Post: #1

As a resident of Boston, I am surrounded by foolish millennials who continue to think that more student loans and a higher up degree are the path to financial success.

Can't find a job? Go to graduate school! That master's degree in public health, philosophy, law, and other fluff from a second or third tier university will get you a job!

How is it that a bunch of supposedly "highly" credentialed individuals didn't think that, "Oh golly gee lets go and do more of the same because i'm good at taking tests and school lets me delay the cold reality that I have no marketable skills beyond being a compliant test taker? Mommy, daddy, and my college career office said that if I get some even more expensive paper degrees i'll get a cushy white collar job!

Ever notice that these individuals tend to be of the progressive, multicultural variety? These people are convenient useful idiots for a financial system built on cheap oil.

These people have foolishly enslaved themselves to a puppet master that knows that personal loans are slavery.

The worst part is, these individuals are some of the most stuck up and entitled individuals you will ever meet. Not just the women, but the men as well.

"Respect me! I have a college degree!"

The car mechanic who is up to date on his loans in my opinion is the one whose voice should be heard at the voting booths.

The $95,000 indebted sociology major who has been in default for two years while working at Starbucks should be praying every day that they don't make debtors prison a thing again. He deserves no respect nor should his opinion have any sway in politics. If you can't make good decisions about your education, let alone finances, what makes us think he'll be able to vote accordingly?

TL;DR
Here's a grand solution, if you're in default for your government subsidized student loans you don't deserve the right to vote.

Post: #2

This will be the next bubble, bailout or whatever you want to call it. I am rushing to pay off my mortgage before it hits.

Post: #3

(11-05-2014 01:08 PM)IvanDrago Wrote:  This will be the next bubble, bailout or whatever you want to call it. I am rushing to pay off my mortgage before it hits.

What is your reason to pay off your mortgage before this hits? Fear the bank might try to pull your loan out from under you if things get bad enough?

Or maybe you have a ARM loan?

Post: #4

I stopped paying down my student loan (small at this point) because the government may bail out. That tells you how ridiculous our country has become.

Post: #5

(11-05-2014 01:10 PM)It_is_my_time Wrote:  

(11-05-2014 01:08 PM)IvanDrago Wrote:  This will be the next bubble, bailout or whatever you want to call it. I am rushing to pay off my mortgage before it hits.

What is your reason to pay off your mortgage before this hits? Fear the bank might try to pull your loan out from under you if things get bad enough?

Or maybe you have a ARM loan?

No, it is fixed but I just want to have zero debt. My mortgage is the only loan I have but that is one too many in my mind. I can afford it now and have half paid off but I want the peace of mind going forward owing nothing to anyone.

Post: #6

Posted this thread because of the BS i see on my facebook feed from so called "smart" people complaining about the election. I know these people have been unable to pay down their loans.

I doubt there will be a bail out for student loans. Where is all of that money going to come from? The Fed and the government used all of their magic bullets in the last recession.

Post: #7

I'm going to advocate for the other side of the coin here. It's a side that needs to be heard.

The reason why young millenials are underemployed and in debt is this: there are no fucking jobs.

The "economy" is a rigged game where the rich plutocrats hold all the cards and 95% of the country's wealth is in the hands of the top 1%. It's a recipie for social stagnation, severe inequality, seething social problems, and impending crisis.

Our society now resembles a Third World type of stratification, with the minorities and poor stuck at the bottom in miserable ghettoes or in trailer park squalor. The middle class has been destroyed.

And yet the US continues to vote for the same people, over and over again. I've given up looking for political solutions. The only real revolutions are those of the individual mind and spirit.

Are there a lot of entitled neckbeards and manginas with sociology degrees? Of course. But the major culprits here are the thieves at the top of the pile in the US who have stolen the wealth and opportunities of the country for themselves. They've also dismantled the manufacturing base of the country. They're the ones who continue to look the other way regarding illegal immigration so that they can take advantage of slave labor.

Millenials got screwed, along with all the rest of us. I feel bad for them. They were sold out, betrayed, and ripped off by a rigged game controlled by our political and economic thieves.

I hope they wake up and focus their rage where it properly belongs.

And when that happens, it will be glorious.

Post: #8

(11-05-2014 01:19 PM)Quintus Curtius Wrote:  I'm going to advocate for the other side of the coin here. It's a side that needs to be heard.

The reason why young millenials are underemployed and in debt is this: there are no fucking jobs.

The "economy" is a rigged game where the rich plutocrats hold all the cards and 95% of the country's wealth is in the hands of the top 1%. It's a recipie for social stagnation, severe inequality, seething social problems, and impending crisis.

Our society now resembles a Third World type of stratification, with the minorities and poor stuck at the bottom in miserable ghettoes or in trailer park squalor. The middle class has been destroyed.

And yet the US continues to vote for the same people, over and over again. I've given up looking for political solutions. The only real revolutions are those of the individual mind and spirit.

Are there a lot of entitled neckbeards and manginas with sociology degrees? Of course. But the major culprits here are the thieves at the top of the pile in the US who have stolen the wealth and opportunities of the country for themselves. They've also dismantled the manufacturing base of the country. They're the ones who continue to look the other way regarding illegal immigration so that they can take advantage of slave labor.

Millenials got screwed, along with all the rest of us. I feel bad for them. They were sold out, betrayed, and ripped off by a rigged game controlled by our political and economic thieves.

I hope they wake up and focus their rage where it properly belongs.

And when that happens, it will be glorious.

The thing is, most of these politicians who let this whole act go on were voted in by someone. The system works so long as the people voting aren't idiots. The people warning about this day for the past fifty years were ignored and laughed at.

It takes two to tango and in this case, fools were suckered in for years with something for nothing. Now the whole shebang is coming back to roost.

Heck, I also think people on welfare assistance don't deserve the right to vote either.

This solution won't fix the budget problems and it is far from perfect, but it will keep the suckered fools who eat up these shyster politicians' promises out of the polls. It's a start towards returning to some semblance of a functioning government.

Post: #9

^ No. The millenials want to make 120k a year to play on social media all day. They are lazy, spoiled and entitled.

There's plenty of work out there just not a lot of Facebook browsing positions that pay 6 figures.

Post: #10

(11-05-2014 01:31 PM)el mechanico Wrote:  ^ No. The millenials want to make 120k a year to play on social media all day. They are lazy, spoiled and entitled.

There's plenty of work out there just not a lot of Facebook browsing positions that pay 6 figures.

I don't know...I've gone back and forth about this. Yeah, sure, some (or a lot) of them are pampered whiners. But a lot of them are not.

For me, the problem starts at the top. But it's also true that the public shares in the blame for choosing the leaders they have.

But here's an inspiring story about a dude who kicked ass as a shoe shiner:

http://www.cnn.com/2014/10/27/business/l...=obnetwork

Post: #11

(11-05-2014 01:31 PM)el mechanico Wrote:  ^ No. The millenials want to make 120k a year to play on social media all day. They are lazy, spoiled and entitled.

There's plenty of work out there just not a lot of Facebook browsing positions that pay 6 figures.

I'm going to agree. When I was ready to graduate college, I had no job prospects and a useless degree to boot. I was ashamed and freaking out at the prospect of returning home.

We went around my senior seminar asking what we were all going to do. A lot of kids said they were going to go home and work, others planned on going to California to try and make it in Hollywood, I said, "I'm going to enlist in the Navy OCS program. I don't want to go home and work a crappy part time job."

At that point, I had already talked to a recruiter.

Everyone looked at me like I was nuts. I said to them all, "At least I'll be making some real coin and not be at home."

There are jobs out there, but no one wants to be a car mechanic, oil sands worker, or any other blue collar trade. They all want a posh white collar desk job.

Actually, most of the unemployed are women so it isn't any surprise to me.

(11-05-2014 01:36 PM)Quintus Curtius Wrote:  

(11-05-2014 01:31 PM)el mechanico Wrote:  ^ No. The millenials want to make 120k a year to play on social media all day. They are lazy, spoiled and entitled.

There's plenty of work out there just not a lot of Facebook browsing positions that pay 6 figures.

I don't know...I've gone back and forth about this. Yeah, sure, some (or a lot) of them are pampered whiners. But a lot of them are not.

For me, the problem starts at the top. But it's also true that the public shares in the blame for choosing the leaders they have.

But here's an inspiring story about a dude who kicked ass as a shoe shiner:

http://www.cnn.com/2014/10/27/business/l...=obnetwork

There are a lot of good ones out there like myself who managed to land a job through no assistance via college. Looking through my email, I applied and sent out my resume to 500 different job postings. These were for white collar jobs. Like I said to El mech, I almost enlisted if I wasn't going to get a job in the private sector. Going back home is the epitome of failure to me.

Post: #12

Great posts.

@Quintin Curtis - Very well said. I'm a firm believer we spend a lot of time pointing fingers at each other instead of identifying the true structural problems.

@frenchie - Agreed, except about those on welfare assistance. Of course I'm against welfare fraud, but I think shit can happen to people and they have nowhere else to turn.

@el mechanico - Ha, so unbelievably true. I'm sometimes involved in hiring at my company, and see financials. In addition to that, just listening to how so many millenials talk about pay is hilarious. "I have a friend who makes $100k and he/she is less experienced/degreed than me…blah, blah, blah". First off, having seen payroll, so many people lie about their pay.

But what's most interesting is that those that don't bitch are the ones that also work the hardest. The one's that complain confuse being outspoken with being assertive and appropriately aggressive.

Granted, this is coming from someone who is currently sitting in his office in the RVF forums instead of focusing on my work. But I also get in before most people and work remotely from home as needed. I think a lot of people want to work 9-5, that's it, and make six figures. This isn't just millenials either, I remember seeing this when I was out of college (I'm late 30s). Either one learns that isn't the way or they just bitch about it their entire lives that the world won't adapt to them. Just like feminists.

EDIT:

@frenchie

Quote:There are jobs out there, but no one wants to be a car mechanic, oil sands worker, or any other blue collar trade. They all want a posh white collar desk job.

Spot on. And not only that, the posh white collar desk job often isn't that. The top people at my company make insane $$, but they are often working in some capacity 24/7. I think I get in early some days, and there is an email waiting from the CEO that he sent to me at 2 am.

Post: #13

Quote:There are jobs out there, but no one wants to be a car mechanic, oil sands worker, or any other blue collar trade.

You can throw septic tank service in there as well.

Regardless, the guy that owns the company probably wont be diving in your tank. He probably could and would but doesn't have to.

Post: #14

(11-05-2014 01:10 PM)It_is_my_time Wrote:  

(11-05-2014 01:08 PM)IvanDrago Wrote:  This will be the next bubble, bailout or whatever you want to call it. I am rushing to pay off my mortgage before it hits.

What is your reason to pay off your mortgage before this hits? Fear the bank might try to pull your loan out from under you if things get bad enough?

Or maybe you have a ARM loan?

Protip: read almost any load contract you enter into. Cars, houses, etc. Almost every one has a clause that the financing company can recall the loan at any time, and force you to pay the balance immediately (with an adjustment for early payment and interest, etc). It's usually not something you hear about, but it's a part of a significant amount of loan contracts. Scary.

Don't have debt.

Post: #15

(11-05-2014 02:14 PM)ryanf Wrote:  

(11-05-2014 01:10 PM)It_is_my_time Wrote:  

(11-05-2014 01:08 PM)IvanDrago Wrote:  This will be the next bubble, bailout or whatever you want to call it. I am rushing to pay off my mortgage before it hits.

What is your reason to pay off your mortgage before this hits? Fear the bank might try to pull your loan out from under you if things get bad enough?

Or maybe you have a ARM loan?

Protip: read almost any load contract you enter into. Cars, houses, etc. Almost every one has a clause that the financing company can recall the loan at any time, and force you to pay the balance immediately (with an adjustment for early payment and interest, etc). It's usually not something you hear about, but it's a part of a significant amount of loan contracts. Scary.

Don't have debt.

That will never happen.

Post: #16

There's also the issue of millenials being either lied to or given terribly outdated information by older people they trusted.

I can't remember how many times I heard 'if you get a college degree you can get all sorts of jobs.'

Probably true in the 60s, 70s, and 80s when college degrees were more rare and impressive.

A lot of older folks are clueless when it comes to the job market, dating, etc. Times have changed.

Of course when many of the millenials find this out they just double down and keep going for more degrees rather than cutting their losses and learning a skill.

Post: #17

Even when you leave high school, unless your family has imbued you with a sense of just how much of a bitch life really is, your mind has already been roasted by the idea that the greatest hardship in life is fighting for social justice. What little raw survival instinct is left is then completely roasted, toasted and fried in college.

I can't help but feel sorry for both the younger generations who have been totally destroyed by our institutions and the small handful of competent people who carry the weight of taxes and services in keeping the world turning for the raft of human shit that surrounds them.

This thing is going down, probably so slowly we won't notice, but it's going down.

Post: #18

(11-05-2014 01:49 PM)CRR Wrote:  But what's most interesting is that those that don't bitch are the ones that also work the hardest. The one's that complain confuse being outspoken with being assertive and appropriately aggressive....

This isn't just millenials either, I remember seeing this when I was out of college (I'm late 30s). Either one learns that isn't the way or they just bitch about it their entire lives that the world won't adapt to them. Just like feminists.

Used to be all about this inter-generational stuff until I realized the following:

Eighty percent of every generation is at best average and at worst total shit.

Millennials who are on top of things aren't easy to find because they're too busy busting ass trying to conquer this post-industrial dystopia.

The "outspoken" millennials are the average to subpar 80%. The publicize their own complaints and failings. The media laps this up and disseminates this to a wider audience because people enjoy pissing on other generations to make themselves feel good.

Gen X and Boomers were just as lazy as millennials (Gen X was, lest we forget, "the slacker generation"). You see it today in the workplace... Gen X and Boomer contractors / clients will schedule work around their free time and not the other way around like someone - irrespective of generation - who will do whatever it takes. They'll complain, lay blame, and be negative losers just like the millennials... except they won't do it on social media (unless it's about politics) and won't get attention from the media (middle age people complaining doesn't generate any interest).

The older generations could live relatively well on a 9-5. Put Gen X or Boomers in today's economy with the current educational and media's narcissistic brainwashing and you'd have the same result. Flip it around and put Millennials in the Boomer era and it would be the same war protests, acid trips, race riots, and free love...

PS OK, one inter-generational thing... Fuck (80% of) Generation X with a dirty dick. I'm in between Millennial and Gen X and to see these fucking betabitchpussies try to act like distinguished elders is at once the saddest and most infuriating shit I have ever seen. They all like to pretend that they're not fat too.

Post: #19

L'Oreal generation

Post: #20

I firmly believe that the west has lived too well for too long and it's finally time to pay the piper. Why, by virtue of being born in the west do you deserve to make 50k/yr (or whatever) for a factory job, while the same job in India pays 5k? Unless you want to close down trade completely, it's a reality that needs to be faced.

As Quintus said, a lot of people got sold down river. The guys at the top want to take advantage of third world production, and sell to first world markets. The other side of the coin is why can't people here take advantage of third world prices? If you're making minimum wage but can get $1 meals, not as big an issue, but no, we need to protect the farmers.

I've alluded to it in other posts, but I really think we're in the early stages of a 'fall of Rome' type scenario. People are too entitled, too spoiled, have never known true poverty or hunger, and if you're so inclined, you can live better than 75% of the world off public assistance. The spirit, industriousness, and creativity that built the US has dissipated, and the majority of people today have been riding on the laurels since. The idea of starving to death in the US is as foreign as aliens.

Post: #21

I can confirm that many millennials are in fact entitled. I would know this because I am a millennial here in Baltimore and have to deal with these people all the time. I chose not to go to college for 3 reasons

1. To get a head start on starting my business
2. To take advantage of online courses
3. To conduct my own research in my mini lab.(Yes I have a mini lab)
   

In regards to business is a big deal. I have no desire for some small business. I am talking something major. I am honing certain "skills" I already have with major interest in robotics, biomechatronics, and something else I won't mention here.

Excuse my vulgarity but most of the people I meet are fucking clueless. They know nothing about how things work. They don't know how to fix simple things; from food to their sink. They want to be victims and complain about shit all the time when they should be sucking it up (especially men) and using that anger and energy to build some things and solve some problems; not just mindless bitching. Other men I meet just want to fuck bitches and get money; but they don't even know how to spend properly.

It's even worse because I am black and I have to deal with dumbass questions and behavior. People asking me if I like chicken or assuming I go to their black church. I speak properly and they think I'm acting white. Other black people i meet talk politics but know nothing of science.
Can't relate to these people man.

Yes the game is rigged; but that is not a reason to give up. You can't avoid suffering. You need to stand firm and try harder or you will become weak. You really do become weaker mentally and emotionally. But that is okay. I will continue doing what I am doing. Being a 21 yr old male it is the perfect time to start. No obligations to women or debt to worry about here. I refuse to be held back by other people's bullshit

Post: #22

(11-05-2014 01:19 PM)frenchie Wrote:  Posted this thread because of the BS i see on my facebook feed from so called "smart" people complaining about the election. I know these people have been unable to pay down their loans.

I doubt there will be a bail out for student loans. Where is all of that money going to come from? The Fed and the government used all of their magic bullets in the last recession.

Actually I was reading an article. There will never be a bailout for 2 reasons:

1. They aren't that important. Banks were.

2. There is no bubble. Never was any. 2008-2009 did see an increase in defaults but the years after actually had an increased payment. Unless these guys refuse to work and become homeless, they have to pay back debt to the gov't. Grnishment isn't going anywhere.

3. The so called 1 trillion dollar debt isn't something to be scary. Nor will it be when it hits 1.5 billion. No more than it was when it was 750billion. The average debt is 29k, a reasonable amount that most students can pay back. The majority don't fit your stereotype (english majors with 120k debt lol)

4. It isn't a bubble. Degrees haven't loss value. In today's world you practically need one so they mostly pay off in the long term. Graduates still make more over a life time.


Honestly the few who have created a so called bubble for themselves are a minority and will have to deal with it but I am certain even they will make more in their lifetime than they paid for their education. So technically it isn't a bubble.

Quote:Here's a grand solution, if you're in default for your government subsidized student loans you don't deserve the right to vote.

Fuck that..send them to the army. They thought they were too good to join up for 3 years and come out with a BA degree still having the GI bill to go to graduate school.
As a generation x'er...we had it the worst.

Came on when unions were dying but no computer/online type of work business.

1st latchkey kids in a time when it was a stigma and we weren't considered cool if we had to go on pills for ADD,etc.

We also had to work while in school to help pay the bills and we weren't allowed to use calculators when we took exams. We are the last generation that probably knows arithmetic lol.

Couldn't play with our smartphone/laptop during our boring classes that mostly had no AC.

Girls were afraid to fuck because of Aids but we grew up right after the era of free love/sex.

When we needed to make a phone call we had to walk half a mile to find a working payphone that didn't have mustard on it.

Betamax and VHS..need a say more?

Our computer games consisted of a triangle and a square but we had to imagine that they were people, animals,etc.

On our tv shows NO ONE EVER DIED OR IT WAS RARE. I counted 1 dead taxi driver killed on an episode of the 3rd season of the A team. But every week guys would crawl out of crashed exploding helicopters.

Our music was on cassettes that always had the magnetic strip rip apart.

If you weren't a jock you had to be a punk rocker. If not you were a nerd regardless of your abilities and attitude. Today pc has made everyone get along.

denim skirts were a girls idea of dressing up lol.

Someone had to hold the rabbit ears to watch tv.


Most students would have little or no debt if they went to public college and worked part/full time during.

Post: #23

Try finding an internship that doesn't require any experience...

A college degree is really just proof that you can learn, you would then learn on the job ie get skills through work experience (internships/apprenticeships/projects), it's true to some extent for trades as well

So part of the problem is that businesses don't want to train people anymore, so they lobby govts to start importing migrant workers to use a cheap labor which brings down salaries, etc. you get the picture

The economy is rigged and we're on the road back to serfdom and the only way to opt out of this rat race is to become independently wealthy / self-employed

Post: #24

(11-05-2014 12:32 PM)frenchie Wrote:  Can't find a job? Go to graduate school! That master's degree in public health, philosophy, law, and other fluff from a second or third tier university will get you a job!

Forget about 2nd and 3rd tier schools, I know plenty of people who went to top tier universities and still have no job, no prospects, haven't a clue of what to do with their lives. And it's not just the humanities degrees; I personally know people who went to prestigious law schools, b-schools, engineering/tech schools; people who went to Berkely, UCLA, U of Chicago, Georgetown, and still... nothing. Nothing but thousands of debt that's building interest.

I was almost guilty of this myself when I got the bright idea to apply to b-schools a few years and even got accepted to a top 20 school (USC Marshall) before I came to my senses. 23% of 2-years-out MBA grads from USC are unemployed. Why Getting an MBA isnt worth it Looks like I dodged a bullet. I'm gaining valuable work experience, clock watching and training myself up to build a freelance engineering business and/or work for a niche-y design firm. None of this necessarily requires a master's degree, engineering or business.

I would say unless you want to become a doctor, lawyer, or scientist/researcher and you know what you're doing; post-grad studies are largely a waste of time and money. Although if I had time/money to burn, I guess I wouldn't mind doing an MA in Psychology or Art History and spending 2 years chasing top-caliber arts degree chicks.

Post: #25

Another point many here forget...feminism. Once women started working in = occupations and numbers in the 70's and 80's(late baby boomers /early X'ers) it was ALL over.

More supply in the workforce means we had to compete more and salaries go down. It also caused the destruction the labor unions since an increasing supply of workers came who weren't in unions..women.

They did more to deteriorate our standard of living than hiring immigrants did. Since women entered the workforce... real income has decreased.