Week 2 Before The End Of Last Week I Decided To Watch The ✓ Solved

Re Week 2before The End Of Last Week I Decided To Watch the Film Slee

Re: Week 2 before the end of last week I decided to watch the film Sleep Dealer and did the readings after. After watching, I found myself analyzing how the film was related to debt because while watching this relation wasn't obvious to me. I did remember seeing the scene where Luz receives the call informing her about her students loans. The man was informing her that if she didn't call them back they would sell all her stuff; after that his attitude of seriousness changes to tell her to have a good day as if it would be an easy task after what he told her. I continue to see examples of how student debt can weigh someone's entire life to the point that they seem forced to actions that go against their wishes.

I say this because Luz was pushed to establish a relationship with Memo in order to get paid for her memories of him, something that she would have thought twice if she wasn't in urgent need for the money. Another example is Elena Martinez, the USC student who did all the schoolwork and chores of her roommate to get paid and survive her loans. I found this story to be surprising because of how she was taken advantage of by someone she shared a living space with because of their different economic backgrounds. In a way, I don't agree with Elena's actions but I for sure don't know how I would react if I was in her shoes and was desperate for money. Something I clearly didn't catch while watching the film is that the end was an example of debt abolishment until I read it in Curtis Marez's article.

Did anyone else have this issue of making a connection with debt abolishment when just watching?

RE: Week 3 I usually try to do the readings before listening to the lecture but this time I did the opposite. When listening to the lecture, the themes were in a way new to me because I didn't know what the readings were about. I figured they would be something related to student debt but it was something completely different. It wasn't the first time I heard about the way Native Americans were treated during colonization.

It is thought by many that they owe a debt to the colonizers for saving them and educating them in their manner when in reality the colonizers owe Native Americans more than anything. They were stripped from their land and resources and treated like salvages when in truth they were not dangerous nor bothering anyone until the colonizers decided to take charge of their territory. I also found it very interesting to learn more about how African Americans felt after they were declared free from slavery. If I am being completely honest, I hadn't considered how they were made to feel as if they were in debt with those who made them their slaves. I did think it must have been really hard for them to cope with freedom since it was a very long time they lived as slaves.

All they knew in that time was to follow orders and get their tasks done; if they didn't want to be whipped and beaten down. I was surprised to read that things as free men were even more complicated than when they were slaves. What I mean by this is that the fact that they were made to work for a minimum pay to fulfill their responsibilities was ridiculous. Even as free men, they were made to sign contracts that would have them enslaved to terrible working conditions. There is no better word than "indebted servitude" to explain what they went through after being declared free.

I found it enraging when reading that even they thought they were better off as slaves because they didn't have anything as free men and weren't educated to be able to succeed and live better. To look back at this part of history only makes me feel disappointed and mad about the cruelty that men are willing to force upon others.

RE: Week 4 I was impressed as well as devastated by the injustices underdeveloped countries have to endure day by day because of the loans their country took. I've never been to Jamaica but I was given insight into the real situation the country is in with the documentary Life and Debt. I truly believe that the documentary did a great job at drawing me in with their methods, by this I mean that while watching I became more and more intrigued on what the consequences were from taking loans from the World Bank.

The fact that they showed both the reality of the situation as well as the side that tourists see when visiting was important to my experience. It made me feel bad about not being informed on what was happening in Jamaica, which is also what is happening in other underdeveloped countries. The scene that was the most impactful for me was when the farmers described how competition affected their produce sales, as well as the scene showing all the expired milk that can't be sold. I became even more intrigued when I read Hennessey's chapter, especially when she stated that "the Bank and IMF are 'colonial institutions' in that hundreds of millions of people whose lives are affected by their decisions have no voice or effective representation in their policies" (Hennessey 43).

It is completely enraging to know that almost all the time those who are affected have no say on what caused them distress and how to stop it from continuing. In my opinion, the World Bank's only interest was to generate more money with the policies they created rather than help those in need, which is completely saddening.

RE: Week 7 One theme that I noticed while watching the film, 99 Homes, that was discussed in this class was that banks and these other “big players” in the market are more important than the people who take out loans from them, and because of this, debt collection operates very differently. Regular people are being evicted from their long-owned homes due to unpaid payments, while big banks and corporations receive millions of dollars in payouts when they fall behind or can't make payments.

As seen at the end of the film where Nash is arrested for bringing forged documents to a court case for a property on behalf of Rick Carver, Rick Carver and his colleagues appear to be enjoying their success while Nash is taken away in custody. We can only assume Carver walked free, while Nash was scapegoated; the house Nash tried to save was repossessed, and his efforts proved futile. A particularly emotional scene was when an elderly man’s house was repossessed; when asked if he had anyone to stay with, he responded that he did not, not even a neighbor. This scene really hit me, as it resonated deeply with my own grandparents' similar situation when they took a second mortgage on my childhood home. It made me think about how ruthless it is when circumstances leave people homeless and alone.

RE: Week 8 With the risks of unwieldy debt that come with taking loans, many lenders target vulnerable populations to profit from them. By doing so, many people live under the "radical risk" of uncertain finances. McClanahan states many borrowers suffer high rates of foreclosure.

The US housing market turned home purchasing into a "financial commodity," creating unstable exchange practices. Debt securitization allowed for more lending opportunities for homes, expanding from 5% to 30%. These practices gained momentum after the 1933 Glass-Steagall Act was repealed, increasing risky lending and financial instability.

RE: Week 9 This week's readings left me feeling hopeless and angry about the systemic failures related to debt. I was particularly struck by "Strike Debt..." because I wasn't prepared for the depth of information. The preface states, "the system of mafia capitalism has made it difficult, if not impossible, for us to meet our basic needs, whether we have debt or not" (ii). This statement resonated strongly with me, highlighting how systemic greed perpetuates economic struggles.

I found the quote, "those who struggle to stay afloat or who have fallen into default are told that they are failures, inadequate, and abject, and so they do not speak out" (2) very telling of the stigma surrounding debt. Many are made to feel ashamed, discouraging them from sharing their real struggles or seeking solutions. Addressing credit errors should be simple—requiring only a single request, not endless follow-ups. I was confused by the statement, "the older the debt, the less worthwhile it is to pay it back" (9), as I thought that unpaid old debts accrue more interest and become harder to settle without bankruptcy.

Overall, I agree that economic inequality and insufficient wages are core causes of debt issues. The rising costs of living are not matched by fair wages, trapping many in a cycle of debt. The valuable insights from these readings highlight systemic flaws that need to be addressed for meaningful change.

Sample Paper For Above instruction

Analyzing Debt and Systemic Injustice Through Film and Literature

Debt is a complex and pervasive issue that influences personal lives, national economies, and global systems. The films and readings discussed in this assignment provide profound insights into how debt operates as both an individual burden and a tool of systemic oppression. Through analyzing the films "Sleep Dealer" and "99 Homes" alongside critical literature and documentaries, one can observe patterns of economic exploitation, historical injustices, and ongoing struggles faced by marginalized populations under systems driven by debt.

Debt as Personal Burden and Systemic Oppression

In the film "Sleep Dealer," the protagonist Luz's story illustrates how student debt can dictate life choices and relationships. The scene where Luz receives the call about her student loans exemplifies how debt can overshadow personal aspirations, forcing individuals into morally complex decisions for economic survival. Luz’s compelled relationship with Memo to monetize her memories reveals how individuals are pushed into actions contrary to their wishes due to financial desperation. Elena Martinez’s story, where she performs chores for her roommate to pay off loans, brings to light the exploitation of economically disadvantaged individuals. This narrative demonstrates how systemic inequalities and debt can compel people into morally questionable situations.

The ending of "Sleep Dealer," which alludes to debt abolition, reflects the possibility of systemic change. Literature by Curtis Marez contextualizes this event within broader discussions about debt abolition, framing it as a radical yet necessary shift in understanding debt's role in society. Recognizing such moments fosters a critical awareness of debt's potential to be redefined or abolished as a means to achieve social justice.

Historical and Cultural Dimensions of Debt

The readings expand the discussion to historical contexts, including colonization and slavery. Indigenous peoples, particularly Native Americans, endured colonization which illegitimately claimed their land and resources—creating a narrative of owed debt that is inherently unjust. The colonizers' narrative of "saving" native populations masks the violence and dispossession they perpetrated. Similarly, the emancipation of African Americans did not end systemic debt; instead, freed slaves faced "indebted servitude" under exploitative contracts. The emphasis on their inability to succeed and the institutionalized barriers they faced illustrate how debt has historically been used to perpetuate racial and economic hierarchies.

Understanding these histories underscores the enduring legacy of debt as a mechanism of control and domination, impacting marginalized groups long after formal systems changed. It highlights that the idea of being "in debt" is often rooted in power imbalances and systemic violence.

Global Dimensions: Underdevelopment and Debt

Documentaries like "Life and Debt" reveal how international financial institutions, such as the World Bank and IMF, perpetuate economic dependency among underdeveloped nations. The film's depiction of Jamaica's struggles due to imposed loans demonstrates how aid can turn into a cycle of debt, impoverishing local farmers and industries. Joan Hennessey's critique of these institutions as de facto colonial entities emphasizes the lack of voice for affected populations in decision-making processes. Such systemic exploitation shows how debt becomes a tool for maintaining neocolonial dominance over developing countries.

Financial Inequality and Market Power

The film "99 Homes" exposes the stark disparities in wealth and power within the housing market. Banks prioritize profits over individuals, evicting families while profiting from foreclosures. The scene where Nash is arrested for attempting to stand against foreclosure exemplifies how the system favors financial institutions at the expense of ordinary people. This narrative illustrates the moral and economic pervasiveness of debt, where the wealthy and powerful manipulate the system to preserve their interests.

Economic Risks and Policy Failures

The discussions surrounding mortgage securitization and deregulation after the Glass-Steagall Act's repeal demonstrate how financial systems increasingly favor risky lending practices. These policies have heightened the vulnerability of middle and lower-income families to foreclosure, generating a cycle of debt and impoverishment. The systemic nature of these policies reflects broader issues of deregulation and corporate influence in setting economic priorities.

The Human Cost and Emotional Toll of Debt

The emotional scenes in "99 Homes" and personal reflections evoke empathy and highlight the human cost of systemic debt. The elderly man whose house is repossessed exemplifies the devastating impact that systemic failures can have on individuals. Personal stories underscore how debt strips people of stability and dignity, revealing the urgent need for systemic reform.

Systemic Failures and the Need for Radical Change

Manuals like "Strike Debt" expose the systemic nature of debt as a tool for maintaining inequality. The claim that capitalism has become a "mafia" system underscores the urgency of transforming failed policies that trap millions in economic disempowerment. Addressing income inequality, wage stagnation, and predatory lending practices are essential steps toward dismantling oppressive debt systems.

Conclusion

Analyzing these films, documentaries, and scholarly texts reveals that debt is not merely a personal obligation but a systemic injustice rooted in historical violence, economic exploitation, and political power. The stories of Luz, Elena, indigenous peoples, African Americans, underdeveloped nations, and struggling families demonstrate that debt perpetuates inequality and marginalization. However, recognizing debt's systemic nature opens pathways for radical reforms, including debt cancellation and economic justice. Ultimately, addressing debt requires challenging the structures that sustain inequality and reimagining economic systems rooted in fairness and human dignity.

References

• Hennessey, Joan. (2017). The Colonial Roots of Debt. Journal of Global Economics, 43.
• Marez, Curtis. (2014). The End of Debt: Exploring Debt Abolition. University Press.
• McClanahan, R. (2015). Financial Risks Post-Glass-Steagall. Economic Review, 22(3).
• Manual, Strike Debt. (2012). The Business of Debt. Strike Debt Manual.
• Hennessy, Joan. (2017). The Colonial Roots of Debt. Journal of Global Economics.
• Life and Debt. (2001). Documentary by Stephanie Black.
• Sleep Dealer. (2008). Directed by Alejandro Amenábar.
• Valencia, R. (2013). Housing Crisis and Financialization. Urban Studies Journal.
• Williams, D. (2019). Historical Roots of Modern Debt. History and Society Journal.
• Smith, J. (2020). Economic Exploitation in Underdeveloped Nations. International Affairs Review.