Post: #51

(04-12-2017 11:46 AM)The Beast1 Wrote:  Student loans were designed to rob my generation of its government handouts.

I had to pay my student loans in full plus interest. You're somehow getting a raw deal that your generation is expected to pay off yours? We are robbing you of your free welfare handouts? How about pay your own way in the world.

Post: #52

(04-12-2017 12:07 PM)[email protected] Wrote:  Peter Schiff mentioned that you will see more Americans simply leave their loans behind by going overseas and it was America that would end up losing.

I'm not so sure. New Zealand actually arrests loan defaulter at airports it seems.

http://m.nzherald.co.nz/nz/news/article....d=11649649
http://m.nzherald.co.nz/business/news/ar...d=11649957


I'm pretty sure America is not above doing this

I personally loved his advice to not go to university, get a job doing something useful, and then just lie on your resume. The others who all get degrees have made it all commonplace and non-differentiating to get any ho hum degree, and the odds anyone calls you on it are essentially nil. Just put it on your resume. The only guys getting busted are like college football coaches, and that's only once in a while for embellishment type shit.

Post: #53

(04-12-2017 12:19 PM)BrewDog Wrote:  

(04-12-2017 11:46 AM)The Beast1 Wrote:  Student loans were designed to rob my generation of its government handouts.

I had to pay my student loans in full plus interest. You're somehow getting a raw deal that your generation is expected to pay off yours? We are robbing you of your free welfare handouts? How about pay your own way in the world.

How much did you pay to go to college back in the 70s or even the 80s?

You have kids taking the advice of boomers and gen xers about how "awesome" college is and how it'll expand their viewpoints and get them a high paying job. These same adults then encourage their kids to study bullshit and then proceed to take on 30k+ loans.

Don't sit there and tell me you knew more when you were 18. You guys got lucky because college was cheap and the wealth of the great generation post ww2 economy was still hot.
You were just as young, dumb, and full of cum as a typical millenial 18 year old.

Thankfully, my loans are all paid off and I made some better last minute choices to push myself up and out unlike my other peers.

Doesn't make feminine snark from the likes of folks like yourself any less useful.

Don't forget, millenials are growing up and will eventually be running this show. Some of the dastardly things I hear young people say about social security, pensions, home ownership, and the like should be terrifying for future retirees and people in your generation that don't have children to fall back on.

Post: #54

(04-12-2017 12:43 PM)The Beast1 Wrote:  

(04-12-2017 12:19 PM)BrewDog Wrote:  [quote='The Beast1' pid='1548553' dateline='1492015591']
Student loans were designed to rob my generation of its government handouts.

I had to pay my student loans in full plus interest. You're somehow getting a raw deal that your generation is expected to pay off yours? We are robbing you of your free welfare handouts? How about pay your own way in the world.

(04-12-2017 12:43 PM)The Beast1 Wrote:  How much did you pay to go to college back in the 70s or even the 80s?

Not sure how old you think I am, but you're off base.

(04-12-2017 12:43 PM)The Beast1 Wrote:  Doesn't make feminine snark from the likes of folks like yourself any less useful.

Oh yeah, man. I'm super feminine. You nailed it.

(04-12-2017 12:43 PM)The Beast1 Wrote:  Don't forget, millenials are growing up and will eventually be running this show.

And that will be a travesty. I'm glad I'll be gone before I see that goat-rope. All of you will still be trying to live at the expense of someone else. Except all of us that pay for your welfare handouts will be gone. What happens then? I won't care; I'll be dead. And you guys will have to figure out who to steal from then.

Post: #55

(04-12-2017 12:57 PM)BrewDog Wrote:  

(04-12-2017 12:43 PM)The Beast1 Wrote:  

(04-12-2017 12:19 PM)BrewDog Wrote:  [quote='The Beast1' pid='1548553' dateline='1492015591']
Student loans were designed to rob my generation of its government handouts.

I had to pay my student loans in full plus interest. You're somehow getting a raw deal that your generation is expected to pay off yours? We are robbing you of your free welfare handouts? How about pay your own way in the world.

(04-12-2017 12:43 PM)The Beast1 Wrote:  How much did you pay to go to college back in the 70s or even the 80s?

Not sure how old you think I am, but you're off base.

You're certainly old enough to remember how cheap college used to be. Not to mention that you'll be dying off soon.

(04-12-2017 12:19 PM)BrewDog Wrote:  

(04-12-2017 12:43 PM)The Beast1 Wrote:  Doesn't make feminine snark from the likes of folks like yourself any less useful.

Oh yeah, man. I'm super feminine. You nailed it.

Either make a point or get back to the retirement home gramps.

(04-12-2017 12:19 PM)BrewDog Wrote:  

(04-12-2017 12:43 PM)The Beast1 Wrote:  Don't forget, millenials are growing up and will eventually be running this show.

And that will be a travesty. I'm glad I'll be gone before I see that goat-rope. All of you will still be trying to live at the expense of someone else. Expect all of us that pay for your welfare handouts will be gone. What happens then? I won't care; I'll be dead. And you guys will have to figure out who to steal from then.

Hopefully by the time you've gone belly up, we can write about the history of the degenerate generation before us that destroyed the great nation that was once America. Trust me, we'll be the ones having the last laugh.

But it sounds like you don't even have a point to make, other than how you walked up the hill in the snow both ways to pay off your $10k student loan to Big Whatever U.

Either make your point or

Post: #56

(04-12-2017 11:32 AM)weambulance Wrote:  And the whole reason I'm here--not to say I didn't do these things willingly--is because I listened to the advice of successful people who failed to see how the world was changing, even when I saw bad signs, and then got absolutely fucked because of it.

That's one of the really maddening things of trying to talk to people in my parents' generation. It's like they're wholly incapable of recognizing that the paradigm they lived under--and which only existed for about 1.5 generations--is gone and not coming back. But they keep handing out shitty advice to young people as if it was 1980 or even 1995 again.

I feel you on this, but don't turn it into another Millennials vs. Boomers thread.

I went to college in the eighties, and they were already starting to raise colleges costs then, by a third or more each semester. I was young, dumb, didn't know what I wanted to do, and count myself lucky that I got out of it with one student loan, and worked weekends all throughout college.

Still, it was pretty obvious to me that later generations had it much tougher. I was lucky that my uninformed decisions didn't put me deeply in debt. It is obvious, and completely unfair that everyone today is pressured to go to an overpriced college, often getting an impractical major, and ending up working at Starbucks owing $100,000. You should be able to thrash around and figure things out in your twenties without having that hanging over you, and it is a damned shame.

Maybe you got some bad advice by older people, but to say older people are wholly incapable of recognizing rising college costs is a bit extreme.

I was already telling people I knew in grad school in the early nineties not to go into ridiculous debt for a degree that didn't have a strong job market waiting for it when they got out. I say the same thing to young folks today.

I was talking with a kid the other day who worked maintenance for an apartment company and felt shitty when he saw all the college kids in town looking like they were having the time of their lives.

I said, look, you are getting great life skills, you are making money and not going into debt. You still live in a college town and can party with college kids, you are in a great position, so don't feel bad.

It isn't that complicated, and any half way intelligent oldster can see it for what it is, a racket. I think it is basically criminal that a twenty three year old graduates deeply in debt. Unfair to the individual, and not good for society either, because you end up with a lot of unhappy people working in jobs they hate just to pay it down.

You were given bad counsel, and that sucks, and I wouldn't be surprised if in the future there will be a mass movement of people refusing to pay their loans. It is a con game, and no way to run a society.

Post: #57

(04-12-2017 01:10 PM)The Beast1 Wrote:  Hopefully by the time you've gone belly up, we can write about the history of the degenerate generation before us that destroyed the great nation that was once America. Trust me, we'll be the ones having the last laugh.

But it sounds like you don't even have a point to make, other than how you walked up the hill in the snow both ways to pay off your $10k student loan to Big Whatever U.

Either make your point or

I didn't come into a public forum to cry about my student loans. I worked hard and paid mine off. No one made you go to college. That was your own decision, you took out loans, and now you evidently want for me to pay for your college debt. That is your own responsibility. No one else.

If millennials wonder why no one takes them seriously, it's because they don't spend a day without whining about what a bad break they've gotten. As if no other generation before them had any adversity. The difference is, we didn't cry as much. The generations before you got just as much shitty bad times as you, but we found a way to make our own way in spite of that.

Post: #58

Higher Ed is going through a quiet deflation due to demographics. There's simply not enough people to fill the excess capacity created during the millennial EDU boom.

A lot of very sad leftists that worked as adjuncts for most of their career can't even find a job in the schools they so aspired to serve.

The good news is that there's room to rebalance higher Ed. Unproductive majors and unnecessary campuses are being wound down and consumers are making more practical decisions about education and job training.

What is bothersome is to see leftists tackle Homelessness with a higher ed solution. There are apparently many homeless students, and with excess physical capacity on college campuses, the Admins are angling for federal money to support homeless students on campus. Like all leftist solutions, it sounds great, but poorly thought out. Colleges are not in the business of solving homelessness. Even if they help people, how are they training them to move on out? Are they actually teaching students how to physically build homes? No! They just want to virtue signal to collect Fed money, and if denied, critique the Dept of Ed Administration from not "doing what's right".

Baloney. Colleges are now suffering from "Mission Creep" after promising so much to so many. They over-reached.

More good news. If the federal student loan program were wound down, we could see even more improvements from the colleges as they trim the fat and regroup on their core mission of education. But just giving out Fed loans to everyone for everything EDU is a wasteful process due for correction.

Post: #59

(04-12-2017 01:30 PM)BrewDog Wrote:  I didn't come into a public forum to cry about my student loans. I worked hard and paid mine off. No one made you go to college. That was your own decision, you took out loans, and now you evidently want for me to pay for your college debt. That is your own responsibility. No one else.

If millennials wonder why no one takes them seriously, it's because they don't spend a day without whining about what a bad break they've gotten. As if no other generation before them had any adversity. The difference is, we didn't cry as much. The generations before you got just as much shitty bad times as you, but we found a way to make our own way in spite of that.

Where in my post was I whining about my loans? In case your reading comprehension is lacking from those aging eyes, I clearly stated: my loans were all paid off and that the government is using the whole loan racket to avoid having to pay out more social security entitlements.

Maybe slow down when you read next time so you don't make ASSumptions that are incorrect.


You know what, I take it all back. You guys had it so hard! sarcasm

Post: #60

(04-12-2017 01:50 PM)The Beast1 Wrote:  You guys had it so hard. Gosh, it must have been so difficult to pay off those loans back in the day!

I just used an inflation calculator to see how much $45,000 would be in today's dollars, and it's $73,968.52. And that's what I owed on top of me having a tuition scholarship and not counting loan interest.

I paid mine. What will you do about yours? Will you demand that I pay for yours, too?

Post: #61

(04-12-2017 02:01 PM)BrewDog Wrote:  

(04-12-2017 01:50 PM)The Beast1 Wrote:  You guys had it so hard. Gosh, it must have been so difficult to pay off those loans back in the day!

I just used an inflation calculator to see how much $45,000 would be in today's dollars, and it's $73,968.52. And that's what I owed on top of me having a tuition scholarship and not counting loan interest.

I paid mine. What will you do about yours? Will you demand that I pay for yours, too?

Are you dimwitted or something? Has living in a Spanish speaking country ruined your ability to understand simple English?
I seriously don't know how much more I have to say this. Let me try and spell it out for you in extra large text.

My loans were all paid off years ago.

Maybe you should go take some remedial English classes so you can understand what it is I'm trying to say. Hopefully you won't need a student loan to pay for them!

Post: #62

(04-12-2017 02:06 PM)The Beast1 Wrote:  

(04-12-2017 02:01 PM)BrewDog Wrote:  

(04-12-2017 01:50 PM)The Beast1 Wrote:  You guys had it so hard. Gosh, it must have been so difficult to pay off those loans back in the day!

I just used an inflation calculator to see how much $45,000 would be in today's dollars, and it's $73,968.52. And that's what I owed on top of me having a tuition scholarship and not counting loan interest.

I paid mine. What will you do about yours? Will you demand that I pay for yours, too?

Are you dimwitted or something? Has living in a Spanish speaking country ruined your ability to understand simple English?
I seriously don't know how much more I have to say this. Let me try and spell it out for you in extra large text.

My loans were all paid off years ago.

Post: #63

BrewDog. What are you doing?

Post: #64

(04-12-2017 02:28 PM)debeguiled Wrote:  BrewDog. What are you doing?

What man? Don't we all hate SJW's here? Why am I not in line on this? Send me a PM if you want.

Post: #65

If my parents hadn't paid my way, there was no way I was going to University or College. I frankly don't believe that its necessary unless you absolutely need it for your career path (doctor, dentist, teacher, etc.) Many companies have to retrain their fresh grads anyway. It's archaic.

Post: #66

I wonder if the end goal of this is to make school debt so large that people will accept universal "free college". The same thing seems to be happening with health care. Drive up the costs to such an extent that people will beg the government for a solution.

Post: #67

How do SJWs have anything to do with the topic being discussed?

Post: #68

(04-12-2017 02:57 PM)Repo Wrote:  How do SJWs have anything to do with the topic being discussed?

Quote:Student loans were designed to rob my generation of its government handouts.

Handouts.

Government handouts.

The millennials are getting screwed out of their free handouts.

They want "free" stuff.

Meaning they want me to pay for them to freeload.

SJW, communism... whatever you wanna call it.

Post: #69

You are taking the second quote out of context, if you read the whole quote it was about social security which is something that you actually pay into.

So your argument is that social security = communism = SJW? Each of these words actually has meanings.

Post: #70

(04-12-2017 03:10 PM)Repo Wrote:  You are taking the second quote out of context, if you read the whole quote it was about social security which is something that you actually pay into.

So your argument is that social security = communism = SJW? Each of these words actually has meanings.

Communism: a system in which goods are owned in common and are available to all as needed

Post: #71

One of you sent me a PM and it won't let me respond to you because it says you have PM's disabled. You know who you are.

Post: #72

Thanks for documenting why I was right?

Post: #73

(04-12-2017 03:36 PM)Repo Wrote:  Thanks for documenting why I was right?

Quote:social security = communism = SJW

Yep, you hit the nail on the head with that one.

Post: #74

Yall need to chill out.

Post: #75

I think it's unlikely it'll be student loan defaults themselves that set off the hyperinflation bomb in the US. The reason for that is because not all the loans will default at once. The subprime mortgage bomb blew up because a large number of loans had been issued which all hit their balloon date in about the same month or the same quarter. It was that impending date that allowed the guys in The Big Short to accurately predict when the implosion would happen -- because they knew that an unsustainably large number of the loans would go into default at the same time; they knew the capacity of the dam that was going to be hit and they knew the storm on its way would definitely go over the dam's carrying capacity.

Student loans are a bit different because it's a constant stream of them happening each year. There isn't a one date in the near distance where the interest rate on them all suddenly ramps up and makes it impossible to pay off. The analogy in this case is that the rainfall is steady and increasing each year, but the government continues to add shitty brickwork to the dam as the rainfall increases, making it hard to default in one cataclysmic event on its own. It's classic boiling-frog syndrome.

The other aspect in it, which both causes the problem and makes it a part of the larger US debt problem, is the federal guarantee on the loans. If you thought Obama bailing out the banks was unethical, well, this is essentially a continuing, decades-long bailout just as bad as Fannie Mae and Freddie Mac, and it exists for much the same ideological reasons: so every flathead with shitty parents, every flathead with good but risk-averse parents, and every kid without a sense of his or her own identity (which is to say, most if not all of them) all get to have a college degree.

The federal guarantee creates a moral hazard just as Fannie Mae and Freddie Mac's bullshit created the subprime crisis: it encourages schools to ramp up their fees because ultimately the government will be paying for it if the kid does not or cannot.

The student loan crisis is really just a future part of the US national debt crisis. You can't really short student loans because shorting depends on the loans never being paid back, which is what the federal guarantee is there to prevent.

What will end the party on student loans is when some very large holder of US bonds saying "Fuck this, I'm not buying bonds at the interest rate you're offering because there's no way in the world I'm going to get paid back that amount in real terms. You've got so much valueless currency sloshing around your system you'll be paying me back in toilet paper, not money." I don't see that happening terribly soon mainly because everyone still trusts the US dollar more than they do the renmibi or any other form of currency on the planet. But it will happen, sooner or later.

God save us from people who mean well. -storm