Category Archives: Debt Relief

William White: Epic Defaults Ahead

The Telegraph: “The only question is whether we are able to look reality in the eye and face what is coming in an orderly fashion, or whether it will be disorderly. Debt jubilees have been going on for 5,000 years, as far back as the Sumerians.” — William White, Former Chief Economist, Bank of International Settlements

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Needed: Student Loan Debt Jubilee

President Obama’s proposal for tuition-free community college education, and the broader discussion that it has inspired, confirms our belief that it is time for a comprehensive solution to a $1.3 trillion problem: student debt in the United States.

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More than 1/2 of US Schoolchildren Live In Poverty

Huff Post: Overall, 51 percent of U.S. schoolchildren came from low-income households in 2013, according to the foundation, which analyzed data from National Center for Education Statistics on students eligible for free or reduced-price lunches. Eligibility for free or subsidized lunch for students from low-income households serves as a proxy for gauging poverty, says the foundation, which advocates education equity for students in the South.

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Obama promises Student Debt relief

President Obama will announced on Monday an expansion of a program that helps student loan borrowers manage their debt, a White House official said.

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First move toward debt-free money? Meet the Trillion Dollar coin

While some may laugh, the ideas that underpin this are important: debt-free money and the power of the Treasury to control money outside of the Federal Reserve.  In other words, the power to create money has and should remain with the sovereign state (the people) and not private banking interests (The Federal Reserve).  The bottom line is we should all support  the positive money movement.

Read more about the Trillion Dollar Coin here.

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Occupy Wall Street: Forgive Debt

From CNN:

NEW YORK (CNNMoney) — Occupy Wall Street, the protest movement launched to fight corporate greed and corruption, is now buying up peoples’ debts and forgiving them.

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Steve Keen: Debt Jubilee Necessary

Debt Forgiveness is one of the key elements in a Framework for Peace discussed in my book A World Without War. Keen also proposes, as also outlined in the Framework, a ‘systemic approach’ that lends credibility to using Systems Thinking to determine how the Jubilee is implemented. The bottom line: An intelligent, modern Debt Jubilee using a systemic approach.

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Debt Relief Most Effective Technique In Combating Foreclosures

NEW YORK (CNNMoney) — Reducing the amount struggling homeowners owe on their mortgages is proving to be a more effective way to prevent foreclosures than other methods, such as reducing interest rates or postponing payments, a new report finds.

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Debt Relief  is one of the tenets of a Framework for Peace as outlined in the book A World Without War.

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Krugman: Banks Get Bailouts, Unemployed Left Behind

So there’s nothing necessarily wrong with this latest bailout (although a lot depends on the details). What’s striking, however, is that even as European leaders were putting together this rescue, they were signaling strongly that they have no intention of changing the policies that have left almost a quarter of Spain’s workers — and more than half its young people — jobless.

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American’s Wealth Dropped Nearly 40% During Recession

The median family’s net worth dropped 38.8 percent during  the three-year period, the Fed said in its latest report on  changes in U.S. Family Finances, derived from a survey of  consumer finances. Fed economists told reporters that this was  the biggest drop in net worth since the survey started in 1989.

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