Saying they will forgive $10k sounds better for the students with debt, but it's pissing off the taxpayers who feel they are actually paying for it. There are a lot more taxpayers than student debtors, so they're angering the majority to buy the votes of a minority.
The reality is the tax payers are not paying anything by them forgiving the $10,000. A chunk of the $10,000 being forgiven was just interest that was accruing while the students were still in school and as I stated they will get back that $10,000 over the life of loan in interest. It is a talking point for the media to rile people up and it is obviously working. They are forgiving $10,000 to people that are going to vote for them anyway.
The handout didn't create this mess, intentionally killing supply chains across all markets did... still the same initiators just a different directive. They want everyone to be poor so they can push their socialist bullshit
Shutting down the world played its part for sure. But if like I do, you believe that inflation is caused by too many dollars chasing too few goods/services, you can see that printing money that wasn't earned, and giving it to people who didn't create goods or services for it will add to inflation. Your flip side is that there are fewer goods and services to go along with that printed money due to the shutdown.
Their continuous use of the printing press is definitely an issue, did you see the chit going on in the Netherlands? They're trying to kill their food growth and distribution network there on a larger scale than here. They're breeding an international crisis out of their greed.
All the smart kids will consolidate their student loans, my boys consolidated all their loans into one and got the interest rate down to 5%. I think the current rates on those student loans from our Government are near to 9%. That being said because they consolidated, and now the loans are personal loans, zero loan forgiveness coming their way. There needs to be a better system than borrowing money from the Gov to fund your education.
Regarding PPP, no, its not "MSNBC talking points getting around". It is fact, and all of those facts are a matter of public record. You can look up PPP Loan Amounts/Loan Forgiveness amounts by zip code, and it is shocking to see who got free money and how much. Did hospitals shut down for COVID? Did Law Firms shut down for COVID? Did beer distributor ships shut down for COVID? Did Farm Labor Contractors shut down for COVID? No. With the exception of businesses that were actually shut down for long periods of time by the government (restaurants, bars, etc), I would bet COVID was actually a boom for most businesses in the long run, after a couple weeks of an adjustment period. Yet people who have already made their fortunes were awarded hundred of billions of dollars, newly printed and/or borrowed from China, so that they could buy second and third houses, private planes, high end RVs, etc. etc. And during all of this, the only "adults throwing a tantrum until they get what they want" that I saw were large business owners yelling at bankers because their PPP "loan" applications weren't getting processed fast enough. We got got, and it really pisses me off.
I can't believe how high the interest rates are for student loans. When I was in school many moons ago it was 3%.
