The Goat Pen

I'm more worried about High School loonies and spurned Vets committing mass killings here in America than I am some towel head.

crashcourse wrote:
but does any of that really make a difference to mid or coastal America? get me a president who will bring back a strong middle class of America where 50% of America isn't taking care of the other 50% and where the bottom 20% deals with crime either as a victim or a perpetrator. spend all your assets tightening our borders, balancing our budgets, fixing social security before it busts the budget, educating our kids and building a strong middle class. instead all we talk about in this country politically is isis and white cops

all of that happens when a kid graduating high school can make a living wage within 5-7 years.

there will never be a strong middle class if the barrier to entry is so high that it costs $70K in education loans to get there.

We create an economy that cranks out low paying service sector jobs and then wonder why the middle class is eroding - telling the masses that are entering into that they must have a better work ethic and pick themselves up by their boot straps because they owe it to the people who are working. Trickle down has created a wealth gap in this country that won't reverse the current trend until we accept that many, many of the next generation will not be engineers, scientists or lawyers.

The result will be a Bernie Sanders solution where those wealthiest people that were supposed to be creating jobs will be taxed at a 60% rate

yeah education loans are big business
hell banks these days are just annihilating you with costs double atm fees, account fees, monthly charges
every servuice out there be cable tv or cell phone bill has line after line of mystery charges
medical bills literally are thousands of dollars for a 45 minute test or visit with a specialist or having to go to an ER

once you get fed up with it its so easy to say fuck it im going to the poor side--those fuckers don't have to work and they drive better cars then I do

"there will never be a strong middle class if the barrier to entry is so high that it costs $70K in education loans to get there."

There is no such barrier. If a low income kid has $70K in loans after he graduates then he was ill-advised on college, major ,etc. With no scholarships, you can attend Community college your first two years at $4k a year and finish the other two at the local state university for $8k a year. He can work part time to pay half of that.

The problem is that too many lower income kids have chosen majors that have no chance of earning enough to justify the cost. I am baffled that the Culinary school here in town that charges $25K a year is packed with students who when they get out will be short ordered cooks.

sardis wrote:"there will never be a strong middle class if the barrier to entry is so high that it costs $70K in education loans to get there."

There is no such barrier. If a low income kid has $70K in loans after he graduates then he was ill-advised on college, major ,etc. With no scholarships, you can attend Community college your first two years at $4k a year and finish the other two at the local state university for $8k a year. He can work part time to pay half of that.

The problem is that too many lower income kids have chosen majors that have no chance of earning enough to justify the cost. I am baffled that the Culinary school here in town that charges $25K a year is packed with students who when they get out will be short ordered cooks.

that's not the problem at all. the problem is that only 30% of those masses of kids even try to go college. The remaining 70% try to figure out how to be middle class by learning a trade, driving a truck or working some job that will keep them perpetually poor.

While there are all kinds of stories about the kid with the psychology degree working as the assistant manager at Jimmy Johns, its the 18 employees under him that will never see 40K a year until they are in their late 30's - and that's if they are lucky - that's keeping our country from prospering

As long as I prosper, I don't give a fuck who else prospers...

That is the most American thing I've seen posted here in ages.

Don't forget. He's retarded.

America

Damn, that guy in the convenience store video just used the Paul Jones football tackle on the perp. I never thought anyone but Paul Jones and football players did that.

[tweet]680789930482778113[/tweet]

We can fix this Bernie. Home and auto rates are lower because a car can be repossessed, a home can be foreclosed on, but unfortunately there is no asset that can be reclaimed when Susie defaults on her college loan. So, lets make rates lower, to make this happen all we really have to do is sell Susie into indentured servitude to the bank if she defaults. Problem solved!

Still, that risk is priced in to the rate way too high...especially considering how current laws are structured around letting banks go after assets.

Bklyn wrote:Still, that risk is priced in to the rate way too high...especially considering how current laws are structured around letting banks go after assets.

I thonk the reasoning is because the average borrower is sooo high risk with no assets to seize. I have investments. You do, too. Would you lend $200,000 of your own money to a 20-year-old so he could go to school for an apr of 4.5%?

I actually don't remember my loans having so high of a rate. It seems like the federally guaranteed portion was really low (like under 4) and the rest was 5ish in the early 2000s.

AlabamAlum wrote:

Bklyn wrote:Still, that risk is priced in to the rate way too high...especially considering how current laws are structured around letting banks go after assets.

I thonk the reasoning is because the average borrower is sooo high risk with no assets to seize. I have investments. You do, too. Would you lend $200,000 of your own money to a 20-year-old so he could go to school for an apr of 4.5%?

Good point. I still say 8 - 9% is too high.

Bklyn wrote:

AlabamAlum wrote:

Bklyn wrote:Still, that risk is priced in to the rate way too high...especially considering how current laws are structured around letting banks go after assets.

I thonk the reasoning is because the average borrower is sooo high risk with no assets to seize. I have investments. You do, too. Would you lend $200,000 of your own money to a 20-year-old so he could go to school for an apr of 4.5%?

Good point. I still say 8 - 9% is too high.

Maybe set a limit? No more than prime x2?

Bernie seems to be running on a more articulated version of "Rent too damn high." But I agree with him and that other guy.

Don't question capitalism...

AlabamAlum wrote:
Maybe set a limit? No more than prime x2?

That actually sounds reasonable. Two days and we solved a major problem. The sad part is, if we were on The Hill, the banks would keep that proposal from ever coming out of committee.