Yeah, I don't get it.
These people would default on the loans anyways. This would create a domino effect, taking down the entire market. They can brush it off as loan forgiveness and get the political w. Make no mistake, they have to wipe the debt because default is nuclear.
If the government is 34 trillion in debt and the average Joe is 100k in debt and we just keep printing money and adding interest and raising taxes everything should just work out no problem. Now I get it
My criticism is the banks issuing the loans, knowing they were going to wipe it when people realized they got sold a pipe dream. The dollar is fake and the debt will never be repaid. 34 trillion aint nothing yet. Get into physical assets because cash is burning quick.
Defaulting on them won't change that they would still owe on them (Student loans) at least. Student loans cannot be cleared by bankruptcy.
You're talking micro and I'm talking macro.
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