Economy debt jubilee

Published on November 15th, 2012 | by Rhonda Winter

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Occupy Inspires Growing Rolling Jubilee Debt Abolishment Movement

 

Imagine if you woke up one morning and all of your mounting college loans were gone — just like that. Imagine if a group of strangers donated money together to pay off debt collectors and abolish what your mother owed in medical bills. Imagine the tremendous economic stimulus that would be created from alleviating billions in oppressive debt from millions of struggling families. You do not have to just imagine how that would look, because it is already happening.

rolling jubilee

Bailing Out Main Street

 

One of the most inspiring recent developments to arise from Occupy Wall Street is a rapidly expanding movement to bail out regular folks through debt abolishment. This is not debt resistance, student loan forgiveness or civil disobedience, but just ordinary people buying and erasing what others owe.

debt graphic

The economic activist group, known as Rolling Jubilee, has begun raising money to erase millions in debt for our fellow citizens. This is how they describe their bailout of the people by the people:

“Rolling Jubilee is a Strike Debt project that buys debt for pennies on the dollar, but instead of collecting it, abolishes it. Together we can liberate debtors at random through a campaign of mutual support, good will, and collective refusal. Debt resistance is just the beginning. Join us as we imagine and create a new world based on the common good, not Wall Street profits.”

 

Mutual Aid: You Are Not A Loan

 

For more information about the important work that Rolling Jubilee is accomplishing, or to make a donation to this growing movement to cancel outstanding debt, please visit their website or follow their Twitter feed.

images via Rolling Jubilee and Democracy Now

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About the Author

was raised by wolves, and subsequently has difficulty interacting with other humans; she can also be found on and Twitter.



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