The NEXT BUBBLE JUST BURST: Over $120 Billion In Federal Student Loans In Default

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posted on Oct, 1 2012 @ 12:33 AM
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reply to post by jhn7537
 


I'm guessing he means the coming financial crisis and planned collapse, combined with NAU, being overrun with illegals who are looking to take back several states for Mexico, riots, protests, civil unrest not unlike what we are seeing in Spain and Greece, austerity movements and high taxes.....FEMA camps, terrorist attacks, etc ad nauseum, you name it.




posted on Oct, 1 2012 @ 12:33 AM
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Originally posted by jhn7537

Originally posted by AGWskeptic
Most people have no idea whats coming, but they know what Kim Kardashian had for lunch last tuesday.


I'm still not sure if my strategy of selling my McManshion and paying cash for a HUD foreclosure while also cashing in my stocks and paying off all of my debt was the right move.

With the sheer amount of unrecoverable debt out there my little chunk wouldn't really mean much if the system crashed.

And if things get bad enough even a clear deed on a paid for house might not be worth the paper it's written on.


Would you care to fill us all in with what you know? What's coming? Any specific thoughts or is it just doom-gloom/end of times?


The entire economy is teetering.

And nobody is even talking about unfunded government obligations, the numbers there are mind boggling.

Social Security has been raided so many times it's like the briefcase on Dumb and Dumber, full of nothing but IOU's. When the debt ceiling debate was heating up Obama wasn't kidding when he said checks wouldn't go out, the money isn't physically there, it's been loaned out to fund other programs.

It's a house of cards that will come crashing down. Millions of Americans are counting on their public sector pensions, and the money just isn't there.

Where will they get it? We already borrow 41 cents of every dollar we spend, and that ratio is going up fast.



posted on Oct, 1 2012 @ 12:34 AM
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i have student loan debt, i would have been fine if i was able to get my license, but due to a criminal past i can't till i clear it up, i'm also on food stamps and lost my job...praying for miracles


i would forgive all debt and start over with a new way, teach humanity, care for humanity and raise consciousness.



posted on Oct, 1 2012 @ 12:35 AM
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Originally posted by ThirdEyeofHorus
reply to post by jhn7537
 


I'm guessing he means the coming financial crisis and planned collapse, combined with NAU, being overrun with illegals who are looking to take back several states for Mexico, riots, protests, civil unrest not unlike what we are seeing in Spain and Greece, austerity movements and high taxes.....FEMA camps, terrorist attacks, etc ad nauseum, you name it.


It sounds like paradise



posted on Oct, 1 2012 @ 12:49 AM
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I found myself stuck in a church for a few hours this weekend and took the time to reread my favorite parts of the bible.

I really love Leviticus, the basic rulebook for old testament living.

In Leviticus they strongly state that you shall charge no interest to your neighbor if he needs a loan. Interest is considered an abomination to the lord.

Except for the priests. They had a great scam, it was all about percentages for then, they set the prices for everything, and kept the choicest cuts of meat and the finest grains for themselves, all in the name of the lord of course, it was strictly legal.

You could even be forgiven your sins if you gave your lands to the lord, and then you could buy them back for a 20% markup. And you couldn't be sold into slavery to your neighbor, for your behind belonged to the lord, but the priests got a cut if you did. I'm not joking, look it up.


I bring this up to show how some things never change. The folks in charge, whether they're called priests or presidents, have the deck stacked in their favor.

Some things never change.


The charging of interest turns everyone into modern day debt slaves.



posted on Oct, 1 2012 @ 04:25 PM
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reply to post by ConspiracyBuff
 


You hit the nail on the head those effin baby boomers will not go away.... If they do retire they come back as contractors for less pay screwing out anyone new out of a job. I just happened to get into my job as a fluke, someone was sleeping on the job keeping new blood out.
edit on 1-10-2012 by votan because: (no reason given)



posted on Oct, 1 2012 @ 07:55 PM
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reply to post by pajoly
 


Yep... Socialism is the answer to everything...

And if you believe that, I've got a Bridge in Brooklyn to sell you.



posted on Oct, 1 2012 @ 08:28 PM
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I was stupid as some as the posters here confessed themselves. Ahh the folly of youth. .
I got a masters in a field I love.. and found I could NOT make little real life money doing what I really wanted to do. Went back and became an RN with an emergency medicine specialty seriously making bank for less of an investment than my masters.
THEN I finally paid off my student loans ( since my father refused to allow me to take grants or tribal grants) when I was in my 30's. Since then the economy has went to hell in a handbasket. I do not see how young grads can make it these days. It was relatively easy for me to pay back.. I made great money and made good decisions for my life. Jobs were better, more plentiful, and everything was cheaper though.


This has been something Ive been struggling with since when I was younger to get a degree was 'IT". Now, not so I dont believe. I am starting to think that those with a skill will trump any liberal arts ( or other fluff degree) degree pretty soon
It will not be enough to be trapped in a loan or have a BS degree.. employers will need results and skill. Hopefully the degree obsessed job market will correct itself asap. Personally Id hire a kid ( Im old.. so anyone under 30 is a kid I guess!) with real experience and no higher ed or degree than a degreed newbie to the field. I think any other business owner that wants to keep their heads above water in the time to come will see the sense in that sooner rather than later. I helped my fam business out at times.. they own a few mid and lg corps. I did hiring and firing for my grandfather.. since he asked. I hired people who could do the work. I didnt care if they had a degree.. I really didnt care if they graduated HS ( gasp gasp) .. IF they could do the work. I got results. WHen you hire someone you lose money in training and etc. I didnt want to lose money. I wanted to invest in a hard working reliable employee... regardless of social feathers in their cap. I then moved away and my uncle took that over.. hired for degrees and paper BS. Didnt produce the master race of workers he thought.


The country was built on hard work and ingenuity.. NOT pieces of paper. I welcome those sort of days to return.
edit on 1-10-2012 by Advantage because: (no reason given)



posted on Oct, 1 2012 @ 09:06 PM
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Originally posted by ThirdEyeofHorus

Please don't forget we are having an unemployment crisis. If you can even get a job at McD's you cannot live on that and still pay your student loan. If you can't find a job, you are just &^%$ out of luck.



The REAL evil side to college is that all these colleges offer people who really should never have gone to college in the first place crap degrees. In the older days these were commonly referred to as basket weaving degrees and most that go to college get one.They then finish college with 50k in debt and find that their degree will get them a job at BK....oh, just like their high school certificate would too.

That is where the scam is...people who do not have the capabilities or willpower to get one of the degrees that will land them a job BEFORE they graduate are offered degrees that they can get, but mean little in the job market.



posted on Oct, 1 2012 @ 11:53 PM
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Originally posted by JimmyNeutron
reply to post by pajoly
 


Yep... Socialism is the answer to everything...

And if you believe that, I've got a Bridge in Brooklyn to sell you.


it is the answer, do you even know what socialism is?


lol,

look up the happiest countries on this planet and yep, they are socialist countries



posted on Oct, 2 2012 @ 12:08 AM
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reply to post by loam
 


The only problem with this is you cannot go bankrupt on a student loan. Rather those defaulting will have continual debt with the government. I wouldn't be surprised to see a bill passed creating jobs for those needing to work off their loan. Some people say this is indentured servitude. I say its what is needed in this economy for those who took out loans to be able to repay those loans. If you have no job, paying back a loan is impossible.



posted on Oct, 2 2012 @ 01:15 PM
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Originally posted by cornucopia

Originally posted by JimmyNeutron
reply to post by pajoly
 


Yep... Socialism is the answer to everything...

And if you believe that, I've got a Bridge in Brooklyn to sell you.


it is the answer, do you even know what socialism is?


lol,

look up the happiest countries on this planet and yep, they are socialist countries


That is a topic for a different thread... I respectfully disagree with your opinion. Look up my posts on this topic and answer the questions - then question the premise of your belief.

Please do not infer that I am supporting or advocating the U.S. version of capitalism (which really now amounts to a version of fascism) either.



posted on Oct, 3 2012 @ 01:12 PM
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You're preaching to the choir Prof.
reply to post by trekwebmaster
 

Oh, believe me , I know. Unfortunately, not everyone on this thread is in the choir. There were some that had the "entitlement attitude", and felt that all of their problems were someone else's responsibility, and that the government(meaning us) should pay for things they want, such as post secondary education, health care, and just about anything else not mentioned in the Constitution, as a government's responsibility. It is people like that that are causing our economic problems. As to the educational system problems, yes, I AM preaching to the choir, in your case.
Peace.






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