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Individual Americans are in a hell of a lot of debt.

STRIKE DEBT, an Occupy Wall Street group, plans to move indoors on November 15th in NYC for a Jerry Lewis-style telethon. The Rolling Jubilee is a fundraiser featuring Janeane Garofalo, Lizz Winstead, members of Sonic Youth, Fugazi, and, according to the New York Times, “radical nuns, an all-female mariachi band, and a speed lecturer.”

They’re raising money to buy distressed medical, student, and consumer debt at low prices. Instead of collecting on those debts, they’ll abolish them.

So far they’ve raised over $175k, which will be able to eliminate $3.5 million worth of debt. They know this is a drop in the bucket for the estimated $11 trillion owed by Americans, but they’re hoping this will start a conversation around the idea of transforming the economy.

Do you think the Rolling Jubilee is a good idea? Share your thoughts in the comments.

Occupy Wall Street


 

About The Author

Josh Heller

Josh is a writer from Los Angeles. He has lived in Mexico City, New York, and Berlin with extensive jaunts to Latin America and Europe.

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