Ending the Secrecy of the Student Debt Crisis

https://www.alternet.org/ending-secrecy-student-debt-crisis?src=newsletter1096274

Gamblers and reality TV stars can claim bankruptcy protections when in financial trouble, but 44 million student loan borrowers can’t. Unemployed, underpaid, destitute, sick, or struggling borrowers simply aren’t able to start anew.

With a default rate approaching 40 percent, one would expect armies of distressed borrowers marching in the streets demanding relief from a system that has singled out their financial anguish. Distressed student debtors, however, seem to be terror-struck about coming forward to a society that, they say, ostracizes them for their inability to keep up with their finances. The student loan system was rigged. See lawsuits vs Navient on Wikipedia.

Money in 2024 - Millennials are now earning money, employed after college. Don’t enter the stock market now; not until the risk has been reduced. Just a warning here. Put savings into certificates of deposit insured by the federal government, FDIC, or into U. S. Treasury funds for now. Sock it away safely for a future home down payment. Don’t consider buying now. A future down-payment of 50% or 100% is safer. There is a debt-to-income ratio that must be possessed for "qualified mortgages". Do not embark on a sub-par mortgage or a variable interest loan. Financial companies can change the rules after the contract is signed.

https://en.wikipedia.org/wiki/Consumer_Financial_Protection_Bureau#Proposed_amendments

Financial Vultures are Waiting for their Feast

In 2010, the Dodd–Frank Wall Street Reform and Consumer Protection Act was enacted in the US to protect consumers and "promote the financial stability of the United States"[8] after widespread financial fraud in 2007-8. Key provisions of Dodd-Frank have been “rolled-back” by the Trump Administration recently. https://www.cnbc.com/2018/05/24/trump-signs-bank-bill-rolling-back-some-dodd-frank-regulations.html

The bottom line is that wealthy oligarchs (controlling government) choose U.S. laws to their benefit, deregulating financial institutions, eliminating environmental and educational public protections, and privatizing for profit: e. g. immigration internment of children, privatized prisons, federal lands, and schools.

Now is not the time to invest in the stock market or real estate because these are manipulated by insider trading, millisecond trading, and (Trump/Putin’s) money-laundering mob. Support the elimination of rich-“Citizens United” money (e. g. billions fraudulently taken out of our retirement funds and donated to GOP elections) and their obstruction of government and corruption of American finances. Caution with money is the best plan right now.

Join boycotts of oligarch industries and mega-corporate media monopoly giants, to overturn the monopolies. Green energy will replace the bipolar American energy price structure toppled by fossil fuels. Carbon neutrality will restore our planet to habitability, displacing oil & gas that destroy it. Christophers, Brett, The Price is Wrong, Why Capitalism Won’t Save the Planet, see spot markets Fig. 6.1-2.

When to listen regarding money?

First, caution… the stock/bond market is on the edge of failing, … again.

Wait for fair regulation of financial institutions.

Watch Rachel Maddow (MSNBC), a Millennial, youthful, energetic, informed, active. Her reactions and responses are fun & insightful. She’s a gem. She knows who is corrupt.

For now, stay out of the Wall Street fiasco. Neither a borrower nor a lender be.

Make sure your Boomer parents and friends are aware of the upcoming election and will vote against fascists, who's GOP Project 2025 aims to eliminate Social Security and Medicare.

Make sure your Gen Xs, Millennials and Gen Zs recognize and ignore the fascist propaganda pounding down on them from the internet and TV. Election 2024 Nov. 5 is an all-or-nothing effort by oligarchs (and foreigners) to take over America and install their fascist dictator with the power to eliminate your job and impoverish the 99%. I know you are stressed. It is better for us all to be actively engaged for a couple months, and then win the battle of the Century, for America.

Demand that all generations ignore the fascist propaganda and Vote for Democracy to save America from the fascist Project 2025 dictatorship.

Spread the word to VOTE for Democrats, who will restore faith in government and bolster laws that protect you, children, future grandchildren, and us all.