Economy 52,981 Posted May 1, 2015 Share Posted May 1, 2015 http://www.bloomberg.com/news/articles/2015-04-30/how-student-loans-could-cripple-the-u-s-economy A few experts warn the biggest threat to the US economy isnt Government debt (which on a relative basis to size of population and economy is not as large as some people think), or terrorism, or energy security (especially with North American energy boom now) The biggest thread is student debt which is ballooning now at $1.2 Trillion. The reason its rising so quickly is because tuitions have risen a lot at the same time that the economy still lags despite recent improvement. Young people take out lots of money in loans for tuition, but then cant find work to pay it off and are stuck carrying that debt around for years This has major long term implications including:- Delayed household formation (finding a mate to settledown and having kids)- Less consumer spending as they deal with debt over-hang- Lower savings rates for things like retirement- Could also cause the housing market to stall for many years because the younger generation simply wont be capable of putting down payments required to buy a house... few first time home buyers = low demand and low construction Link to post Share on other sites More sharing options...
Dangerous Man 9,245 Posted May 1, 2015 Share Posted May 1, 2015 Welp. Finishing college =/= jobAt least that's the case here. There are even undergraduates who are more successful than the ones who graduated. I guess they are the real WISE people.The case might be different if you graduated from prestigious uni here tho. "A little less conversation and a little more touch my body." Link to post Share on other sites More sharing options...
Supersonic 49,376 Posted May 1, 2015 Share Posted May 1, 2015 Water is wet. There are thousands of articles and scientific studies on that but baby boomers in the US are still like "GO GET A JOB, WHEN I WAS YOUR AGE I PAID MY TUITON MYSELF AND BUILD SEVENTEEN HOUSES WHILE WRITING A HIT SINGLE THAT GOT A PLATINUM CERTIFICATION"Some people will NEVER ever be able to back the fees for their education in their ENTIRE life. Link to post Share on other sites More sharing options...
Gagaloo911 12,959 Posted May 1, 2015 Share Posted May 1, 2015 I am one of those who is graduating with student debt Two weeks and then I have to go make it in the real world Link to post Share on other sites More sharing options...
Morphine Prince 109,780 Posted May 1, 2015 Share Posted May 1, 2015 My generation is doomed. I don't have debt but I know many that do. Link to post Share on other sites More sharing options...
hausofmike 127 Posted May 2, 2015 Share Posted May 2, 2015 100k in debt yall. Life's a b---h. Link to post Share on other sites More sharing options...
Whispering 18,865 Posted May 2, 2015 Share Posted May 2, 2015 Get scholarships, work during college, go to your local community college, go to the college that offers you the most money, take as many classes during the summer before and during college at your local community college, get internships during the summers, and take as many AP classes as possible! Borrow as little as possible! Link to post Share on other sites More sharing options...
Computer 10,980 Posted May 2, 2015 Share Posted May 2, 2015 This is depressing and true. What is the point of trying, for most people graduating now? Starting your life late and in debt that you can never recover from. Also it's not like a mortgage, you can't sell your education back like you can with a house. And it's one of the few types of debt you can't cancel with a bankruptcy. 💚💛💕❣⭕💢💢 | ⓜⓔⓡⓡⓨ ©ⓗⓡⓘⓢⓣⓜⓐⓢ Link to post Share on other sites More sharing options...
Computer 10,980 Posted May 2, 2015 Share Posted May 2, 2015 Don't go to college, can't get a job. Go to college, stay in debt forever. Everyone is screwed!!! 💚💛💕❣⭕💢💢 | ⓜⓔⓡⓡⓨ ©ⓗⓡⓘⓢⓣⓜⓐⓢ Link to post Share on other sites More sharing options...
Economy 52,981 Posted May 2, 2015 Author Share Posted May 2, 2015 Don't go to college, can't get a job. Go to college, stay in debt forever. Everyone is screwed!!!I dont know about the US but here in Canada the trades pay pretty good and have work availabe and u dont need college for most of them the reason for that is the younger generations arent interested in physical labor and its mostly old people doing those jobs, and they are forced to compete for labor by offering more money im school they teach us to consider the trades as well if university and college is something you dont want to consider plus with modern technology, the physical labor really isnt as bad as it once was! Link to post Share on other sites More sharing options...
MonsterOfSpain 8,331 Posted May 2, 2015 Share Posted May 2, 2015 What does this have to do with Tesla's batteries? Link to post Share on other sites More sharing options...
Computer 10,980 Posted May 2, 2015 Share Posted May 2, 2015 I dont know about the US but here in Canada the trades pay pretty good and have work availabe and u dont need college for most of them the reason for that is the younger generations arent interested in physical labor and its mostly old people doing those jobs, and they are forced to compete for labor by offering more money im school they teach us to consider the trades as well if university and college is something you dont want to consider plus with modern technology, the physical labor really isnt as bad as it once was!I know very little about that. Nobody in my world talks about an alternative to college. I went to college and I finished a long time ago and I'm not going back so... I'm done worrying about what I will do, but, I might have thought more about that in the past. What kind of jobs are they? Do you mean construction and factory work? It makes sense that it would pay just as much as office work. 💚💛💕❣⭕💢💢 | ⓜⓔⓡⓡⓨ ©ⓗⓡⓘⓢⓣⓜⓐⓢ Link to post Share on other sites More sharing options...
Computer 10,980 Posted May 2, 2015 Share Posted May 2, 2015 What does this have to do with Tesla's batteries? I don't think this is related to Tesla's batteries. Is there a different thread about that? 💚💛💕❣⭕💢💢 | ⓜⓔⓡⓡⓨ ©ⓗⓡⓘⓢⓣⓜⓐⓢ Link to post Share on other sites More sharing options...
MonsterOfSpain 8,331 Posted May 2, 2015 Share Posted May 2, 2015 I don't think this is related to Tesla's batteries. Is there a different thread about that? The link in the OP is about Tesla though Link to post Share on other sites More sharing options...
Michelle 2,056 Posted May 2, 2015 Share Posted May 2, 2015 The link in the OP is about Tesla thoughI noticed that as well when I went to the link lol Link to post Share on other sites More sharing options...
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