Consumer Credit – Worse Than You Think

Discussion in 'Economics' started by Banjo, May 12, 2012.

  1. Banjo


  2. Banjo


  3. “The reason student loan debt is exploding? Because the youth population is having difficulty finding work. Hardly a good reason for credit extension.”

    As opposed to youth who have a job.

    We have some youth with a HS diploma who are totally unsuited in any capacity to work (fired from McDonalds).

    How do we know this, many kids enter college and need remedial courses, math, english, volley ball and rock climbing. This takes care of first year loans after buying pajama's and pizza. This takes care of 13th grade.

    Now by 14th grade the girls in college are on their 2nd kid and just to pooped to pop for studying. The loan money is good but the classes require reading and writing, self motivation and who has time for that.
  4. I have a couple of kids with masters degrees and I can tell you how it works. Very little of the student loan goes to the university, the rest goes so they can go to school without having a real job, or even a partime job delivering pizza or waiting tables.

    They get a bachelors degree and don't like the pay so they go back and take out a loan to get a masters. The problem is, even with a masters the best job they can get is their old job but now with a whole lot more debt.

    The whole lure of student loans is another couple of years without working a real job (or even a part time job.)
  5. and furthermore, they go back to school and get a masters and get loaded up on debt and finally they get pregnant and say "Screw it, I just want to be a stay at home Mom. It's just like daddy always told me, a job really sucks."

    And I offered to bankroll them if they wanted to be traders and they said, "No, I don't want to spend my life being miserable like you."
  6. And I offered to bankroll them if they wanted to be traders and they said, "No, I don't want to spend my life being miserable like you."
    good story...:p
    My one daughter could have borrowed an extra 10k on student loan, my eyes lit up, I said, "go for it, we'll put it in the market and I'll cover half of your losses, you can quit any time. She would not do it.

    I made the portfolio up anyways and handed it to her so she could check it for herself.

    Harummp harumppp...

    to make a long story short she married a muslim and is now an expert on palestein and israel ( of course she flunk global studies in school and now in her adult like she is flunking real life global).

    Reminds me, maybe I should look her up some time.:eek:
  7. Was F*ckchop the Muslim?
  8. I got a Jewish daughter living in Israel, and another Jewish daughter in Mali married to a muslim. When we all get together the only thing they can agree on is we don't like it when Mom (the farmers daughter from Iowa) serves ham.
  9. 377OHMS



    When I go out on my jewish friend's yacht he always serves the same thing for lunch, a ham sandwich and a glass of milk. :D
  10. It aint that funny, when the Jewish side of the family would come over for dinner she would always serve a big ham and say, "I don't know what makes them think they are so special, they can eat ham like the rest of us, I'm not paying for a beef roast just because they think they are better than us."
    #10     May 13, 2012