A Quote by Jill Stein
There's one other element I just want to be sure to mention here: that is that there are 43 million young people who are locked into predatory student loan debt for whom there is no way out in the foreseeable future given the economy that we have: this predatory Wall Street driven financialized low-wage service industry economy.
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There are 43 million people who are locked into predatory student loan debt, from which there is no exit.
Unfortunately, this will have a ripple effect in the economy. People carrying heavy student-loan debt won't buy houses, start families, or start businesses. This will hurt the future economy.
There's nothing normal about graduating with massive student debt, where you live in fear of predatory debt collectors and wage garnishers even as you are starting to live your life.
I think we're at a really unique moment right now because the American people are waking up to the fact that it is a race to the bottom between these two corporate parties that are sending jobs overseas, putting downward pressure on wages, starving people out of healthcare, locking an entire generation into unpayable predatory student loan debt.
Today the predatory state, or the predatory group of states, with power of total destruction, is no more to be tolerated than the predatory individual.
The wealth of the country, its capital, its credit, must be saved from the predatory poor as well as the predatory rich, but above all from the predatory politician.
The jobs that have come back have been extremely insecure low-wage benefit poor temporary jobs. Young people are screwed. They don't have a way to pay off their debt. And when they discover that they could come out and vote Green to cancel that debt, that I am the one candidate who will bail out the students like we bailed out the crooks on Wall Street, then it becomes an irresistible motivation to actually come out and vote Green.
I just want to note that 43 million young people in debt is enough to win a three-way Presidential race.
What Wall Street and credit card companies are doing is really not much different from what gangsters and loan sharks do who make predatory loans. While the bankers wear three-piece suits and don't break the knee caps of those who can't pay back, they still are destroying people's lives.
Crippling student loan debt doesn't just affect those who took out loans to get an education. It harms all of us because we can't have a healthy economy without a strong middle class to stimulate it.
As boom- and bust-prone as high finance always has been and remains, the greatest systemic risk to our economy is not Wall Street. It's the growing federal debt (and weakening dollar) being enacted by those Washington politicians - the ones who want to protect us from Wall Street.
We call for cancelling student debt, for bailing out young people like Wall Street was bailed out to the tune of $16 trillion.
Student loan debt is crushing young people. And so they're not doing the things we would expect them to do. They're not moving out of their parents' homes in as big a numbers, they're not saving up money for down payments, they're not buying homes or cars or starting small businesses or doing any of the things that help move this economy forward.
So we are in for years of debt deflation. That means that people have to pay so much debt service for mortgages, credit cards, student loans, bank loans and other obligations
that they have less to spend on goods and services. So markets shrink. New investment and employment fall off, and the economy is falls into a downward spiral.
I do believe that we should substantially lower student debt in this country, which is crushing millions of people. We pay for it, in my view, by a tax on Wall Street speculation. The middle class bailed out Wall Street in their time of need. Now, it is Wall Street's time to help the middle class.
The chief moral obligation of the 21st Century is to build a green economy that is strong enough to lift people out of poverty. Those communities that were locked out of the last century's pollution-based economy must be locked into the new, clean and renewable economy. Our youth need green-collar jobs, not jails.
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