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Forum Post: What would happen if we got rid of everything?

Posted 8 years ago on Oct. 21, 2011, 8:20 p.m. EST by OLLAG (84)
This content is user submitted and not an official statement

I just want to see your logic.

How is removing student loans going to bust the economy. It will shut down banks for your mistake. If you get rid of debt thousands of banks and people will go unemployed. Where does that get us?

27 Comments

27 Comments


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[-] 1 points by rachelayne (20) 8 years ago

No, it would most certainly not hurt the banks. Their earnings from student loan payments are a drop in the bucket. What it would do is put money into the pockets of struggling young people who came out of college drowning in debt and were unable to obtain full time employment in their career field because the banks are hoarding all the capital rather than making loans so small businesses can hire those same young people. Individual top level banking executives earn far more than the sum of all student loan payments would earn the bank in a year. Laying off one of those bankers, or giving the whole board a $1million dollar annual bonus each (a massive bonus cut) would more than pay for the losses due to forgiving ALL student loan debt! How can Americans be so ignorant as to actually have people crying "POOR BANKS"?????

[-] 1 points by OLLAG (84) 8 years ago

Banks run the country idiot.

I don't want the banks to shut down because all the money i have in a bank account will disappear. gone forever

PS its your fault you took out the money

[-] 0 points by AntiCorp (187) 8 years ago

Who forced you to go to college? Who forced you to take out a loan?

[-] 1 points by rachelayne (20) 8 years ago

uhm, no one is talking about people being forced. As American youth we are taught an education is the key to becoming a contributing member of society. We are told we will have opportunities when we have a degree. When banks hoard capital, there is less money in the economy to employ people. Therefore it is partly due to the banks that the very people who owe them money cannot pay them. I also think no one really means these debts would be totally forgiven. I believe the majority of proponents of debt relief intend for debt to be repaid over a longer period of time, at a lower rate, but still at a profit to the banks. And can we avoid such unintelligent responses on this important forum. You might as well have said 'I know you are, but what am I.'

[-] 0 points by AntiCorp (187) 8 years ago

The best thing about the student loan thing is that none of these protesters who have student loans would have ever taken out the loan knowing they would not have a job to pay it back. They took out the loan because they thought they would have a BIG fat CORPORATE paycheck to pay it back with....hypocrites!

[-] 1 points by rachelayne (20) 8 years ago

incorrect. Many hoped to be teachers, or business owners, or work in the service industry... I could go on, but I am wasting my time here.

[-] 0 points by AntiCorp (187) 8 years ago

I'm finally glad you realized that you are wasting your time at OWS....good for you!

[-] 1 points by rachelayne (20) 8 years ago

and why are you here? you don't even support it, so who's really wasting time? You have nothing better to do than spread bitterness and negativity? Good for YOU!

[-] 0 points by AntiCorp (187) 8 years ago

I don't have students loans...I'm not trying to get out of my responsibilities just because I can't pay back my loan because I majored in some field that has no jobs. Maybe you should have thought it through before you took out a student loan that you can't pay back now. So if you don't have a job to go to does that mean you shouldn't have to pay your car loan, or if you're unemployed you shouldn't have to pay any bills or loans off...let others do it for you or wait till you get a job? This is too funny....life is too hard....booohooo I wanna quit.....boohooo.....I don't wanna pay my loan.....I do waan keep my I-Phone and cable T.V. and my computer, my I-Pad too and I wanna get those replaced when newer versions come out every 6 months.....too funny.

[-] 1 points by rachelayne (20) 8 years ago

Im just doing this for the fun of it at this point. I actually have a job and pay my loans, as well as all my other bills. I don't buy any fancy gadgets because I don't need them. But Im not a blind idiot who spends their time spreading hate. I actually care about others, see the positions they are in, and use my brain to understand the whole picture. I actually feel sorry for you. I have to wonder what your perspective is that causes you to be so cynical. It would be interesting for me to know what makes you this way, because it could help us understand what is wrong with the world today. Attitudes like yours are exactly why America has more in common with a third world country than a developing nation. May I ask, why are you AntiCorp? What do you dislike about corporations? just trying to gain some insight.

[-] 1 points by jbell78 (152) 8 years ago

Sorry to jump into your convo, but have you ever actually spent time in the slums of a third world country?

[-] 1 points by rachelayne (20) 8 years ago

yes. and in Appalachia, and lived in an inner city American slum when I was in school. you?

[-] 1 points by rachelayne (20) 8 years ago

darn it, Im having trouble with this program. Can't reply to people. I was using the comparison based on declining numbers in education, and children living in poverty. I know we are coming from a far better place, but the rate of decline is where the comparison comes in.

[-] 1 points by jbell78 (152) 8 years ago

Yes in India (the most time), Africa and China. And I have never lived in, but have done literally thousands of hours of volunteer work throughout my life in "Inner city American slums" as well. This is why your comparison still baffles me.

[-] 0 points by AntiCorp (187) 8 years ago

Really.....you are asking what makes me tick when you start off your post with this...."Im just doing this for the fun of it at this point.".....thank you for being honest and showing the world what OWS protesters are all about....good job!

[-] 1 points by rachelayne (20) 8 years ago

I guess this program only allows so many replies. I have to keep going up the stream, sorry it's confusing at this point. Anyway, first off I was wondering about your screen name, AntiCorp. What do you dislike about corporations? and as an aside I am curious why you draw negativity towards yourself by coming to a place where you disagree with everything that place stands for. Do you have a message you want to get out there? What is that message?

[-] 0 points by AntiCorp (187) 8 years ago

I have no message...."I'm just here for fun"...OWS is a scam...it's hypocritical...people there talking about corporate greed while they have on $100.00 Nike shoes, $160.00 North Face jackets, using Apple I-Pads and I-Phones....it makes me laugh.

[-] 1 points by rachelayne (20) 8 years ago

weird, it won't let me reply to your last comment. Anyway, I am a grownup. I am extremely responsible. I have three kids. I work as a retail manager, so have many more kids at work. I even have excellent credit, despite being lower income than most. Not only to I pay my bills, but I pay a friends car payment because I care about her. I am not at all radical. Im religious, and conservative on many social issues. I was hoping for an actual explanation, if you don't mind, because Im trying to understand where you are coming from, mostly just because Im interested.

[-] 0 points by AntiCorp (187) 8 years ago

what do u wanna know?

[-] 1 points by rachelayne (20) 8 years ago

I meant Im interacting with you for fun. Fun and interesting are one and the same to me. Im not sure what you are saying Im showing the world? Can you explain that in more detail? Im serious, I am curious about your thought processes. I find you interesting!

[-] 0 points by AntiCorp (187) 8 years ago

When you grow up and realize that you have to take responsibility for yourself and your own actions you will get it then but until then have fun thinking you are making a difference....someday you can tell your grand kids how radical you were in 2011.

[-] 1 points by NielsH (212) 8 years ago

It would be important to make a cost - benefit analysis. Keeping some people indefinitely in debt is not helping the economy, neither is forgiving all debt.

As with so many discussions, we tend to end up in black and white reasoning. When I suggest the income inequality is skewed too much, a usual response is that complete equality takes away incentive. Sure it does, and I was never proposing that.

The same is true about student loans. I do education should be affordable to everyone who has the capacity to finish a study. Cost of education should go down. Also debt relief should be applied to some, especially if no recuperation of that debt is likely.

Keeping debt on the books is only interesting for the financial sector, because they can sell irrecuperable loans as derivatives to investors, and when sliced and diced properly even get a AAA rating for it.

[-] 1 points by yasminec001 (584) 8 years ago

Get rid of money. Install a new monetary system. Things will still be fucked up otherwise.

[-] 1 points by atki4564 (1259) from Lake Placid, FL 8 years ago

Agreed, so perhaps you would consider our group's proposal of an alternative online direct democracy of government and business at http://getsatisfaction.com/americanselect/topics/on_strategically_weighted_policies_organizational_operating_structures_tactical_investment_procedures-448eo and then direct questions or comments to our group's 19 members committed to that plan at: http://finance.groups.yahoo.com/group/StrategicInternationalSystems/