If Biden's economy is so great...why can't folks pay off their student loans???

[sealybobo]

I'm against it because it's government trying to put a band-aid on a problem that government created, and Biden's approach doesn't solve the problem. Perhaps lower education should teach students the mechanics of compounding interest and other basic loan topics instead of gender identity, lgbt studies, and a slew of other useless subjects.

You're not going to get me to defend education. Yea it's a bit of a joke. But that's just for people like me who want to go to college and make something of ourselves but we aren't really good at math, science, computers, we don't want to be lawyers or doctors but we want to work in corporate America. In whatever department. Sales let's say. I wish they had a sales degree but they didn't. So yea a lot of college classes are fluff and bullshit but so what? What do you want from me? So they put me through math, science, social studies, electives, what are the other associate classes? Lots of topics. Sex ed. Whatever. Yea it was a lot of bullshit but I am a well rounded educated person who learned a lot about many things.

People who are good at math or finance or calculus should take those classes. People like me should be able to go to college even if we aren't bachelor of SCIENCE smart. I think my communication degree is a bachelor of arts? God it's been so long. I'm glad I went and I'm glad it was only $5000 a year back then or I wouldn't have been able to go. I would have just went to work for Art Van or sold cars or houses. I would have never got my foot in the door in corporate America.

 

[MarathonMike]

The economy sucks. It has for years.

The years since Biden took over have sucked massively. In two years I've seen the homeless population in my city explode. Same thing is happening all across the country due to Bidenflation and the immigrant tsunami.

 

[jotathought]

Companies use inflation to hike prices and generate huge profits, report says

The top 10 retailers have raked in $99 billion of profit last year, according to one corporate accountability group.

www.cbsnews.com

And

Kroger (NYSE: KR) is facing lawsuits from employees claiming that there have been discrepancies in their pay that left them without compensation or improperly paid following problems with the system that handles timekeeping and payroll.

kroger workers suing for pay - Google Search

Companies increase prices on a number of different factors including labor costs, supply chain, transportation, fuel, fees, increased taxes, etc .. as well as the demand for the companies product and services. Any costs increased by downstream services and supplies are cascaded and additional costs are passed to the consumer. Sorry .. not buying your gouging scenario.

Pay discrepancies are internal problems for an organization and are irrelevant to the value of a job .. what do you consider a good, average wage for a grocery store worker?

 

[sealybobo]

Many times it's the wholesalers and suppliers doing the gouging and the stores simply have to follow suit if they want to make retail profit. No choice. The government is enabling all of this.

Can't go by today's news I guess the market took a dump

Kroger Co. stock falls Friday, still outperforms market

Shares of Kroger Co. slid 0.36% to $43.75 Friday, on what proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index...

www.marketwatch.com

Kroger gross profit for the twelve months ending October 31, 2022 was $31.531B, a 4.87% increase year-over-year. Kroger annual gross profit for 2022 was $30.349B

They're doing pretty good.

Profits and the pandemic: As shareholder wealth soared, workers were left behind | Brookings

Over the past two years, the COVID-19 pandemic has presented the country’s leading companies with a historic opportunity to reverse the decades-long trends of widening inequality and shareholder primacy, making change for workers seem possible. The pandemic shifted public sentiment about what...

www.brookings.edu

 

[sealybobo]

Companies increase prices on a number of different factors including labor costs, supply chain, transportation, fuel, fees, increased taxes, etc .. as well as the demand for the companies product and services. Any costs increased by downstream services and supplies are cascaded and additional costs are passed to the consumer. Sorry .. not buying your gouging scenario.

Pay discrepancies are internal problems for an organization and are irrelevant to the value of a job .. what do you consider a good, average wage for a grocery store worker?

The thing I sell, went up 5%. Did their costs go up 5%? Probably not. It'd been awhile since they raised their prices and everyone else was raising prices so so did they July last year.

I looked at it this way. It's going to be 5% easier to get to my sales goal now that prices went up. As long as people keep buying, and they have.

 

[jotathought]

You're not going to get me to defend education. Yea it's a bit of a joke. But that's just for people like me who want to go to college and make something of ourselves but we aren't really good at math, science, computers, we don't want to be lawyers or doctors but we want to work in corporate America. In whatever department. Sales let's say. I wish they had a sales degree but they didn't. So yea a lot of college classes are fluff and bullshit but so what? What do you want from me? So they put me through math, science, social studies, electives, what are the other associate classes? Lots of topics. Sex ed. Whatever. Yea it was a lot of bullshit but I am a well rounded educated person who learned a lot about many things.

People who are good at math or finance or calculus should take those classes. People like me should be able to go to college even if we aren't bachelor of SCIENCE smart. I think my communication degree is a bachelor of arts? God it's been so long. I'm glad I went and I'm glad it was only $5000 a year back then or I wouldn't have been able to go. I would have just went to work for Art Van or sold cars or houses. I would have never got my foot in the door in corporate America.

Educational expenses have sky rocketed because government made college tuition easy to fund, increased the demand to attend, created policies that promote DEI and the unintended consequences created by the perfect storm. Giving students $20K based on eligibility doesn't solve the problem, and more kids will end up in the same spot in the upcoming years.

As a side note .. Math isn't just about learning 2+2 = 4. Math focuses on how to solve problems and promotes critical thinking -- basic skills everyone should have.

 

[sealybobo]

Companies increase prices on a number of different factors including labor costs, supply chain, transportation, fuel, fees, increased taxes, etc .. as well as the demand for the companies product and services. Any costs increased by downstream services and supplies are cascaded and additional costs are passed to the consumer. Sorry .. not buying your gouging scenario.

Pay discrepancies are internal problems for an organization and are irrelevant to the value of a job .. what do you consider a good, average wage for a grocery store worker?

Remember when America was great? My aunt worked at Farmer Jacks. Remember that Grocery Store from the 1970's? Or A & P? My aunt was a single mom and she was able to raise those two kids by herself working there. Then slowly they started lowering the pay. She was forced to go find something else. She became a court reporter then landed a cush secretarial job for the city and she made a nice living for herself. But at one time Farmer Jacks and those kinds of stores paid a decent wage. Today they don't. Or maybe they do now if they are paying $22hr. That seems fair. Actually $15-$22 hr depending.

 

[sealybobo]

Educational expenses have sky rocketed because government made college tuition easy to fund, increased the demand to attend, created policies that promote DEI and the unintended consequences created by the perfect storm. Giving students $20K based on eligibility doesn't solve the problem, and more kids will end up in the same spot in the upcoming years.

As a side note .. Math isn't just about learning 2+2 = 4. Math focuses on how to solve problems and promotes critical thinking -- basic skills everyone should have.

I know but I'm bad at it. And today the only math I need to know is percentages. If I get 60% off and I give 20% off, how much do I make? That's it!

P.S. I bet learning an instrument also focuses on how to solve problems and promotes critical thinking too. Basic skills everyone should have. Can you play a guitar? I can.

 

[Toddsterpatriot]

If you look at student loans and how much those kids have to pay. And if you take into affect most of the people who will get this money are making less than $75K. How about that? A lot of them are making less than $75K.

And I think they only get $10K forgiven or something like that. Not all of it.

It's insane how much they have to pay. They will

1. Never save enough for retirement
2. Have children and that's becoming a problem. Biden's solution will help fix that problem.
3. Never be able to afford to own a home

Are you pro middle class? This student loan forgiveness thing was very pro middle class. Of course the Supreme's are going to strike it down. And of course Republicans are against it.

I was against it at first too but then I educated myself.

They took out huge student loans and they make less than $75K?
Why did the government enable their foolish choices?

 

[Toddsterpatriot]

Not if you own a Grocery Store. They're gouging you and not paying their employees very well.

How much has their COGS increased?

 

[Toddsterpatriot]

They aren't useless. Having a bachelor degree is worth $1 million dollars. We make $1 million more over 30 years than people who do not have degrees. How much more is that a year? $33,000 more a year.

That's even true for me and all I got was a major in communications with a minor in marketing. Still I got jobs I wouldn't have got without having a degree. I didn't have any experience. It opens doors.

Why? Because HR managers went to college. So they respect a person who also went to college.

They aren't useless. Having a bachelor degree is worth $1 million dollars. We make $1 million more over 30 years than people who do not have degrees. How much more is that a year? $33,000 more a year.

$33,000 more a year? Then they can pay off their damn student loans.

 

[candycorn]

I'm reading this article about the Supreme Court deciding on Biden's loan forgiveness overreach.

The article paints a pretty bleak picture of the economy...yet all the liberals on here keep saying the economy is like the best ever, never been better.

If the economy is the best ever...why do people who took out loans to get the education to land great jobs in the great economy need loan forgiveness?

If the economy sucks...why are Biden, his administration, the media and the libs lying through their collective teeth about it?

You can't have it both ways.

---

What Would Happen If the Supreme Court Blocks Student Loan Forgiveness?

If the Supreme Court strikes down student loan forgiveness, borrowers would have to repay debts while facing more financial pressures than before the pandemic.

www.investopedia.com

.yet all the liberals on here keep saying the economy is like the best ever, never been better.

Any quotes from "all the liberals" or are you lying?

You can't have it both ways.

 

[jotathought]

Can't go by today's news I guess the market took a dump

Kroger Co. stock falls Friday, still outperforms market

Shares of Kroger Co. slid 0.36% to $43.75 Friday, on what proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index...

www.marketwatch.com

Kroger gross profit for the twelve months ending October 31, 2022 was $31.531B, a 4.87% increase year-over-year. Kroger annual gross profit for 2022 was $30.349B

They're doing pretty good.

Profits and the pandemic: As shareholder wealth soared, workers were left behind | Brookings

Over the past two years, the COVID-19 pandemic has presented the country’s leading companies with a historic opportunity to reverse the decades-long trends of widening inequality and shareholder primacy, making change for workers seem possible. The pandemic shifted public sentiment about what...

www.brookings.edu

Looking at Kroger's net profit ending October 31, 2022, it was $398 million, a 17.6% decline year-over-year. Your brookings.edu link is comical, especially when it discusses low-skill laborers not making a livable wage or income inequality (which is just a fancy way to say equitable income for everyone).

 

[Baron Von Murderpaws]

If Biden's economy is so great...why can't folks pay off their student loans???​

WHY is rent increasing by the HUNDREDS of dollars, forcing people to live on the streets?
WHY is the cost of food constantly been doubling every three months since he has been in office?
WHY have wages been CUT?
WHY has taxes doubled??
WHY is gas so expensive?

WHY was Trump able to stablize this country, our economy, wages, healthcare, and food/gas prices to the lowest they've been since the early 1990's, yet Biden has made it impossible to even pay rent and buy they CHEAPEST of foods that nobody can afford anymore?

 

[Concerned American]

If Biden's economy is so great...why can't folks pay off their student loans???​

WHY is rent increasing by the HUNDREDS of dollars, forcing people to live on the streets?
WHY is the cost of food constantly been doubling every three months since he has been in office?
WHY have wages been CUT?
WHY has taxes doubled??
WHY is gas so expensive?

WHY was Trump able to stablize this country, our economy, wages, healthcare, and food/gas prices to the lowest they've been since the early 1990's, yet Biden has made it impossible to even pay rent and buy they CHEAPEST of foods that nobody can afford anymore?

Why ask why? Biden.

 

[sealybobo]

They took out huge student loans and they make less than $75K?
Why did the government enable their foolish choices?

You don't know how much you're going to make when you're going to college. All you're told it should be worth about $33,000 more a year than people without degrees make and that actually is still true even today.

Not good workers, don't show up early or stay late, etc. Not everyone who gets a degree deserves to make a lot of money you know. A degree is just one check box on the resume. How you interview is important too. So is who you know. A lot of people get jobs because they know someone at the company.

The average person in America makes $50K. So it makes sense the people who benefit from Biden's plan mostly are people who make $75k or less. That's $25,000 more than the average workers. Over 30 years that's $750,000. So these are people who college didn't really pay off like it should have. They didn't do anything with their History Degree or Art Degree. Anyways, this is who Biden wanted to help. I really love this. **** poor people and **** rich people. Biden is a middle class first president that's for sure.

 

[sealybobo]

If Biden's economy is so great...why can't folks pay off their student loans???​

WHY is rent increasing by the HUNDREDS of dollars, forcing people to live on the streets?
WHY is the cost of food constantly been doubling every three months since he has been in office?
WHY have wages been CUT?
WHY has taxes doubled??
WHY is gas so expensive?

WHY was Trump able to stablize this country, our economy, wages, healthcare, and food/gas prices to the lowest they've been since the early 1990's, yet Biden has made it impossible to even pay rent and buy they CHEAPEST of foods that nobody can afford anymore?

Obama handed Trump a dream economy. Running perfectly. Trump passes a big tax cut for EVERYONE (which caused our current inflation too btw) and he got a very minor bump in the numbers. But claimed it was the greatest economy every.

Trump shouldn't have given away all those tax breaks for that very minor bump.

I think in 2019 Trump had 2.3% GDP. He mocked Obama when he had 2.2% and he said he would have over 3, 4 or 5 possibly 6% gdp.

He had .1% better. After that massive tax break he gave, which caused inflation and debt. Way to go loser.

 

[jotathought]

Remember when America was great? My aunt worked at Farmer Jacks. Remember that Grocery Store from the 1970's? Or A & P? My aunt was a single mom and she was able to raise those two kids by herself working there. Then slowly they started lowering the pay. She was forced to go find something else. She became a court reporter then landed a cush secretarial job for the city and she made a nice living for herself. But at one time Farmer Jacks and those kinds of stores paid a decent wage. Today they don't. Or maybe they do now if they are paying $22hr. That seems fair. Actually $15-$22 hr depending.

Why do individuals feel that every job should produce a liveable wage? As an example, McDonalds .. "in the old days" ... created jobs specifically for the high-school teenager to earn a few dollars .. today .. employees demand a liveable wage (whatever that is) for doing the same job of flipping burgers or running a cash register. Why is this unskilled role income equivalent to skilled trades such as a welders ($21/hr avg), electricians ($22.50/hr avg) or plumbers ($28/hr avg)?

Liveable wage is such an ambiguous phrase used to complain about wages, and today's $15 - $22 / hour will quickly become a "non-livable wage" for the upcoming years.

 

[LeftofLeft]

People can’t pay off their student loans because they took on a loan that was egregious and because of predatory lenders (schools, government) that hand it out easier than banks do for lesser small business loans. Students and their families need to be smart about loans by cutting costs and going to local state schools and majoring in fields for which their are jobs and jobs that pay well. Stop taking out $150k-$200k loans to go three time zones away to private schools and get bullshit majors for which there is no market.

 

[Toddsterpatriot]

The thing I sell, went up 5%. Did their costs go up 5%? Probably not. It'd been awhile since they raised their prices and everyone else was raising prices so so did they July last year.

I looked at it this way. It's going to be 5% easier to get to my sales goal now that prices went up. As long as people keep buying, and they have.

FY ending 1/2020, their cost of revenue was 77.93% of revenue.
FY ending 1/2021, their cost of revenue was 76.68% of revenue.
FY ending 2022, their cost of revenue was 77.99% of revenue.
TTM, their cost of revenue was 78.47% of revenue.

Where does that show gouging?