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Started By
Message
re: Student loan debt just topped $1.52 trillion
Posted on 5/22/18 at 11:42 am to rivermonsters87
Posted on 5/22/18 at 11:42 am to rivermonsters87
I’m scared this might be the next bubble. Trumps economy is improving, but I don’t know if it can keep pace.
0
Posted on 5/22/18 at 11:42 am to HeyHeyHogsAllTheWay
quote:
Most large chains already pay well over the minimum wage, Wal Mart, for example, recently announced that their new starting wage is $10 an hour. Almost a full $2 an hour higher than the minimum wage.
Sigh. You just can’t go with a basic economic hypothetical?
And yep. Walmart sure does. And NATURAL wage increase, such as this, is healthy. FORCED increases is what we’re discussing here. Keep along.
quote:
How can they do that when you claim that doing so would either cause their prices to go so high no one could shop there, or cause them to shutter the doors?
Not anywhere close to what I claimed. Your reading comprehension needs work
quote:
Seriously, this would be funny if it wasn't so sad.
Agreed. You have an elementary level knowledge on even the most basic of economic principles
quote:
Got any other topics you would like me to beat you about the head with?
Still waiting on you to explain the whole.... if everyone had a medical degree they would all perform the same job for $9 an hour thing
Posted on 5/22/18 at 11:50 am to stuntman
quote:
Demand is high because government is giving out loans like candy to almost anyone who wants one.
If government stopped giving loans and grants, tuition costs would plummet, dumb/useless classes would be dropped, and actual education, not indoctrination, would flourish.
Bingo.
loans being handed out artificially increases demand. colleges have no incentive to lower tuition, because theres always going to be kids with loan money to blow.
Posted on 5/22/18 at 12:00 pm to beerJeep
quote:
Still waiting on you to explain the whole.... if everyone had a medical degree they would all perform the same job for $9 an hour thing
WTF? if everyone had a medical degree, do you think anyone would want to work in say Wal Mart for $10 if the medical field was still paying $100 an hour or more? Of course not , so two things would happe.
1. The lower tier jobs would have to raise wages to attract workers
2. The higher end jobs would offer less because they would have more candidates to choose from.
This is the law of supply and demand that you clearly don't understand.
Now back to the minimum wage. YOu understand that is a completely artificial number and takes the market out of the equation right.
Good, now perhaps you can explain to me why a minimum wage worker is only worth 80$ of what he or she was in 1968?
Or maybe you just don't understand what real dollars are and thus it isn't clicking in your head that you can directly compare 1968 wages to 2018 wages and see that "hey low wage workers ARE earning less than they have historically"
This kind of attitude is exactly what I was talking about earlier when I said conservatives prove they don't give a shite about lower wage earners , which gives the ridiculous Democrats an opening they shouldn't have.
Posted on 5/22/18 at 12:03 pm to rivermonsters87
I can see how this student loan debt could be this large.
I put three girls through college and have a Son halfway through right now. My wife and I were talking about this just the other night as we prepare to pay Fall semester tuition for our Son.
Between the girls and our Son, when all is said and done including tuition, books, room and board and other expenses, even with lotto money for the two kids who stayed in state ... we're looking at close to a half a million dollars that we have paid, will pay, to get them through their schools (UNC and UC Berkeley for the oldest, C of C for the second oldest, Miami and FIU for the youngest daughter, and now a small private Lutheran college in state for our Son.).
I do not understand how universities and colleges can continue to raise tuition costs and expect most families to be able to even contribute, much less absorb those costs with the hope of sending our children out into the world unsaddled and without massive debt.
What a terrible way to start an adult life, with debt it woukd take decades to pay-off. It's an absolute travesty and all for the sake of paying farleftwingliberalnutjob professors more and more and more money to indoctrinate our children into the socialist mindset ... all the while using the same student debt as a reason to support Socialism.
It boggles the mind.
I put three girls through college and have a Son halfway through right now. My wife and I were talking about this just the other night as we prepare to pay Fall semester tuition for our Son.
Between the girls and our Son, when all is said and done including tuition, books, room and board and other expenses, even with lotto money for the two kids who stayed in state ... we're looking at close to a half a million dollars that we have paid, will pay, to get them through their schools (UNC and UC Berkeley for the oldest, C of C for the second oldest, Miami and FIU for the youngest daughter, and now a small private Lutheran college in state for our Son.).
I do not understand how universities and colleges can continue to raise tuition costs and expect most families to be able to even contribute, much less absorb those costs with the hope of sending our children out into the world unsaddled and without massive debt.
What a terrible way to start an adult life, with debt it woukd take decades to pay-off. It's an absolute travesty and all for the sake of paying farleftwingliberalnutjob professors more and more and more money to indoctrinate our children into the socialist mindset ... all the while using the same student debt as a reason to support Socialism.
It boggles the mind.
Posted on 5/22/18 at 12:27 pm to HeyHeyHogsAllTheWay
quote:
WTF? if everyone had a medical degree, do you think anyone would want to work in say Wal Mart for $10 if the medical field was still paying $100 an hour or more? Of course not , so two things would happe.
If everyone has a medical degree, than a medical degree is no longer a specialized degree and is, effectively, useless. As every Tom dick and harry have the exact same skill set as you.
So those who have the proper knowledge and skills would pursue other jobs and degrees that were in high demand and get paid accordingly.
Not sure what your getting at.
quote:
This is the law of supply and demand that you clearly don't understand.
Says the guy who thinks the medical field would still be paying $100 an hour when literally every single person has the skills and knowledge to perform the job effectively.
quote:
Good, now perhaps you can explain to me why a minimum wage worker is only worth 80$ of what he or she was in 1968?
Because a mandated minimum wage is detrimental to minimum wage workers. Eliminate the minimum wage entirely.
quote:
maybe you just don't understand what real dollars are and thus it isn't clicking in your head that you can directly compare 1968 wages to 2018 wages and see that "hey low wage workers ARE earning less than they have historically"
Buddy. You just said if everyone had a medical degree, that medical jobs would still pay $100 an hour. You have quite literally, no grasp on supply and demand, nor the effects of minimum wage and mandated increases in minimum wage to those who make minimum wage.
quote:
This kind of attitude is exactly what I was talking about earlier when I said conservatives prove they don't give a shite about lower wage earners , which gives the ridiculous Democrats an opening they shouldn't have.
Come back and talk when you understand economics and we can try this talk again.
I don’t think you’re stupid. I just think you’re willfully ignorant.
Posted on 5/22/18 at 12:30 pm to beerJeep
I'll be pretty fricking pissed off if loans are forgiven after paying in excess of 40k off... 
Posted on 5/22/18 at 12:30 pm to beerJeep
quote:
If everyone has a medical degree, than a medical degree is no longer a specialized degree and is, effectively, useless. As every Tom dick and harry have the exact same skill set as you.
Holy shite, then just substitute in PhD instead to make the point you fricking idiot. If every person in the US had a higher degree and was qualified for those jobs then those jobs would be worth less.
Now, have a good day.
Posted on 5/22/18 at 12:31 pm to scrooster
Now ask yourselves how millennial couples (both educated) can also afford $900/month for daycare (also consider the cost of real estate & healthcare costs). Then ask yourself if you think this is going to create societal problems long term.
This post was edited on 5/22/18 at 12:32 pm
Posted on 5/22/18 at 12:31 pm to HeyHeyHogsAllTheWay
This will end badly. Someone needs to have the balls and step in before it goes to shite.
Posted on 5/22/18 at 12:34 pm to rivermonsters87
It’s mainly making having kids less affordable.
Posted on 5/22/18 at 12:35 pm to HeyHeyHogsAllTheWay
quote:
Holy shite, then just substitute in PhD instead to make the point you fricking idiot. If every person in the US had a higher degree and was qualified for those jobs then those jobs would be worth less.
Lol now you’re mad?
If everyone has the same skill set and knowledge base, then they aren’t specialized and won’t be paid a specialized pay.
Hence why your retarded arse statement that If everyone has a medical degree that the pay for those with medical degrees would stay at $100/an hour absolutely asinine with zero basis in reality.
Posted on 5/22/18 at 12:36 pm to TeLeFaWx
It isn’t that the debt is unaffordable. It just makes having children (from a financial point of view) extremely difficult (and that is coming from someone with $65k @ 5.75%). Having children will never be an option because of this for my brother & SIL and they have sort of accepted it at this point.
This post was edited on 5/22/18 at 12:40 pm
Posted on 5/22/18 at 12:40 pm to IrishTiger89
quote:
It isn’t that the debt is unaffordable. It just makes having children (from a financial point of view) extremely difficult (and that is coming from someone with $65k @ 5.75%). Having children will never be an option because of this for my brother & SIL and they have sort of accepted it at this point.
This is what I meant.
Posted on 5/22/18 at 12:43 pm to IrishTiger89
What’s your solution?
The fact is that if you graduate with a practical degree which ensures you a good chance at a good paying job, it was an investment all along.
The fact is that if you graduate with a practical degree which ensures you a good chance at a good paying job, it was an investment all along.
Posted on 5/22/18 at 12:49 pm to HailHailtoMichigan!
My solution is that it should come out of you social security payments (and then government pays you out that much less when you retire). The key is to remove the burden during growth years (20-40) when you have lower incomes to the later life (50-65) when you have lower childcare expenses and higher incomes.
Ideally it should come out of you retirement in some way.
Ideally it should come out of you retirement in some way.
This post was edited on 5/22/18 at 12:53 pm
Posted on 5/22/18 at 1:03 pm to IrishTiger89
quote:
My solution is that it should come out of you social security payments (and then government pays you out that much less when you retire). The key is to remove the burden during growth years (20-40) when you have lower incomes to the later life (50-65) when you have lower childcare expenses and higher incomes.
Ideally it should come out of you retirement in some way.
You cant take out of something that won't exist at qualifying age.
Posted on 5/22/18 at 1:05 pm to 50_Tiger
Then take it out of 401ks at retirement.
This post was edited on 5/22/18 at 1:07 pm
Posted on 5/22/18 at 1:06 pm to RogerTheShrubber
quote:
What are their views?
At the present time the republicans have cut higher education past the bone. They want to cut more. They do not support or fund our universities. This isn’t really debatable. Also, under DeVos, there is a continuing push to open the door to profiteering on students. We can look at the details all day, but I have not heard any Republican in the last several years that I can recall discussing anything to lessen the blows that these policies have caused.
Posted on 5/22/18 at 1:09 pm to TBoy
This is pretty much fact and Trump is pushing to end loan forgiveness.
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