Posted on 11/29/2012 6:46:35 AM PST by jmaroneps37
Well THAT didn’t take long. The confetti thrown on college campuses has barely been swept up after Barack Obama’s reelection and reality has smacked more of his children in the face.
This is happened faster than any of these fools could have imagined. You will recall that Obama’s union children at Hostess found out what real life is about last week. This week his college student children got their dose of cold truth.
The stroke across the student loan crowd’s face is the news that in the 3rd quarter the number of student loans in default has skyrocketed. Student loans …. delinquent … 90+ days and 30+ days have risen dramatically.
The amount of outstanding student loan debt has reached $956 billion having climbed $42 billion in just the last quarter alone.
Obviously the effects of a 53% underemployed/ unemployed rate among those graduating from college last May is taking hold of these young fools. Fully eleven percent of all student loans is delinquent for more than 90 days.
Probably very few of Obama’s college children, who have outstanding school loans, understand that they can NEVER walk away from their debt because it is NOT dischargeable in a bankruptcy, but they will soon find out.
How they expect to live a life of their own in a country that offers them no jobs but demands repayment for their useless degree is a mystery.
Worse still is that this report is, “likely to understate actual delinquency rates because almost half of these loans are currently in deferment, in grace periods or in forbearance and therefore temporarily not in the repayment cycle” according to Zerohedge.com.
The explanation goes on to say, “This implies that among loans in repayment cycle delinquency rate are roughly TWICE as high.”…
(Excerpt) Read more at coachisright.com ...
BUMP!!
Yeah - its ridiculous to see some of what gets posted.
The fact is that between low wages, boomers not leaving the job market, inflation, taxes, etc, the deck is really stacked against young people right now economics wise.
Discharging student loans in bankruptcy means you get to pick up the tab. Plus the rest of the taxpayers.
Oh we do have an idea about how it is in the economy now. Some of us have been screaming loudly about the path we are heading down as a country.
We’re just old fools, what do we know?
His show is barely one notch above porn, yet I've got all these "intellectuals" who send me clips from his show.
Did you know this perv actually has *kids*?
16 is an obama voter with mindset to blame it on someone/something else.
“So young, so ill-educated so lied to, so hopelessly stuck in mom’s basement. Wow all of this and not even 25 years old!”
Maybe they’ll learn to be “underground entrepreneurs”? Why work on-the-books and suffer wage garnishment, when they can start businesses that “make no money” and get paid under the table?
That’s probably the best solution for these folks, short of playing Powerball with money they steal out of their mom’s purse.
Well put, Prole. Well put.
We pick up the tab more if these students default, are saddled with judgments they can’t possibly pay, and cannot get decent work as a result. This, along with the huge losses caused by their unpaid and unpayable debts, will be a body blow to the economy that will dwarf the 2008 mortgage debacle. Besides, debt is debt. It’s just not right to have some kinds of debt undischargable (save for debt caused by willful torts like assault, etc.). Best to have them cut their losses now and be done with it.
Stewart is a real clown and another propagandist of the worst type.
Feeding all the wrong messages.
These morons are pretty much expecting the dims to forgive the debt anyway. So it doesn’t matter.
Stewart is a real clown and another propagandist of the worst type.
Feeding all the wrong messages.
Many of these young dopes don’t know any better. They are a product of high-tech marxist brainwashing and have literally no contrast in their lives otherwise.
Sitting there mocking these idiots, while entertaining and gratifying, is not going to improve this situation one bit.
Can anyone get on the debt forgiveness wagon? The idea of having spare money again is attractive.
Why not our entire debt as a nation? These interest payments are holding us back.
How would forgiving student loan debt help them get a job?
I have mocked no one. Yet.
Having a judgment levied against you is a real buzzkill for a prospective employer. They’d rather see a job applicant who extinguished a crushing debt in bankruptcy and is making a fresh start.
Yes - we all suffer from the dumbing down of the American voter who thinks they are educated. All according to design - start in the schools - don’t teach, indoctrinate.
This is the Elmo guy who had to quit because he was accused to chasing after boys.
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