StrikeDebt and The Rolling Jubilee
StrikeDebt came out of an assembly that several Occupy-related groups formed in May to discuss debt, an issue which affects millions of Americans who go into debt in order to afford education, housing and medical care. Nearly 50 percent of U.S. households are in debt, averaging a whopping $15,328 per indebted household. The first StrikeDebt initiative was the publication of the Debt Resistor’s Operations Manual. They also have a Tumblr — Why Strike Debt — where people share their stories. (You can also tweet them using #strikedebt.) This week marks the beginning of the group’s second direct action: The “Rolling Jubilee” and “People’s Bailout.” Through online donations, the group is raising funds they will use to purchase people’s debt on the debt market (where it can be had for pennies on the dollar), and then forgive it. To date they have collected nearly $200,000, which is enough to cancel $3.5 million in debt.