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 Asks: "What is Money, and Where Does it Come From?" | Occupy Oakland
John Cassidy: Is Surging Inequality Endemic to Capitalism? : The New Yorker -
#Inequality as endemic to #Capitalism. On Thomas Piketty’s book ‘Capital in the 21st Century’
Public Banking at the Post Office! | Occupy Oakland -
Come hear about #PublicBanking at the Post Office this Saturday with Laura Wells. Plus music!
Occupy Forum – What is Money? Part II – 3/24 @6PM
source: Bard Strike Debt https://www.facebook.com/BardStrikeDebt
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
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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