I hope you fully understand the magnitude of this student debt cancellation. All three rounds of coronavirus stimulus checks amounted to about $800B in total. The size of this student loan forgiveness is 43M x $10,000 = $400B of stimulus, about half as much. Only this time, the stimulus is targeted towards 20-40 year always-online millennials and zoomers with a history of poor financial decisionmaking. When you take that into account, this is at least as much or more targeted stimulus to the kind of people who pump crypto and memestocks than in the entirely of the '20-'21 stimulus cycle, and it's happening ALL AT ONCE.
Strap the fuck in, because the bull market just got uncanceled HARD.
Bro, none of them were paying their student loans anyways. The shits been deferred for over a year. It's not like they're getting money for this, so what's your point?
Lincoln Martin
they are getting money from this, and it will also count as income, to be taxed at their marginal rate (:
Anthony Nelson
Meme coins/nft’s going to go on another bullrun because of this
Blake Torres
No debt don’t care! Time for market to go pumpy pumpy
Nathaniel Sanchez
Lol, they wont get cash for it. I they did, nobody would pay their loan, are you stupid?
Kayden Reyes
GOOOOO GOOOO GAGA I boughteded the dip
Evan Wood
They should have just give everyone 10k, The plebs would've blown it and I could've bought divvy stocks
Joshua Brown
It’s psychological. Their loan is reduced They get even more careless and think they can splurge more now since they are better. What does that gen splurge on? Crypto
Aiden Jones
that's one retarded take brother, I hope you're careful with your finances.
Colton Richardson
The negation of debt is the same thing as the addition of money, so far as demand is concerned. I have debt and have to pay $400/mo towards it. Suddenly it is canceled and I have $400/mo to spend on something else. Exact same dynamic as being airdropped $400/mo.
Ryder Rivera
When does it actually get implemented?
Julian White
This is one of the most retarded threads I have ever read. Their debt is canceled, sure, but that money was already spent on funko pops and weed years ago. The money goes straight to the banker jews who loaned it out, not to the zoomers and millenials who took the loans.
Grayson Jenkins
No it's not dude. If I'm in debt for a dollar and you pay that off, I still don't have a dollar. Will I be more inclined to go into debt another dollar? Sure, but don't expect this massive wave of buyers.
James Brown
alright so how do I make money on this other than dumping crypto on unsuspecting students? I'm trying to stay ethical.
you're paying $300/mo for a loan and suddenly you don't have to anymore. You now have $300/mo more to spend on literally anything else.
Austin Moore
You're not listening. Nobody has been paying on their student loans since March of 2020. Why do you keep assuming people are paying ANYTHING, let alone $300 a month?
Yeah, but we've all been saving money to do that in the future. Well, at least I have, and I'm now gonna spend that money on investments. It's true for me, so I imagine it'll be true for others.
Gabriel Jenkins
The idea these anons have sits on the assumption that people make bad financial decisions and don't save money for future expenses.
Hudson Long
This. Only potential saving grave is, as other anons have pointed out, a possible psychological boost of morale where people now think "I am unshackled and free, I can do whatever the fuck I want".
Ryan Campbell
It's not getting taxed for fucks sake, stop reporting this.
