Was just watching his latest pod.
Student loan debt is obviously already bad because now everybody has to pay for someone's choices.
But Tim Pool made the point that these leftists claim they don't like the establishments & the rich companies and student loan debt forgiveness would literally be putting millions of dollars into rich peoples hands.
Once again, leftists are just stupid and don't know what they're fighting for.
The problem is not the debt jubilee, but a distortion of the prices caused by the introduction of debt. Debt jubilees are going to have their winners and losers, but they are absolutely necessary to correct the inefficiencies in the economy.
Winners; big internationals with millions even billions of debt. Losers: everyone else
You still have to use money after the jubilee and it will be worth less or worthless.
No, you don't know what you are talking about. The losers of a national debt jubilee are the banks and the land owners. The banks because they lose the money they earn in renting out capital, the land owners because they lose the money they earn on renting out their land. The winners are basically everyone else, because the prices now reflect the real value of commodities. Boomers will lose their fifth house, millennials and zoomers can start a family and the economy is sustainable again.
Yea, fuck all the money I saved. I should have just borrowed and spent like a drunker sailor. The "real" value of commodities like venezuela or weimar germany.
The zoomers will be able to start a family by moving into abandoned houses and the economy of barter will be sustainable.
When has this ever been tried before? The middle ages? The only time I've seen it come up is from socialists.