Posted on 01/29/2024 3:04:18 AM PST by davikkm
The young probably struggle with getting the short end of the stick on education, more than anything.
It’s hard to use tools you don’t have.
Good news: There is a light at the. End of the tunnel.
Bad news: It’s a train.
Good one.
You’ve posted some good ideas there, but I’m afraid they don’t address the underlying flaw in our whole house of cards here in the U.S. What we’re seeing here is the inevitable consequence of living in an affluent nation that is filled with people who think they have a God-given right to enjoy a standard of living they: (1) can’t afford, and (2) don’t have to work for.
Debt Jubilee? It is after all an election year and politicians hardly look beyond the next election. Their thought process: Do whatever will get me over the finish line first, worry about the consequences later. Shift blame.
I do agree there is also a large entitlement and instant gratification mentality.
Many youth are very unhappy not being the “boss” or having the mansion at 22.
> degrees that never had a snowballs chance in hell of providing income to pay off these loans <
Part of the problem is that too many students never do their due diligence. But I’d rank ahead of that the shameless lying on the part of colleges. So if a naive 18 year old picks a worthless major, his advisor will tell him what a great choice that is.
Gotta keep up enrollment in those worthless departments.
And what of us who sacrificed to stay debt free and accrue our wealth?
Why should irresponsible people be forgiven large sums of debt and those who lived their life in a more sensible fashion, skimping and saving now foot their bill
NO!
I believe it to be more Mommy's fault than Daddy's.. Mommy is the one raising the kids nowadays, and feminism is the rule of the day. The "Utes" of today know far more about how to milk the government than how to earn a living..
Feminism, or mans lack of masculinism and responsibility to his family and country are going to be the ruin of this nation..
We all struggle.
Younger folks have to learn how to budget and stop impulse spending on themselves like we all did at some point in our lives.
True, and these bastions of liberalism, wokeness get their money up front and know the degrees are worthless.
Does not surprise me. Talked to more than a few Millenials who maintain their lifestyle by continuously shifting their balances from one credit card to another. That’s not a winning financial strategy.
Indeed, in the end much was said and little was done
But...but....Corporate Media says the economy is doing great.
Yep, My Son who is a logistics Eng now wanted to drop the Eng major his jr. year and go Business Admin ( he was finding Eng to be quite hard).
Long Story short I told him it was his choice but if he did I was taking the car (I bought a BMW 330xi for him to drive in college) and would not sign for any more loans.
LOL he is a Log Engineer now for a major company :) He is pretty happy now with his income and low debt!
That is the difference between Mom and Dad, she was ok with his changing majors, not wanting to be confrontational with him. My wonderful wife (being serious) just does not have the hard love capacity.
If the government eventually forgives the debt, maybe it is a ‘winning strategy’.
“We know people that are paying for their “kids” cell bills, insurance and they’re 28-30.”
Cell phone bills are particularly cheaper if handled in groups of 4 lines. Like making a meal for 4 or 6 is cheaper per plate than making a meal for 2. This is one item that because of marketing efforts is cheaper to be bought in the family plan. It is also the same with utility bills, half my energy bills are delivery and taxes on delivery and not consumption related. If a family compound is cheaper, why not stick with a tradition.
Health insurance is doing exactly what has been asked of us by federal regulators enforced by the IRS.
There is no way to fix our debt- ever. Unpayable. $$$ 34 trillion .Default is coming, question is when, two years? Five? Another decade?
The only answer is to keep your household free from debt, pay off cars, boats, house….the financial system knows cashless digital currency is coming, it will be proclaimed by .gov as the only way to save the financial system, and the masses will flock to it like the ineffective and dangerous vaxs…. Fear… fear of losing pensions, 401K’s, savings…the only question now is not how to make money, but how to keep what you have.
The last time this happened was in the late 70’s.
We are now in the worst of the worst.
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