Join us on September 30th at the Torch of Friendship as we commemorate the 1 Year Anniversary of Occupy Miami!
The theme to this rally is one that unites us all: Debt. We intend to spark a fresh dialogue on the issue of debt and widespread debt scams, discuss how our labor props up a system based on illusory rewards, and raise awareness of those who are deliberately taking a stand to resist the fraudulent debt cycle that allows banks and credit card companies to get rich off our debts and the debts of our communities. We believe we can be free if we invest in one another, rather than in a system that seeks only to take from us.
27% of student loans are in default and that figure is steadily climbing. The student debt bubble has now surpassed the ONE TRILLION DOLLAR mark. All the while, tuition rates across the nation are rising, while government spending for education plummets. With every moment that this issue remains unaddressed, in the face of the worst economic stagnation in U.S. history, can we the citizens and our country itself truly survive the deconstruction of our educational system from a right to an ever increasing privilege?
$1.2 trillion of mortgage debt is underwater (debt exceeds value of property) or about one-third of all properties. 5 million homes have been foreclosed and 5 million more are under threat of foreclosure, meaning that owners are in default or behind on payments. 300,000 people had a foreclosure notification added to their credit report in the first quarter of this year. 27% of mortgages are seriously delinquent–ironically, a slight improvement. 300,000 more people went bankrupt.
The average credit card debt per household has fallen from $17,936 in 2009 to $14,336 now because of mass default. In 2010, credit card companies had to write off fully 10% of all debt.
Quebec and Iceland have not tolerated the inevitability of austerity measures, or the reckless fraudulent spending and corruption brought on behalf of financial institutions which finance the campaigns of all those who rise to power through the misrepresentation of those who elect them. They have instead marched to block tuition increases and faulty, immoral financial practices. The official response to the debt crisis in Iceland was to jail the bankers and regain control of their government and they did! They have won victories, the greatest proof is seen in our mass media’s refusal to air such news.
Why have we in the U.S., victims of the greatest financial fraud, been left to foot the bill long after they’ve gotten bailed out? Let us also not forget about the treacherous international LIBOR scandal that has so quickly been swept under the rug. In which the global banking institutions benefited by banding together to monopolize and manipulate the global interest rate on what experts have estimated could affect $800 trillion dollars of loans and securities. Let’s help Miami lead the way in pushing for financial justice! It’s time to turn our backs on this system of debt and create something new in its place.
What issues remain unaddressed in this election cycle? What has changed for you, what are you doing to improve your lives and communities? We need each of you to come out and give your feedback, support and participate!
Join us on September 30th to get your voice heard!