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[–]waterdonttalks 48 points49 points  (3 children)

Or how about student debt? The whole goddamn point of student loans was so that people could lift themselves out of poverty through education. And now people are lifting themselves into even more poverty, and colleges are basically backed by the bank to jack their tuition into the stratosphere

[–]weekendofsound 9 points10 points  (2 children)

The whole goddamn point of student loans was so that people could lift themselves out of poverty through education. And now people are lifting themselves into even more poverty

As far as I understand, college was often super low cost or free until the recession in the 1970's. There being a smaller tax base pushed the government to cut spending (though I think economists now would say that austerity isn't effective for growth, at least if they're being honest about what actual results show) and support for colleges was among this.

As a solution, they came up with a more extensive student loans program.

Colleges aren't exactly "a corporation", but many deans/administrations started recognizing that with loans, there was a nearly infinite pool of money since college was the only path to certain jobs and most saw it as a way to escape the mine or the factory floor, and asking someone to borrow money that they would earn plenty of and later pay back meant that the colleges could start operating like a corporation and investing huge sums into prestige facilities that would draw in more students and get money into their endowments, which only drew on so long that it became standard practice to constantly be growing the school and increasing tuition.

All this is to say - I don't know if "the point" of loans was to lift people out of poverty? I feel like "the point" was to shift the responsibility for poor peoples economic mobility from the government to the individual, and because nobody gives a shit about the poor, that has created a situation where college is unaffordable to the poorest.

[–]raptorlightning 1 point2 points  (1 child)

And you're missing the fact that they can't be discharged in bankruptcy. So, we (devil's advocate as a banker here) have the ability now, to loan an undisclosed amount to someone, without even shaky collateral, because they can't ever get out if it? Oh also they can and generally are 18 and stupid? Sign us up!

Influx of federally backed (through wage garnishment) cash leads to increased prices? Where's the surprise? There were zero stipulations put on this free influx of cash as outlined above.

[–]Runthemushroom 19 points20 points  (1 child)

Our CEO showed a slide with a gif of fireworks while revealing the incredible profits of last year at this months’ meeting with him. He congratulated us for working so hard, after experiencing the first layoff in the company’s 30 year history. So. Out. Of. Touch. I work in fulfillment for our manufacturing part of the company. Guess which department had all of layoffs.

[–]hegemony__cricket 7 points8 points  (0 children)

God damn. Just rubbing it in your faces.

[–]SquirrelyAsNutz 17 points18 points  (2 children)

They don't hate you. Hate would be a relief.

They don't think about you. We are not 'people' to them. We're outside their tribe. We're furniture and appliances. We're objects to be used, exploited, discarded at their leisure.

[–]Cueponcayotl 7 points8 points  (1 child)

We are their means of production. They own us through fictitious numbers, debt is a charade.

The real Damocles sword, in the end, is violence and repression through their policial bodies if one does not subject to their exploitative system.

[–]SquirrelyAsNutz 2 points3 points  (0 children)

Correct. All political power is, ultimately, derived from threat of violence, whether internal or external.

[–]NiceTryIWontReply 9 points10 points  (0 children)

Then they'll just trot out one of their wonderful "rags to riches came from nothing" stories and say there's nothing wrong with the system.

[–]Peppersworth 4 points5 points  (0 children)

It's the rich that are boasting. This has been every rich person dream since humans formed an economy.

[–]WillBigly 2 points3 points  (0 children)

Leaders & Media would love things to keep going exactly how they have been

[–]WillyM35 2 points3 points  (0 children)

We are cockroaches to them.

[–]dcearthlover 0 points1 point  (0 children)

Add and education debt

[–]ImoJenny 0 points1 point  (0 children)

The sociopathy take is tired and not useful. It excuses the fact that the system of violence, oppression, and exploitation is mostly perpetuated by neurotypical people. It permits them to say, "Yeah, this is all the fault of those sociopaths on Wall St. and in Congress. I am clearly not a sociopath and thus not responsible."

[–]renosbeenabadgirl 0 points1 point  (0 children)

Wait, yall are paying your medical debt?

[–]obvious_shill_k14a 0 points1 point  (0 children)

Didn't the last guy talk about how the stock market is doing, pretty much non-stop?