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Thursday, September 29, 2016

A Failed Social Model: Providing Basic Goods Through Crushing Consumer Debt

Some things — education, health, housing — should be rights, not financed through taking on more and more debt.

Occupiers have joined anti-foreclosure advocates to occupy home auctions and abandoned buildings and block foreclosures. A few state attorneys general have begun resisting the Obama administration’s awful mortgage fraud settlement and started investigating banks and servicers. Even shareholders are in revolt, filing class action suits against their companies. By one measure, student loans are one of the biggest concerns amongst supporters of Occupy Wall Street. There is now an OccupyStudentDebt. A petition to forgive student loans has gathered 300,000 signatures and was included as part of a general debt forgiveness bill on the floor of the House of Representatives. Congress has even begun to touch on medical debt issues.

  • Racy

    trea·son   /ˈtrizən/ Show Spelled[tree-zuhn] Show IPAnoun
    1.the offense of acting to overthrow one’s government or to harm or kill its sovereign.
    2.a violation of allegiance to one’s sovereign or to one’s state.
    3.the betrayal of a trust or confidence; breachof faith; treachery.

    There is undisbutable evidence, that many members of the Republican party, have violated their allegiance to their country, by not allowing legislation that would benefit the welfare of the vast majority of the nation’s population, by garnishing the necessary Congressional votes, by a 100% majority, with the stated goal of the very people they are sworn to represent, enhancing the sufferring economically, socially and even risking the defense of said people. This is with the purpose to misrepresent the ability of the leader of said nation, to effectively perform his duties, and for the sole purpose of removal of the President of the United States from his elected office. Such motives have been stated by numerous members of the Republican party, Presidential candidates of said party, and the leadership and members of the Tea Party organization. The statements are public record, recorded by various forms of media, and , in fact, numerous media outlets provide aid in the act of treason, by providing inaccurate information, to the public, to enhance anti-government sentiment, with the purpose of supporting the motives of said Republican party members and/or members of the Tea Party organization.

    In addition, various said members and leadership, of the Republican party and the Tea Party, have signed pledges to block specific legislation, while gaining the financial support of individuals, private corporations and lobbyists, as compensation in fulfilling their pledge(s, even if it is detrimental to the welfare of the vast majority of the citizens of the United States of America.

  • kurt.lorentzen

    The author has one thing right: debt is the cause of all of these crises. While the article uses the tallking points as justification for socialized everything (education, healthcare, housing), the same points could be used to show what happens when the government/finance consortium attempts to manipulate markets. Why does education cost so much? Because people can borrow money (largely from the government) and pay the outrageous tuitions, book prices, dorm fees that higher education gets for their services. The same goes for housing. If people couldn’t borrow money to buy what they couldn’t afford, prices would tumble (look no further than the current housing bust for evidence). ALthough healthcare is arguably a different situation, the truth is that if no one could afford $400,000 for bypass surgery it wouldn’t be long before the price would drop. Looking to the government for answers to these things has never shown itself to be anything other than disastrous. The league of Wall Street and Washington has buried us in debt as we’ve borrowed money to enrichen our public “servants’ and their Wall Street enablers. The fix isn’t more entitlements, it’s getting Wall Street out of the pockets of our elected representatives and getting those representatives out of our business. The market will correct itself if given the chance, and the economy will follow suit.

  • RonMidgett

    The thought that the market will correct itself is based on a false assumption…that is markets will always react rationally. Unfortunately, they do not. It is the irrationality of people that keeps this idea of homeostasis of the markets controlled by supply and demand from being realized.
    For example, in my own experience, I was encouraged by a realtor to not worry about the cost of a house because they could get me a interest only loan or an ARM. I wouldn’t need to worry about the reset because by then the house would have increased in value and I could refinance, after all housing prices would continue to rise indefinitely. I wanted out of there as quickly as I could get out. It is this irrationality that has caused each of the result in crashes…dot.com bubble…S&L crisis in the 90’s, the great tulip bulb market crash of the 17th century Holland, etc.

    MARKETS DO NOT BEHAVE RATIONALLY WITHOUT SOME GUIDANCE IN THE FORM OF RATIONAL REGULATION.

  • peteserb

    All cheap credit has ever done is complicate peoples lives. Bringing more stress more divorce, more medical problems and allowed our theives to remain in congress by promising more freebies for theundeserving of our society.

  • t

    You must be dreaming. The only thing that would drop is the person needing bypass surgery if they were unable to get it, as in DROP DEAD! More than likely he would get the surgery, file bankruptcy, and the costs would be passed on to the few who can afford health insurance through higher premiums. This is how our present system works.
    Imagine the reaction if a person went to the supermarket, loaded up their cart, went to the checkout stand and told the clerk “I can not afford to buy these groceries” and the clerk answered “that is fine sir, can we help you out to your car?” The next day some shmuck making minimum wage is going around the store putting higher prices on things because after all as in any business they have to make a profit. Most people would think this scenario is absurd. Well folks this is exactly what happens in our health care system today.