General Discussion

Scuba

(53,475 posts)

18. Still looking for the "... they say there is no need to pay back the loan ...".

Reply to badtoworse (Reply #17)

Thu Sep 4, 2014, 09:21 AM

Sep 2014

You're free to interpret the article any way you please, but you're not free to just make shit up.

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Strike Debt! You are not a loan. [View all] Scuba Sep 2014 OP

"We want an economy in which our debts are to our friends, families, and communities badtoworse Sep 2014 #1

"... they say there is no need to pay back the loan ..." Can't find that part, can you point it out? Scuba Sep 2014 #6

"Strike Debt holds that we owe the financial institutions nothing" badtoworse Sep 2014 #7

Yeah, but where's the part about not paying back existing loans that you mentioned? Scuba Sep 2014 #8

If you held that a debt was illegitimate and that you owed the lender nothing,... badtoworse Sep 2014 #10

You gloss over the life necessities part. morningfog Sep 2014 #12

So you borrow money not expecting to have to pay it back? badtoworse Sep 2014 #13

You borrow money out of necessity. morningfog Sep 2014 #14

You didn't address the pay it back part. badtoworse Sep 2014 #15

I did, you ignored it. morningfog Sep 2014 #25

I guess I missed that, but let's be clear. badtoworse Sep 2014 #39

Meh. Fuck the lender. morningfog Sep 2014 #47

What an erudite response. Pretty much what I was expecting badtoworse Sep 2014 #49

Forgive me if I don't lose sleep over big bank's losses due to their morningfog Sep 2014 #51

Pretty much sums up your point in the argument taught_me_patience Sep 2014 #50

I'm crushed. morningfog Sep 2014 #52

Wow joeglow3 Sep 2014 #72

I'm devastated. morningfog Sep 2014 #73

Keep saying that joeglow3 Sep 2014 #74

You're sorely mistaken if you think joeglow's opinion morningfog Sep 2014 #83

Stating facts is not a personal attack joeglow3 Sep 2014 #88

But still, you're making shit up to suit yourself. The article does NOT state what you said it did. Scuba Sep 2014 #16

So how do you interpret "we owe the financial institutions nothing"? badtoworse Sep 2014 #17

Still looking for the "... they say there is no need to pay back the loan ...". Scuba Sep 2014 #18

Strike Debt, which came out of OWS btw, DOES pay off the debt. What they do is sabrina 1 Sep 2014 #20

That's fine if they do that. badtoworse Sep 2014 #22

I believe they are talking about the practice of Financial Corporations buying up debt sabrina 1 Sep 2014 #24

Whatever, but their positions are still laughable. badtoworse Sep 2014 #21

They've managed to wipe out 5 million in debts Generic Other Sep 2014 #40

See Post 39. I'm fine with them doing that. badtoworse Sep 2014 #45

After causing near economic collapse and being bailed out by the government Generic Other Sep 2014 #57

It's the banks fault is an easy cop out for everything that's gone wrong since 2008. badtoworse Sep 2014 #61

It still puts you behind and means postponing retirement Generic Other Sep 2014 #63

If the.. sendero Sep 2014 #79

So how do you connect that to jobs being offshored? badtoworse Sep 2014 #80

Because you are okay with usury. We get it. Live and Learn Sep 2014 #75

Do you even know what usury is? badtoworse Sep 2014 #78

Funniest article I have read in a long time yeoman6987 Sep 2014 #2

Try being indebted to Sallie Mae. smirkymonkey Sep 2014 #3

That sucks. delta17 Sep 2014 #4

Strike Debt does not say you don't have to pay off debt. They buy up debt as Corps do, sabrina 1 Sep 2014 #23

OK, sounds like they are putting their money where their mouth is. delta17 Sep 2014 #28

Thanks Sabrina! smirkymonkey Sep 2014 #69

Sorry about that, smirkymonkey. There is a link in the OP which explains how Strike Debt operates. sabrina 1 Sep 2014 #71

Thanks sabrina 1! smirkymonkey Sep 2014 #91

+1 nt Live and Learn Sep 2014 #76

Thanks delta17! smirkymonkey Sep 2014 #68

Sallie Mae is vile beyond belief. Their practices should be illegal. n/t Laelth Sep 2014 #87

I wanna buy a copy, but I'm a little short on funds... Fla_Democrat Sep 2014 #5

Complete utter kakabull taught_me_patience Sep 2014 #9

The Very Concept of Leverage, Right? ProfessorGAC Sep 2014 #27

Got any idea where a student might be able to get a deal like that? I KNOW that some of the wives sabrina 1 Sep 2014 #30

The million dollar loan example was used as an illustration taught_me_patience Sep 2014 #43

'Can recover the cost of education in 20 years'. Wow! We have people now in their late fifties and sabrina 1 Sep 2014 #56

Every student saved should be working with them Generic Other Sep 2014 #44

I agree, thanks for reminding me, I don't remember if they have a way for an automatic sabrina 1 Sep 2014 #54

k&r for exposure. Laelth Sep 2014 #11

I can tell you what would happen in a jubilee; oligarchs or not. BKH70041 Sep 2014 #19

Oh, how pride goeth before the fall, lol. closeupready Sep 2014 #34

Then if jubille were to ever happen, you try it. BKH70041 Sep 2014 #42

Post removed Post removed Sep 2014 #46

You have been very fortunate. Laelth Sep 2014 #62

Sweeping generalizations should be avoided. WillowTree Sep 2014 #70

OK, so you're rich too. Bully for you. Laelth Sep 2014 #86

Ah.......generalizations AND assumptions. WillowTree Sep 2014 #89

The 1% and Wall Street have conditioned us well. randys1 Sep 2014 #26

Yes. You see that conditioning in most of the responses here, closeupready Sep 2014 #29

Can I borrow $500? Nuclear Unicorn Sep 2014 #32

How old are you? Do you have a credit history? Do you own or rent? closeupready Sep 2014 #38

Credit history?!? Pffft! That's sooo corporatist. Nuclear Unicorn Sep 2014 #48

Almost like they want the same exact info a bank wants to justify loans. NCTraveler Sep 2014 #55

Mindless followers of big banks. morningfog Sep 2014 #53

It is why I said it, and you can bet most who have problems with striking are people that didnt randys1 Sep 2014 #58

I'd pay $5 to go to Yellowstone regardless of who owned it, the government or a private owner. Nuclear Unicorn Sep 2014 #31

There's no reason for an 'entrance fee' to a NATIONAL park leftstreet Sep 2014 #33

Really? Are you absolutely sure about that? Nuclear Unicorn Sep 2014 #35

Yes n/t leftstreet Sep 2014 #37

Golly. Cuz I remember not being able to take my SIL to any national parks Nuclear Unicorn Sep 2014 #41

Well, since you were inconvenienced by the Teabaggers' Bullying Tsiyu Sep 2014 #92

Bulverism. Donald Ian Rankin Sep 2014 #59

DURec leftstreet Sep 2014 #36

In this system, education is a commodity like any other. lumberjack_jeff Sep 2014 #60

Most people hope that their children will make more money than a barista. Laelth Sep 2014 #64

Deal with the world as it is, not how you hope it is. lumberjack_jeff Sep 2014 #65

I hear that. Laelth Sep 2014 #66

If college defines success then; "Yay! you're a success!"... So, pay the man. lumberjack_jeff Sep 2014 #67

K&R NuttyFluffers Sep 2014 #77

Other than abortion or the death penalty... sendero Sep 2014 #81

My response to this thread might be off too. nilesobek Sep 2014 #82

I generally agree with you, but I have a question about student loan debt. badtoworse Sep 2014 #84

Probably.. sendero Sep 2014 #85

Unfortunately, you are a loan to some lenders. smirkymonkey Sep 2014 #90