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RE: What will bring on the next imminent US economic collapse?
Excellent post @beunconstrained I hadn't thought about that yet.
I think the student loan crisis story would need to go viral or something like that for it to get the attention of politicians.
And the fact that a U.S. President, even a Democrat would not want to be responsible for the next financial crisis might also prevent this from being addressed.
Presidential candidate Andrew Yang has mentioned debt forgiveness but I am not sure how he would implement it.
Btw, I live in the Philippines so I am not sure how much news coverage student loan debt is getting - Is the story already viral?
Obama did attempt to address this, but more along the lines of promoting community colleges as an alternative for those that couldn't afford college. He was almost trying to create a competition to the existing college structure, but despite the effort it didn't really fly. Kids don't see community college as much more than a glorified trade school and most of that is often best taught in apprenticeship rather than in a school lab environment. The thing is that until they remove the bankruptcy provisions from this debt load, it will continue to grow at a rate that is downright dangerous - not that it hasn't already hit that level. I mean $1.5 trillion in debt load? That is crazy. This has to change or it will bankrupt all of us.