I see you cite to Michael Hudson. He fleshed out his work on ancient debt in "Forgive Them Their Debts: Lending, Foreclosure, and Redemption from Bronze Age Finance to the Jubilee Year" (2018) for you or anyone who is interested.
The theme is that beyond mathematical demonstrations of how compound interest always results in debt crisis, you need wise leaders in charge to control banking. So to your question about anyone canceling student debt any time soon, the answer is no.
There is an entire library that can be written on the Obama Administration's handling of the GM bankruptcy. It turned two centuries of bankruptcy practice on its head. Bankruptcy is supposed to protect creditors first, which is essential to the business of loaning money. Interrupt that, and commerce grinds to a halt.
I see you cite to Michael Hudson. He fleshed out his work on ancient debt in "Forgive Them Their Debts: Lending, Foreclosure, and Redemption from Bronze Age Finance to the Jubilee Year" (2018) for you or anyone who is interested.
The theme is that beyond mathematical demonstrations of how compound interest always results in debt crisis, you need wise leaders in charge to control banking. So to your question about anyone canceling student debt any time soon, the answer is no.
There is an entire library that can be written on the Obama Administration's handling of the GM bankruptcy. It turned two centuries of bankruptcy practice on its head. Bankruptcy is supposed to protect creditors first, which is essential to the business of loaning money. Interrupt that, and commerce grinds to a halt.