Education should be free! Here’s a modest proposal. A college loan payment strike. Easy for me to say, since I have no such loans, but my son does. We can take our time. Set a date for the strike to begin, say Labor Day, 2019. Develop an organization. Get people to commit to joining the strike. Open an escrow account somewhere that the money can’t be seized (bitcoin? Cayman Islands?). People pay their loan installments to this special account. Assemble a legal team to advise us on how to protect our other assets from being seized by the government. Now we have the power to negotiate.
Americans owe over $1.48 trillion in student loan debt, spread out among about 44 million borrowers. If this idea of a strike took off, it could bring down the capitalist system. Those loans are held by banks in those creepy packages, derivatives or whatever, that brought down the economy last time.
Do we want the system to collapse? Some of us have been predicting this collapse for 150 years. Some day, and I’m betting sooner rather than later, we’ll be right. I would argue that the capitalist system collapsed in 1929 and it’s only through perpetual warfare that it’s been able to survive these 90 years. Now we have an opportunity to control the collapse.
When I told my son this idea, his eyes lit up. That doesn’t happen very often. Does it light up your eyes?
I know there have been other efforts along these lines, but I think they haven’t taken off because they’re missing the escrow piece that potentially protects people — this is how you organize a rent strike, for example. PM me if this interests you and we’ll set up a Facebook group.