Effect of Student Debt on the Economy Stupid

pawz

https://www.cnbc.com/amp/2018/03/01/student-loan-problems-could-hold-back-economic-growth-fed-chief-says.html?__twitter_impression=true




The road to hell is paved with good intentions. It's a good idea that everyone that wants it should get an education. The underlying problem is - exactly like healthcare - the system is set up to INSURE PAYMENT. This causes 2 massive problems.

1st - It creates an artificial monopoly in higher education's economic solar system. Econ 101, monopolies only benefit suppliers. There is absolutely ZERO incentive for the suppliers of education to keep costs down. The cost of education continues to rise unabated.

2nd - And to the point of the article, it burdens a generation of people with debt they can't get out from under - ever. Consumer debt is 100% modern day slavery.. Now if someone is going to be doctor, engineer, lawyer, architect etc then you can argue the 'investment' is likely to pay for itself. But the majority get a liberal arts degree or do something professionally that relegates the education to consumerism.

So yes, I'm advocating for turning the system on it's head for the long-term good of common person.

As it sits, these Student Loan organizations get draconian laws written so that people can never get out from under the debt. For example, if you have a real estate license in the state of WA, if you get behind on ONE student loan payment, they pull your real estate license - your means of making money.

Going full circle, the article is suggesting if people are forced to spend their expendable-dollar on debt, they won't spend it in the economy - thus no economic growth.

Swaye

Agree. The rise in education costs the last 30 years is absolutely absurd. There is no reason for it other than the money exists, via loans, so schools take it. And instead of carefully managing money to keep costs down, they buy armies of "administrators." It's a shit show.

YellowSnow

They are a terrible distortion of the free market. We've really screwed the pooch on this idea that a BA or BS is the only path to a middle class standard of living.

PurpleThrobber

Certainly the cost of education has escalated....but let's not discount the lack of personal responsibility of the millennials/millennials parents for lusting over bachelors degrees from elite public and private institutions.

Nothing wrong with a couple years at a community college getting the basics out of the way dirt cheap and then moving to a four-year.

I weep virtually no tears and give no fucks over student debt loads.

That said, Jake Browning sucks and college administrators should be forced to live on half their salary.

2001400ex

While I do agree the cost of college has escalated to a point of being fucktarded. (I paid $3,500 a year in the late 90s, good luck finding that now).

Most if the rest of your post is idiotic and something a poor uneducated person thinks. First, how the fuck is there a monopoly?

Then this is the unemployment rate, what group has the lowest unemployment? Is it the high school drop outs? Or the college educated folk? You can rail on liberal arts degrees but it looks like they have jobs.

AZDuck

PurpleThrobber said:

Certainly the cost of education has escalated....but let's not discount the lack of personal responsibility of the millennials/millennials parents for lusting over bachelors degrees from elite public and private institutions.

Nothing wrong with a couple years at a community college getting the basics out of the way dirt cheap and then moving to a four-year.

I weep virtually no tears and give no fucks over student debt loads.

That said, Jake Browning sucks and college administrators should be forced to live on half their salary relocate to Kampuchean re-education camps.

PurpleThrobber

AZDuck said:

PurpleThrobber said:

Certainly the cost of education has escalated....but let's not discount the lack of personal responsibility of the millennials/millennials parents for lusting over bachelors degrees from elite public and private institutions.

Nothing wrong with a couple years at a community college getting the basics out of the way dirt cheap and then moving to a four-year.

I weep virtually no tears and give no fucks over student debt loads.

That said, Jake Browning sucks and college administrators should be forced to live on half their salary relocate to Kampuchean re-education camps.

The judges will accept said edits.

Fuck AAU parents with an AIDS/Ebola/VenoyOvertonWhoreSTD infested cheese grater.

RaceBannon

People forget that many universities have endowments that would allow free tuition without the feds paying for it or the student going into debt

doogie

figures lie and liars figure

pawz

PurpleThrobber said:

Certainly the cost of education has escalated....but let's not discount the lack of personal responsibility of the millennials/millennials parents for lusting over bachelors degrees from elite public and private institutions.

Nothing wrong with a couple years at a community college getting the basics out of the way dirt cheap and then moving to a four-year.

I weep virtually no tears and give no fucks over student debt loads.

That said, Jake Browning sucks and college administrators should be forced to live on half their salary.

In theory, I completely agree.

In practice kids are being sold debt hand-over-fist, and they aren't getting the guidance from their parents, counselors anywhere that it's a dangerous honey pot and what the long term ramifications can be.

pawz

2001400ex said:

While I do agree the cost of college has escalated to a point of being fucktarded. (I paid $3,500 a year in the late 90s, good luck finding that now).

Most if the rest of your post is idiotic and something a poor uneducated person thinks. First, how the fuck is there a monopoly?

Then this is the unemployment rate, what group has the lowest unemployment? Is it the high school drop outs? Or the college educated folk? You can rail on liberal arts degrees but it looks like they have jobs.

Nobody is surprised that a) you don't understand basic, fundamental microeconomic concepts, and b) you're parroting the establishment line to keep people enslaved by debt.


#aclockworkshill

2001400ex

pawz said:

2001400ex said:

While I do agree the cost of college has escalated to a point of being fucktarded. (I paid $3,500 a year in the late 90s, good luck finding that now).

Most if the rest of your post is idiotic and something a poor uneducated person thinks. First, how the fuck is there a monopoly?

Then this is the unemployment rate, what group has the lowest unemployment? Is it the high school drop outs? Or the college educated folk? You can rail on liberal arts degrees but it looks like they have jobs.

Nobody is surprised that a) you don't understand basic, fundamental microeconomic concepts, and b) you're parroting the establishment line to keep people enslaved by debt.


#aclockworkshill

Ironic POTD. It's awesome watching someone ignore basic facts and tout the "liberal arts degree" rallying cry, then try to call someone else out for being a parrot.

What about personal responsibility? If you want to go to Gonzaga and pay $50k a year and are too stupid to find scholarships, then you should be riddled with debt your whole life.

pawz

2001400ex said:

pawz said:

2001400ex said:

While I do agree the cost of college has escalated to a point of being fucktarded. (I paid $3,500 a year in the late 90s, good luck finding that now).

Most if the rest of your post is idiotic and something a poor uneducated person thinks. First, how the fuck is there a monopoly?

Then this is the unemployment rate, what group has the lowest unemployment? Is it the high school drop outs? Or the college educated folk? You can rail on liberal arts degrees but it looks like they have jobs.

Nobody is surprised that a) you don't understand basic, fundamental microeconomic concepts, and b) you're parroting the establishment line to keep people enslaved by debt.


#aclockworkshill

Ironic POTD. It's awesome watching someone ignore basic facts and tout the "liberal arts degree" rallying cry, then try to call someone else out for being a parrot.

What about personal responsibility? If you want to go to Gonzaga and pay $50k a year and are too stupid to find scholarships, then you should be riddled with debt your whole life.

Fuck off, shill.

YellowSnow

RaceBannon said:

People forget that many universities have endowments that would allow free tuition without the feds paying for it or the student going into debt

Harvard's endowment is $36 Billion. Bama's is $632 Million. Harvard should hire Saban and quit sucking at football.

2001400ex

pawz said:

2001400ex said:

pawz said:

2001400ex said:

While I do agree the cost of college has escalated to a point of being fucktarded. (I paid $3,500 a year in the late 90s, good luck finding that now).

Most if the rest of your post is idiotic and something a poor uneducated person thinks. First, how the fuck is there a monopoly?

Then this is the unemployment rate, what group has the lowest unemployment? Is it the high school drop outs? Or the college educated folk? You can rail on liberal arts degrees but it looks like they have jobs.

Nobody is surprised that a) you don't understand basic, fundamental microeconomic concepts, and b) you're parroting the establishment line to keep people enslaved by debt.


#aclockworkshill

Ironic POTD. It's awesome watching someone ignore basic facts and tout the "liberal arts degree" rallying cry, then try to call someone else out for being a parrot.

What about personal responsibility? If you want to go to Gonzaga and pay $50k a year and are too stupid to find scholarships, then you should be riddled with debt your whole life.

Fuck off, shill.

@pawz likes personal responsibility except when he doesn't.

CuntWaffle

2001400ex said:

pawz said:

2001400ex said:

While I do agree the cost of college has escalated to a point of being fucktarded. (I paid $3,500 a year in the late 90s, good luck finding that now).

Most if the rest of your post is idiotic and something a poor uneducated person thinks. First, how the fuck is there a monopoly?

Then this is the unemployment rate, what group has the lowest unemployment? Is it the high school drop outs? Or the college educated folk? You can rail on liberal arts degrees but it looks like they have jobs.

Nobody is surprised that a) you don't understand basic, fundamental microeconomic concepts, and b) you're parroting the establishment line to keep people enslaved by debt.


#aclockworkshill

Ironic POTD. It's awesome watching someone ignore basic facts and tout the "liberal arts degree" rallying cry, then try to call someone else out for being a parrot.

What about personal responsibility? If you want to go to Gonzaga and pay $50k a year and are too stupid to find scholarships, then you should be riddled with debt your whole life.

whlinder

pawz said:

Going full circle, the article is suggesting if people are forced to spend their expendable-dollar on debt, they won't spend it in the economy - thus no economic growth.

It's not just spending expendable dollars on debt, it's spending expendable dollars on education instead of other consumer goods (or savings). I'm going to have to take {some large number, but my starting point is 50K/year} out of what I spend on fun shit and divert it to some college 5 years from now. College Administrator Welfare is not really the most efficient use of that money and it sure as fuck doesn't make me happy like hookers and blow do.

pawz

2001400ex said:

pawz said:

2001400ex said:

While I do agree the cost of college has escalated to a point of being fucktarded. (I paid $3,500 a year in the late 90s, good luck finding that now).

Most if the rest of your post is idiotic and something a poor uneducated person thinks. First, how the fuck is there a monopoly?

Then this is the unemployment rate, what group has the lowest unemployment? Is it the high school drop outs? Or the college educated folk? You can rail on liberal arts degrees but it looks like they have jobs.

Nobody is surprised that a) you don't understand basic, fundamental microeconomic concepts, and b) you're parroting the establishment line to keep people enslaved by debt.


#aclockworkshill

Ironic POTD. It's awesome watching someone ignore basic facts and tout the "liberal arts degree" rallying cry, then try to call someone else out for being a parrot.

What about personal responsibility? If you want to go to Gonzaga and pay $50k a year and are too stupid to find scholarships, then you should be riddled with debt your whole life.

Run along and let the grown-ups talk. You're in over your head, son.

2001400ex

pawz said:

2001400ex said:

pawz said:

2001400ex said:

While I do agree the cost of college has escalated to a point of being fucktarded. (I paid $3,500 a year in the late 90s, good luck finding that now).

Most if the rest of your post is idiotic and something a poor uneducated person thinks. First, how the fuck is there a monopoly?

Then this is the unemployment rate, what group has the lowest unemployment? Is it the high school drop outs? Or the college educated folk? You can rail on liberal arts degrees but it looks like they have jobs.

Nobody is surprised that a) you don't understand basic, fundamental microeconomic concepts, and b) you're parroting the establishment line to keep people enslaved by debt.


#aclockworkshill

Ironic POTD. It's awesome watching someone ignore basic facts and tout the "liberal arts degree" rallying cry, then try to call someone else out for being a parrot.

What about personal responsibility? If you want to go to Gonzaga and pay $50k a year and are too stupid to find scholarships, then you should be riddled with debt your whole life.

Run along and let the grown-ups talk. You're in over your head, son.

When you present a grown up argument, I'll recognize that. Until then you are a right wing parrot.

pawz

2001400ex said:

pawz said:

2001400ex said:

pawz said:

2001400ex said:

While I do agree the cost of college has escalated to a point of being fucktarded. (I paid $3,500 a year in the late 90s, good luck finding that now).

Most if the rest of your post is idiotic and something a poor uneducated person thinks. First, how the fuck is there a monopoly?

Then this is the unemployment rate, what group has the lowest unemployment? Is it the high school drop outs? Or the college educated folk? You can rail on liberal arts degrees but it looks like they have jobs.

Nobody is surprised that a) you don't understand basic, fundamental microeconomic concepts, and b) you're parroting the establishment line to keep people enslaved by debt.


#aclockworkshill

Ironic POTD. It's awesome watching someone ignore basic facts and tout the "liberal arts degree" rallying cry, then try to call someone else out for being a parrot.

What about personal responsibility? If you want to go to Gonzaga and pay $50k a year and are too stupid to find scholarships, then you should be riddled with debt your whole life.

Run along and let the grown-ups talk. You're in over your head, son.

When you present a grown up argument, I'll recognize that. Until then you are a right wing parrot.

sarksure.gif

2001400ex

pawz said:

2001400ex said:

pawz said:

2001400ex said:

pawz said:

2001400ex said:

While I do agree the cost of college has escalated to a point of being fucktarded. (I paid $3,500 a year in the late 90s, good luck finding that now).

Most if the rest of your post is idiotic and something a poor uneducated person thinks. First, how the fuck is there a monopoly?

Then this is the unemployment rate, what group has the lowest unemployment? Is it the high school drop outs? Or the college educated folk? You can rail on liberal arts degrees but it looks like they have jobs.

Nobody is surprised that a) you don't understand basic, fundamental microeconomic concepts, and b) you're parroting the establishment line to keep people enslaved by debt.


#aclockworkshill

Ironic POTD. It's awesome watching someone ignore basic facts and tout the "liberal arts degree" rallying cry, then try to call someone else out for being a parrot.

What about personal responsibility? If you want to go to Gonzaga and pay $50k a year and are too stupid to find scholarships, then you should be riddled with debt your whole life.

Run along and let the grown-ups talk. You're in over your head, son.

When you present a grown up argument, I'll recognize that. Until then you are a right wing parrot.

sarksure.gif

You had to edit that?