Here are some misconceptions about who has debt and why we need full cancellation.
As a young immigrant, I took out thousands of dollars in debt to go to for-profit college—thinking it was part of the American Dream.
Like millions of Americans, I was left deeply in debt with a worthless degree and shoddy education. #CancelStudentDebt
Here are some misconceptions about who has debt and why we need full cancellation.
Yes! Student debt has more than doubled in just 10 years. 45 million Americans now are saddled with over $1.7 trillion in debt—and the delinquency rates have nearly doubled. https://t.co/kTgVCrCaTT
Student loan interest is on hold during the pandemic—but the debt is not forgiven. That means millions will owe thousands of dollars in backpay if that debt isn’t relieved. https://t.co/1WUyjLdc8P
Yes! The federal government owns 92% of the $1.7 trillion in student debt. Biden can forgive it with the stroke of a pen.
No! 40% of people with student loan debt don’t even have a college degree. These have been some of the hardest-hit families during the pandemic and are *3 times* more likely to default. https://t.co/wJROZZM6Wa
"40% of people with student loan debt don't have a diploma. These people are earning what a high school grad can earn, but are struggling with student loan debt. We cancel $50K in debt & 85% of those struggling\u201440mm people\u2014will have their debt completely eliminated" \u2014@SenWarren pic.twitter.com/kk7ZDo8NhN
— Alexis Goldstein (@alexisgoldstein) February 5, 2021
No. The average public university student borrows *$30,030* to get a bachelor’s degree. Only 17% of for-profit college attendees graduate without debt. https://t.co/3ZIFMTU4dZ
The opposite. Black graduates average $25,000 more in student loan debt than white college graduates. In fact, the majority of black borrowers owe more in debt than their entire net worth. https://t.co/gjYNilIqbi
No. Parents are increasingly saddled with debt too. The amount of debt taken out by parents has tripled in the past 25 years. https://t.co/PMhHRoaflZ
More from Finance
Having made over 1000 boxes for vulnerable families in Cambridge via @RedHenCambridge (thanks to our customers 🙏🏽) My thoughts on the £30 box thing. Lots of factors at play here. 1/
If the pics in this @BootstrapCook thread are true and correct then the Govt/taxpayers & families in need are getting absolutely SHAFTED 👇🏽 2/
There are some mitigating circumstances. A £30 box won’t ever contain £30 (retail) worth of food - people aren’t factoring in
-the cost of the box
-paying someone to fill it
-rent & rates
-& most expensive the *transport/distribution*
3/
If you’re doing the above at scale. Delivering *across the UK* it’s not cheap BUT IMHO there should be at LEAST £20 worth of groceries in a £30 box. To get more value they need more fresh produce. Just carrots & apples is terrible. 4/
I’m gonna put my rep on the line here & say something about these big national catering companies whose names I’ve seen mentioned. They are an ASSHOLE to deal with & completely shaft small businesses like mine with their terms which is why I won’t deal with them. 5/
If the pics in this @BootstrapCook thread are true and correct then the Govt/taxpayers & families in need are getting absolutely SHAFTED 👇🏽 2/
Hi all. I\u2019ve been sent LOTS of photos of the food parcels that have replaced the \xa330 vouchers and asked what I would do with them. I\u2019m replying with advice privately because to do so publicly would look like justifying these ill thought through, offensively meagre scraps /1.
— Jack Monroe (@BootstrapCook) January 11, 2021
There are some mitigating circumstances. A £30 box won’t ever contain £30 (retail) worth of food - people aren’t factoring in
-the cost of the box
-paying someone to fill it
-rent & rates
-& most expensive the *transport/distribution*
3/
If you’re doing the above at scale. Delivering *across the UK* it’s not cheap BUT IMHO there should be at LEAST £20 worth of groceries in a £30 box. To get more value they need more fresh produce. Just carrots & apples is terrible. 4/
I’m gonna put my rep on the line here & say something about these big national catering companies whose names I’ve seen mentioned. They are an ASSHOLE to deal with & completely shaft small businesses like mine with their terms which is why I won’t deal with them. 5/
Ok here is the explanation. Grab a cup of coffee and read on. If you have not read/noticed this, you will see intraday options movement in a new light.
Say we have two options, one 50 delta ATM options and another 30 delta OTM option. Normally for a 100 point move, the ATM option will move 50 points and the OTM option will move 30 points. But in a high volatile environment, the OTM option will also move nearly 50 points
To understand why this happens, first understand why an ATM option is 50 delta. An ATM option has the probability of 50% of expiring as ITM. The price just has to close a rupee above the strike for the CE to be ITM and vice versa for PEs
Now think of a highly volatile day like today. If someone is asked where the BNF will close for the day or expiry, no one can answer. BNF can close freakin anywhere, That makes every option of an equal probability of being ITM. So all options have a 50% probability of being ITM
Hence, when a huge volatile move starts, all OTM options behave like ATM options. This phenomenon was first observed in the Black Monday crash of 1987 at Wall Street, which also gave rise to the volatility skew/smirk
In a high IV environment or when the market is very volatile
— Subhadip Nandy (@SubhadipNandy16) January 21, 2022
" OTM options will behave like ATM options", one will get almost the same delta movement
Say we have two options, one 50 delta ATM options and another 30 delta OTM option. Normally for a 100 point move, the ATM option will move 50 points and the OTM option will move 30 points. But in a high volatile environment, the OTM option will also move nearly 50 points
To understand why this happens, first understand why an ATM option is 50 delta. An ATM option has the probability of 50% of expiring as ITM. The price just has to close a rupee above the strike for the CE to be ITM and vice versa for PEs
Now think of a highly volatile day like today. If someone is asked where the BNF will close for the day or expiry, no one can answer. BNF can close freakin anywhere, That makes every option of an equal probability of being ITM. So all options have a 50% probability of being ITM
Hence, when a huge volatile move starts, all OTM options behave like ATM options. This phenomenon was first observed in the Black Monday crash of 1987 at Wall Street, which also gave rise to the volatility skew/smirk
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#sculpture #story -
Chandesha-Anugraha Murti - One of the Sculpture in Brihadeshwara Temple at Gangaikonda Cholapuram - built by Raja Rajendra Chola I
This Sculpture depicts Bhagwan Shiva along with Devi Paravathi blessing Chandeshwara - one of the 63 Nayanmars.
#Thread
Chandeshwara/Chandikeshwara is regarded as custodian of Shiva Temple's wealth&most of Shiva temples in South India has separate sannathi for him.
His bhakti for Bhagwan Shiva elevated him as one of foremost among Nayanmars.
He gave importance to Shiva Pooja&protection of cows.
There are series of paintings, illustrating the #story of Chandikeshwar in the premises of
Sri Sathiyagireeswarar #Temple at Seinganur,near Kumbakonam,TN
Chandikeshwara's birth name
is Vichara sarman.He was born in the village of Senganur on the banks of River Manni.
His Parent names were Yajnathatan and Pavithrai.
Vichara Sarman was a gifted child and he learnt Vedas and Agamas at a very young age.
He was very devout and would always think about Bhagwan Shiva.
One day he saw a cowherd man brutally assaulting a cow,Vichara Sarman could not tolerate this. He spoke to cowherd: ‘Do you not know that the cow is worshipful & divine? All gods & Devas reside in https://t.co/ElLcI5ppsK it is our duty to protect cows &we should not to harm them.
Chandesha-Anugraha Murti - One of the Sculpture in Brihadeshwara Temple at Gangaikonda Cholapuram - built by Raja Rajendra Chola I
This Sculpture depicts Bhagwan Shiva along with Devi Paravathi blessing Chandeshwara - one of the 63 Nayanmars.
#Thread
Chandeshwara/Chandikeshwara is regarded as custodian of Shiva Temple's wealth&most of Shiva temples in South India has separate sannathi for him.
His bhakti for Bhagwan Shiva elevated him as one of foremost among Nayanmars.
He gave importance to Shiva Pooja&protection of cows.
There are series of paintings, illustrating the #story of Chandikeshwar in the premises of
Sri Sathiyagireeswarar #Temple at Seinganur,near Kumbakonam,TN
Chandikeshwara's birth name
is Vichara sarman.He was born in the village of Senganur on the banks of River Manni.
His Parent names were Yajnathatan and Pavithrai.
Vichara Sarman was a gifted child and he learnt Vedas and Agamas at a very young age.
He was very devout and would always think about Bhagwan Shiva.
One day he saw a cowherd man brutally assaulting a cow,Vichara Sarman could not tolerate this. He spoke to cowherd: ‘Do you not know that the cow is worshipful & divine? All gods & Devas reside in https://t.co/ElLcI5ppsK it is our duty to protect cows &we should not to harm them.
