No such thing as "canceling" debt. If we're being honest, we'd call it what it is: debt transfer. We'd be transferring debt from the people who took out the loans to people who did not take out the loans. Of course it sounds utterly unjust and crazy when you put it like that.https://twitter.com/NPR/status/1217682157646286849 …
Once you realize that the financial system is set up to grow debts faster than returns (because banks can lend more than they possess), mechanisms for canceling debt become a requirement.