I don't know how anyone can be optimistic about this economy. This isn't death by a million little cuts. we are headed for an unprecedented economic depression.
this post was submitted on 07 May 2025
542 points (98.9% liked)
News
29258 readers
4042 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 2 years ago
MODERATORS
The guillotine got applied to the economy instead of the... Proper target...
This ain’t nazi sympathizing Reddit bro - you’re allowed to say that a treasonous Russian asset in our government deserves to be executed by guillotine, even if somehow that treasonous Russian asset is the president.
load more comments
(6 replies)
Gotta pay for that birthday parade somehow
Roughly 2.9 million people who have student loans are age 62 or older. I'm very curious as to how many in that demographic are within this defaulted status. Mostly because any change in social security benefits for a retiree is life altering and if any significant portion of that group that's defaulted is also this 62 or older group, the changes this will have a massive impact on the population. Retirees that get caught into money troubles not only brings them down, but usually the family that ultimately has to catch them from completely falling through the cracks.
If this affects retirees i hope they choose to protest with open carry in front of government buildings rather than letting themselves get homeless and starved to death.
Cant do that in a lot of states. CT, California, ny, and others.
What are they gonna do? Shoot at the armed people who have nothing to loose as they are destined to loose everything anyways?
load more comments
(4 replies)
load more comments
(1 replies)
An American hero in the making. /s
When is Trump going to pay his debts for defamation and fraud he has been found guilty or liable for? How about Trump pays back all the debts erased by his six bankruptcies? If he gained money through fraud, what about the taxes he evaded?
I saw forgive his debt in exchange for being skinned alive.
When you make him
Thanks, Obama!
The US total population is about 340 million. Those 18 and older is about 254 million.
With 5.3 million defaulted, that means 1 of every 68 adults has defaulted on a student loan.
At any given time, a large grocery store has 1-5 people who defaulted on a student loan.
There is clearly something wrong with the US society with that many people who can't pay for an education, which is needed to barely get a job.
Once again I'm happy to inform you that yes, it's Ronald Reagan's fault. Damn his evil soul.
In pants shitting fear of "Creating an Educated Proletariat" Reagan took our system of basically free college and turned it into this mess we have now.
(P.S.: If you piss on Ronald Reagan's grave in California and are caught by police its a misdemeanor charge carrying a $1000 fine. I don't know about you but I can budget for this particular bucket list item)
Yup, my parents paid for tuition, books, leisure, food, and board working a summer job.
I had to use the GI Bill, a part time job in fall, winter, and spring, full time job in the summer, doing almost no leisure, money I saved up while in the military, and money my grandparents gave me
Brought to you by the early 20th century labor movement.
The foundation got laid so strong that people had time to forget what it even was or why it existed, what it was like before. It was worse than today, if you can imagine. Now we're going to have to build the whole damn thing again. No one "in charge" is planning to help with it, either, just like last time.
load more comments
(2 replies)
Joe Biden was the Senator most responsible for making those loans undismissible. There is plenty of blame to go around.
And that was the last thing he ever did regarding student loans. 40 years ago. Nothing since. The end. 🙄
load more comments
(2 replies)
That would be relevant if Biden were currently president, and it would have been somewhat less relevant had Biden even been the Democratic nominee for president in 2024.
But Biden wasn't even on the ballot. It's almost completely irrelevant.
When people talk like this, it just reminds me of how they talked about Hillary for Trump's entire first term.
It just gives off the air of bad faith. We're talking about things that are happening right now and are relevant to millions of people. Former politicians can't be anything except a diversion.
That would be relevant if Biden were currently president
LOL, is Reagan currently President? Read what I replied to before telling me if my comment is relevant.
load more comments
(18 replies)
They are a known both sideser
Joe Biden forgave half a trillion dollars worth of student loan debt, the Supreme Court told him he couldn't, and he still managed to get a couple of hundred billion forgiven.
All this stuff Trump is now undoing is stuff that Biden did. All these people having their wages garnished, are suddenly having problems because of Biden's people losing the election.
I don't know what or when you're talking about here although I assume it is roughly accurate. Biden did all kinds of fucked up stuff from supporting segregation to supporting Clinton's neoliberalism to the Iraq War and all of it, sure. Israel too, even up to the present day. If you want to tell me we need to get rid of every one of those 1990s Democrats I will 100% agree with you because they are fucking everything up. Biden somehow turned himself into not one of them (except on Israel) even though he was the same age.
I think people are still attacking Biden just out of habit at this point, because what's done is done. But if his party had won, this particular instance of bullshit (along with an incredible amount more) would not be happening. That's what is most relevant here. If you want to look at a broader scale, then let's say that if not for Reagan and for a generation of young people too cool to vote for Democrats because they thought it would help end the Vietnam War if they stopped voting, maybe we'd still be able to support a family on a single income and go to the doctor when we needed to.
Do they do group rates?
load more comments
(1 replies)
load more comments
(1 replies)