Fantastic... So people are borrowing money to pay for decreasing assets... This is how debt slavery begins and MANY never recover...
You will note that the number and size of student loans have been increasing dramatically over the last several years. As evidenced by Mini-ha-ha Warren’s latest MSM interview, she is pushing for reduction of the minimal interest rates and increasing the availability of related scams for not repaying the loans with the end result of forgiving the loans and sticking it to the taxpayers.
This is very sobering............to anyone with half a brain. Which doesn’t include Yellen or any of the dim bulbs that listen to and believe what she says.
On the bright side, perhaps it means America is finally telling the credit card bloodsuckers to go take a hike.
Still driving my 13 year old beater. I only have a 4 mile commute so I see no reason to go into debt for a new car.
The liberal education establishment is getting mighty fat from this inter-generational wealth transfer.
My theory is that a combination of over leveraged families, coupled with a real drop in household income along with inflation, has left families who basically live paycheck to paycheck, forcing their children to borrow up to their eyeballs to afford to go to college.
That is, families really no longer have the financial means to send their kids to college so the kids borrow it all and then end up with a lifetime of heavy debt... in an Obama economy with no jobs.
What a complete disaster, which most of them voted for I might add.
Student loans have got to be the biggest scam going - is the new sub-prime mess waiting to bust.
Where are the jobs?
Payroll taxes are at the highest they've every been. Too expensive to hire the inexperienced.
Anti-age discrimination laws bias hiring in favor of over-40 workers. Why hire a young worker when you might be sued by an older worker?
Those unemployed in their youth are going to become an entire generation that will be unemployable for the rest of their lives.
This may be of interest.
