Sallie Mae Credit Cards Poor Decision

[armstrongsubero]

@videogamesrock

If you're saying bankrupcy is the answer to debt, then you clearly have issues. Do you know what bankrupcy does to someone? A bankrupt 27 or 30 year old has just drastically eliminated their chances of owning a house and from what I inderstand, its difficult to declare bankrupcy on student loans.

I'm fully aware of how goverment borrowing works and yes it does directly impact the private sector rates, Here have a read mr 'No No No' :-D

https://www.economicshelp.org/blog/1504/...rrowing-2/

And also basic economics, what happens if the central bank keeps printing more money?

Business debt is different than PERSONAL debt, know the difference. Thats business 101, hence the reason for LLCs and what not. If you are taking out personal debt for business purposes then you have a lot to learn about business else you may lose your house, car and alll its contents if things go south.

The job of the goverment is to manage the country and its affairs. Everyone thinks managers are useless. Google did an experiment and guess what their findings are, people need managers. A country is nothing more than a business. Without goverment intervention in many things, only chaos would exist.

We all agree the K-12 system fails. People are coming out of high school not knowing about basic math. 12 year olds don't care about financial education, its just another test to them, they'd rather play on their X-Box and forget everything they learnt. I was watching a documentry where for manufactring jobs they cant find candiates bacause K-12 system grads dont have the basic math, reading and science skills expected which has to be done via employer training after they leave school.

Well in the ebola program the people were failing to admit there was a problem, they were saying nothing is wrong with the current system of them eating bats even though it was giving them ebola. Same thing with the student debt problem that you all are saying is not one.
The systems in place you guys have are failing and no one wants to admit it.

Yes holy crap is a good phrase. I keep my stance these banks and financial institutions are like pedophiles. Preying on these kids who really dont know better. Dosent matter if the kids consent and willingly sign away their lives to the banks, these kids are ignorant and the banks are taking advantage of it.

Yes they DO ruin families.

Banks preying on kids causes them to be in debt which causes them to default giving them bad credit, meaning they cannot buy a house and start a family.

If they go into bankrupcy like you say then they will have near eternal ruined credit and cant buy a house and start a family.

If they do get married then both parties would have a mountain of student loan debt and credit card debt raking up interest. And guess what? They will never have enough money and constantly argue and get divorced. Your culture is based on 'keeping up with the Jonses' buying things you dont need with money you dont have to impress people you dont care about.

Spare me the economics readings, take a look at how goverment borrowing affects private sector interest rates, that economics 201. And we all know the problems of capatalism and what not. I study economics in my spare time cause my hero Elon Musk did....thanks for the suggestion though.


Ahhhh the full potential postulate.

Well the problem with such an economy is that it is dependent on their being a market. What happens in a case of surplus? Or with massive layoffs due to automation? Both of which will occur very soon and is already beginning.

Automation and AI means businesses can produce more with less people...which due to being unrestricted creates a surplus of goods and services which due to massive layoffs means less people can afford these goods and services, which will lead to economic stagnation and decline.

Supply and demand yeah?

Well the solution is UBI to keep the economy running which we all know is unsustainable. Giving people UBI then taxing them on it makes no sense. Of course you could eliminate tax bit how will govetment services get funded?

There needs to be regulation on businesses and trade, to ensure the economy runs. There needs to be a compromise.

Well keep dishing out loans and credit cards to 18 year olds. I know how that cookie will crumble.