Strike Debt Bay Area

As individuals, families, and communities, most of us are drowning in debt. Debt keeps us isolated, ashamed, and afraid. We are not a loan. Join us as we imagine and create a new world based on the common good, not Wall Street profits. Subscribe to our mailing lists and stay up to date on the latest news. Just send an email to any and all lists you are interested in joining:


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“Just as bosses are dependent on workers, so are lenders dependent on borrowers. If workers walk out, the enterprise stops. If borrowers refuse to pay their debts, the lenders could be in real trouble. Each side depends on the other. The millions of underwater mortgage holders, of student debtors and credit card holders, need the bank loans – but so do the banks need those borrowers, and they especially need them to cooperate by paying their monthly charges. Otherwise, the capital that the banks list on their books begins to drain away.” ~Francis Fox Piven
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Saturday, April 26, 3pm at Oscar Grant Plaza (formally Ogawa Plaza, in front of Oakland City Hall).

We’ll have reportbacks on our various actions, and plan for what’s next. Hope to see you there.

Strike Debt Radio, Show #5, airs this Wed. April 2, on KPFA’s “Morning Mix”, 8-9:00AM.
"What is Money?"
We explore how money is created, some common misconceptions about money, and we interview public banking advocate Ellen Brown, author of “The Web of Debt” and Green Party candidate for CA State Treasurer.

Listen live tomorrow (Wed) starting at 8:00AM:
94.1 FM  or
https://www.kpfa.org/streams/kpfa_24k.m3u

Listen later:
https://www.kpfa.org/archive/show/66140
https://soundcloud.com/cassie-thornton

#Inequality as endemic to #Capitalism. On Thomas Piketty’s book ‘Capital in the 21st Century’

Come hear about #PublicBanking at the Post Office this Saturday with Laura Wells. Plus music!

Busting up the Debt boulder-piñata at Strike Debt Bay Area’s book release party for the Debt Resisters’ Operations Manual.

swpucsc:

Strike Debt!

source: Bard Strike Debt https://www.facebook.com/BardStrikeDebt

majoringindebt:

Even if most Americans agree that the ethical standards of bankers are low, the seduction of the American success story still dumps on them a huge burden of guilt for becoming mired in their loans.

So strong is the narrative that to be in debt reflects some personal failing, that average Americans, who needs to go into debt to pay for the bare necessities—food, housing, education, medical expenses—enforce the payback morality of the big banks. Study after study find that borrowers feel shame about being in the red, resulting in an unwillingness to share their story with others. One study conducted by the Royal College of Psychiatrists, which reviewed thousands articles on debt and mental health published between 1980 and 2008, found that people with housing debt experience, “heightened levels of uncertainty; and feelings of stigma, shame and biographical disruption.” It also found that in general, “People with debt and mental health problems often do not seek help for financial difficulties.”

A 2013 study out of Northwestern found that young adults ages 24-32 in debt had higher diastolic blood pressure and rates of self-reported physical and mental health issues. Debt grinds on the American psyche, yet speaking out against debt, or even speaking about one’s debts, is discouraged.

The Average 25-Year Old’s Debt Has Grown 91% in the Last Decade

policymic:

Michigan’s bold solution to student debt: Attend college for free, pay once you get a job

With $1 trillion worth of ever-increasing debt crippling students and graduates, states across the country are looking at new solutions to finance education. While proposals have ranged from lowering tuition to increasing taxes on the rich, Michigan may have the most novel solution yet: attend college for free, then pay for younger students once you start making money.

The pay-it-forward model is also being studied at 20 other states, but Michigan is the closest to actually launching a pilot program. According to the current proposal in the Michigan legislature, graduates will pay a certain percentage of their income — 2% for community college and 4% for university — to a tuition fund. For every year they receive free education, they will have to pay the fund for five years; so if you attended a four-year college, you will be contributing money for 20 years after graduation.

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