In many cases this is true, but until you have been cheated or know somebody who has been cheated by student loan companies, it is hard to pass any judgement.
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Future of Gen X/Y...
- Thread starter short&naked
- Start date
In many cases this is true, but until you have been cheated or know somebody who has been cheated by student loan companies, it is hard to pass any judgement.
Government = people representing people who voted for the people who represent, i.e. government is not a living creature, government can`t do shit!Quote from Scataphagos:
No, no no. It's the government who hosed it all up. It is the GOVERNMENT who bequeathed debt onto the next generation. I never heard a Boomer demand ANYTHING with the condition that it be charged to their kids and grandkids.
The boomer's self-indulgence in the 60's and 70's had nothing to do with financial anything. We were all broke then just like your are now. It's a function of youth and inexperience, not predatory design.
People actually are in charge, but only if they/we get their/our act together.Quote from Scataphagos:
The "government that matters" is the oligarchy in control. "We the people" do only a sham voting exercise.
Incumbents continue to be re-elected because we Americans are politically naive and stupid.
If I were you, I wouldn't lose any sleep about being "saddled with Boomer debts and expenses"... the system will blow up and bankrupt everybody before that happens.
Quote from PAPA ROACH:
What you fail to understand is the massive "financial engineering" of the past decade. I'll give one example:
A boat that used to sell for $20,000 on a 5 yr, 9% loan with a minimum of 10% down, turned into a boat that sells for $45,000 on a 5%, nothing down 20 year (yeah that's right, TWENTY-year) loan, making it "easily affordable with low monthly payments".
Now replicate that across a broad range of bigger ticket items and this is why this country is so FUCKED. It is a form of indentured servitude, and you really cannot blame everyone for participating as many in this country are not as intelligent as your circle of friends. Besides, this has gone on long enough to dupe even the intelligent into thinking it's ok as it appears to be the new norm. GAME OVER.
The ones left really holding the bag are the lenders that perpetrated the said engineering or rather sickening greed, and as soon as the masses figure this out, don't be suprised if there really is a large default en-masse.
I don't fail to understand anything :if you want to blame it on financial illiteracy and inability to delay gratification, count me wholly unsympathetic.
It's morally wrong to allow a sucker to keep his money.
W. C. Fields