Executive Order to forgive $50,000 in student debt

[pknopp]

The S&L thing did not crash the economy did it? Why is that?

Also, we prosecuted those (largely) involved in that unlike the 2008 debacle. Why was that?

Actually, it DID Crash the economy, it's why we had the 1991 Recession.

It didn't crash the economy. Neither would have the crash in 2008 if G/S hadn't been overturned.

 

[Bush92]

Democrats Plan $50,000 Of Student Loan Cancellation By Executive Order

Will your student loans get cancelled? It depends who you ask.

www.forbes.com

Congratulations US Taxpayer, looks like you will get to pick up the $50,000 tab of irresponsible college students and families who took on more debt than they could handle because they felt entitled to go to private elite colleges 3 time zones away and concentrate their studies in useless majors that have no demand in the job market. These students and families who feel entitled to this have the audacity to say they have been “enslaved” or victimized by student debt.

Moving forward, there needs to be more controls in place to qualify students and their families towards state and local institutions and concentrations of study that yield good paying jobs.

Check your race cards and class warfare bullshit at the door.

It's called "Marxism." Won't happen. Just more showboat shit to indoctrinate young leftist guppies.

 

[JoeB131]

Yes, that's the way it works in our society. You work all your life and then get back what you paid into the government in the end if you live long enough. If you don't, you paid all that money for nothing. Yep, socialism. It's not an optional program. When you work, you are mandated to be part of it.

That's not the system you advocate, buddy. You advocate a system where the rich get most of the profits of your labor and when you are no longer useful to them, they throw you aside for a younger guy who will work for less. Unless he's a Mexican, that really upsets you.

While I don't want to be repetitive, it makes no sense for a taxpayer to fund the education of a doctor, and when that taxpayer needs that doctor they paid to educate, gets charged $200.00 for a 20 minute office visit.

Sure it does. You aren't really paying for that doctor's education. You are paying for those ladies who figure out the insurance and billing, keeping the lights on in the office, all the equipment in the office designed to figure out what wrong with you. ("Nurse, he suffers a severe case of bitteroldwhiteguyitis! I'm afraid it's terminal." )

Now, I'd be all for free college and socialized medicine, so you don't have to pay $200.00. You get sick, you go in, get treated done and done.

 

[Bush92]

The S&L thing did not crash the economy did it? Why is that?

Also, we prosecuted those (largely) involved in that unlike the 2008 debacle. Why was that?

Actually, it DID Crash the economy, it's why we had the 1991 Recession.

I never though it but I agree with you.

 

[JoeB131]

It didn't crash the economy. Neither would have the crash in 2008 if G/S hadn't been overturned.

I'm going to assume like most Bernie Bros... you weren't around back then and saw what a shit storm the 1991 recession was. Otherwise you wouldn't say retarded shit like that.

I remember getting out of the Army in 1992, and the job market SUCKED.

 

[pknopp]

It didn't crash the economy. Neither would have the crash in 2008 if G/S hadn't been overturned.

I'm going to assume like most Bernie Bros... you weren't around back then and saw what a shit storm the 1991 recession was. Otherwise you wouldn't say retarded shit like that.

I remember getting out of the Army in 1992, and the job market SUCKED.

I was 30 years old and selling cars. It was nothing like 2008. Also....you skipped the part where people involved in the S&L mess actually went to prison.

 

[Bush92]

Yes, that's the way it works in our society. You work all your life and then get back what you paid into the government in the end if you live long enough. If you don't, you paid all that money for nothing. Yep, socialism. It's not an optional program. When you work, you are mandated to be part of it.

That's not the system you advocate, buddy. You advocate a system where the rich get most of the profits of your labor and when you are no longer useful to them, they throw you aside for a younger guy who will work for less. Unless he's a Mexican, that really upsets you.

While I don't want to be repetitive, it makes no sense for a taxpayer to fund the education of a doctor, and when that taxpayer needs that doctor they paid to educate, gets charged $200.00 for a 20 minute office visit.

Sure it does. You aren't really paying for that doctor's education. You are paying for those ladies who figure out the insurance and billing, keeping the lights on in the office, all the equipment in the office designed to figure out what wrong with you. ("Nurse, he suffers a severe case of bitteroldwhiteguyitis! I'm afraid it's terminal." )

Now, I'd be all for free college and socialized medicine, so you don't have to pay $200.00. You get sick, you go in, get treated done and done.

Now you just went back to your communist ways. You live in the greatest nation on earth with the best economic and educational opportunity in the world. Get a fucking job and pay for your famial responsibility. If the United is so bad economically than why are people wanting to immigrate here by the millions? If you are born in the United States and can't make-it without a government crutch of special treatment...FUCK YOU BUM.

 

[Bush92]

It didn't crash the economy. Neither would have the crash in 2008 if G/S hadn't been overturned.

I'm going to assume like most Bernie Bros... you weren't around back then and saw what a shit storm the 1991 recession was. Otherwise you wouldn't say retarded shit like that.

I remember getting out of the Army in 1992, and the job market SUCKED.

I went from Marines to employment in 5 days. No connections. Just me.

 

[Ray From Cleveland]

That's not the system you advocate, buddy. You advocate a system where the rich get most of the profits of your labor and when you are no longer useful to them, they throw you aside for a younger guy who will work for less. Unless he's a Mexican, that really upsets you.

I don't care if he's a Mexican, I care if he's an illegal Mexican.

Correct, when a company has no use for you, they get rid of you, just like when your company is useless to you, you get rid of them. So the trick is to continue to make your employer money and you won't have to worry about being replaced.

Sure it does. You aren't really paying for that doctor's education. You are paying for those ladies who figure out the insurance and billing, keeping the lights on in the office, all the equipment in the office designed to figure out what wrong with you. ("Nurse, he suffers a severe case of bitteroldwhiteguyitis! I'm afraid it's terminal." )

Now, I'd be all for free college and socialized medicine, so you don't have to pay $200.00. You get sick, you go in, get treated done and done.

Correct, you are paying for all that, but only the doctor is making the big bucks. I don't deny them the money they make. They paid for their education, was out of the workforce all the years it took them to become a doctor, they spent the best years of their life learning the profession while the rest of us were out partying and getting drunk. They deserve what they make. However that's part of the deal. it's an investment. Taxpayers should not be funding investments.

 

[JoeB131]

I was 30 years old and selling cars. It was nothing like 2008. Also....you skipped the part where people involved in the S&L mess actually went to prison.

I didn't skip it, it just wasn't important to the point I was making.

You had laws on the books, people broke the law and caused a recession.

 

[JoeB131]

I don't care if he's a Mexican, I care if he's an illegal Mexican.

Correct, when a company has no use for you, they get rid of you, just like when your company is useless to you, you get rid of them. So the trick is to continue to make your employer money and you won't have to worry about being replaced.

Well, given you are on welfare now, I guess that didn't work out.

Correct, you are paying for all that, but only the doctor is making the big bucks. I don't deny them the money they make. They paid for their education, was out of the workforce all the years it took them to become a doctor, they spent the best years of their life learning the profession while the rest of us were out partying and getting drunk. They deserve what they make. However that's part of the deal. it's an investment. Taxpayers should not be funding investments.

Actually, they should because our current system doesn't produce enough doctors, and we keep having to import them from India. I had one point where I had three different Doctors all named Patel.

 

[pknopp]

I was 30 years old and selling cars. It was nothing like 2008. Also....you skipped the part where people involved in the S&L mess actually went to prison.

I didn't skip it, it just wasn't important to the point I was making.

You had laws on the books, people broke the law and caused a recession.

And in 2008 they all skated.

 

[JoeB131]

And in 2008 they all skated.

yeah, kind of hard to prosecute them for doing exactly what we all wanted them to do.

"Aw, you loaned me money to buy that McMansion I couldn't afford and I didn't get out and flip it in time!!!"

So what was the crime here again?

 

[LeftofLeft]

I was 30 years old and selling cars. It was nothing like 2008. Also....you skipped the part where people involved in the S&L mess actually went to prison.

I didn't skip it, it just wasn't important to the point I was making.

You had laws on the books, people broke the law and caused a recession.

Giving mortgages to people who failed financial criteria and risk factors caused the recession.

 

[Ray From Cleveland]

My kids were never confused about any of this.

Are they in massive debt from college loans? If so, they were very confused about it. Anybody that thinks it out a little better wouldn't have massive education debt.

Well, the kids you seem to feel superior to know their balance before they get home. It's called technology.

Yes, I know technology. You have to sign into your bank if your internet and site is working. Then you have to type in your password and email. Some like my bank often won't allow you to sign in unless you answer an email or text with a special number they give you from time to time.

Me, I just take the receipt, deduct it from my balance, and I know what I have. When I get my bank statement, I go through each item to make sure my deductions match theirs. They are not infallible. Computers make mistakes too.

Nothing lazy about it. That you perceive it as such just shows how stuck you are in yesteryear.
Technology frees our time to pursue more substantive pursuits. I have no desire stay put in utilitarian tasks when it's not needed.

Technology is fine. I use it every day. But I use it for practical things.

My cards have been lifted. You pay at a restaurant and someone grabs your number. Happens every day. It's decidedly no big deal. Literally, 99 out of 100 times your bank will alter you this has happened. The security algorithms are so sophisticated that banks use today that they find use way before you ever could.
You never skip a beat even if someone grabs your card number.
You sound like you simply don't understand how things work... like you are scared of the dark, what you don't understand.
Not for nothing, $3,200 in cash was a big thing for your guy? I always keep cash around for stuff like this and have never had anyone blink. Car repairs, electricians, plumbers... many times.
Heck, I paid $20,000 in cash for an engagement dinner for my daughter and no one blinked an eye.

Also, how did you get a furnace replaced for $3,200? No such deals like that around here available.

It doesn't happen to me every day. In fact it's never happened once. The waitress can't get even get my name from the cash I use to pay for my meal. Yes, it is a disaster when somebody steals your identity. That's why companies like LifeLock have a business; to keep people from stealing your information, and it's a monthly fee to do it. Therefore it's obviously a big enough problem to pay a service like that.

The furnace was a pretty good deal, but I got his number from a friend who highly recommended him. He and his worker were here for two full days because of all the duct work that needed to be done. I don't know where you live at, but if you're in a blue state, everything is twice as expensive there as it is here.

 

[LeftofLeft]

And in 2008 they all skated.

yeah, kind of hard to prosecute them for doing exactly what we all wanted them to do.

"Aw, you loaned me money to buy that McMansion I couldn't afford and I didn't get out and flip it in time!!!"

So what was the crime here again?

The “flip” side are those that felt entitled to a McMansion in the name of equality (class envy) and failed to keep up with payments. Don’t bite off more than you can chew. Same with college loans.

 

[Ray From Cleveland]

Well, given you are on welfare now, I guess that didn't work out.

It worked out fine. My employer didn't want to lose me. Government put me out of a career for health issues. Not my fault. I tried everything to stay.

Actually, they should because our current system doesn't produce enough doctors, and we keep having to import them from India. I had one point where I had three different Doctors all named Patel.

We don't import people from anywhere. Many get their education here and don't go back once they become a doctor in the US. They can't make any money with their socialized healthcare system. It's low paying and the only people that go back are those who barely got by to be a doctor.

 

[JoeB131]

Giving mortgages to people who failed financial criteria and risk factors caused the recession.

.
Except that isn't what happened. It wasn't poor people buying houses that caused the 2008 crash, it was middle class people who thought they could buy a McMansion, hold on to it for a few years, and then watch it's value go up and sell out.

The “flip” side are those that felt entitled to a McMansion in the name of equality (class envy) and failed to keep up with payments. Don’t bite off more than you can chew. Same with college loans.

Except that much like the colleges who sell overpriced degrees, no one was interesting in building sensible bungalows in the Oughts or even now.

 

[noonereal]

Are they in massive debt from college loans?

My youngest, she went to a big name school on a full athletic scholarship. When she got out she had actually saved several thousand and put it in the bank! She is so cheap. Not only do athletes get everything paid for but they are given a small amount of cash for expenses too. She banked it. The perks she got were ridiculous.
My oldest daughter got her MBA from one of the countries best business schools. She just bought a million dollar home on her own so the debt incurred was well worth it.

Yes, I know technology. You have to sign into your bank if your internet and site is working. Then you have to type in your password and email. Some like my bank often won't allow you to sign in unless you answer an email or text with a special number they give you from time to time.

only the first time you sign in and use a new device
dude, you just don't want to change. You have all kinds of reasons to not change that are just not valid.

Yes, it is a disaster when somebody steals your identity.

Like I said, I have had my card numbers stolen a couple times and it took less than two minutes for me to get it squared away with the bank calling me and asking me to verify what were my charges and what were bogus.
Bam, over. No questions no charges, no problem.

Like I said, when we lived in a cash sociaty I was all in. Now, that just makes you old before your time.

in a blue state, everything is twice as expensive

I would never live in a red state, that is true. NEVER, NEVER, NEVER.

You are a nice guy, just stuck in the past. We are probably the same age but you are definitely old enough to be my father.

 

[Ray From Cleveland]

Except that isn't what happened. It wasn't poor people buying houses that caused the 2008 crash, it was middle class people who thought they could buy a McMansion, hold on to it for a few years, and then watch it's value go up and sell out.

It was the poor people that started the entire thing.

Bill Clinton wanted to address the poor and blacks not being able to get home loans due to bad credit, not large enough down payment, or both. So they lowered the federal guidelines that banks use to issue loans. You can't have one set of standards for blacks and poor, and another standard for everybody else, so they lowered the standards for everybody.

The blacks and poor were buying homes under 0% down with no credit check. This greatly increased the activity in the housing market. As supply and demand dictates, the less supply and more demand, the higher the price.

The middle-class and wealthy seen an opportunity, and they were going to get their piece of the pie. So yes, they bought houses to flip them and make 20% or more profit. The more homes and buildings they bought, the more money they made. Investors seen the opportunity to build homes for a large profit, and they built condos and erected new housing. It finally hit the wall.

Blame who you like because there is a lot of blame to go around, but the truth of the matter is this all started because the blacks and the poor were complaining to their politicians they couldn't get loans. If not for that, the standards would have never been lowered, and the bubble would have never taken place, which means the bubble burst could have never happened.