Many students have awakened to the horror they live in and this is going to compound the social malaise. We seem to have arrived at crossroads, and getting closer to a final confrontation with this deeply immoral system, should humanity choose to free itself from thousands of years of servitude. We are living history and we must not fear what is coming but embrace it.
TRUTH THEORY: A recent study of 1,000 undergraduate and 1,000 postgraduate degree holders conducted by OnePoll on behalf of Splash Financial, showed that 39% of the respondents would be willing to go to jail for a week to have their student debt erased.
EARTH CUSTODIANS: it was so easy to get student loans that college grads aren’t willing to pay that much to get out of debt. One week in jail could mean that they do not understand the situation they have been fooled into. Or maybe, and to give them the benefit of the doubt, the choices for that question were biased, and perhaps would they have chosen 1 year jail time too if necessary.
In fact, 4 in 5 of those who responded said that they see their student loans as another type of “life sentence,” and an overwhelming majority see them as a serious financial burden.
So, yes we were right to give them the benefit of the doubt, they feel trapped more than ever. A “life sentence” says it all and with automation around the corner, most of these degrees are garbage, completely worthless.
The report also indicated that roughly 92% of student loans are federal loans, not private ones.
Well, that is very bad news for the taxpayers to say the least because the total amount of college loans is $1.4 trillion, and that default will still cost more than 1 trillion when it’ll all crumble down. The highest debt ratio is found among those between 35 and 49 years of age says the study, and this means that 2 generations have been “financially disabled” by the system.
There is no way we’re going to extricate ourselves from this conundrum with the current existing laws. A debt jubilee is our only tool here, along with a degrowth scenario. Just think about that: 2 impoverished generations with 70% of workers currently living paycheck to paycheck, 30% of which run out of money before the next payday (see previous blogs)
It is time to choose: a return to frugality and sanity and restoring biodiversity … or corporate rationing on a desolate and dying planet