Originally Posted by
SuperConductor
Yes. All funny points. Student consumers need to be responsible as well.
But I restate the point. "When many of us took out our loans, the airline were doing well. Being a pilot was always a promising career. Not so any more. Not with everything that's happened in the new millennium."
Further. The banking lobby has found fit, once again, to trample constitutional rights. This is a naked example of rent-seeing extractionism.
Let's not point out the exceptions here. Let's stick to the rule and the facts. Those cases pointed out above, are extreme. I
think 90% of us handled ourselves accordingly. If we can create justice for the 90% then I call that an "A".
I'm not taking the counter point for the sake of being a d*ck, but to my view point, the economic crash of 2008 really showed a lot of financial "bad behavior" at many levels and for large groups.
I wish I had the stats in front of me-obviously much better than my anecdotes-but didn't the majority of Americans have a negative savings rate? Just one example.
The housing boom and crash, yet another example. And I believe Suzy Ormann titled a book about living "Young, Fabulous, and Broke." I further remember watching a show something like the 'Ten People Who Caused the Econonmic Meltdown'...and the 10th face was "You," that is, the American public.
Hey, I see what you are saying-schools and loans are out of whack. Schools make larger than life promises, and promote worthless degrees...Aviation pay, generally speaking is out of whack, too.
My hope is that, if we are calling on government intervention, we first turn inward to try to make capitalism work a little... Stop patronizing businesses, institutions, schools, and college majors that don't make financial sense. Be more thrifty.
P.S. Believe me, Suzy Ormann is not my oracle of financial knowledge, but listening to the call ins to her show is usually pretty mind blowing. Especially the folks with good incomes that are waaaay in debt!
