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<blockquote data-quote="rickyb" data-source="post: 4952688" data-attributes="member: 56035">because they are the ones most able to pay.&nbsp; its detremental to a society to have these kind of debts.&nbsp; housing debt.&nbsp; student debt.&nbsp; what we owe to the environment.&nbsp; its unsustainable.&nbsp; its been a few months since i listened to michael hudson but i will tell u again writing off the bad debts is an absolute necessity.&nbsp; students pay 7% interest on the debt to the govt which is a predatory lender and holds a monopoly on the debt.&nbsp; guess what interest rate wall street gets on the debt from the federal reserve <img src="/community/styles/default/xenforo/smilies/wink.png"&nbsp; class="smilie" loading="lazy" alt=";)" title="Wink&nbsp; &nbsp; ;)" data-shortname=";)" />look at wwII.&nbsp; germany was forgiven of its debt because its socially destructive to keep such debt and that was probably something that led to hitler.</blockquote>

[QUOTE="rickyb, post: 4952688, member: 56035"] because they are the ones most able to pay. its detremental to a society to have these kind of debts. housing debt. student debt. what we owe to the environment. its unsustainable. its been a few months since i listened to michael hudson but i will tell u again writing off the bad debts is an absolute necessity. students pay 7% interest on the debt to the govt which is a predatory lender and holds a monopoly on the debt. guess what interest rate wall street gets on the debt from the federal reserve ;) look at wwII. germany was forgiven of its debt because its socially destructive to keep such debt and that was probably something that led to hitler. [/QUOTE]

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