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Actually it does go away. A sovereign country can only go bankrupt when its currency stops being respected. Unless/until that happens, it can spend whatever it

Actually it does go away. A sovereign country can only go bankrupt when its currency stops being respected. Unless/until that happens, it can spend whatever it wants on its own people. A country that can afford trillions in tax cuts for the very rich, financial stimulus, and defence spending can easily afford a one-off loan jubilee. The real reasons this won't happen are political. Loans are a slaver's whip, and financial freedom is a horror that can't be tolerated for those who live below decks and need to be available to work on demand.

rootusrootus 5y ago
> Loans are a slaver's whip, and financial freedom is a horror that can't be tolerated for those who live below decks and need to be available to work on demand. The joke here is believing that college graduates are the slaves. What about the 2/3 of the population who have no degree and will earn significantly less through their life, who struggle from paycheck to paycheck and can't even look forward to eventually paying off a student loan?
seneca 5y ago
> The real reasons this won't happen are political. Loans are a slaver's whip, and financial freedom is a horror that can't be tolerated for those who live below decks and need to be available to work on demand. Comparing degree-holders who willingly took on loans to slaves, and with such wildly inflammatory rhetoric, is absurdly (and typically) out of touch. Degree holders are the managerial class. It is essentially a prerequisite to be part of the elite class. Those below the decks in our society are those who never had a chance at higher education. The exact same people who would be paying more taxes to pay for a hand out to the professional class if loans were forgiven.
- ClumsyPilot 5y ago
  "Comparing degree-holders who willingly took on loans to slaves, and with such wildly inflammatory rhetoric, is absurdly (and typically) out of touch." I wonder who is out of touch. "besides being able to borrow on personal security, an individual might sell himself or a family member into slavery...Slavery was the standard penalty for failure to pay off a debt" https://en.wikipedia.org/wiki/Voluntary_slavery https://en.wikipedia.org/wiki/Voluntary_slavery
  - deleted 5y ago
    [deleted]
gruez 5y ago
The parent's point stands. If you print money, you get inflation. That just turns into a tax for everyone that holds cash. Inflation also raises interest rates, which is a tax on people directly (ie. the amount they pay to banks) and indirectly (the interest government borrows at).

rootusrootus 5y ago

> Loans are a slaver's whip, and financial freedom is a horror that can't be tolerated for those who live below decks and need to be available to work on demand. The joke here is believing that college graduates are the slaves. What about the 2/3 of the population who have no degree and will earn significantly less through their life, who struggle from paycheck to paycheck and can't even look forward to eventually paying off a student loan?

seneca 5y ago

> The real reasons this won't happen are political. Loans are a slaver's whip, and financial freedom is a horror that can't be tolerated for those who live below decks and need to be available to work on demand. Comparing degree-holders who willingly took on loans to slaves, and with such wildly inflammatory rhetoric, is absurdly (and typically) out of touch. Degree holders are the managerial class. It is essentially a prerequisite to be part of the elite class. Those below the decks in our society are those who never had a chance at higher education. The exact same people who would be paying more taxes to pay for a hand out to the professional class if loans were forgiven.

ClumsyPilot 5y ago
"Comparing degree-holders who willingly took on loans to slaves, and with such wildly inflammatory rhetoric, is absurdly (and typically) out of touch." I wonder who is out of touch. "besides being able to borrow on personal security, an individual might sell himself or a family member into slavery...Slavery was the standard penalty for failure to pay off a debt" https://en.wikipedia.org/wiki/Voluntary_slavery https://en.wikipedia.org/wiki/Voluntary_slavery
- deleted 5y ago
  [deleted]

gruez 5y ago

The parent's point stands. If you print money, you get inflation. That just turns into a tax for everyone that holds cash. Inflation also raises interest rates, which is a tax on people directly (ie. the amount they pay to banks) and indirectly (the interest government borrows at).