Your Debt Is Someone Else’s Asset
ฝัง
- เผยแพร่เมื่อ 8 ธ.ค. 2021
- Student loans, medical bills, credit cards - Americans are drowning in a record-breaking $15 trillion in debt.
Covering thousands of years in just under seven minutes, “Your Debt Is Someone Else’s Asset” ends with a rousing vision of the future: a world after a jubilee, an ancient term for the abolition of debts and rebalancing of power between the rich and the poor.
A collaboration between The Intercept; artist Molly Crabapple and her creative partners at Sharp As Knives productions; and writer Astra Taylor, this short film invites us to understand our debt in new ways. Our monthly payments are a source of profit, a form of wealth transfer from struggling borrowers to the well-to-do. These profits are a source of power; debt is never just about money. In the United States, debt has long been used as a form of social control and a tool of white supremacy.
Taylor is a co-founder of the Debt Collective, the nation’s first debtors’ union. This film reflects Taylor and the Debt Collective’s conviction that debtors and their allies will need to get organized to fight for the political and economic transformations we deserve.
THIS is the type of content I want to see on youtube
Yes!
What a therapeutic way to convey content. Loved the watercolor time lapse. Too bad so many attribute debt as personal responsibility without considering the higher costs of being poor. I was fully disabused of that notion when I read Nickeled And Dimed. It's expensive to be poor. I hope things change.
Oh my, the topic and narration to the point and blatant. The visual so eyes catchy, I would gladly watching it 10x more just to see her drawing.
This is considerably more based than I expected...
Your inability to spell is EXACTLY the reason why education should be free.
Excellent work! Ms. Taylor did a superb job breaking down the information using simple and understandable terms, and Ms. Crabapple did an outstanding artwork to make this presentation even more relatable for those of us who are visual learners. Hope both creators come up with more educational masterpieces like these. To me given the ongoing economic collapse we are experiencing it's not a question of whether, but when we will get jubilee. Keep up with your awesome work.😊✊
I'm all for Jubilee. I couldn't imagine how awesome this would be.
Shame it'll never happen
@@spacetourist247 Revolt ? I though americans had guts and guns ^^
@@spacetourist247 you gotta believe!
I wanna live, not just survive!
For all the conservatives to say "liberals just want everything for free!". No, we don't.
we just want consistency all around.
if you're going to tax the working class, then hold the rich, powerful and wealthy to the same standards and accountability.
You couldn't be MORE RIGHT!
Especially since these rich fucks don't actually do any work and add nothing productive to society. They get paid to steal from people less fortunate than them, it's a disgusting system
Ah-MAZING animation! Great video as a whole but the animation was insane!
Amazing film! This sista needs an Award.
Universal healthcare and government funding of all levels of education seems a good start to reduce debt, expecially if applied retrospectively to forgive or pay off existing debts. It's an interesting perspective shift in the video to see why such programs could have serious pushback from the investor class and those who manage and take commission from those investments. Wall street and co. are forever trying to expand the ways they can make even more money, even if that results in serious detriments to the local and international populations.
Beautiful work. Let the debt strike begin!
good video :)
Brilliant premise, wonderfully executed! It's time--it's really past time--to have this discussion!
If banks were left holding everyone's debit banks would hold your money hostage so you'll need cash to survive after a jubilee. That is kind of hard to do since everything is digital with bank cards and direct deposits. It might not be such a good idea unless things were done properly.
Banks hold most of "your" debt which is their asset while you deposit at the bank is your asset and the bank's liability. You are a creditor and bank cant hold your money ransom.
Oh well I guess it's crushing debt for us all, then! Because hypothetical situation!
This needs to go viral, please share it everywhere with everyone,
This was fantastic!! 💯 agree! I’m definitely sharing this. Great work 👏 👏
I showed this to my students today and was stoked to do so. Please keep giving us amazing content like this!!! Thank you for your work. Cheers!
Your teaching philosophy is part of the problem. Please realize, Your Debt Is Someone Else’s Asset. To get rid of you debt without paying it off is stealing. What happened to accountability in the country?
@@drewwilson6281 tell it to wall street but you're too scared of them
Excellent. Sending link to all my peeps.
Great video 👍
this is really excellent!
The big takeaway from this is that a jubilee will grow the economy and allow more people to buy houses and have kids, etc.
The problem with this is that economic growth and human reproduction are the two main things driving the collapse of the planet's biosphere and then, some say, our near term extinction. I know we all want and deserve some economic justice but.... can someone tie this all together for me in a way that results in a happy ending for humans?
very cool
Very nice drawings BTW... 🤓👍
An interesting argument. Biblically jubilee was every 50 years so basically once in a lifetime. We do have a practice of bankrupcy in the states which you could argue is sort of similar except that student loans are not bankruptable. I would love to see student loans become bankruptable again by making them no longer federally insured. Honestly the only thing this would do would be to make borrowing cyclical since no one is going to issue a mortgage on the 49th let alone 30th year of the cycle. Debt would just vassilate between easy and impossible to procure based on the year. Student debt is a huge problem in the states and we can fix it by no longer issuing 18 yearolds massive loans they can never repay with debatably useless degrees in some cases.
JUBILEE!!! JUBILEE!!! JUBILEE!!!
such a delightful word.
Please, please keep producing these gems...incredible work. Who knew that such outrageous and radical info could be presented in such a beautiful way! I'd love to see any sort of meaningful response from your run of the mill right winger or even liberal.
Great well done documentary.🏆🥇🙌👏💯% true facts.
Absolutely spot on!, many thanks, hope our leaders see the light, asap🤞🏻✌
Why was there no mention of the current bankruptcy laws we have for average people? And how would a federal debt jubilee effect the economy? People should know better than to sign a debt that can’t be removed by bankruptcy. And people should learn not to acquire personal debt in general.
On another note DO NOT LET THE HOSPITAL TALK YOU INTO PUTTING THE DEBT ON CREDIT CARDS! They can’t transfer your debt without your permission as long as you are making payments.
The enlightened one has spoken! But is he too afraid to tell it to the ruling class? Sure looks like it.
Absolutely fabulous video
Wow, great video! 👏🏽
Forgive all medical and student debt without dealing with the system by which the situation was created and continues to create more of the same every day? This will boost the economy, of course-people will no longer have certain individual debt obligations; but where will those debts go is to the already astronomically high national debt. They are not “forgiven”, they are spread to all of us. This economy boost from those gifted is subsidized by debt. I’m so tired of every administration and party pointing to the economy as some measure of health when it’s funded by an ever-added national debt. And how fair is it for those who agree to borrow money to go to college then not pay what they agreed and others did not go to college and went without the benefits of higher education as a choice to avoid debt-or to those that worked their butts off (or possibly their parents did) or saved and delayed to fund college themselves. Yes, the graphics in this video are excellent; yes, credit card companies have seemingly bought politicians to make usury effectively legal; yes, our “medical system” bankrupts people with cost gouging and is in need of an overhaul or conversion to a national heath system-like almost every other industrialized country has; yes, our government is corrupted to the point where those with special interests get their way to the detriment of the typical working person, etc. And why this constant need to make issues racial when these are economic class issues? No one can deny that human societal evolution doesn’t exist, that racism or slavery wasn’t/isn’t evil, that women’s voting rights have only existed for a mere 100 years is absurd, etc. The “solution” this video suggests is sort of hope porn. We need hope in our lives for sure, but the overly-simplified (and I’d say incredibly irresponsible) solution proposed in this video does nothing to address the causes of the problems which is what truly needs to be addressed.
Hats off to you all for this! It is spot on in terms of calling out the economic problems that are dragging down our country and citizens. Why don't more people understand the important connection between affordable healthcare, education and housing and having a country that is equitable, advanced, and economically more stable?
@Lozen4President
I'm so sick of false promises and lies. Let's vote for a person with integrity and honesty, someone who will draw from the wisdom and needs of the common people instead of business as usual. If we continue to put the same rich old men in these positions to supposedly represent us, we can expect the same results.
"Anybody but Trump" gave the Democrats a free pass to elevate the same old neocon leadership. What will be the crisis/rationale next time I wonder.
Learning how not to go into debt is also a good trait.
Very true. Yet many are in debt because they used credit to honor unavoidable expenses like medical care. The responsibility paradigm is so easy for those who start the game with assets.
@@stonerubber I filed for bankruptcy in 2009. My credit score today is near 825. Have a plan. Ask family for help (not everyone has these options I know) start over. Especially if you are talking medical, which is a bankruptcy option.
We should be promoting how insurance companies are a profit scam more so than debt forgiveness.
@@bjnowak You did the right thing. I wish I had done that twenty years ago, but instead, I paid all my debts at usurious interest from my working class income. My credit score is 831 and my retirement savings is zero. My plan was the same one that got me into debt: always pay your bills. Car repairs, child care, whatever it is, once the cost of debt service siphons away 'disposable' income, many people are on a treadmill and can't establish savings. Millions of them. They are not irresponsible. They deserve more sympathy than they get from people who never faced the same problem. I think of jubilee as what you did, minus the red tape.
@@stonerubber well since printing money, the government needs to eliminate money. The best way to do that is debt relief. It’s part of the economic life cycle.
But it needs to happen in small chunks. All at once in this case will have some huge side effects.
@@bjnowak Yes, it's a question of phased policy probably. Meanwhile the huge side effects of the parasitic credit model are borne mostly by those at the bottom, an imbalance the rest of us seem willing to tolerate indefinitely.
Share Out
Jubilee..Bible truth 🙏
welcome to the one WholEarth Game Ask me how. I need your animator.
Just watched this on CUNY TV. Great video. It doesn't take a side in politics (because neither side is really for us.)
The information and the art work was great!
Neither side is for us. Were they ever really? The political player is almost always about the power or careerism or both. The bad ones are self serving, the good ones are usually mediocre. The ones who are in solidarity with workaday people often have very short careers. If they are not turned and absorbed into the cultures of the donor class, they are sidelined, marginalized, made inneffective or becoming the useful idiots of the donor class.
If the representative has major movemets if the people consistently behind them then the outcomes can be different. The movements need to be disruptive and scare the other people in power into doing the right thing. They should be forceful without being violent. They should be willing to color outside the lines laid down for them by the donor classes. Then do lots of coloring!
Sure, write those letters and sign those petitions, but don't expect them to work without people in the streets and real force of conviction behind it.
Just stop buying shit you don't need. It's not that difficult.
For real change, you have to abolish "interest" from the debts..
‼️
Your one man's debt is another man's asset is flawed ! You don't take into consideration if the loan is honest or dishonest ! For example, I have paid off my house and later I sold it and carried the Note That is an honest loan I worked for every dime ! Now a dishonest loan is when a bank or other institution Gets to create fiat dollars out of thin air and by doing so devalues the peoples purchasing power ! The bank didn't earn the asset they counterfeited it ! So every home car business ect. that had a out of thin air counterfeit loan should become the property of the person that has been paying the loan before the banks recklessly ran the monetary system into the ground !
If "your debt is someone else's asset", what happens to that someone else when there is a Jubilee? How to deal with that vacuum? The video is beautiful yet it doesn't explain the process fully. It looks like it's trying to hide the main issue with very nice illustrations. Once again a trick with the format to make everyone accept the content...
check out Professor Steve Keene on his proposal which can explain the process more clearly with an example. 100k for everyone to pay down their debts, money for people with no debt to buy stocks, and corporations would have to use the money from stock sales to pay off corporate debt. This would mean a more stable financial system as Fiat money replaced the credit money in the economy.
Haggai 1:6
“Ye have sown much, and bring in little; ye eat, but ye have not enough; ye drink, but ye are not filled with drink; ye clothe you, but there is none warm; and he that earneth wages earneth wages to put it into a bag with holes.”
Great video but why did you have to draw Trump as a caricature and Biden normally??
Doesn't look so exaggerated to me ! He IS himself a caricature
@fishoutawata She must be smart then
The great colonial scam. Company store
to say the least, this Jubilee thing is a great fantasy. Will never happen. But nice art minus the bullshit verbiage...
The writers don’t understand debt.....most us debt is owned by foreigners. Cancel debt......expect war
First, the "owners" of that debt are multinational and not tied to ANY nation - or any ethnic/racial group, religious doctrine, or any community for that matter. Furthermore, the "foreign" banks and investors you seem to be referring to don't control war powers - not directly anyway. Debt is and always has been class warfare. Race, in the U.S., was just a convenient tool of the emerging capitalist class there with Jefferson and the other "founding fathers." The only thing capitalists are loyal to is, well, accumulation of capital - not any sort of nationalism. Sounds like it's YOU who don't understand debt. The filmmakers understand it just fine.
@@zapatasghost look up who owns most us treasuries……then you’ll know how wrong your statement is
@@stevenodland Dude. One more time. Those owners, again, HAVE NO NATIONAL ALLEGIENCE. They're gangsters whose only allegiance is to capital accumulation.
@@zapatasghost the Japanese government and the Chinese government are gangsters? Wow, who knew? You did apparently, since you must have looked up that they are the largest us bond and treasury note holders in the world. Since they’re gangsters, as you state, probably not a good idea to default on those debts. They could get violent like most gangsters do when you don’t pay them what they’re owed. Violent retaliation by a government, hmmnn what’s that called……..oh right…..a war.
This is like the dumbest thing I've seen in awhile. The vast majority of debt is voluntarily took
So where is the line drawn on a jubilee? Just with student loans or all debt? The murderer of my daughter is court ordered to pay to her estate. But as criminal life goes, he only pays when he wants to. A little here and there while using his resources to stalk me. I don't think so. Not for this.
Broken promises by the Biden admin. He has the power to give hard working americans a somewhat reboot.
Debt is modern slavery.
This video is absolutely deplorable! Remember, Your Debt Is Someone Else’s Asset. In other words, to remove your bebt without paying it back is basically stealing. Are you OK with being a thief? Time to grow up and take accountability for your own actions... nothing in life is free!