The next bailout will be with student loans: White House takes first steps in allowing a bankruptcy option for student debt. $1.2 trillion in student debt outstanding.
It truly is absurd when you hear people moralizing that people should pay their student debt when virtually every other debt class can be discharged through bankruptcy. You can go to Las Vegas, run up $50,000 in credit card debt for a wild night, and if you are unable to pay it back, no problem. […]
Cronyism and ensuring American taxpayers bailout the finance industry during the next crash: Nostradamus like spending bill will ensure big banks never fail with your money.
Do you smell what is in the air? Pine trees? No. Something with a more pungent smell. There is a wonderful whiff of cronyism floating around Washington D.C. In the latest government kabuki theater there was some interesting items being passed. There were major protections given to banks should trillions of dollars in derivatives blow […]
One-third of working Americans support two-thirds of the population: The hidden figures of those not in the labor force and transfer payments.
There still seems to be little acknowledgement of the massive army of people now falling into the category labeled as not in the labor force. Some of this growth is predictable like many older Americans hitting retirement age. But this only explains a small portion of the change since many older Americans are needing to […]
The New Normal for the American Dream – 3 Cornerstones: Low wage jobs, high levels of college debt, and a retirement that consists of working until you pass away.
There seems to be a growing acceptance that the American Dream is hardly as accessible as it once was. Low wage jobs, higher education tuition pushing many into untenable levels of debt, and a new vision of retirement all seem to connect into one new theme. The new theme revolves on a much more challenging […]