Stop paying credit cards. Give yourself a bailout!!

[Sandybestdog]

Quote from Trader666: But since you brought it up, erosion in real wages means you should strive to get even more education.

Do you realize what you just said. You just admitted to my point. Real wages are going down. Which means, just as you say, more education is required to simply make the same amount of money. So after I get done with 4 years of school and take out thousands in student loans and finally get a decent job, maybe I can make the same amount of money I was making 5 years ago deliverying pizza. Now, I’m going to do that or something else that will hopefully make more money, but how long do you realistically think others will do the same? Nobody gets excited about working harder for the same or less while at the same time hearing of bailouts, bonuses for ceo’s whose company’s lost money and record profits for other company’s. So when they get paid less for doing the same thing, they have to turn to credit to pay for all those things that they used to make enough money to pay for.

BTW Of course everbody everybody knows higher educated people make more money. All your little chart told me was that the sky is in fact blue. Duh!

 

[Nickels&Dimes]

The powers that be are prepared to bury the system. Imagine millions of credit card holders not paying or being able to pay.

That is what the bankers believe will happen.

So charge em up. Light up those credit cards. If you don't have a lot of assets you don't have much to loose.

 

[Trader666]

Actually, you just admitted my point. Because if you understand that you need more education to make more money, you have no business claiming you've not been able to improve your financial situation "no matter what you try or how hard you work."

The simple fact is that you're not willing to do what it takes so you've made your bed and now you're sleeping in it. As I've told you before if you want to change that, you need to conform to reality... reality won't conform to you just because you whine about it.

Quote from Sandybestdog:

BTW Of course everbody everybody knows higher educated people make more money. All your little chart told me was that the sky is in fact blue. Duh!

 

[TraderZones]

Quote from firscall:

There's a gap in the market for web-site for Elite traders to congregate.

isn't that what the forum and chat is for? Unless you have invented a way for teleportation of ETers...

 

[maxpi]

Quote from Nickels&Dimes:

The powers that be are prepared to bury the system. Imagine millions of credit card holders not paying or being able to pay.

That is what the bankers believe will happen.

So charge em up. Light up those credit cards. If you don't have a lot of assets you don't have much to loose.

I have to imagine that lots of people will be doing that as they lose their jobs. In light of how our leadership does essentially the same thing on a much bigger scale I doubt many are going to have trouble rationalizing...

 

[Sandybestdog]

Quote from Trader666: Actually, you just admitted my point. Because if you understand that you need more education to make more money, you have no business claiming you've not been able to improve your financial situation "no matter what you try or how hard you work." The simple fact is that you're not willing to do what it takes so you've made your bed and now you're sleeping in it. As I've told you before if you want to change that, you naeed to conform to reality... reality won't conform to you just because you whine about it.

Like I said before, if education is the answer, why is it that we now have the highest percentage of college educated people, yet the economy is in the crapper? We all know now that the whole “economic boom” from 2003-2007 was simply borrowed money pumped in the system and the weak dollar. There really hasn’t been any economic growth in over 10 years. How is that possible? More college degress = bad economy and higher unemployment? Your logic doesn’t add up. Of course higher educated people will make more than others. But someone with a degree now, is probably only making what a high school grad working at a factory was making 20-30 years ago. How does your logic solve this fact? Again you want people to work harder for the same thing or less, which is not a long term viable solution to anything. And you probably wonder why people vote Democrat.

I asked a question twice now, and I haven’t gotten any answers yet. Why don’t you help me out. I am confused, so please feel free to explain. Here it is again.

Quote from Sandybestdog:
If there is $100 in the money supply, then banks can lend $1000 in loans. If they charge 20% interest, then a year later $1200 is owed. My question is, how are the borrowers supposed to pay back $1200 in loans, when there is only $1000 in the money supply?

 

[Trader666]

You said it was the answer yesterday... good luck Sandy, play out your lose-lose scenarios with someone else.

Of course everbody everybody knows higher educated people make more money.

Quote from Sandybestdog:

Like I said before, if education is the answer, why is it that we now have the highest percentage of college educated people, yet the economy is in the crapper?

 

[dirkd]

The more education you have the better of an overall mind you have. You increase your chances of a better paying job, merely by being an educated person. That doesn't mean you will receive more income only increases your chance. Regardless if you don't receive a penny more because of your education, no one can ever take your education away. Which, in my opinion, is worth more than anything else. Economic situation is temporary education is permanent.

 

[ElCubano]

Quote from dirkd:

The more education you have the better of an overall mind you have. You increase your chances of a better paying job, merely by being an educated person. That doesn't mean you will receive more income only increases your chance. Regardless if you don't receive a penny more because of your education, no one can ever take your education away. Which, in my opinion, is worth more than anything else. Economic situation is temporary education is permanent.

you are right...I've met some dumb rich mo-fo's and some smart poor boys. UF's libararies were full of some of the smartest people ( scholars ) I have ever spoken to and they had less than i did and i was a student...

"education is permanent"..that is true they could never take away PIKES hawiian parties or nickle beers from my memories....

 

[Scataphagos]

Quote from dirkd:

The more education you have the better of an overall mind you have. You increase your chances of a better paying job, merely by being an educated person. That doesn't mean you will receive more income only increases your chance. Regardless if you don't receive a penny more because of your education, no one can ever take your education away.

Well, if you have an advanced degree in say, Elizabethan Lit and it gets you a job teaching at a university paying more than you can make cleaning carpets... then it's perhaps worthwhile.

If not, then is the $150K debt you incurred to "become educated" worth it?

I have a friend who's 42 and a doctor... just this year got his college loans paid off. Imagine... being 42, an MD, and having virtually no money? What about the poor fools who incurred huge debt for college and make $40K (or less?) per year?