- cross-posted to:
- usa@lemmy.ml
- cross-posted to:
- usa@lemmy.ml
cross-posted from: https://lemmy.ml/post/21841560
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also, don’t forget, pre-covid: “you should have enough money set aside in savings to live without income for SIX MONTHS!!!”
covid lockdowns: “our $ multibillion corporation is going to DIE if we don’t end the lockdowns RIGHT NOW!!!”
While at the same time reporting record profits…
Related: 75% of Americans don’t have enough money in savings to cover their bills for six months. That’s why a recession–which leads to a shrinking number of jobs and decreased consumer demand–is such a huge, dramatic siren for the fed and government. A recession for a nation where a large majority are basically flying without a safety net has an even bigger effect on the recession feedback cycle.
In general our entire economy right now has the knob labeled “high-risk/high-reward” turned to 11. With that many people only a few months from not being able to pay car loans, rent, mortgage, and all their other bills, with huge consumer debt, with car loan defaults already rising, and, therefore, only an economic downturn away from not having the means to maintain robust consumer economy, things would go south in the US very fast and with increasing velocity.
250 000$ what the fuck
That neighbour shouldn’t have spent all that money on avocado toast!
Guess I shouldn’t have been an impressionable teenager that believed adults when I was told I’d work at McDonald’s forever if I didn’t take the loan. Egg on my face, haha.
Does this person not remember that literally everyone was upset about bailing the banks and auto industry out??? Like why are we pretending that those were popular decisions, and that the population is to blame?
Yeah but no one opposed the other bailouts as hard as they did for students.
Student loans shouldn’t be guaranteed by the government.
The government has an economic interest in ensuring we have educated workers.
Government backed student loans are a scheme to indebt eighteen year olds before they start their lives. Not everyone needs to go to college. Trades have a better ROI for the average person nowadays. We’re obsessed with college in the states for some reason.
And if they were private loans, they would be different how?
More often than not the loans wouldn’t be granted because there wouldn’t be any collateral and the student could simply declare bankruptcy and get rid of the debt. College would have to be cheaper so people could actually afford it.
You are partially right, there should not be student loans. Education should be free for the benefit of society.
