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The number of college graduates with debt is rising quickly, and some students have had enough. A group known as the Corinthian 15 say they’re going on a “debt strike,” hoping to force action to cancel the debts they owe to a for-profit education company — and spur broader change.
Argentina has South America’s third-largest economy, but many of its financial decisions are now subject to the review of a New York court. That’s because Argentina turned to American firms to borrow money, and the US legal system now gets to decide how its debts will be handled.
Argentina defaulted for the second time in 13 years after last-ditch talks with US hedge funds collapsed. Many Argentines worry that unless a deal is reached, another default could crash the peso and lead to inflation and unemployment.Argentina defaulted for the second time in 13 years after last-ditch talks with US hedge funds collapsed. Many Argentines worry that unless a deal is reached, another default could crash the peso and lead to inflation and unemployment.
All across the country, smaller budgets — county, municipal and state — struggle to pay for underfunded civic services. Is it possible that the services we’ve come to depend on since the New Deal are, in fact, acting as an ‘architecture of debt?’
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