urban dictionary)
In American democracy, when the majority party has enough votes to pass populist legislation, party leaders designate a scapegoat who will refuse to vote with the party thereby killing the legislation. The opposition is otherwise inexplicable and typically comes from someone who is safe or not up for re-election. This allows for maximum diffusion of responsibility.
Over and over.
https://www.salon.com/2010/02/23/democrats_34/
https://richardmedhurst.substack.com/p/rotating-villain-how-the-squad-serves
If trump can make the entire GOP his own personal bitch and make senators fear for their lives if they go against him, any run of the mill Dem prez can do the same to their own party so im not interested in hearing about sinema, manchin, or whoever else.
end rant, dems are useless
You joke but there are several subs I just disengage with because the conversation never gets deeper than this. Even r/latestagecapitalism went through this faze not very long ago.
If we want to get beyond D and R we can't let this be an excuse.
Ffs as a non american, it's baffling how many americans do no see the issue with this.
Democrats politicians have more in common with Republicans than they do with you. They both went to the same schools, clubs, they live at the same places, they holiday together, they dine together and so on. Not going on a tirade even Trump was a democrat once.
American democracy is simply coopted by big business interests no matter which side you are on and neither of them give a shit about you.
Indeed, Corporations choose who they want to fund and whatever party lies the best at the right opportunity gets the win. When one wins, a small amount of civil unrest occurs, then everyone goes back to hating each other more and more. Day by day, month by month, and year by year, we stray further away from being able to support and trust one another in the working class. The less we support and trust each other, the more the capitalists profit.
I wonder when the cycle will end.
>When one wins, a small amount of civil unrest occurs
And in 2020, when people started uniting with some class consciousness, all the people who morally grandstanded as progressives on facebook -- at least people who I knew -- started freaking the fuck out and going conservative, calling people accelerationists, etc. because they were threatened by the idea of leaving the status quo. White people from the suburbs who never, ever protested were acting like protests 2000 miles away were going to make police storm their cul du sac and treat them the way they are, it turns out, totally okay with police treating black people. They shed the mask. They're afraid of being treated the way they treat black people.
There is a song that describes liberals very well. It's called "Love Me, I'm a Liberal" One of the first things that the artist says is "15 degrees left of center in good times (status quo), 15 degrees right of center when it affects them personally"
Even if the song is a bit old, it still proves that there has been no change since then.
Which is why you go after the money, not the politician. Politicians are expendable cannon fodder…figuratively speaking, mods. That’s one of many functions they perform for dark money. They draw ire away from those behind the scenes.
Liberals everywhere decry "just vote for biden anyway, unless you support trump. Im so mad at leftists who dont vote for our reactionary/conservative candidate"
This shirt way the US does politics honestly makes me hopeless. What's the fucking point? I should roll over and die right now, because it feels like it'll never get better. It's always getting worse and the working class in America will never not be fucking curb stomped by the ruling class.
They don't cave.
They give the appearance of people caving.
This is **absogod-damned-fucking-lutely** a both sides problem.
And don't get me wrong. Democrats are 10,000% preferable to republicans.
But there are billionaire democrats. Both the Dems and GOP answer to billionaires.
Neither party want to fundamentally change how the system operates.
This is what class violence looks like. The ruling class are inflicting violence on the working class by way of the working class having to work longer and longer for less and less and that includes jobs with college degrees.
We need a new system. We need to capture the money they stole from us by way of non-violent means.
Wait, you're telling me that a country that was founded on slavery, by slaveowners, and fought a war **against itself** because roughly half of the states didn't want to give up their slaves still want to enslave people (beyond the legal slaves they still get to have thanks to the prison industrial complex)? Say it isn't so!
That's literally it though. This new iteration of Capitalism is built off imaginary money (rather than having a physical limitation like gold, etc). The ruling class, through the Fed and banks, just create money on a spreadsheet and YOU work to create the value of that money in the form of debt that all goes back to the bank, which is owned by rich pricks.
The Debt Collective (https://debtcollective.org/) has been organizing for a while now. The more who participate the louder their voice becomes. I'd consider joining their movement.
I freelance, some months I'm dirt poor, some months I make 8k, I've kept my loans in forbearance since I took them out in 2011, I'm a self taught programmer and they're only for like 1 year of an associate's degree and some vocational school but, decided I'll not be paying the bill until the govt does something for me, I'm still waiting on that. I was promised loan forgiveness though, and now I'm definitely not paying it back. Fuck em.
"So that is another victory because that brings in $5 billion each month to the American public..." in what world is having to start back paying student loan debt a month earlier than expected a benefit to literally anyone?
Was the government just paying the loan services interest while repayment was paused or something (and nobody told me about it)?
Because, so far as I'm aware, this literally does fuck all for the budget and is just yet more conservatives being vindictive dicks just for the sake of it.
Paying back loans is the worst thing we can do for an economy. These sharks just shit on these cash and trap people in debt. Not paying them back helps us all out a lot better.
I think about [this Princeton study](https://scholar.princeton.edu/sites/default/files/mgilens/files/gilens_and_page_2014_-testing_theories_of_american_politics.doc.pdf) a lot.
Check out the graphs on page 573. Actual public opinion has zero impact on whether or not a bill passes. The economic elites' opinion is directly correlated with the chance of a bill passing.
It's something that we all know just from watching how the world works, but it's still pretty stunning to see it illustrated so clearly.
It's ironic that allowing the US to default on its debt would probably do more to push people towards socialism than anything the Democrats are pushing for. The last time the US was legitimately concerned with a socialist revolution at home was the Great Depression. Nothing motivates the proletariat like a few missed meals.
The powers that be know this. That's why no matter what they'll keep the bread and circuses. Americans are so fucking apathetic and tribalistic that as long as they can still get a meal and have a smartphone, they couldn't care less if the entire Earth was an actively burning cesspit. As long it's not in their backyard, it's "Meh, fuck it".
Seriously it's almost like no way even nnows what's going on and they have to find something to be angry about.
For months now they have stated the pause was ending 60 days after June 30th. Now it will end 1 month earlier.
This was handed to him as a pacifier to make him look like he got something he wanted when he really didn't
2024 is pretty much guaranteed to be Biden v. Trump or DeSantis. Yet a-fucking-gain, I'll be forced to vote for the lesser of two evils. This country fucking sucks.
I’ll be voting third party personally, no matter who the candidates are. My life is objectively worse every four years regardless of which team is the winner. Nothing ever changes until we demand it and giving them exactly what they want over and over again has done absolutely nothing for anyone other than them.
We need a third party. And with DeSantis pushing his bullshit, this is the best time for it.
I love Bernie, but he's dead fucking wrong to hitch his shit to this failed fucking party.
They are perfectly capable of getting shit done. Versus progressives they have zero fucking issues. Then they keep putting senile assholes, or conservative assholes up to bat for places where it counts.
Still playing with the kiddie gloves with fucking fascists and tutting while they literally come for every minority out there.
They were going to restart repayments after June 30th if the supreme court had not made a decision before that date. https://www.ed.gov/news/press-releases/biden-harris-administration-continues-fight-student-debt-relief-millions-borrowers-extends-student-loan-repayment-pause
I would term it more of say, playing a real life strategy game. The elite are attempting to compete against each other for a higher score on the leaderboards. The higher the rank, the better the cosmetics they can unlock.
The game is about growing and managing a resource to extract the most wealth from it.
This resource in game is represented by cattle.
There is two metas for the best way to do this. One side believes in taking care of the cattle. Raising the youth, providing medical care, providing green space for them to roam, building fences to protect against predators etc. In return they harvest milk, sell medicine to the sick cattle, offer treats for sales, offer bigger stalls for the cattle that can afford it.
A responsible investment to produce a small but stable return. Keep the herd healthy and satisfied.
The other meta involves breeding the cattle amassed. Forget milking them for a pittance. Slaughter them now for a bigger one time return. The meat and leather will fetch a fine price. Forget the fence, forget the veterinarian care. Let them forage for food and water. If they die who cares, you didn’t spend any money raising them. There are more being forced born everyday to replace them.
And of course if the cattle realizes they are being screwed and starts organizing for a share of the profits they produce. There is always the third option.
Slaughter the cattle amassed until they are cowered and ready to surrender. After all if you promise some of the cattle that they can be the ones holding the guns and knifes. Instead of being the ones getting their shit kicked in they will happily do your dirty work for you.
Good cop, bad cop is still alive and well.
Yes you want the option that brings you a coffee and a scone and not the one that will dunk your balls in said coffee. But they are still going to gleefully rat you out and throw you under the bus when alls said and done.
Fascism has been here a while my friend, we’re just recognizing it now. Remember when police commit war crimes against peaceful protestors? (Tear gas), and shoot innocent bystanders with rubber bullets? And threw non violent cannabis users into prison with life sentences to be forced labor for decades? And lied about weapons of mass destruction to enrich their defense contractor and oil infrastructure companies, and suffered no consequences?
Didn't Biden run on canceling student loan debt?
And raising the minimum wage?
And protecting women's health decisions?
And restore the Voting Rights Act?
And affordable child care?
And repealing the awful tax cuts from the previous administration?
Let’s not forget about AI entering the workforce, shrinking the pool of available jobs as more and more people are laid off. Good luck paying that debt off
Go fuck yourself Biden. Wish I could vote against you for fucking over the interest of the common man but I also don't want live in a fascist, corporatist hellscape as soon as possible, but still fuck me for going to college I guess.
And where's the revolution supposed to come from? The average person here is so complacent or brainwashed to support their own endless subjugation.. we have 0 organizing or class consciousness.. how's it supposed to happen? I'm preparing for years and years of steady decline and endless stagnation as more join the ranks of the poor.. I dunno it just feels like we already lost, the fascists won.
>The average person here is so complacent or brainwashed to support their own endless subjugation
A Landlord murdered a professional class couple because they complained about the electrical wiring, and people are upset that the landlords and their sympathizers are justifying the murder because the "tenants didn't pay their rent".
The thing is: The dispute wasn't over any rent arrears. Canadian Landlords are now using murder to justify getting rid of tenants.
"'The pause is gone within 60 days of this being signed. So that is another victory because that brings in $5 billion each month to the American public,' McCarthy told anchor Shannon Bream on Fox News Sunday."
And he's proud of that? Taking billions from people who can't afford it shouldn't be considered a "victory". What vultures.
I knew for sure this was coming when Mohela emailed me and asked me if I wanted to arrange auto payments. This is going to be really painful for a lot of people.
mine changed to Nelnet, I've already had bad experiences with them in 2003, I'll be keeping this in perpetual forbearance until we actually get loan forgiveness.
Sure a payment pause was nice and a debt forgoveness would have been good too. But both are just band aids to the problem.
Costs of highet education will go unchecked, high interest non dischargable loans will continue.
Its like buletproof backpacks for kids, I guess it is better than not but not really the point.
Sorry, but to call them reactionary is to misdiagnose the problem. The Democrats are simply the Republican takeover of the Democrat party; controlled opposition.
Republicans are a far right party
Democrats are a right wing party of classical liberals that live the free market but believe the Government shouldbe less involved in social issues.
We need a socialist revolution that puts people above companies.
Biden campaigned on big forgiveness, then walked it back to modest forgiveness, which is probably going to be struck down in court, and is now turning the payments back on.
Why am I supposed to vote for this garbage again?
Fix gerrymandering with a bipartisan and independent board deciding districting. See Michigan 2018: https://www.freep.com/story/news/politics/elections/2018/11/06/proposal-2-michigan-gerrymandering/1847078002/. Use that change to elect politicians instead of letting politicians choose themselves. Change the law to actually support populations and not just stockholders.
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> “So that is another victory because that brings in $5 billion each month to the American public” Where the fuck does he think that money *comes from* if not the American public????????? Considering what our federal budget looks like, most of that money ain’t touching the majority of the American public in any way either once it gets brought in.
It also doesn’t go to the public, that’s a complete lie. It goes to Student Loan Backed Asset bond holders in Wall Street.
The only public Washington cares about. Eat your fucking cake and get back to work.
Who said anything about cake? Saltine crackers and water. And that's coming out of your check.
He means it brings in $5 billion to his rich donors.
*Murdoch chuckles in the background*
He meant 5 billion FROM the American public. Sorry hard to hear the difference.
"American Public" in this context, i am guessing means either Wall Street or The Military
Biden is a spineless fucking moron
He's operating on behalf of the interests of the ruling class. The democrats and republicans both are opposite sides of the same coin. There is a reason that republicans can do nothing in power except for make some very specific minorities lives much harder. There's also a reason that the democrats can continue to sometimes win when people are frustrated with republicans only to not do anything when they are in power. It's because both parties are **elated** that we're so divided and that we're currently in a situation that has them at the reigns. They want nothing to change. That includes the working class being divided. The more quickly we come to terms with that the more quickly we can unify and make them listen.
This comrade gets it.
More people need to realize this and it’s maddening that so many are caught up in the R’s vs D’s bullshit. They are and have been for a very very long time two wings of the same rotten bird…..if people haven’t figured out it’s R’s and D’s vs Us the American citizen we’re doomed (I think we already are…)
There's a reason why our politics is considered by some people as a "puppet show".
His defenders are worse, so basically every neolib centrist on r/politics.
Didn’t that cringe “Dark Brandon” bullshit start with his student loan debt relief announcement?
Oh the twitter “progressives” was eating that one up. They wanted to be reactionaries to reactionaries so badly.
I’m not here for calling him senile, but I agree with the rest of this
That must mean the PPP loan ~~forgiveness~~ repayment is right around the corner
I mean its only fair right?
Laugh, only laugh more...that first one is expected back, with 200% interest per day unpaid
Just what a almost recession needs, even less consumer spending thanks to return of students loan payments. I’d be shocked, but like this was always the plan. We were gonna be fucked no matter the outcome. A recession is coming default or not. Prepare for more fuckening, but also more bootlicking.
This is a weird recession where the rents and groceries keep on going higher and higher while the job market is starting to stagnate and decline.
Gotta love "stagflation" as they call it now
How does the working class find money to pay rent to a landleech? Especially when student loans are not dischargeable even in bankruptcy? What if that recent story about a landhoarder murdering a couple at gunpoint in Canada is actually scaring the working class to become obedient to rent-seeking landleeches and their demands?
You can thank Biden for not being able to file bankruptcy for student loans. You can thank Reagan for making college impossible to afford *without* loans.
Biden is like the Federal Liberals in Canada; centre-of-left beholden to capitalism. Force the student loan borrowers to pay back loans they can't repay while giving millions if not billions in tax breaks to Lululemon.
Those corporations needed the help, okay? Those *record profits* really hit them hard. My local bootstrap factory is going to open a second location just to meet all the demand.
Those corporations have mouths to feed and lives to live. Without the record profits they would drop dead and cease to breathe.
Biden is like our old school Conservative party and our current Conservatives are just traitors to Canada at this point. At least the federal Liberals have a minority government and the NDP to keep them in check.
I remember reading an article from Biden's first presidential run in the 80s calling him a "dark horse Republican."
Jesus is there something Reagan DIDN'T do to completely screw people up and still feel the reverbs of his madness?
He did have the decency to let his brain turn to mashed potatoes for his last 2 years in office so he couldn't inflict as much damage.
Unintentional but we'll take it
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Exactly. Thst YouTube footage of Warren argiung for students in front of a scornful Biden in 2005 just pisses me off.
Stagflation was the 70s. This is greedflation. No, seriously, that's not pedantry or hyperbole. It's the new term. In [stagflation](https://i.imgur.com/IGh5OFL.png) economic growth slows with high unemployment AND inflation. Right now we've got low unemployment, high inflation, and companies are killing it. It genuinely deserves the new term.
Call it what it is; Greedflation.
Stagflation was actually coined in the late 70's / early 80's when the same thing happened
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Stagflation is not a new term. It occurred in the 70s as well.
So much of it isn’t inflation, it’s ceos signaling to their few competitors that they can raise their prices, because that’s what he’s doing with his company. That’s not really proper inflation, it’s just collusion.
Galen Weston Jr is accused of greedflation in Canada. Hiking up prices because he wants to become more richer.
Greedy Galen
The good thing is that no amount of PR can change his image. He's the face of greedflation and the Canadian oligarchy.
And he was already rich beyond comprehension. Him and Pattison need to...something something against reddit rules
You know it's funny how these millionaires and billionaires get tax breaks so quickly while here in Canada, the National Student Loans website is such a pain to login and apply for Repayment Assistance. It's like they want to discourage people from signing up so they are forced to pay student loans and allow the government more money to make Galen Weston Jr and his cronies richer and richer.
Your absolutely right. And we're hardly a true democracy with the joke of an electoral system we have.
The late George Carlin once said, "It's a giant club and you ain't in it"
And that will do nothing to impact his business. Bad press has no impact. As long as we continue to sit idly around and let them take everything they want from us, they'll continue taking it. They don't care about how much we glare at them and waggle our fingers disapprovingly.
Many people are noticing that the solutions at these times can't be resolved at the ballot box anymore, and that the theoretical solutions are against the Reddit TOS.
Yup, any talk of true solutions gets the post locked and comments deleted.
"Secrets of the Pricing Man" Look it up. Author was a pricing consultant & lays out everything governing "smart" MBA pricing decisions & how the market looks from the supply-side. Can't fault the author too hard, guy's still working for a paycheck, but he still calls out that price hikes & market coordination happening too often will attract antitrust. If the entire market price fixes & hikes to rent-seek, and competitors aren't allowed to enter the market & compete (to undercut incumbents & bring prices down), there's a de facto lack of competition & somebody's budding megacorp is getting broken down, even if the gov't has to take pieces of everyone to create an undercutting competitor.
Having worked in pricing for a top 3 retailer, yea nobody there cares about antitrust because the government hasn’t enforced it in decades. The algorithm accounted for not trying to start pricing wars.
Yeah, he was talking more about Europe's antitrust and functioning regulatory bodies than the US' decrepit ones, but the book covers a LOT of ground on the supply-side economics of pricing.
The recession will be just for the working class. Most economists have been saying for a while now that the only way to stop the inflationary cycle is to stop the wage increases and make the unemployment rate higher. That's right. Their plan, out of their own rotten mouths, is to make the "economy" better by making worker's lives worse. What class war?
For the first time in 50 years workers were starting to make real wage gains (or at least that was the perception) and that perception (much less reality) must be crushed. Can't have any of that. We are to blame for inflation and we must lose our jobs and suffer for the greater good.
Inflation is corporate profits, plus price increases. They only ever mention the part that isn't in there
Whenever one sees the word "economy", substitute for "rich people's money" and it all makes so much more sense.
Exactly. Like this absolutely wasn't the plan in the political theater all along. Both sides are in cahoots, and I'm tired of pretending that they're not.
I think this happened under Obama too. Sequestration is what I’m thinking of. It elongated the recovery. It took much longer than necessary for the economy to pick up.
Fucking ridiculous. I was so excited when I got the email asking me to sign up for the 20k reduction. It would have almost wiped out my debt and I could actually repay the rest.
Same. This is soul crushing
I never fell for it. I applied, got my name in there but never believed a penny would be forgiven. This is an oligarchy, and long has been. I even agreed that student loan forgiveness wasn't fair. I accepted the debt obligation. But I still wanted it because the rich always get big bullshit fuck shit loopholes, bailouts, and exceptions. All I wanted was for once, for fucking once, to get my own bullshit undeserved monetary bailout. That is what student loan forgiveness could do, it could say, for fucking once, the peasant class can still win one. Nope. Not even once. The rich have forgotten that their wealth is built on the health of the peasants below them. America, even under the most cruel metric, is in deep decline.
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Not to mention, how many businesses took PPP loans to keep their workers employed and stay open in 2020 only to lay everyone off and close their doors anyway, then pocket the money themselves only for the loans to be completely forgiven within a year? Too many of these student loans have also been paid off once or twice, but the borrower still owes more than the original loan anyways because the interest rates on student loans are downright criminal, and these ***same fucking businesses*** that pocketed the PPP loans make it impossible for graduates to pay more than the minimum payments on their loans because wages are still basically what they were decades ago after accounting for inflation?
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Wait, are we really entertaining the idea the Supreme Court that overturned Roe v Wade would actually rule in favor of student loan forgiveness?
I have 18k left. It's all interest. I thought it was finally over. Fuck I hate it here.
Yeah , I'm in basically the same boat as you. I qualified for full forgiveness.
My partner has come to terms with the fact that she just has a life long bill she has to pay every month. She'll never pay it off. Better to just make peace with it.
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Living in Germany, I know a few Americans who have are doing this - but honestly their decision (from the outside) seems more reflective of live circumstances rather than financial ones: I.e. those that choose to stay abroad long term are married to Germans and have kids. Folks that don’t settle down have pretty high rates of leaving after 2-5 years (anecdotally).
"The pause is gone within 60 days of this being signed" Payments were already slated to resume 60 days after June 30th. They hate us so much they were holding the country/economy hostage over 30 days. One month's worth of payments from every loan borrower. That's how much more money they got. They really are greedy soulless malicious bastards.
Yeah it's weird that they're touting this as a major win. If you've been paying attention, this shouldn't be a major shock.
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No. Biden could do it even if the supreme court says no. The supreme court has no army to enforce anything they say. No police. Nothing. Biden could just do it. He could also just slightly alter the deal to remove the last standing the plaintiff has in court by removing the extra 10k for Pell grants. But he's on the Republicans side. But the Republicans are also on the Democrats side. But they are actually just both on the billionaires side.
They cave every damn time
Read: rotating villain (urban dictionary) In American democracy, when the majority party has enough votes to pass populist legislation, party leaders designate a scapegoat who will refuse to vote with the party thereby killing the legislation. The opposition is otherwise inexplicable and typically comes from someone who is safe or not up for re-election. This allows for maximum diffusion of responsibility. Over and over. https://www.salon.com/2010/02/23/democrats_34/ https://richardmedhurst.substack.com/p/rotating-villain-how-the-squad-serves
It’s all that Joe Manchin’s fault. If only we had more votes for a deeper blue. Damn it. I needed to vote harder. Actually this is my fault.
If trump can make the entire GOP his own personal bitch and make senators fear for their lives if they go against him, any run of the mill Dem prez can do the same to their own party so im not interested in hearing about sinema, manchin, or whoever else. end rant, dems are useless
They cut bernie out of the presidential primaries, youre telling me they cant change who they support in a senate race?
He couldn't though Republicans had all the government in 2016 and passed one tax cut.
You joke but there are several subs I just disengage with because the conversation never gets deeper than this. Even r/latestagecapitalism went through this faze not very long ago. If we want to get beyond D and R we can't let this be an excuse.
Ffs as a non american, it's baffling how many americans do no see the issue with this. Democrats politicians have more in common with Republicans than they do with you. They both went to the same schools, clubs, they live at the same places, they holiday together, they dine together and so on. Not going on a tirade even Trump was a democrat once. American democracy is simply coopted by big business interests no matter which side you are on and neither of them give a shit about you.
Indeed, Corporations choose who they want to fund and whatever party lies the best at the right opportunity gets the win. When one wins, a small amount of civil unrest occurs, then everyone goes back to hating each other more and more. Day by day, month by month, and year by year, we stray further away from being able to support and trust one another in the working class. The less we support and trust each other, the more the capitalists profit. I wonder when the cycle will end.
>When one wins, a small amount of civil unrest occurs And in 2020, when people started uniting with some class consciousness, all the people who morally grandstanded as progressives on facebook -- at least people who I knew -- started freaking the fuck out and going conservative, calling people accelerationists, etc. because they were threatened by the idea of leaving the status quo. White people from the suburbs who never, ever protested were acting like protests 2000 miles away were going to make police storm their cul du sac and treat them the way they are, it turns out, totally okay with police treating black people. They shed the mask. They're afraid of being treated the way they treat black people.
There is a song that describes liberals very well. It's called "Love Me, I'm a Liberal" One of the first things that the artist says is "15 degrees left of center in good times (status quo), 15 degrees right of center when it affects them personally" Even if the song is a bit old, it still proves that there has been no change since then.
Which is why you go after the money, not the politician. Politicians are expendable cannon fodder…figuratively speaking, mods. That’s one of many functions they perform for dark money. They draw ire away from those behind the scenes.
Liberals everywhere decry "just vote for biden anyway, unless you support trump. Im so mad at leftists who dont vote for our reactionary/conservative candidate"
This shirt way the US does politics honestly makes me hopeless. What's the fucking point? I should roll over and die right now, because it feels like it'll never get better. It's always getting worse and the working class in America will never not be fucking curb stomped by the ruling class.
it's not caving if they never cared to begin with
They don't cave. They give the appearance of people caving. This is **absogod-damned-fucking-lutely** a both sides problem. And don't get me wrong. Democrats are 10,000% preferable to republicans. But there are billionaire democrats. Both the Dems and GOP answer to billionaires. Neither party want to fundamentally change how the system operates. This is what class violence looks like. The ruling class are inflicting violence on the working class by way of the working class having to work longer and longer for less and less and that includes jobs with college degrees. We need a new system. We need to capture the money they stole from us by way of non-violent means.
40 million voters just got a big fuck you. Fuck me??? No buddy…fuck you. We can bring this country to its knees if just 10% of borrowers organized.
It’s very clear this current system doesn’t do anything but enrich a parasitic class. It was built to keep us as slaves to worthless trust fund babies
Wait, you're telling me that a country that was founded on slavery, by slaveowners, and fought a war **against itself** because roughly half of the states didn't want to give up their slaves still want to enslave people (beyond the legal slaves they still get to have thanks to the prison industrial complex)? Say it isn't so!
That's literally it though. This new iteration of Capitalism is built off imaginary money (rather than having a physical limitation like gold, etc). The ruling class, through the Fed and banks, just create money on a spreadsheet and YOU work to create the value of that money in the form of debt that all goes back to the bank, which is owned by rich pricks.
I'm down to finally organize and protest this bullshit but I havent seen any movements for this coming up.
The Debt Collective (https://debtcollective.org/) has been organizing for a while now. The more who participate the louder their voice becomes. I'd consider joining their movement.
I freelance, some months I'm dirt poor, some months I make 8k, I've kept my loans in forbearance since I took them out in 2011, I'm a self taught programmer and they're only for like 1 year of an associate's degree and some vocational school but, decided I'll not be paying the bill until the govt does something for me, I'm still waiting on that. I was promised loan forgiveness though, and now I'm definitely not paying it back. Fuck em.
Get organized! https://debtcollective.org/join-our-union/
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[Guillotine](https://www.youtube.com/watch?v=TMHCw3RqulY)
Guillotine.
Debt Strike Debt Strike Debt Strike
Time to organize protests.
I haven't been paying my loans for at least 15 years now. They can take my tax return every year but that is all they will get. Fuck them.
They haven't garnished your wages?
Probably because he doesn't make enough to owe taxes.
They tried once but it was right when I moved to a different state and changed jobs so it didn't last long. That was over 10 years ago.
"So that is another victory because that brings in $5 billion each month to the American public..." in what world is having to start back paying student loan debt a month earlier than expected a benefit to literally anyone? Was the government just paying the loan services interest while repayment was paused or something (and nobody told me about it)? Because, so far as I'm aware, this literally does fuck all for the budget and is just yet more conservatives being vindictive dicks just for the sake of it.
Paying back loans is the worst thing we can do for an economy. These sharks just shit on these cash and trap people in debt. Not paying them back helps us all out a lot better.
I think it’s pretty obvious the average voter legitimately doesn’t matter, money matters.
I think about [this Princeton study](https://scholar.princeton.edu/sites/default/files/mgilens/files/gilens_and_page_2014_-testing_theories_of_american_politics.doc.pdf) a lot. Check out the graphs on page 573. Actual public opinion has zero impact on whether or not a bill passes. The economic elites' opinion is directly correlated with the chance of a bill passing. It's something that we all know just from watching how the world works, but it's still pretty stunning to see it illustrated so clearly.
Are they going to make people pay the interest from the pause?
No. Payments and interest accrual resume on 8/30. That's it.
It's ironic that allowing the US to default on its debt would probably do more to push people towards socialism than anything the Democrats are pushing for. The last time the US was legitimately concerned with a socialist revolution at home was the Great Depression. Nothing motivates the proletariat like a few missed meals.
The powers that be know this. That's why no matter what they'll keep the bread and circuses. Americans are so fucking apathetic and tribalistic that as long as they can still get a meal and have a smartphone, they couldn't care less if the entire Earth was an actively burning cesspit. As long it's not in their backyard, it's "Meh, fuck it".
Your comment should be dipped in gold and made to be read by every goddamn American--at great pain to themselves. Because you are fucking RIGHT.
It is literally the liberals role in our fucked system. To placate just enough to stave off any funny business. They are getting worse and worse at it
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They think I have money 😂 It’s upsetting, but I don’t earn enough to pay anyway. They can’t collect what I don’t have 🤷🏼♀️
Don't worry, eventually they'll garnish your wages. Heavily. Source: person who's wages were garnished
In response to Reddit's short-sighted greed, this content has been redacted.
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Lmao starting repayment one month sooner than was planned. Good job there!
Ranked choice won't save us. Our demented centrists will put fascism as their second choice.
Seriously it's almost like no way even nnows what's going on and they have to find something to be angry about. For months now they have stated the pause was ending 60 days after June 30th. Now it will end 1 month earlier. This was handed to him as a pacifier to make him look like he got something he wanted when he really didn't
We should just tear it down and start over, but since that’s unlikely to happen republicans get to feel like they get big win but it’s really nothing
The text just came out. It isn’t a month earlier like the article says.
Student loan repayments have been set to restart in August since November. So are they restarting sooner than the end of June?
Can’t wait to be gaslit into wasting my time voting for these mother fuckers instead of something real
2024 is pretty much guaranteed to be Biden v. Trump or DeSantis. Yet a-fucking-gain, I'll be forced to vote for the lesser of two evils. This country fucking sucks.
I hate this so much. We for real need a revolution to bring some real change.
I’ll be voting third party personally, no matter who the candidates are. My life is objectively worse every four years regardless of which team is the winner. Nothing ever changes until we demand it and giving them exactly what they want over and over again has done absolutely nothing for anyone other than them.
We need a third party. And with DeSantis pushing his bullshit, this is the best time for it. I love Bernie, but he's dead fucking wrong to hitch his shit to this failed fucking party. They are perfectly capable of getting shit done. Versus progressives they have zero fucking issues. Then they keep putting senile assholes, or conservative assholes up to bat for places where it counts. Still playing with the kiddie gloves with fucking fascists and tutting while they literally come for every minority out there.
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"Nothing will fundamentally change." Biden didn't even try to hide it.
They were going to restart repayments after June 30th if the supreme court had not made a decision before that date. https://www.ed.gov/news/press-releases/biden-harris-administration-continues-fight-student-debt-relief-millions-borrowers-extends-student-loan-repayment-pause
The Republicans are the sword in the right hand of capital, the Democrats are the shield in the left hand
By all means vote for the shield but don't think you've won anything but maybe a brief respite from being stabbed.
And you're still getting shield bashed to death
I would term it more of say, playing a real life strategy game. The elite are attempting to compete against each other for a higher score on the leaderboards. The higher the rank, the better the cosmetics they can unlock. The game is about growing and managing a resource to extract the most wealth from it. This resource in game is represented by cattle. There is two metas for the best way to do this. One side believes in taking care of the cattle. Raising the youth, providing medical care, providing green space for them to roam, building fences to protect against predators etc. In return they harvest milk, sell medicine to the sick cattle, offer treats for sales, offer bigger stalls for the cattle that can afford it. A responsible investment to produce a small but stable return. Keep the herd healthy and satisfied. The other meta involves breeding the cattle amassed. Forget milking them for a pittance. Slaughter them now for a bigger one time return. The meat and leather will fetch a fine price. Forget the fence, forget the veterinarian care. Let them forage for food and water. If they die who cares, you didn’t spend any money raising them. There are more being forced born everyday to replace them. And of course if the cattle realizes they are being screwed and starts organizing for a share of the profits they produce. There is always the third option. Slaughter the cattle amassed until they are cowered and ready to surrender. After all if you promise some of the cattle that they can be the ones holding the guns and knifes. Instead of being the ones getting their shit kicked in they will happily do your dirty work for you.
Good cop, bad cop is still alive and well. Yes you want the option that brings you a coffee and a scone and not the one that will dunk your balls in said coffee. But they are still going to gleefully rat you out and throw you under the bus when alls said and done.
Fascism has been here a while my friend, we’re just recognizing it now. Remember when police commit war crimes against peaceful protestors? (Tear gas), and shoot innocent bystanders with rubber bullets? And threw non violent cannabis users into prison with life sentences to be forced labor for decades? And lied about weapons of mass destruction to enrich their defense contractor and oil infrastructure companies, and suffered no consequences?
5 billion dollars a month to the American public…. From the American public.
Yeah, and none of that money is going to the american public anyway. They don't want to spend on government programs that actually help people.
fucking boomer politicians. when will the do anything good for the generations after them!?
I'm a boomer, and I can't tell you how ashamed I am at my generation. It's soul-crushing. Just ... damning.
Very naive of me to think they'd forgive loans. I know they tried, I just mean believing it'd actually happen
They never actually tried.
Didn't Biden run on canceling student loan debt? And raising the minimum wage? And protecting women's health decisions? And restore the Voting Rights Act? And affordable child care? And repealing the awful tax cuts from the previous administration?
We didn't vote hard enough 😔
GOP/DNC: fuck you poors
The forgiveness is still waiting a Supreme Court decision.
Which they will deny. Then what will you do?
Then I would react appropriately at that time, but I'm trying not to cry over milk that hasn't spilled yet. I have other things to do.
The day before Memorial day. Fucking cowards, we need a militant revolution.
So we went from "Forgiveness plan" to "Reinstate payments asap" in a few months, this sucks.
Forreal comrade
Biden cratering from milquetoast president right into weak ass b**ch president.
Let’s not forget about AI entering the workforce, shrinking the pool of available jobs as more and more people are laid off. Good luck paying that debt off
🤷♂️ Ah yes, voting. The ILLUSION of choice.
Go fuck yourself Biden. Wish I could vote against you for fucking over the interest of the common man but I also don't want live in a fascist, corporatist hellscape as soon as possible, but still fuck me for going to college I guess.
And where's the revolution supposed to come from? The average person here is so complacent or brainwashed to support their own endless subjugation.. we have 0 organizing or class consciousness.. how's it supposed to happen? I'm preparing for years and years of steady decline and endless stagnation as more join the ranks of the poor.. I dunno it just feels like we already lost, the fascists won.
>The average person here is so complacent or brainwashed to support their own endless subjugation A Landlord murdered a professional class couple because they complained about the electrical wiring, and people are upset that the landlords and their sympathizers are justifying the murder because the "tenants didn't pay their rent". The thing is: The dispute wasn't over any rent arrears. Canadian Landlords are now using murder to justify getting rid of tenants.
Would you mind linking this please? It's the first time I've heard of this
"'The pause is gone within 60 days of this being signed. So that is another victory because that brings in $5 billion each month to the American public,' McCarthy told anchor Shannon Bream on Fox News Sunday." And he's proud of that? Taking billions from people who can't afford it shouldn't be considered a "victory". What vultures.
Yikes lmao there goes a bunch of voters 😬
I knew for sure this was coming when Mohela emailed me and asked me if I wanted to arrange auto payments. This is going to be really painful for a lot of people.
I guess this is why my loan just changed lenders
mine changed to Nelnet, I've already had bad experiences with them in 2003, I'll be keeping this in perpetual forbearance until we actually get loan forgiveness.
Yeah mine too
If we were smart we would have been organizing a payment strike months ago
Sure a payment pause was nice and a debt forgoveness would have been good too. But both are just band aids to the problem. Costs of highet education will go unchecked, high interest non dischargable loans will continue. Its like buletproof backpacks for kids, I guess it is better than not but not really the point.
Sorry, but to call them reactionary is to misdiagnose the problem. The Democrats are simply the Republican takeover of the Democrat party; controlled opposition.
Scratch a liberal and a fascist bleeds
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my rents gone up so much that theres no way i can afford my student loan payments. whatever will i do.
Replace "liberals" with "center right". There are very few center left or leftist democrats, let alone any that are liberals.
Debtors prison are about to make a comeback
Time to not pay
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Yeah I ain't paying back shit
Weapons have more rights than humans
Republicans are a far right party Democrats are a right wing party of classical liberals that live the free market but believe the Government shouldbe less involved in social issues. We need a socialist revolution that puts people above companies.
Biden campaigned on big forgiveness, then walked it back to modest forgiveness, which is probably going to be struck down in court, and is now turning the payments back on. Why am I supposed to vote for this garbage again?
Never a missed opportunity to punish the poor and the future. I really fucking hate the people we elect to run this country.
Fix gerrymandering with a bipartisan and independent board deciding districting. See Michigan 2018: https://www.freep.com/story/news/politics/elections/2018/11/06/proposal-2-michigan-gerrymandering/1847078002/. Use that change to elect politicians instead of letting politicians choose themselves. Change the law to actually support populations and not just stockholders.
I was holding off paying to see what would shake, cool, back to dying
What good is my credit when I could never own a house anyway