The housing has been crashing for the last 50 years. My parents bought a suburb four bedroom, two car garage, pantry, and rec room, next to the school grounds, for $15,000 in 1967.
Student loan money ended up in the endowment funds of wealthy colleges and universities. The became rich off the backs of the US taxpayer. This entire system is cancerous with greed and corruption.
These are fantastic takes, I was really hopeful of my investments this year, but all my plans have been disoriented, I've been studying the market crashes and I realized some investors made millions from the recent 2008 recession and I was wondering if such success rate could be achieved in this present market. Any recommendations?
I feel exceptionally lucky I started investing in my early 40s and consistently compounded my income to create more cash flow. I grew to a 7 figure well-diversified portfolio having exposure to different prolific investments mainly stocks, real estate, metals, and high yield dividend funds. ever grateful to Trisha Jean Webb my F.A... she is super helpful to a lot of beginners out there
Mainly because "friendships" these days are completely superficial, based entirely on pleasure seeking with very little emphasis on character, ethics, or morals.
@@EnFuego79 It was always about the same. The older generations had similar differences in opinion about what is important for each one. Saying that "before was better" is a very wrong (but very common) idealization: it was not. It was maybe different, but it was not better. Long story short: people always have different opinions. We also change our opinions in time (and some more often than others). If anything, today is more "documented" or more "well-known" that people always have different opinions and change them.
@@thetapheonix so do not pay your student loan - guess what the debt collectors will come and garnish your wages and seizure your property to settle your debt because guess what you are not the government
@@Cerez78 you pay it back with the money you earn - if you think you are smart enough to go to college then you are smart enough to know what the loan terms are that you signed and did the math
Due to his hard work my son graduated from college with no debt. He wants to go law school so to pay for it he joined the Navy for the GI BIll. Halfway through his enlistment and living a good life in San Diego.
People are not being honest on the survey. Add about 20%-30% and you'll have the actual results. Most people will not be honest about their financial security. Some people don't even tell their own family, so why would they tell a stranger?
those people who haven't been taking advantage of the free interest and payment hold over the last 3 years (by saving and making payments) i will have ZERO. NONE. No pity if you don't have your shit together by now.
the crazy thing is the Universities make millions on students that they have no responsibility to get them jobs. Convince them to go to school and make millions with no repercussions.
@@jimratcliff861 bidens loan forgiveness.....what a farse. I think he should have gone after the universities that committed this crime of overselling a degree
So, let me get this straight: you're saying that those who couldn't afford to pay their student loans during the pandemic are stupid and irresponsible ? 😢 FU
I know a person who has a student loan and it's almost paid off . Happy for this person, job well done. I have mentioned to others, pay your debts off A.S.A.P. It feels better to be debt free. People should have their debts paid off by the time they are 50 years old, this way, when you retire, you are debt free and clear.
The reason America has been always considered resilient, is because they’ve had control of the world reserve fiat for a very long time and they’ve been able to spend and live like irresponsible drunken sailors. You can see now how it’s coming to an end.
This isn't unsecured, revolving debt that would be written off and simply reported to credit agencies. This is non-dischargable debt. We're talking court judgements and wage garnishments. I knew someone 8 years ago who tried to walk away from his student debt (a college/university/diploma-mill in Miami, coincidentally), and he had to leave the country ("traveled the world", in scenester-speak) to escape it. When I knew him, he was working under the table as a bartender, because any wages 'on the books' would garnished.
I am so sick of so many getting a free ride, from corporations all the way to the bottom echelons, except for people like myself who work hard, sacrifice, and pay a shit ton of taxes. I went to a state college. I worked two part-time jobs to put myself through. I totally recognize that college costs are insane the last decade but why doesn’t the government do something about the monopolies present in higher education, and how they’re all colluding to rip the masses off.
because politicians gain and keep power by separating us into 2 roughly equal sized groups and do things that make us hate each other more then we hate them. its called divide and conquer and its as old as mankinds first empire.
@@AnnieinKC Check out tax and mortgage rates in Switzerland. Also, there is the expectation of conformity (house must be clean, can't work on yard on Sunday, etc.) that would freak out many Americans and "freedom".
@@ivryrayborn5970 I think $50K for education may be more than worth it if it increases your earnings potential $30-50K for each year or so. That is, the education puts you on a higher pay scale for your entire working life.
Higher education is not mandatory nor forced to anyone to take. It is an investment that may or may not guarantee you a perfect job after graduation but you increased your chances of getting ahead compared to someone who did not go to college. People should not complain about paying off their loans...they chose to borrow...now pay it off!
Actually if you were smart you WOULDNT have been paying down student loan, you would have have set that monthly payment aside ready to pay off a big chunk if the govt doesn't pay it for you, if they do, bonus you got lots of money. If they don't then you got it sitting there ready to pay
I have 3 friends (all dudes, not married) who always do things together, they bought condo 20 yrs ago in NYC together.... sold it in 2021 and moved to vegas together ... bought a house together.. till now... still not married. What a rare case.
@@eljefe4473 Depends. Do you honestly think all those people have debts and no savings? Do you really think there are that many stupid people in America?
it’s ridiculous, i went to the corner store to get a gallon of gas for my lawn mower. i decided to get a candy bar for my sweet tooth. the candy bar was $2.09! it wasn’t even the king size either, just the regular size candy bar.
Man,I think the biggest problem is the lack of actual skills that you learn in school. There's nothing the educational system that teaches you but how not to be in debt your entire life. Can't get a loan to start a small business, but you can get an enormous student loan debt with no problem. There's no educational system to teach you how to be independent in good or bad times.
Loan repayments would restart 60 days after the Supreme Court ruling. If the Supreme Court does not rule before June 30, then the loan payments would begin 60 days after June 30.
Correct. The vast majority of people live paycheck to paycheck and have increased their lifestyles in the last 3 years expecting the loans to vanish. Consumer spending will definitely go down.
Normal life is over until the 2008 type of financial crash happens. Life has become too expensive for the middle class and poor. Good work on your videos.
Well at least we can all sleep well knowing that the incredibly talented Beyonce and JayZ got into their 200 million dollar Malibu mansion. How plebian of them.
The problem with student loans are these institutions give out degrees that you can't make enough money with the job you get to pay it back because the degree was useless they always told me if you're going to be stupid you should have money because it's going to cost you
Yes, and then corporations outsourced millions of jobs and Wallstreet robbed the nation blind while the rich ran out the backdoor with trillions of dollars.
I have NO sympathy for the college loan crowd. Why should everyone bail you out when past generations had to pay for college back in some way? Try going to a VA hospital or cemetery and you'll see the young people who joined the military to responsibly pay for their college. You having to pay your loans back is the least you can do. Don't get angry at me.....get angry at all the greedy overpriced colleges that probably gave you a lot of worthless, expensive woke education. Time to pay up.
@@dubonett8239 ....No, I actually went to college, 4-year and MBA. However, you have to use critical thinking skills and observe what's really going on.
@@dubonett8239 I’ve paid off 3 homes. You probably don’t own one. When you take out a loan, of any kind. And sign YOUR name to it. You are responsible for the debt. It’s called *PERSONAL RESPONSIBILITY*. Probably something you’ve never learned. And because someone goes to college, obviously doesn’t make them smarter either. Especially when they expect others to pay for it. Instead of working harder for a scholarship. You expect others to pick up the tab. 🤣🤣🤣
I see this all around me and I live in a nice suburban area. Some of them seem to rotate out family members as I see U-Haul trucks there every few months to move people out. Many of these homes have cars parked in the driveway (what is in the garage?) and several cars parked in front of the house.
I know someone with a half a million in the bank and his house paid off Social Security coming in plus pension. he's starting to get scared can you imagine most people
Inflation is a global crisis and we have to learn how to budget our financial accordingly. I'm not an expert in this field but it requires disciplines and commitment to achieve our financial freedom. We might need to cut down the unnecessary expenses like eat out all the time, shopping online, and some other expenses. There are always pros and cons no matter where we live but there is an option in life. Be mindful and be happy of what we have today. Sharing is caring from a genocide survivor under the Khmer Rouge Regime in 1975 to 1979!
Good points Spend less and invest for the tough times Have an emergency fund At least something Also: I just went through Vietnam earlier this year Maybe Cambodia later this year. Trying to learn more about the world outside the US Not enough Americans learn about the world in my opinion
@@RetireandGo Good for you to leave your comfort zone to see the world. Vietnam and Cambodia still have about $200 to $300 monthly minimum wage and they have to work longer hours or even 6 to 7 days a week and they are happy to have jobs at the manufacturing like sewing clothes and making shoes for us!
I had to pay for my own college tuition. I worked and paid for my college. The government gave me nothing. People from 20 to 45 years old are so spoiled with all the government handouts. People in my area who got child tax money used the money to go out for dinner or bought pools and they gave no money to their children.
Boats, RVs, and Airplanes are toys and can depreciate, but worse they cost a lot to maintain. With a boat it is slip fees, power (if connected to shore power), and maintenance (hulls cleaning, waterproofing, engines, etc.). Often after the owner realizes this and life gets in the way (family does not want to go out on the ^&$$ boat again because it interferes with school activities, hanging with friends, etc.) to take the boat out much. And they end up selling it for a loss after dumping a lot on money to maintain it.
Do not buy a house together with friends. Even renting one is risky. I speak from personal experience. Back when I was still married to my ex and we lived in Rhode Island, we rented a nice big house with 3 of his single friends. After about 6 months, one of the guys started dating a girl, moved her in and she was pregnant before she finished unpacking. The remaining 2 single guys fled like their balls were on fire. Needless to say, everyone was gone and renting their own apartments before that baby was born.
Buying a house with a group of friends is a really bad idea. The odds of that working out is very low for all the reasons you mentioned plus other “ scenarios “ that we couldn’t even imagine. The odds of them staying friends is very low. Don’t do it! Rent something you can afford maybe with a friend , both names on the lease. Wait for the housing bubble to burst/ crash. See what you can afford then. Stop the FOMO craziness! Don’t listen to realtors/ home builders that don’t care if you go bankrupt in a year. They just want to profit from scaring you into buying in this bubble. Don’t do it unless it’s a great deal .Be patient. Listen to Michaels analysis. Based on fact.
I won’t be surprised the white house pause it again until 2024 to make it a presidential issue, to promise the forgiveness again the same they promised with the immigration 😂
On a local parts house price of $160 for an alternator....lifetime warranty...customer today opted to put the dealership part @ $602 Note: lifetime warranty does not include labor in many cases. So labor every 1-2 years on a lifetime warranty part OR a part that lasted 10+years already and replacing it with another 10+year part.
My wife and I have about $43,000 combined student debt, rather than paying it down we put most of our income into a high yield savings account. Not only have we surpassed our debt amount we're expected to make an additional $2K thanks to compound interest. The sad part is that I've been telling all my friends, and everyone seems to disregard me as if I'm trying to scam them 🙃
I've done the same. Diversifying is best. 6% interest in a CD, Cash which pays 5% and the rest in my 401K pension. You're a smart investor who thinks ahead. 🤔
@@nancychandler3673 Thank you, so are you! I would've put it in a CD but I couldn't risk my funds being inaccessible if the courts made their decision sooner rather than later.
Excellent pulling back the curtain video. It makes sense that because of no one paying toward the debts there will be a ricochet effect. Thanks for keeping your finger on the pulse and reminding what factors are all floating around and colliding with each other.
Here’s the truth, people should have paid the max on student loans out of their budgets while zero interest applied. Every cent would have reduced their balance. At $300 a month =$3600 in a year, for three years, this would be $10,800 off the balance.
Some economists are starting to worry about the possibility of DEflation because the net effect of high consumer debt loads, resumption of loan payments, evictions for non-payment of rents, a diminished dollar, funemployment, etc. will be a marked slow down or cessation of discretionary spending, and ours is a consumer-driven economy.
Worst than what it seems ... Most people if they make the money to pay off a debt they will pay it; but with inflation rent mortgage gas and food prices they can’t pay it the average American probably makes around in two salaries Around $55,000 a year House payments almost $3000 a month along with taxes and insurance; rent $2000 they helped all these immigrants come over they cannot help the homeless but if they call in student debt they’re going to have over 100 million people homeless because they can’t pay their rent or their house note because their student loan payment will be too high and most of these people have children...👁 Oops 😬 sad what a mess In many other countries you don’t have to pay to get advanced training but America made it into a business like they make everything into a business it’s called American greed... I want to see how this Play’s out.... The only thing I see is the economy crashing and burning because it’s always a domino effect...👁
I can't imagine having a big credit card debt, a student loan debt, a car loan, a high rent or mortgage payment, and there are people who have all of those debts. My total mortgage payment is only $1000, so I pay double principal payment every month, my credit card debt is $0 at the end of the month, no student loan debt and no car payment, so my $80k a year salary goes a long way.
Yes, the student loan crisis is a huge deal, at least crazy mortgages have an asset behind them even if the loan exceeds the value of the asset, your student loan has zero asset behind it, it is entirely bad debt unless you landed a job that you otherwise would not have without the degree that caused your student debt, I know this from personal experience, aka, the school of hard knocks!
😂really? LOL! It was going to be $10,000 per borrower, or $20,000 for Pell Grant recipients. But only if your income is below $75k for individuals, $150k for couples. Nothing for parent plus loans! It will help, however, all of us who paid our loans in full with interest do not see the forgiveness program as ‘fair’. So will future borrowers expect the same special treatment? This could be endless.
I can give you an example of student loan debt and what the banks were pushing to borrow to the HILT to kids . I know someone (family) that took all they would give. NEW CAR, Best Apartment, whole food store prices , etc etc. Spending for 4,5,6 years without a job... $480,000.00 student loan Debt . 😢😢😢
I am old and I have mixed feelings on student loan debt. On one hand the students knew what they were taking on and on the other they were young, believed it would pay off and got charged way more interest then prior generations. My daughter is lawyer and works very hard to pay off her school debt while some of her colleagues do not. I think it's time to lift the no bankruptcy stipulation on loans and start figuring out realistic payments for everyone. Some can never payoff everything and that's OK as long as we verify it's true. I don't believe these loans can be refinanced and that ought to change also. We don't want a generation destroyed by debt nor one who is taught you don't have to pay them.
It was difficult when the student loan came due, it was a big piece of my take home. I paid my load early and that was a good feeling and my credit score went way up. I met a girl with a masters in English with $75k in debt. It costs over $30k to fill the tank on some of those yachts.
I don't have student loans, but my neighbor (who graduated college just before covid) does. Due to forbearance, he's never had to make a single payment. He orders through Uber Eats for what seems every.single.meal. I asked him how much his loan payments would be, and he said $270/mo. I asked if he could absorb the cost of payments without having to cut spending elsewhere, and he said "no". I asked him where the cuts would come from, and he said food. If nine other people like him make the same discretionary spending cut, that's an entire Uber Eats driver/shift. (And who knows, it's possible that driver has their own payments to make.) The impact of payments will ripple throughout the economy, hitting people who don't even have loans. It's as if the economy has been juiced by pumping money into it, near ZIRP policies, and reducing people's financial responsibilities... And now has a wet blanket thrown on it, by doing the opposite. We like to think we live in a "free market" economy, but it's anything but with all the manipulatuon.
I learned this lesson early in life....a friend wanted to get a 2 bedroom apartment he said go ahead sign lease and I will move in at the end of the week needless to say he met a woman and moved in with her and since I was on the lease I was roped in so a few months later I got someone to move in to help with rent and utilities and I never did that again I later heard this socalled friend was kicked out by the woman for not helping to pay rent .... lesson learned and never did it again....live and learn as they say
Wait 1 minute. I just bought a new car. I didn't graduate. Now your telling me I have to still pay my student loans back? I just had a baby. My baby daddy don't pay no child support. Typical. They never do. I ain't paying nothing.
I'm a loan officer for a subprime lender. I've been receiving loan applications with people that have student loans that the borrowers have not been touching for years. My company hasn't adjusted the lending restrictions related to these debts that are on their credit report. These people will not be able to afford their loans in a few months.
We live near Pittsburgh PA. My 27 year old daughter told me that a large # of the kids she graduated high school with have up and moved to the St Petersburg FL area in the last couple of years. We live in an area where most kids go to college, but it’s not super wealthy where they don’t have student loans, and not unwealthy, where they get grants. So I’d assume most have significant loans. I’m wondering how many will have to come home when this dam breaks. Also, this gray area, where people are told they will be forgiven these loans, but most realize that was a campaign promise that could very well fall through, stopped some from paying over the last 3 years, just in case. Everything the government touches fails, expensively.
In 1973 a student attending collage could work over the summer and put away enough money to pay for 4 semesters, food and lodging. Then the liberal colleges started raising rates surpassing the cost of current inflation. The government should have yanked the Universities chain back then. The government should have stopped all Universities from investing in professors going on expeditionary trips to countries all over the world looking for a mysterious species that doesn't exit. We the Citizens of America shouldn't pay for any money losing university grants. If they want grants then they should call Bill Gates.
I read an interesting post concerning student debt maybe 18 months ago. During the time payment was deferred he took advantage of no interest and he paid off his loan. Several months later he received a $10,000 check from the lending institution, he called asking what this was. The lender tells him they were giving him his money back and reopening his loan, when the loan was forgiven that would wipe out his new loan debt. He explained he did not want to do that, the bank did not know what to do. Now he gave no details so it was just a post, no way to prove it.
Anyone that hasn’t been paying on their student loans have no doubt adjusted their lifestyle and bought even more stuff or spent it frivolously. This is going to be a MASSIVE problem, and will result in numerous defaults on either the student loan, vehicle loans, or even mortgages that these people took out. The amount of financial illiteracy in this country is mind boggling. These same people will become a burden on their own families because of their own bad decisions.
A neighbor of mine here in San Diego, who is the principal of a boys Catholic school, said that some of the teachers are partnering up in order to buy a house. The houses are $500,000.00 plus, snd way inland. What a predicament! That being said, I bought my first house with a friend about 20 years ago, in order to stay in San Diego. I was 1/3rd owner. Three years later, I got married and my friend wanted to buy me out. The house had doubled in value, and it was not without its challenges, but we did it, and managed to remain friends. There were times things were bumpy though. (BTW…buying a house together was his idea.). Was worth it in the long run for me though, as I was starting to think about moving back to the south, though I really wanted to stay in San Diego. I am still here. Also...visited the Eden Roc and the Fontaine Bleu years ago with my Mom. Loved them both! Iconic classics! I have post cards from both hotels up on my cubicle wall at work, and look at them every day!
@@jmacomber86 It's different today I was a Trade School person got paid $25 an hr to go to school. A guy in my class got a monthly check TOO from being in coast Guard . GoodLuck🤑🤑
I owed $288k in student loans, so I worked in government for ten years under the PSLF program. All was forgiven in last summer. I still work in my government job.
you messed up the analogy, its "Instead of buying the good beer that costs $20 a case before inflation, they are buying the cheap stuff that only costs $35 a case now"
Love seeing those boats. Makes me think, you should do a video from the Swimming Hall of Fame in Ft Lauderdale. They have awesome yachts up there from you, and a multi-million dollar pool re-build going on, that is not highly publicized. I guess I want it to stay that way, as with all good pools even in my own small town, so I can still pay a few bucks and get some laps in, but Florida has been so long since I have visited now, just seeing it would be cool. Best wishes.
About friends buying with friends, the attorney is correct about getting it in writing but that wouldn't solve the problem, either. In The Case of the Deadbeat Friend, it would likely be similar to you getting a judgement from a homeless dude who keyed your car. There's no money to be gotten, and you'd still be shit out of luck.
It's the paradox of a credit bubble: all of this should lead to _deflation_ not inflation. People using credit cards create new money and stimulates demand, but eventually it has to be paid back with interest. So where's that money going to come from? The answer has always been more credit. But eventually the demand for money will exceed the supply as more and more $ has to go to paying off debt. Hence, deflation.
In about 2009/2010, it was 2 other guys & myself. The guy who's name was on the house invited us saying it'll be 3, as it was at first. The 3rd guy moved out or got kicked out, I wasn't given a clear reason. So instead of paying 1/3, I was now required to pay 1/2. The dude then had a gf with 5 or 6 kids & told me he had no money....I had to leave. Getting your own is best in most situations.
The BEGINNING Of The Housing Crash IS HERE ruclips.net/video/Tc7FRkreO-s/видео.html
dooom ! :)
The housing has been crashing for the last 50 years. My parents bought a suburb four bedroom, two car garage, pantry, and rec room, next to the school grounds, for $15,000 in 1967.
The juxtaposition of walking past million dollar yachts while discussing the debt of the common man is perfect!
He calls them boats. Bwuhahahaha
One of the boats is named “Happy.”
Exactly! Kinda fun.
I always use the word juxtaposition
Middle class is evaporating.
The issue with America in a nutshell: Need a business loan? Good luck with that. Need a student loan? How much do you need?
Happens when your government insures those loans...
We have enough businesses but not enough educated workers, that’s why.
@@torsten6777 Educated workers own their own businesses.
it's a joke that students need to loan their profession for money ...
Buying a house with multiple "friends"----what a terrible idea. 😨😱
The whole point of buying a home is that you don't have to live with friends!
Horrible idea. I wouldn’t do it. Money is problematic within families. Let alone, among friends.😮
What could possibly go wrong 😑! Lol 😂 🤪😜
This is a nightmare waiting to happen! Yikes.😢😢😢
Merica
Student loan money ended up in the endowment funds of wealthy colleges and universities. The became rich off the backs of the US taxpayer. This entire system is cancerous with greed and corruption.
No way to fix it. Way beyond that point. Need a complete reset like a War, famine, huge calamity, invasion by China...etc..
These are fantastic takes, I was really hopeful of my investments this year, but all my plans have been disoriented, I've been studying the market crashes and I realized some investors made millions from the recent 2008 recession and I was wondering if such success rate could be achieved in this present market. Any recommendations?
Cryptocurrency crashed the last couple years, so it should be starting a new run to a new high.
I feel exceptionally lucky I started investing in my early 40s and consistently compounded my income to create more cash flow. I grew to a 7 figure well-diversified portfolio having exposure to different prolific investments mainly stocks, real estate, metals, and high yield dividend funds. ever grateful to Trisha Jean Webb my F.A... she is super helpful to a lot of beginners out there
@@CliffWarrensmith Did a quick web search, she has a pretty decent bio, I wrote her and I'm waiting on her reply.
What normally happens when a group of friends rent a house together? Things normally fall apart within 6 months!
Yes I’ve seen this from time to time. It’s always a lawsuit waiting to happen
Mainly because "friendships" these days are completely superficial, based entirely on pleasure seeking with very little emphasis on character, ethics, or morals.
they will be friends no more... soon. :D
@@makoado6010 true
No mixing business and friends or family
Finish work and then spend time with them :-)
@@EnFuego79 It was always about the same. The older generations had similar differences in opinion about what is important for each one. Saying that "before was better" is a very wrong (but very common) idealization: it was not. It was maybe different, but it was not better.
Long story short: people always have different opinions. We also change our opinions in time (and some more often than others). If anything, today is more "documented" or more "well-known" that people always have different opinions and change them.
I paid off my student loans in full - if you took out a student loan you must pay it back - you signed it now pay it back
With what money?
Why? the government doesnt pay it's debt so why should anyone else.
@@thetapheonix so do not pay your student loan - guess what the debt collectors will come and garnish your wages and seizure your property to settle your debt because guess what you are not the government
@@Cerez78 you pay it back with the money you earn - if you think you are smart enough
to go to college then you are smart enough to know what the loan terms are that you signed and did the math
Due to his hard work my son graduated from college with no debt. He wants to go law school so to pay for it he joined the Navy for the GI BIll. Halfway through his enlistment and living a good life in San Diego.
VA benefits covered my undergrad and Master's degrees. The best benefit bar none is the VR&E program in the VA.
I worked just as hard and graduated with debt.
@@brianzembruski5485 aww poor baby...hope you got a degree in something other then gender studies
good for him. you raised him right. so good for you sir. 🫡🇺🇸
@@utpharmboy2006 GM paid my Buddies Off + more.IF u had a B avg it's Paid was a Great company 40 years ago..🙄🙄🙄ALOHA
They should charge the same interest on student loans that the banks were giving on savings accounts
i think they should charge whatever interest students signed for on the dotted lines
@@utpharmboy2006 I agree, whatever was contractually agreed to is what it is.
People are not being honest on the survey. Add about 20%-30% and you'll have the actual results. Most people will not be honest about their financial security. Some people don't even tell their own family, so why would they tell a stranger?
You're probably right
those people who haven't been taking advantage of the free interest and payment hold over the last 3 years (by saving and making payments) i will have ZERO. NONE. No pity if you don't have your shit together by now.
September? WTF? Why not June? Why do we have to wait til September? I hate the Biden admin!
They keep pushing it down the road, pay up.
We stopped waiting a year ago, paying those things down.
the crazy thing is the Universities make millions on students that they have no responsibility to get them jobs. Convince them to go to school and make millions with no repercussions.
No the crazy thing is all the sheep blindly walking into that trap
I can see some of the worst cases receiving some assistance on payments . Go figure . 🎉😊
So glad I didn't go
@@trey1208 like suckers and they do it with the entitlement of a degree. Should be Illegal.
@@jimratcliff861 bidens loan forgiveness.....what a farse. I think he should have gone after the universities that committed this crime of overselling a degree
Telling Americans to pay off debt is like tell them to exercise. They will hate u for it.
Truth
Don’t tell Americans:
Be responsible for yourself
Be healthy
Live debt free
Buy less invest more
These ideas don’t go over well haha
Exercise catching stray bullets 😅
So, let me get this straight: you're saying that those who couldn't afford to pay their student loans during the pandemic are stupid and irresponsible ?
😢 FU
Even the government will never pay off his debt
@@torsten6777 true
Keep raising the ceiling haha :-)
I know a person who has a student loan and it's almost paid off . Happy for this person, job well done.
I have mentioned to others, pay your debts off A.S.A.P. It feels better to be debt free.
People should have their debts paid off by the time they are 50 years old, this way, when you retire, you are debt free and clear.
The reason
America has been always considered resilient, is because they’ve had control of the world reserve fiat for a very long time and they’ve been able to spend and live like irresponsible drunken sailors. You can see now how it’s coming to an end.
💯
Empires come and go..
@@junserafin5241 agree, but they come and go due to greed.
We will be dealing with the Yuan as the reserve currency. Nothing anywhere says the US has to be the center of everything, or control everything.
They won’t pay them student loans. This is a generation that has accepted they will never get ahead so credit score be damned.
This isn't unsecured, revolving debt that would be written off and simply reported to credit agencies.
This is non-dischargable debt. We're talking court judgements and wage garnishments. I knew someone 8 years ago who tried to walk away from his student debt (a college/university/diploma-mill in Miami, coincidentally), and he had to leave the country ("traveled the world", in scenester-speak) to escape it. When I knew him, he was working under the table as a bartender, because any wages 'on the books' would garnished.
I am so sick of so many getting a free ride, from corporations all the way to the bottom echelons, except for people like myself who work hard, sacrifice, and pay a shit ton of taxes. I went to a state college. I worked two part-time jobs to put myself through. I totally recognize that college costs are insane the last decade but why doesn’t the government do something about the monopolies present in higher education, and how they’re all colluding to rip the masses off.
because politicians gain and keep power by separating us into 2 roughly equal sized groups and do things that make us hate each other more then we hate them. its called divide and conquer and its as old as mankinds first empire.
And yet in Switzerland and other countries, college is free.
@@AnnieinKC Check out tax and mortgage rates in Switzerland. Also, there is the expectation of conformity (house must be clean, can't work on yard on Sunday, etc.) that would freak out many Americans and "freedom".
@@JBoy340a Yeah that doesn’t sound bad at all. I’d rather have that than a 50k debt just from getting higher education
@@ivryrayborn5970 I think $50K for education may be more than worth it if it increases your earnings potential $30-50K for each year or so. That is, the education puts you on a higher pay scale for your entire working life.
Higher education is not mandatory nor forced to anyone to take. It is an investment that may or may not guarantee you a perfect job after graduation but you increased your chances of getting ahead compared to someone who did not go to college. People should not complain about paying off their loans...they chose to borrow...now pay it off!
Same as sny other loan or debt.. no difference
Actually if you were smart you WOULDNT have been paying down student loan, you would have have set that monthly payment aside ready to pay off a big chunk if the govt doesn't pay it for you, if they do, bonus you got lots of money. If they don't then you got it sitting there ready to pay
Bonus if you earn on that money through high interest short term treasury. Burn that government candle on both ends 😂
@@joelpm503 bingo
I have 3 friends (all dudes, not married) who always do things together, they bought condo 20 yrs ago in NYC together.... sold it in 2021 and moved to vegas together ... bought a house together.. till now... still not married. What a rare case.
Everyone is going out and buying and showing off.. it's all going to come to end.
Not everyone, Steven. People with money!
Roaring 20s all over.
@@DIVISIONINCISIONmoney??? Or debt notes?
@@DIVISIONINCISION People who are going into debt you mean.
@@eljefe4473 Depends. Do you honestly think all those people have debts and no savings? Do you really think there are that many stupid people in America?
Free and clear. I owe nothing
Free and clear , no early roperty tax😮
@@rodwilliams2782 no tax for me for life
And...u will be happy
@@boburwell9921 No tax for me for life . How is that work for you . ( I doubt you are right till you can prove it which you can't I'm sure )
@@rodwilliams2782 disabled veteran bud. No tax no property tax. You should have went to war.. it was a blast 💥
it’s ridiculous, i went to the corner store to get a gallon of gas for my lawn mower. i decided to get a candy bar for my sweet tooth. the candy bar was $2.09! it wasn’t even the king size either, just the regular size candy bar.
"The nine most terrifying words in the English language are: I'm from the Government, and I'm here to help. "-Ronald Reagan
Most trrrifying: I'm from Amazon, and I'm here to help. I'm from Apple or Google or Microsoft here to help!! 😅
Ronald Read WAS the Government.
How true!😊😊😊😊
I'm Old I saw him LIVE get Shot on a TV a real one !!! unreal
Man,I think the biggest problem is the lack of actual skills that you learn in school. There's nothing the educational system that teaches you but how not to be in debt your entire life. Can't get a loan to start a small business, but you can get an enormous student loan debt with no problem. There's no educational system to teach you how to be independent in good or bad times.
TOAD Mike to do seminars $$$..Did 3 in like 1983 for $1k total made my Mill. ALOHA🤑🤑🤑
Loan repayments would restart 60 days after the Supreme Court ruling. If the Supreme Court does not rule before June 30, then the loan payments would begin 60 days after June 30.
Correct. The vast majority of people live paycheck to paycheck and have increased their lifestyles in the last 3 years expecting the loans to vanish. Consumer spending will definitely go down.
Normal life is over until the 2008 type of financial crash happens. Life has become too expensive for the middle class and poor. Good work on your videos.
Well at least we can all sleep well knowing that the incredibly talented Beyonce and JayZ got into their 200 million dollar Malibu mansion. How plebian of them.
I would have taken than money to buy the Flatiron Building in NYC that auctioned for only 161M. 😅
those student loan debtors have no problem spending 400 dollars on Beyonce concert tickets.
I finished paying Sallie Mae back in 2020. so glad I didn't wait and speculate on student loan 'forgiveness'.
The colleges that charged the students should take the hit, not the taxpayer.
It wouldn't be the schools, it's the Department of Education that issued the Federal student loans. They were the lending agency.
Some of these universities have billions in endowment funds and pay no taxes. Make them pay!!!
Yes, especially the athletic department.
I agree but it’s about votes not being responsible or what’s right
@@Cerez78 notice I said "charged".
The problem with student loans are these institutions give out degrees that you can't make enough money with the job you get to pay it back because the degree was useless they always told me if you're going to be stupid you should have money because it's going to cost you
Plot twist: Michael tells us at the end he owns all those boats as his rental properties and he was out collecting his monthly checks.
And he just raised all the rents!
He's breaking knee caps
😆
I’m from the government and I’m here to help. Ever heard that before? You were warned and still fell for it.
Yes I heard that before, Ronald Reagan
Yes, and then corporations outsourced millions of jobs and Wallstreet robbed the nation blind while the rich ran out the backdoor with trillions of dollars.
I have NO sympathy for the college loan crowd. Why should everyone bail you out when past generations had to pay for college back in some way? Try going to a VA hospital or cemetery and you'll see the young people who joined the military to responsibly pay for their college. You having to pay your loans back is the least you can do. Don't get angry at me.....get angry at all the greedy overpriced colleges that probably gave you a lot of worthless, expensive woke education. Time to pay up.
Totally agree 👍
I can tell you didn't attend college.
@@dubonett8239 ....No, I actually went to college, 4-year and MBA. However, you have to use critical thinking skills and observe what's really going on.
@@dubonett8239 I’ve paid off 3 homes. You probably don’t own one. When you take out a loan, of any kind. And sign YOUR name to it. You are responsible for the debt. It’s called *PERSONAL RESPONSIBILITY*. Probably something you’ve never learned. And because someone goes to college, obviously doesn’t make them smarter either. Especially when they expect others to pay for it. Instead of working harder for a scholarship. You expect others to pick up the tab. 🤣🤣🤣
@@FloridaGirl- Let's see, my primary residence is paid off, so is my house in the keys, car and boat. Any other questions? Have a lovely day!
People dont think nothing bad will happen they hope nothing bad happens so they prefer to ignore the possibility.
pay cash. dont get a mortgage people. and if you dont have cash, start by living more simply or living with family for a time period.
People are broke. I say buy a tent and find a river lol
Mortgages are the biggest scam of all times
co ownership is the only solution in Canada. 2 to 3 families with children live in the same house just like 3rd world countries
It's happening in the us
I see this all around me and I live in a nice suburban area. Some of them seem to rotate out family members as I see U-Haul trucks there every few months to move people out. Many of these homes have cars parked in the driveway (what is in the garage?) and several cars parked in front of the house.
@@colettespencer3357 very disappointing to see the consequences of what is called democracy. Stay strong we love you from Canada
@@DIVISIONINCISION yes. Exactly. Im seeing it as well.
Yeah America's always been trying to become a third world nation..
I mean they had 3 years to pay it down interest free...
yeah but why pay when you don't have to...it's the American way
I know someone with a half a million in the bank and his house paid off Social Security coming in plus pension. he's starting to get scared can you imagine most people
Wow he is lucky
why would he be scared? he's doing good from what you explained.
@@debbiec6216 He'[s worried and me too that's the reason we have $$$..ALOHA
@@debbiec6216 well when you hear about Bank runs everyday for 2 months straight I'm sure that has effect
If he has his pension and savings, he'll be fine. At most he just gets late social security payments. He's not hurting for money.
Welcome to Brandon’s America FJB
For a minute there I thought you was a democrat, I am glad to read you are living in reality.
He is *building back better* 🤣🤣 You know…the thing. 🤪
NEVER put yourself in a debt that you can't pay off yourself, regardless of married or not. No one can predict human behavior.
True
No group homes or group loans
That will not end up well
Inflation is a global crisis and we have to learn how to budget our financial accordingly. I'm not an expert in this field but it requires disciplines and commitment to achieve our financial freedom. We might need to cut down the unnecessary expenses like eat out all the time, shopping online, and some other expenses. There are always pros and cons no matter where we live but there is an option in life. Be mindful and be happy of what we have today. Sharing is caring from a genocide survivor under the Khmer Rouge Regime in 1975 to 1979!
Good points
Spend less and invest for the tough times
Have an emergency fund
At least something
Also: I just went through Vietnam earlier this year
Maybe Cambodia later this year. Trying to learn more about the world outside the US
Not enough Americans learn about the world in my opinion
@@RetireandGo Good for you to leave your comfort zone to see the world. Vietnam and Cambodia still have about $200 to $300 monthly minimum wage and they have to work longer hours or even 6 to 7 days a week and they are happy to have jobs at the manufacturing like sewing clothes and making shoes for us!
I had to pay for my own college tuition. I worked and paid for my college. The government gave me nothing. People from 20 to 45 years old are so spoiled with all the government handouts. People in my area who got child tax money used the money to go out for dinner or bought pools and they gave no money to their children.
The sky is falling as Michael walks past million dollar yachts.
Hey Nigerian message me
Half of those Yachts will be sitting in drydock real quickly being put up for bid at auction... mr. Fancy hyphenated name
Best wishes to you Michael from a Venice Snowbird .
You'll be able to buy up those boats for cheap soon.. It's the valuations that sink, not the boats.
Boats, RVs, and Airplanes are toys and can depreciate, but worse they cost a lot to maintain. With a boat it is slip fees, power (if connected to shore power), and maintenance (hulls cleaning, waterproofing, engines, etc.). Often after the owner realizes this and life gets in the way (family does not want to go out on the ^&$$ boat again because it interferes with school activities, hanging with friends, etc.) to take the boat out much. And they end up selling it for a loss after dumping a lot on money to maintain it.
Do not buy a house together with friends. Even renting one is risky. I speak from personal experience. Back when I was still married to my ex and we lived in Rhode Island, we rented a nice big house with 3 of his single friends. After about 6 months, one of the guys started dating a girl, moved her in and she was pregnant before she finished unpacking. The remaining 2 single guys fled like their balls were on fire. Needless to say, everyone was gone and renting their own apartments before that baby was born.
Buying a house with a group of friends is a really bad idea. The odds of that working out is very low for all the reasons you mentioned plus other “ scenarios “ that we couldn’t even imagine. The odds of them staying friends is very low. Don’t do it! Rent something you can afford maybe with a friend , both names on the lease. Wait for the housing bubble to burst/ crash. See what you can afford then. Stop the FOMO craziness! Don’t listen to realtors/ home builders that don’t care if you go bankrupt in a year. They just want to profit from scaring you into buying in this bubble. Don’t do it unless it’s a great deal .Be patient. Listen to Michaels analysis. Based on fact.
Thanks for backing me up!!
I won’t be surprised the white house pause it again until 2024 to make it a presidential issue, to promise the forgiveness again the same they promised with the immigration 😂
That's EXACTLY what's going to happen. Even if the Supreme Court strikes down the forgiveness scheme, the paused payments can be extended forever.
How sad! The American people don’t need to be responsible for their debt. They need to pay up.😢
I've been thinking about this as well. Seems increasingly likely.
then when republicans win dems will blame them. The circle of blame will continue.
Exactly, never let a crisis go to waste!
Student loans should be paid. They got the money on good faith & it should be returned. I love these walks, Michael. I so enjoy them.
Where were you when we bailed out the Banks or the Farmers or Wall Street or the Auto Industry???
If you're looking to save on groceries, I hear Bud Lite is on sale. 😆
On a local parts house price of $160 for an alternator....lifetime warranty...customer today opted to put the dealership part @ $602 Note: lifetime warranty does not include labor in many cases. So labor every 1-2 years on a lifetime warranty part OR a part that lasted 10+years already and replacing it with another 10+year part.
My wife and I have about $43,000 combined student debt, rather than paying it down we put most of our income into a high yield savings account.
Not only have we surpassed our debt amount we're expected to make an additional $2K thanks to compound interest.
The sad part is that I've been telling all my friends, and everyone seems to disregard me as if I'm trying to scam them 🙃
I've done the same. Diversifying is best. 6% interest in a CD, Cash which pays 5% and the rest in my 401K pension. You're a smart investor who thinks ahead. 🤔
@@nancychandler3673 Thank you, so are you!
I would've put it in a CD but I couldn't risk my funds being inaccessible if the courts made their decision sooner rather than later.
Excellent pulling back the curtain video. It makes sense that because of no one paying toward the debts there will be a ricochet effect.
Thanks for keeping your finger on the pulse and reminding what factors are all floating around and colliding with each other.
Here’s the truth, people should have paid the max on student loans out of their budgets while zero interest applied. Every cent would have reduced their balance. At $300 a month =$3600 in a year, for three years, this would be $10,800 off the balance.
Or better yet, put it into a savings account.
“Time for them to pull their self up by their boot straps!!”….I guess all the free money isn’t free after all!!😌😌😌😁
Some economists are starting to worry about the possibility of DEflation because the net effect of high consumer debt loads, resumption of loan payments, evictions for non-payment of rents, a diminished dollar, funemployment, etc. will be a marked slow down or cessation of discretionary spending, and ours is a consumer-driven economy.
Worst than what it seems ...
Most people if they make the money to pay off a debt they will pay it; but with inflation rent mortgage gas and food prices they can’t pay it the average American probably makes around in two salaries
Around $55,000 a year House payments almost $3000 a month along with taxes and insurance; rent $2000 they helped all these immigrants come over they cannot help the homeless but if they call in student debt they’re going to have over 100 million people homeless because they can’t pay their rent or their house note because their student loan payment will be too high and most of these people have children...👁
Oops 😬 sad what a mess
In many other countries you don’t have to pay to get advanced training but America made it into a business like they make everything into a business it’s called American greed...
I want to see how this
Play’s out....
The only thing I see is the economy crashing and burning because it’s always a domino effect...👁
I can't imagine having a big credit card debt, a student loan debt, a car loan, a high rent or mortgage payment, and there are people who have all of those debts.
My total mortgage payment is only $1000, so I pay double principal payment every month, my credit card debt is $0 at the end of the month, no student loan debt and no car payment, so my $80k a year salary goes a long way.
Credit was created to enslave us. Irresponsible people are happy to enslave themselves. Instant gratification. The Devil wore Plastic.
Yes, the student loan crisis is a huge deal, at least crazy mortgages have an asset behind them even if the loan exceeds the value of the asset, your student loan has zero asset behind it, it is entirely bad debt unless you landed a job that you otherwise would not have without the degree that caused your student debt, I know this from personal experience, aka, the school of hard knocks!
But wait...wasn't Biden supposed to end student debt repayment?
He has.
@@wizzyno1566
I believe the decision is still before the Supreme Court
The President has no authority to void legal contracts.
😂really? LOL! It was going to be $10,000 per borrower, or $20,000 for Pell Grant recipients. But only if your income is below $75k for individuals, $150k for couples. Nothing for parent plus loans!
It will help, however, all of us who paid our loans in full with interest do not see the forgiveness program as ‘fair’. So will future borrowers expect the same special treatment? This could be endless.
@@SteveAaroe I agree but sadly most student loans are government backed (which should never be the case either)
I can give you an example of student loan debt and what the banks were pushing to borrow to the HILT to kids . I know someone (family) that took all they would give. NEW CAR, Best Apartment, whole food store prices , etc etc. Spending for 4,5,6 years without a job... $480,000.00 student loan Debt . 😢😢😢
Student loan debt is the responsibility of the person that got the loan.. sorry no forgiveness !!!! Stupidity and Selfishness are NO excuse! Sorry!
I am old and I have mixed feelings on student loan debt. On one hand the students knew what they were taking on and on the other they were young, believed it would pay off and got charged way more interest then prior generations. My daughter is lawyer and works very hard to pay off her school debt while some of her colleagues do not. I think it's time to lift the no bankruptcy stipulation on loans and start figuring out realistic payments for everyone. Some can never payoff everything and that's OK as long as we verify it's true. I don't believe these loans can be refinanced and that ought to change also. We don't want a generation destroyed by debt nor one who is taught you don't have to pay them.
It was difficult when the student loan came due, it was a big piece of my take home. I paid my load early and that was a good feeling and my credit score went way up. I met a girl with a masters in English with $75k in debt. It costs over $30k to fill the tank on some of those yachts.
I was there 5 days saw ONE person on those boats Go to EU u See No Boats out a zillion $$ more..ALOHA😁😁
Another great video Michael! Most people don’t know that the Federal Reserve isn’t even US owned!
I don't have student loans, but my neighbor (who graduated college just before covid) does. Due to forbearance, he's never had to make a single payment. He orders through Uber Eats for what seems every.single.meal. I asked him how much his loan payments would be, and he said $270/mo. I asked if he could absorb the cost of payments without having to cut spending elsewhere, and he said "no". I asked him where the cuts would come from, and he said food.
If nine other people like him make the same discretionary spending cut, that's an entire Uber Eats driver/shift. (And who knows, it's possible that driver has their own payments to make.)
The impact of payments will ripple throughout the economy, hitting people who don't even have loans. It's as if the economy has been juiced by pumping money into it, near ZIRP policies, and reducing people's financial responsibilities... And now has a wet blanket thrown on it, by doing the opposite. We like to think we live in a "free market" economy, but it's anything but with all the manipulatuon.
I learned this lesson early in life....a friend wanted to get a 2 bedroom apartment he said go ahead sign lease and I will move in at the end of the week needless to say he met a woman and moved in with her and since I was on the lease I was roped in so a few months later I got someone to move in to help with rent and utilities and I never did that again I later heard this socalled friend was kicked out by the woman for not helping to pay rent .... lesson learned and never did it again....live and learn as they say
They will probably keep defer the student loans until the election time next year. Vote for me and I will forgive your loans!
You should trust Federal Reserve economists as much as you would trust a prison dentist.
Yellon made $28m between Jobs 🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑
These economist are covering for Joe especially that Krugman fellow.
Of course! If they say anything against Joe they immediately become jobless.
Wait 1 minute. I just bought a new car. I didn't graduate. Now your telling me I have to still pay my student loans back? I just had a baby. My baby daddy don't pay no child support. Typical. They never do. I ain't paying nothing.
I'm a loan officer for a subprime lender. I've been receiving loan applications with people that have student loans that the borrowers have not been touching for years. My company hasn't adjusted the lending restrictions related to these debts that are on their credit report. These people will not be able to afford their loans in a few months.
We live near Pittsburgh PA. My 27 year old daughter told me that a large # of the kids she graduated high school with have up and moved to the St Petersburg FL area in the last couple of years.
We live in an area where most kids go to college, but it’s not super wealthy where they don’t have student loans, and not unwealthy, where they get grants. So I’d assume most have significant loans.
I’m wondering how many will have to come home when this dam breaks.
Also, this gray area, where people are told they will be forgiven these loans, but most realize that was a campaign promise that could very well fall through, stopped some from paying over the last 3 years, just in case.
Everything the government touches fails, expensively.
There's an oily shimmer all through that water. Hmmm yachts look good but they pollute like crazy
useless degrees coupled with extreme unforgivable debt.. what could go wrong.
In 1973 a student attending collage could work over the summer and put away enough money to pay for 4 semesters, food and lodging. Then the liberal colleges started raising rates surpassing the cost of current inflation. The government should have yanked the Universities chain back then. The government should have stopped all Universities from investing in professors going on expeditionary trips to countries all over the world looking for a mysterious species that doesn't exit. We the Citizens of America shouldn't pay for any money losing university grants. If they want grants then they should call Bill Gates.
Wait a damn minute.....ive been paying rent when i dont have to???!!!!
No that’s a misconception rent freezes are long gone now
earlier on another video he said that California is still doing that
Now we know what kind of person you are.
California baby ! Haha :-)
@@timpalya6825 one that doesn't like to be leeched off of?
Pay your bills
Please tell me im not the only one who enjoyed getting laughs at some of those boat names. Think my favorites were God's Plan, Me Gusta and All In.
Like you ambling along this happy pier talking about the financial crunch taking place right now.That is Miami at its best.
I read an interesting post concerning student debt maybe 18 months ago. During the time payment was deferred he took advantage of no interest and he paid off his loan. Several months later he received a $10,000 check from the lending institution, he called asking what this was. The lender tells him they were giving him his money back and reopening his loan, when the loan was forgiven that would wipe out his new loan debt. He explained he did not want to do that, the bank did not know what to do.
Now he gave no details so it was just a post, no way to prove it.
Anyone that hasn’t been paying on their student loans have no doubt adjusted their lifestyle and bought even more stuff or spent it frivolously. This is going to be a MASSIVE problem, and will result in numerous defaults on either the student loan, vehicle loans, or even mortgages that these people took out. The amount of financial illiteracy in this country is mind boggling. These same people will become a burden on their own families because of their own bad decisions.
I think Biden Claus will do a last minute hail Mary so he can be reelected again,yes this issue is political in there eyes😮
good
@@orangebirddog No Dead people too he's a DEM !!😝😝
Biden, has memory problem now, it will only decrease. He needs to resign and not even try to run again. Think about in 2 years what he could be like?
@@orangebirddog and people who don't like clown shows
@@orangebirddog seems to me Dump's name was on all those stimulus checks, after he pretended there was no pandemic.
Thank you always good videos.
You're welcome!
When is the last time you parted happily with a "roommate"?
ban TicTock, smart phones, internet bring back hard line phones, typewriter and paper file cabinets...
Those boats 😮
Hi Michael! Thanks for the common sense information! And, so nice to see the boats.
No ban should be allowed because that power cannot be taken back from the government. But if they gonna ban something that should be Mcdonald.
A neighbor of mine here in San Diego, who is the principal of a boys Catholic school, said that some of the teachers are partnering up in order to buy a house. The houses are $500,000.00 plus, snd way inland. What a predicament! That being said, I bought my first house with a friend about 20 years ago, in order to stay in San Diego. I was 1/3rd owner. Three years later, I got married and my friend wanted to buy me out. The house had doubled in value, and it was not without its challenges, but we did it, and managed to remain friends. There were times things were bumpy though. (BTW…buying a house together was his idea.). Was worth it in the long run for me though, as I was starting to think about moving back to the south, though I really wanted to stay in San Diego. I am still here. Also...visited the Eden Roc and the Fontaine Bleu years ago with my Mom. Loved them both! Iconic classics! I have post cards from both hotels up on my cubicle wall at work, and look at them every day!
About time enough pandering to free loaders I join the army to pay my student debts
I did too, still didn’t pay for all my loans. Two tours in Iraq, and I left eight 40k in debt, army only pays 100% after 3 years.
did it pay it all , or did you pay up to 30%?
@@jmacomber86 It's different today I was a Trade School person got paid $25 an hr to go to school. A guy in my class got a monthly check TOO from being in coast Guard . GoodLuck🤑🤑
I owed $288k in student loans, so I worked in government for ten years under the PSLF program. All was forgiven in last summer. I still work in my government job.
you messed up the analogy, its "Instead of buying the good beer that costs $20 a case before inflation, they are buying the cheap stuff that only costs $35 a case now"
Love seeing those boats. Makes me think, you should do a video from the Swimming Hall of Fame in Ft Lauderdale. They have awesome yachts up there from you, and a multi-million dollar pool re-build going on, that is not highly publicized. I guess I want it to stay that way, as with all good pools even in my own small town, so I can still pay a few bucks and get some laps in, but Florida has been so long since I have visited now, just seeing it would be cool. Best wishes.
0:10
Am I the only one who's getting GTA Vice City vibes here?! xD
About friends buying with friends, the attorney is correct about getting it in writing but that wouldn't solve the problem, either. In The Case of the Deadbeat Friend, it would likely be similar to you getting a judgement from a homeless dude who keyed your car. There's no money to be gotten, and you'd still be shit out of luck.
I was there with SIX back in 1995 was $2200 to FORCE a Sale .🤑🤑
True: the term “ you can’t squeeze water from a rock”
I used to bike down there when I was living at 50 Biscayne.
Its a nice spot
It's the paradox of a credit bubble: all of this should lead to _deflation_ not inflation. People using credit cards create new money and stimulates demand, but eventually it has to be paid back with interest. So where's that money going to come from? The answer has always been more credit. But eventually the demand for money will exceed the supply as more and more $ has to go to paying off debt. Hence, deflation.
Credit cards don’t create new money 😂
In about 2009/2010, it was 2 other guys & myself. The guy who's name was on the house invited us saying it'll be 3, as it was at first. The 3rd guy moved out or got kicked out, I wasn't given a clear reason. So instead of paying 1/3, I was now required to pay 1/2. The dude then had a gf with 5 or 6 kids & told me he had no money....I had to leave. Getting your own is best in most situations.
Not me, I paid mine off two years ago.