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BIGTEX

STUDENT LOAN SCAM COMES HOME TO ROOST

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I have a Phd in economics but yet have no interest in working in hedge funds or finance. My interest in Economics was not getting rich. I felt that I had a unique viewpoint and could relate this to individuals who do not like or care about statistics or high end mathematics. However, Macroeconomics is not that dissimilar from astrology especially when trying to forecast more than a year ahead. 

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Just now, impartialobserver said:

I have a Phd in economics but yet have no interest in working in hedge funds or finance. My interest in Economics was not getting rich. I felt that I had a unique viewpoint and could relate this to individuals who do not like or care about statistics or high end mathematics. 

BIGTEX has NEVER met anyone who did not want to become "rich."

 

BIGTEX has met several people who SAID they did not want to become "rich," but . . .

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Just now, BIGTEX said:

BIGTEX has NEVER met anyone who did not want to become "rich."

 

BIGTEX has met several people who SAID they did not want to become "rich," but . . .

It is difficult to earn seven figures with an economics degree if you do not work in hedge funds, finance, wall street. It is what it is. My interest in Economics was not rooted in finance, stocks, bonds, etc. (ie, where the big money is)

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1 minute ago, impartialobserver said:

It is difficult to earn seven figures with an economics degree if you do not work in hedge funds, finance, wall street. It is what it is. My interest in Economics was not rooted in finance, stocks, bonds, etc. (ie, where the big money is)

BIGTEX commends you for not working in hedge funds or on Wall Street.

 

BIGTEX never understood why anyone would pay money to those folks,  who make money when you make money, but also make money when you lose money.

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1 minute ago, BIGTEX said:

BIGTEX commends you for not working in hedge funds or on Wall Street.

 

BIGTEX never understood why anyone would pay money to those folks,  who make money when you make money, but also make money when you lose money.

My interest was in wanting to know why less glamorous aspects of life were the way that they are. Stocks/bonds/wall street/hedge funds are important but most lower and middle class folks are only indirectly impacted by them. 

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Just now, impartialobserver said:

My interest was in wanting to know why less glamorous aspects of life were the way that they are. Stocks/bonds/wall street/hedge funds are important but most lower and middle class folks are only indirectly impacted by them. 

Studying why less glamorous aspects of life are the way they are should be easy.

 

Just get a list of everyone who votes for Dumbocrats and then interview them.

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12 minutes ago, BIGTEX said:

Studying why less glamorous aspects of life are the way they are should be easy.

 

Just get a list of everyone who votes for Dumbocrats and then interview them.

One of the topics that I covered at the end of grad school was why high speed rail (and other far reaching public transit efforts) is so expensive and in low demand in the U.S. Answer... not political in the least. Simple answer is that Americans (in every state) valued time/flexibility more than cute, warm/fuzzy narratives about saving the environment. It takes some serious knowledge of statistics to analyze the data and not get swayed. Interviews in this case are pointless... everyone will tell you what they think you want to hear. 

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3 minutes ago, impartialobserver said:

One of the topics that I covered at the end of grad school was why high speed rail (and other far reaching public transit efforts) is so expensive and in low demand in the U.S. Answer... not political in the least. Simple answer is that Americans (in every state) valued time/flexibility more than cute, warm/fuzzy narratives about saving the environment. It takes some serious knowledge of statistics to analyze the data and not get swayed. Interviews in this case are pointless... everyone will tell you what they think you want to hear. 

BIGTEX would say, statistically speaking, that you are correct.

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Just now, BIGTEX said:

BIGTEX would say, statistically speaking, that you are correct.

Even those in SF/Marin County who campaign the hardest for high speed rail. They could take public transit and yet opt to not. When asked, they give excuses about how they have this and that to do... Guess what.. So does everybody else.

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Is that the dark side of the capitalism? Teenagers are imposed to take part in the devil's circle. The gouvernment thinks that if the kids have a long road ahead, meaning that they are capable to return the money on a long period, they can make a profit out of it. I read about the Jews and how they took the control over the world - with the credit, and we all could make a fortune if using it corectly, but the stundents cannot invest these money, they end up with a lot of debts on her sholders and the worst part is that most of them end up working at McDonalds or some other low paid job. Fortunately, our finnish gouvernment thinks puts people in front of the money. I was a student and a never needed a loan, my job was enough to live a good life. I don't know how much is the interest rate in the US but here I return 7% , I took a loan the last year for the house from a credit company that I found on http://lainaailmanvakuuksia.fi . Come to study in Europe, we have very good universities here and life is cheaper.😉

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On 6/12/2019 at 7:02 AM, BIGTEX said:

The federal government is throwing TENS OF BILLIONS of dollars per year at eighteen-year-olds!

 

Kids who have never had to make a monthly payment for ANYTHING.

 

Mommy and daddy buy their clothes for them, pay for their cell phones, provide a roof over their heads, and provide generous allowances for pizza and burgers.

 

And, miraculously, at the ripe old age of 18, the federal government somehow thinks that these kids should be able to sign up for tens of thousands of dollars in student loans, which the kids (those who don't drop out of college) will use to obtain such useful, valuable degrees as "art history," "social work." "gender studies," "environmental racism," and "black culture."

 

Those degrees qualify them for employment as pizza deliverymen, Uber drivers, school crossing guards and laundrymen. 

 

And they can't repay their student loans.

 

The STUDENT LOAN SCAM must be STOPPED!

 

And, before you state it, NO, the student loan debt SHOULD NOT BE FORGIVEN.

 

BIGTEX should not have to pay for someone else's stupidity!

 

https://www.yahoo.com/finance/news/college-grad-flees-u-avoid-175101777.html

This is no different than two 20 year olds getting married and buying a $300, 000 house on an annual income of 60k....

 

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2 hours ago, VictoriaS2 said:

Is that the dark side of the capitalism? Teenagers are imposed to take part in the devil's circle. The gouvernment thinks that if the kids have a long road ahead, meaning that they are capable to return the money on a long period, they can make a profit out of it. I read about the Jews and how they took the control over the world - with the credit, and we all could make a fortune if using it corectly, but the stundents cannot invest these money, they end up with a lot of debts on her sholders and the worst part is that most of them end up working at McDonalds or some other low paid job. Fortunately, our finnish gouvernment thinks puts people in front of the money. I was a student and a never needed a loan, my job was enough to live a good life. I don't know how much is the interest rate in the US but here I return 7% , I took a loan the last year for the house from a credit company that I found on http://lainaailmanvakuuksia.fi . Come to study in Europe, we have very good universities here and life is cheaper.😉

Ya but then I have to wear faggy skinny jeans and be attracted to other men or get ostracized. 

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4 hours ago, VictoriaS2 said:

Is that the dark side of the capitalism? Teenagers are imposed to take part in the devil's circle. The gouvernment thinks that if the kids have a long road ahead, meaning that they are capable to return the money on a long period, they can make a profit out of it. I read about the Jews and how they took the control over the world - with the credit, and we all could make a fortune if using it corectly, but the stundents cannot invest these money, they end up with a lot of debts on her sholders and the worst part is that most of them end up working at McDonalds or some other low paid job. Fortunately, our finnish gouvernment thinks puts people in front of the money. I was a student and a never needed a loan, my job was enough to live a good life. I don't know how much is the interest rate in the US but here I return 7% , I took a loan the last year for the house from a credit company that I found on http://lainaailmanvakuuksia.fi . Come to study in Europe, we have very good universities here and life is cheaper.😉

The Jews did not take over the world.

 

Facts are facts.

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On 6/12/2019 at 8:05 AM, Skans said:

Just privatize student loans - no federal subsidies, insurance or programs, and treat it as ordinary debt for bankruptcy purposes.  This is all you have to do and, believe me, banks will make sure that the majority of the loans get repaid. 

Make the parents cosign.  

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1 hour ago, personreal said:

Make the parents cosign.  

That is what would ultimately be required to get such a loan, if student loans were privatized.  

 

I don't really care why someone feels the need to borrow money.  The rules/laws for borrowing and lending should be identical for all types of loans.   Car loans, house loans, student loans, loans for those who like to smoke tobacco in $100 bills.  

 

I do not mean that rates and lending requirements would be one-size fits all.   What I do mean is that the bankruptcy laws should be uniform across the board.  They should force lenders to think about the loan they are making, how they will get paid back, require them to make smart not stupid  loans, and consider the risks of default before they just dole out $$$$$.

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9 hours ago, Skans said:

That is what would ultimately be required to get such a loan, if student loans were privatized.  

 

I don't really care why someone feels the need to borrow money.  The rules/laws for borrowing and lending should be identical for all types of loans.   Car loans, house loans, student loans, loans for those who like to smoke tobacco in $100 bills.  

 

I do not mean that rates and lending requirements would be one-size fits all.   What I do mean is that the bankruptcy laws should be uniform across the board.  They should force lenders to think about the loan they are making, how they will get paid back, require them to make smart not stupid  loans, and consider the risks of default before they just dole out $$$$$.

Agreed...students loans have been promoted by the government just like the subprime housing loans...both are a financial catastrophe.  

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