Pay Off My Student Loans!

At least Biden fixed Saints Woke.


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#StudentLoans #StudentDebt #studentloandebt

Written by ShortFatOtaku

Hi, I'm SFO, and on this channel I make political and philosophical content. There's a lot wrong with the world at the moment, and I don't really have any way to affect political change other than making videos on pertinent topics, so I'll do what I can. My political position is a liberal centrist - I believe that free western capitalist democracy is the best political system we have, and that it's under attack from all sides, from SJWs, from religious extremism, from radical feminism, from identitarianism, from both progressivism and regressivism, from extremism from both ends of the political spectrum. If you're expecting me to either be alt-right, or side with social justice, you're going to be very disappointed.


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  1. So you acknowledge that debt forgiveness is just communism. Then you move on to share an actual lie. The median earnings of a dropout are grossly shifted by all of the billionaires who are a dropouts. The only way colleges hide those fuckers is by giving them honorary degrees and pretending they had something to do with it because you know they're an honorary speaker sometimes…

  2. Well you're too stupid to understand why you're right. Enjoy Reaganomics, I hear from those who survived it it's a real bad time. But that's how you get inflation under control…

  3. I don't see where SFO is getting this view of money and the economy. The gov't lists student loans not as a form of welfare or charity, but as an asset. This means the gov't benefits from it. It isn't taking loan payments out back and burning the money.

  4. Soooooo…. What I'm getting from MMT like all governments do. Print shit loads of money they don't have to fuel the economy. Eventually it all keeps expanding exponentially to pay off old debt for new debt. Which makes perpetual inflation. And perpetual money creation. So every decade or so the money just keeps inflating but at an accelerated rate until it pops? Or not enough is printed to substitute demand of goods?

  5. 5:50 Those loans were only loans if you failed to fulfill the terms. If you used at least 45% for payroll, the loan was forgiven. There is no comparison between a "loan" where the borrower's terms are "use this money this way and it's free" and one where you borrow with the understanding that you are required to pay the money back with interest.

  6. If the government were to use my taxmoney to forgive Student debt i would be pissed.
    When i went to university i worked a 80% job on the side, using all my vacation to get through the parts of the study that required me to work in the profession i was working towards. I didn't have a car, and i didn't party. I studied and i worked and had time for little else. It was fucking hard and borderline hell at times, but i got through without taking on a student loan.
    Most of my friends (some of who are from much richer families than me) took out a student loan, didn't take a side job, and spent their free time partying away all the money. I worked hard and suffered to get ahead, and now you want me to pay up so those who just fucked around and had fun out of the debt they willingly took on? no, fuck off!

  7. Another problem not really touched upon: people who attend grad school, then drop out of the programs or professions because of boredom or disillusionment. I know people who told me, "I don't like practicing law / accounting / medicine." Basically, they wish to remain professional students; they enjoy the cloistered environment of academia, but can't deal with the realities outside. Inevitably they drift from job to job, leaving behind a string of debts.

  8. Student loan forgiveness is a wealth transfer form the poor (who do not attend college) to the middle class.
    And who says socialists never do anything for the middle class!

  9. But the "I said it's declassified so it is" literally IS a procedure, Dev. The president has unilateral declassification powers.

    Implying populist don't care about stability, they just want to win? Sometimes I wonder what world you live in. You can want what's best for the people and the country without recklessly destroying institutions and stomping your feet.

  10. What i dont get more anything is, why dont they just extend the pause a couple of more years rather than canceling the debt entirely? Unless that'll have a negative effect too. We're in a sort of "contain the crisis" mode where we can just barely afford to pay loans back. Until were out of this jam, i dont see the point in ending the pause. If someone can answer this, please do, cuz im a loss

  11. 3:00 Just because most people are too impatient and stupid to know they have to let the process of reform take its due time doesn't mean the philosophy of populism itself is bad. Isn't it kind of obvious to want the government to work for The People rather than vice versa? I think it can coherently mesh quite nicely with classical liberalism and libertarianism. Perhaps it's a perception issue? The propaganda against the label of populism is pretty bad, for obvious self-serving reasons. It wasn't until fairly recently with Trump's successful election and tenure as President and bloodied its nose that proved that the Establishment wasn't invincible, BTFOing the black pills and flooding the country with an enthusiasm that has led many low level government positions to be taken over by populists (MAGA), now preventing the top level of the Establishment from maintaining the support it needs to stay in power. The Dems and RINOs still have no argument beyond ad hominems such as Orange Man Bad and are poised to completely self destruct as a party any time now. It was never about Trump, it's no cult of personality, we can do this now even without him. They're finished, I'm pretty optimistic about it. I'm gonna love watching it all fall apart in these next several years.

  12. Been calling you an intellectual fraud for years, but this episode was a massive flood light aimed at your nihilist marxist 'pick me' membership card.
    Inb4 totally not insecure tub of lard replies "???" again

  13. We should be bitching about why our tax dollars aren't being applied to the balances.
    If you're going to steal my money for the next 40 years, then at least help me make more money for you guys.

  14. The Medicare age lowering promise would be complete fiscal suicide. Medicare and Medicaid combined make up like half of the federal budget, and we are already paying for all of it with debt spending and inflation.

  15. when a friend of mine (progressive) was discussing this idea, she liked the idea of the loan forgiveness whereas I (conservative) did not. I marvel at how simple it is to find ground to reconcile my conservative wants and her progressive wants. we both wound up agreeing to a compromise (if we could make the decision) of negating interest on the loans and extending the timeframe for paying it back in order to reduce monthly payments. it really does start to seem like someone is trying to keep people hating each other when she and I almost effortlessly find a compromise on something like this.

  16. "WTF are you guys buying?!? COCAINE!!?!"

    Me officially dead from laughing too hard. But oh man you hit the nail on the head on how during the 2000s how hard we got sheppard in to college

  17. I can see both sides of the argument.

    On the pro forgiveness side I can absolutely understand how some people might be upset that they got suckered into a degree everyone else involved KNEW wouldn't make them better future prospects, rack up hundreds of thousands of dollars of debt and then left doing menial work with no chance of paying that debt off, but also unable to declare bankruptcy to get out of it.
    Both the people involved in signing off on those loans and the people involved in opening, offering and teaching those classes ought to have known that there was very little chance of them being a profitable investment for the students involved. Clearly, some responsible adults simply didn't give a crap and signed them up anyways.

    On the other hand, I can also see why people that worked hard to not get into debt in the first place or to pay it off after, that chose the right degrees and did the responsible thing would be infuriated that people that didn't do any of that get their debts waived while they had to toil to get out of theirs themselves.

    Then there's the whole thing of people getting their debts waived even if they DO have a profitable degree simply because they're still in the starter positions that lead to profitable jobs when that forgiveness comes around.

    Personally I think there should be a time window during which there is no forgiveness – 5 to 10 years during which you are expected to do your best to actually pay your debt off. After that time, there should be an assessment.
    If it turns out you simply can't get anywhere with the degree you have, you made your best effort to pay off the debt but can't be reasonably expected to do so in a time-frame that won't essentially turn you into a debt slave, fine, let's waive the debt.
    But… If that were to happen, there should be a hefty negative mark to the university responsible for admitting that student. If a place of education gets too many of these, they should have their access to grants, government funding and student credits cut or even entirely removed.

    This serves three purposes:

    1. You make sure people that are really in the drink for being sold a bill of goods can eventually get out from under their debt if it is clearly untenable while limiting the amount of abuse possible by people that really ought to have paid it off.

    2. Students will still have access to credits and aid to get a degree if they so wish.

    3. Universities and other places of learning that gleefully took advantage of student loans to open classes that they knew full well had just about zero chance of significantly bettering their students earning potential and that allowed students in that they didn't think had any prospects will eventually be punished for abandoning their duty of care.
    Good institutions that handle their students with care and only admit people and classes they think will actually be of benefit to their alumni or society can do so still, but bad institutions will eventually lose government funding and access to loans for abusing them.

    Universities would still be able to offer elective courses and degrees for fringe sectors and interests, they'd just be heavily incentivized not to take on students that would choose to pursue those classes and degrees using government loans – because, if they were to default, it would come back to the university.
    You'd see classes like that mostly filled with people that have the means to pay for them out of pocket and that wish to study them out of interest as opposed to bright eyed and bushy tailed naive young men and women that will end up destitute when their degree in lesbian dance theory ends up not opening all the doors the recruiters promised them it would.

  18. Stick to social commentary. The MMT theory of taxing money back out of the system doesn't even work on paper, let alone in reality. MMT is a dangerously ignorant economic practice both in theory and it use.

  19. I don't think that looking at the average percentage more earned by going to college/getting a degree is a good way to understand what the value of a degree is or where that value comes from. Useless degrees impact the average, but I doubt they impact it as much as something like an engineering degree that leads people to earn 100-200k per year. Those engineering degrees are what increase the average earnings by 40%, and it would be much higher without the useless degrees to balance the average out a bit. The act of going to college and the paper you may receive at the end isn't what makes you valuable- it's a combination of what you learned, how you apply it, and whether or not that degree gives you access to a previously inaccessible market for your knowledge and labor. Gender studies degrees don't give you access to a new market (unless one is artificially created by institutions), they do not teach you valuable information, and they do not teach you how to apply what you know to solve actual problems or create new things.

  20. Overall, great video. One thing that could use more support though is the claim that the transfer in purchasing power goes from the working class to the middle class. The mechanism you discuss for this is that government's inflationary spending lowers the purchasing power of the working class.

    But because inflation devalues all money more or less equally (ignoring variations in the increased cost of different goods), surely inflation hits a stratum of society proportional to their savings, right? And surely the top 5% of the country ('the investment class') have the most savings, right? So wouldn't it be more true to say that the transfer in purchasing power goes from the investment class to the middle class? If not, I'd like to know why.

    I'm sympathetic to your claims, but this just felt like a hole in the 'working class -> wealth transfer -> middle class' narrative to me. If the cost of inflation is predominantly paid for by those with savings, and the working class has the least savings, then wouldn't they be the least effected?

    Perhaps it's this premise — "the cost of inflation is predominantly paid for by those with savings" — that's wrong. Maybe it's more accurate to model inflation as a % increase on the cost of food and gas (the daily essentials) and consumer goods. If everyone's food and gas costs increase by, say 10%, then that's a bit like leveling a $1000 monthly tax on everyone equally — where that's a drop in the bucket to the investment class and devastating to the working class. Do I have that right?

  21. We all know that no matter how much money the government throws at social justice majors, productivity won't go up.

    In fact, since all it does is create a "professional complainer", it destroys productivity.

    So according to that MMT, student loan forgiveness will cause massive inflation.

    And that will hurt everyone else.

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