We need the middle class to be debt slaves perpetually.

[zdreg]

Quote from noob_trad3r:

More insult to injury.

http://bottomline.msnbc.msn.com/_ne...-student-loans-a-debt-bomb-waiting-to-explode

1T college debt bubble, students cant get jobs that pay well enough to erode the debts fast enough.

no need to worry. obama will bail them in exchange for supporting his lefty agenda. it is a done deal as these students enjoy the slacker life at the taxpayer's expense. a lot of these students are barely literate.

 

[nutmeg]

Quote from noob_trad3r:

1T college debt bubble, students cant get jobs that pay well enough to erode the debts fast enough.

This is easily solved. First, take a low paying job, take an earned income credit get a tax refund even tough you paid no income tax, the IRS snags the refund to pay for the unpaid loan balance.

Win win.

 

[rew]

Quote from zdreg:

it is all part of obama's socialist plan to make Americans dependent on the government.

Except that the Republicans are perfectly happy with the process as well.

 

[cyoungmark]

To be honest there will always to "structural" problems in the U.S. as long as we stay anything other than a socialist based economy/policies.

 

[clacy]

Quote from cyoungmark:

To be honest there will always to "structural" problems in the U.S. as long as we stay anything other than a socialist based economy/policies.

Yes, because as the EU is proving, socialism is a perfect system.

 

[cyoungmark]

Quote from clacy:

Yes, because as the EU is proving, socialism is a perfect system.

Haha I am in no way advocating a socialist system.

 

[cactus_trader]

Quote from BlueTurtle:




M3 in the driveway while Monday's gf sleeps.

my fav car I have ever owned, e46m3 convertible. it was an 2002, man do I miss that car. the memories were great

 

[RewriteQuran]

“Politics is the art by which politicians get money from the rich and votes from the poor on the pretext of protecting each from the other.” -- Oscar Ameringer

 

[Good1]

THIS YouTube presentation talks about "money as debt", and shows how the banking system works. The most notable thing about it is that while it used to be that loans were based on how much gold was in reserve at a ratio of 9 dollars lent to one dollar in reserve(9:1 fix-fractional lending), the system gradually morphed to where money is created when someone signs on the dotted line to owe X dollars over Y time. When that loan is paid back, the money is uncreated. Another interesting tidbit is that for a reserve of about $1000, typically $100,000 will be created through these loans. So perpetual debt is more or less built-in to the system, especially when you consider that the US goes into debt just to get dollars printed up.

 

[Good1]

THIS four minute video from PositiveMoney.com explains it briefly and clearly.