Occupy Wall Street and the Personal Debt Crisis

[patrice]

25. Do you mean student loan forgiveness?

When I hear that kind of talk, I agree with the principle, but I also assume that those speaking of this know at least a little bit about how, at least officially, things are done, so that objective, student loan forgiveness, will be accomplished in one degree or another as a part of a set of other negotiations that go into the collective known as the USA and those efforts could result in other benefits to student debt holders that they could acquire for their part in a deal and which benefits would not be available to them otherwise . . .

. . . or not, as they choose, especially since they can always just default and accept the consequences of that, part of which could be living by the collective negotiations of other defaulters, perhaps, for whatever benefits that will or will not yield to them.

Of course, everyone understands that persons in such situations look for the best deal for their circumstances relative to their personal goals, so the questions are about how many other people one needs to create that synergy between assets and liabilities relative to needs and desires. Depending upon how many people that is, too few are as damaging as too many, though with different consequences.