Biden administration cancels $72 million in student debt for more than 2,300 borrowers

https://www.cnbc.com/2023/08/30/biden-administration-cancels-72-million-in-student-debt-.html

#CNBC #BidenAdministration #StudentDebt #DebtCancellation #Borrowers #HigherEducation #Politics #News

#DebtCancellation is an essential component of #ClimateJustice. I'm sure #Bearbock has it at the top of her agenda. No?

https://www.theguardian.com/global-development/2023/aug/21/rich-countries-trap-poor-nations-into-relying-on-fossil-fuels

Klimagerechtigkeit und Schuldenerlass gehören zusammen. #DebtCancellation

Der globale Norden hält den globalen Süden in Abhängigkeit.

Staaten können nicht in einen ökologischen und sozialen Wandel
investieren, wenn Schulden bedient werden müssen.

The murder of Eduardo Mendúa must fuel resistance movement in the Global North to demand #DebtCancellation and make this story heard. Full cancellation of Ecuador's external debt is possible: it would cost less than what the US spent on the Ukraine war. @DebtforClimate (14/16)

And far from regretting this, she went on to write elaborate justifications for the cruel policies she helped administer.

The historian #MichaelHudson describes #debt and #DebtCancellation as a key determinant of whether a given civilization survives. In every venture, producers have to borrow capital from lenders - farmers, for example, must borrow to pay for seed and fertilizer and labor. When the ventures are successful, the borrowers pay back the lenders.

29/

The approval of #LossAndDamage fund at #COP27 still needs concrete creation and application & #DebtCancellation must come with it. These measured need to be protected from the corruption of financial elites for GS communities to benefit from it.

"Debt is surely the most effective means created for taking relations founded on violence and oppression and making them seem right and moral. " D. Graeber
#DebtCancellation is an essential strategy for climate justice targetting systemic oppression rather than indiv. behavior.

The 70th anniv. of the German debt cancellation reminds us how debt relief fueled the country's post-war reconstruction. Nowadays, neo-colonial structures like the IMF & gvts unjustly hold on to the colonial debt of Global South countries. @DebtforClimate
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RT @DebtforClimate
1/14 70th anniversary of #Germany's #DebtCancellation after #WWII! This laid the foundation for 🇩🇪’s economic "miracle". Here’s why a debt cancellation for …
https://twitter.com/DebtforClimate/status/1629940065982922752

Der @DLF berichtet über unsere Aktion und befasst sich eingehend mit dem Thema Schuldenstreichung. Hörenswert!

https://www.deutschlandfunk.de/klimaaktivisten-fordern-schuldenschnitt-fuer-sueden-wie-vor-70-jahren-dlf-b3cd6843-100.html

#Debtforclimate #DebtCancellation

The 1953 London Debt Agreement on Germany’s debt | Germany benefited from the cancellation of most of its debt as of February 27, 1953. This cancellation was instrumental in helping the country regain its position as the leading economic power on the European continent. Since then, no other country has received such favourable treatment. It is very important to know the why and how of this debt cancellation. #debt #DebtCancellation
https://www.cadtm.org/The-1953-London-Debt-Agreement-on-Germany-s-debt

RT @DebtforClimate
1/14 70th anniversary of #Germany's #DebtCancellation after #WWII! This laid the foundation for 🇩🇪’s economic "miracle". Here’s why a debt cancellation for the Global South is a necessary precondition to enable a #JustTransition & #ClimateJustice!
#DebtForClimate
🧵👇

Takeover wrap-up!
Thanks so much to lovely #LütziLebt for having us today, it means a lot💛

Come join us on Feb 27 to make very clear what the 70th anniversary of 🇩🇪 #DebtCancellation really shoould look like: a breakthrough in #ClimateJustice and #JustTransistion ✊

👇[1/2]

If #DebtCancellation was possible for Germany back then, it is most certainly possible for the Global South now to enable a self-determined and #JustTransition.
👇[17/18]

⏭️to today:
🇩🇪 is not only the world's 4th largest historical polluter and the 4th largest voting power in the #IMF.
It also owes much of its current economic power to #DebtCancellation and the extremely favourable conditions to pay back the remaining debt.
👇[9/18]

This downward spiral must be stopped! That is why we as #DebtForClimate demand the #DebtCancellation of countries of the Global South in order to bring about a self-determined and socially #JustTransition and #ClimateDebtJustice #DeudaXClima #CancelTheDebt [9/9]

Global North government leaders know that #DebtCancellation is easy if there is political will. After #WWII, Germany itself benefited from debt cancellation which played a major part in its economic miracle #DebtForClimate #DeudaXClima 👇[4/7]

Because #DebtCancellation would enable transformative action for social and #ClimateJustice. And… BECAUSE IT IS POSSIBLE, AS THE GERMAN EXAMPLE IN 1953 HAS SHOWN! #DebtForClimate
Stay tuned for more... [8/8]

Because #DebtCancellation prioritizes the real systemic causes of global social and #ClimateInjustices, rather than individual behaviours of those who simply cannot afford personal change in an oppressive system. #DebtForClimate👇[7/8]

@kkarhan
Lesser of 2 Evils is still Evil, and voting for either Corporate-owned party is continuing to prop up the Oligarchy.
We all know GOP Leaders suck, but Dem Leaders also suck, as they have done diddly squat for suffering Americans.
No #Medicare4All
No #Housing4All
No #LivingWages
No #DebtCancellation
And endless $$$ for proxy wars instead of providing for suffering Americans' basic needs. Lesser Evil is Still Evil.

> .. “It is unfair for BlackRock and other lenders to make massive profits out of Zambia’s #DebtCrisis. If BlackRock refuse to cancel #Zambia’s debt, then the #UK and other# G20 countries should support Zambia to stay in default on #BlackRock, and pass legislation to make them accept #DebtCancellation.”
https://debtjustice.org.uk/press-release/blackrock-could-make-110-profit-out-of-zambias-debt-crisis
#Jubilee I learned a lot from the #Jubilee2000 movement. A RT by @JayatiGhosh brought my attention to this example of #OdiousDebt, #DropTheDebt