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comradePuffin 12 points 3 years ago

As likely as the rapture. Or in materialist terms: as likely as the bourgeoisie giving up their private property and handing the reigns of power to the proletarian vanguard without violence.

Edit: I like Dr. Justin Sledge's idea that the revolution happening by itself (inevitable due to the contradictions of capitalism) as apocalyptic literature, as a criticism.

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knfrmity 9 points 3 years ago

About as miraculous as Jesus turning water into wine.

Student loans are securitized and repackaged and derivativized to the point where forgiving them would cause another 2008 like debt bubble financial crash. There's a financial house of cards built upon people's educations and its sick.

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Grayox 5 points 3 years ago
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201dberg 3 points 3 years ago

I love seeing others know about SLABS and that it's exactly why Biden made it so you can't get out of student loans through bankruptcy. Can't have the Oligarchy's gambling assets getting wiped out.

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201dberg 7 points 3 years ago

Student Loan Asset Backed Securities (SLABS) are too important for wallstreet and banks to use as assets in investing. If the government forgave that debt it would break a fundamental part of what props up the economy. Rich people might actually loose money. That's part of the reason Biden made it impossible to get out of student loans via bankruptcy. A bankruptcy cleared debt becomes a worthless asset to whoever bought it.

It's safer to assume the whole of the US will collapse before they forgive student loans.

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giacomo 2 points 3 years ago

Not likely

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bennieandthez 1 point 3 years ago

its not 0% but damn close to it.

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