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Rolling Jubilee

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more of a-

i bought a home and an education because my government encouraged me to do so. then when the value of my home became nil and my education became moot i'm left with no choice but filing bankruptcy and foreclosing.


sympathize/empathize or not, i support this and think its a good thinng.

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Why become nil value for...?


2008 GFC, Fannie Mae, Freddie Mac, etc. etc.


Interest rates low after 9/11 to stop econ crash, people over leveraged on property encouraged by unscrupulous loaners that loaned to ppl who shouldn't have borrowed but were told their house was worth more than what it was (meaning they thought they had more equity to leverage off) - dudes bought houses on credit, that debt was sold to investors bundled with healthy credit, ppl didn't do their homework yaddayaddayadda - ppl couldn't pay back loans they shouldn't have been given, walked away from house loans, banks were left with debt they had bought, thinking they had $XXXXX amount of assets when in reality they only had $XX worth - banks start collapsing, no one lends money, lots of houses on the market as ppl/banks try to cut losses, demand goes down as supply goes up. You get the rest.



IF this Rolling Jubilee plan builds confidence in the US system then it's a good thing, I just can't see that it will have enough resources or momentum to create strategic level change. I wish it would, myself. Also, lol at RT as a news source. They are about as biased as Fox News.

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media bias = unavoidable


I framed it incorrectly, I should have used 'overt bias' or 'political agenda'.


There's a difference between unavoidable biases and the human condition as compared to clear political agenda and funding.


PBS has a bias, Fox News has an agenda.


RIA Novosti has a bias, RT has an agenda.

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I've been abolishing debt for years by not answering the phone when the collection agency phones. But hey, if this works that would be cool too.

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