White people make excuses why they cant have kids ?

[Thebrownblob]

do you have any idea how much more expensive property is relative to incomes?

the banks create debt. they create money. we need periodic debt write downs, like biden did a little with college, like obama did with wall street.

We already have that in America. It’s called personal bankruptcy. Everything except college can be wiped out.

 

[rickyb]

We already have that in America. It’s called personal bankruptcy. Everything except college can be wiped out.

obama didnt write off housing debt in 2008 he wrote off wall st debt. housing prices are high, consumers are very indebted.

 

[Thebrownblob]

obama didnt write off housing debt in 2008 he wrote off wall st debt. housing prices are high, consumers are very indebted.

Consumers also have the benefit of equity. Should we wipe out their equity as well?

 

[rickyb]

Consumers also have the benefit of equity. Should we wipe out their equity as well?

I forget but michael hudson wrote a book on this and he said we write off housing debts with banks profits

Its biblical. Richard wolff talked about it too

 

[Thebrownblob]

I forget but michael hudson wrote a book on this and he said we write off housing debts with banks profits

Its biblical. Richard wolff talked about it too

I do not agree with you about writing off housing debt when it is an asset that appreciates. Other non-appreciating debts I could agree with.

 

[rod]

I don't agree with writing off ANY debt unless it's for a MAJOR hardship. Live within your means. Why should some get his debt forgiven just because he can't manage his money. Why is it every time you see someone on the internet complaining about how broke they are or how life is so unfair they have a pack of $10.00 cigarettes in their pocket?

 

[oldngray]

I don't agree with writing off ANY debt unless it's for a MAJOR hardship. Live within your means. Why should some get his debt forgiven just because he can't manage his money. Why is it every time you see someone on the internet complaining about how broke they are or how life is so unfair they have a pack of $10.00 cigarettes in their pocket?

and the latest iPhone

 

[rickyb]

I don't agree with writing off ANY debt unless it's for a MAJOR hardship. Live within your means. Why should some get his debt forgiven just because he can't manage his money. Why is it every time you see someone on the internet complaining about how broke they are or how life is so unfair they have a pack of $10.00 cigarettes in their pocket?

Have you not noticed housing prices relative to incomes

If they have smokes, maybe theyre addicted

 

[Thebrownblob]

I don't agree with writing off ANY debt unless it's for a MAJOR hardship. Live within your means. Why should some get his debt forgiven just because he can't manage his money. Why is it every time you see someone on the internet complaining about how broke they are or how life is so unfair they have a pack of $10.00 cigarettes in their pocket?

Totally reasonable take, the only thing I really think should be easily dischargeable is ridiculous medical debt. But Most people get into debt because they’re being irresponsible.

 

[Doublestandards]

I don't agree with writing off ANY debt unless it's for a MAJOR hardship. Live within your means. Why should some get his debt forgiven just because he can't manage his money. Why is it every time you see someone on the internet complaining about how broke they are or how life is so unfair they have a pack of $10.00 cigarettes in their pocket?

But it’s ok for Trump to file for business bankruptcy 6 times while he’s flying around in private jets and pissin in gold toilets?

 

[rod]

But it’s ok for Trump to file for business bankruptcy 6 times while he’s flying around in private jets and pissin in gold toilets?

I never said that.

 

[rod]

Totally reasonable take, the only thing I really think should be easily dischargeable is ridiculous medical debt. But Most people get into debt because they’re being irresponsible.

That would fall under "Major hardship" in most cases. I had over $300,000 in medical expenses last year and that would have even made a good size dent in my life style if not for VA coverage. Thankfully all but about 20 bucks of that was covered----otherwise I would have had to put my wife back to work---not me--just the wife.

 

[vantexan]

But it’s ok for Trump to file for business bankruptcy 6 times while he’s flying around in private jets and pissin in gold toilets?

Sure is. That's separate from his personal finances and is a strategy many business owners use no matter what political affiliation they are because often businesses just don't work.

 

[Doublestandards]

Sure is. That's separate from his personal finances and is a strategy many business owners use no matter what political affiliation they are because often businesses just don't work.

Well declaring bankruptcy for individuals is a strategy that works for them also apparently

 

[vantexan]

Well declaring bankruptcy for individuals is a strategy that works for them also apparently

Pretty sure his bankruptcies were business ones.

 

[Doublestandards]

Pretty sure his bankruptcies were business ones.

You’re right, I was responding to someone else talking about personal bankruptcies “Why should some get his debt forgiven just because he can't manage his money.”

Just seems hypocritical to me to care about that but not care about Trump doing it 6 times just because it’s a business

 

[vantexan]

You’re right, I was responding to someone else talking about personal bankruptcies “Why should some get his debt forgiven just because he can't manage his money.”

Just seems hypocritical to me to care about that but not care about Trump doing it 6 times just because it’s a business

Big difference. Business bankruptcies aren't often a clean slate wiping away debt. They often involve restructuring the business while being protected from creditors until they are able to start paying again. When it's determined that they can't go on then the court oversees the selling off of assets to pay creditors. Good deal different than someone taking a loan and then with forgiveness the Federal government uses tax money to pay off loan. Biden was proposing forgiving tens of billions of dollars including for people with high enough salaries to pay their loans. With the country in serious debt already and just to buy votes.

 

[Doublestandards]

Big difference. Business bankruptcies aren't often a clean slate wiping away debt. They often involve restructuring the business while being protected from creditors until they are able to start paying again. When it's determined that they can't go on then the court oversees the selling off of assets to pay creditors. Good deal different than someone taking a loan and then with forgiveness the Federal government uses tax money to pay off loan. Biden was proposing forgiving tens of billions of dollars including for people with high enough salaries to pay their loans. With the country in serious debt already and just to buy votes.

Are you referencing the student loans? Because imo that’s another predatory racket. Giving kids fresh out of high school tens of thousands of dollars in loans and they can never declare bankruptcy on it? All while being told day in and out that they need to go to college to have a good career. No problems giving the kids loans for that which they can’t wipe, but they won’t give them a loan for a house which they could at least live in and build equity off of. But they’d rather have them pay rent to some landlord while starting off their new life drowning in debt.

I feel soooo lucky I didn’t follow through with school and went to ups and did my side gigs with it.

 

[vantexan]

Are you referencing the student loans? Because imo that’s another predatory racket. Giving kids fresh out of high school tens of thousands of dollars in loans and they can never declare bankruptcy on it? All while being told day in and out that they need to go to college to have a good career. No problems giving the kids loans for that which they can’t wipe, but they won’t give them a loan for a house which they could at least live in and build equity off of. But they’d rather have them pay rent to some landlord while starting off their new life drowning in debt.

I feel soooo lucky I didn’t follow through with school and went to ups and did my side gigs with it.

That's what parents are for. And a lot of "kids" major in things that don't translate into a well paid career. But what gets me is Biden was offering forgiveness to individuals who make up to $125k a year. And $250k for couples. You can make an argument for assisting those making $35k a year but $125k? What, paying back loans keeps them from driving a new Tesla to Starbucks?

 

[Doublestandards]

That's what parents are for. And a lot of "kids" major in things that don't translate into a well paid career.

that’s what gets me though, a lot of people have crappy parents. I just feel so grateful and lucky for what I have in life, and I am disciplined and worked for it, but a lot of it also feels like luck and fate. I know that I personally would have a way different life path if I had a different upbringing.

And as for the majoring in things that don’t pay well, that’s kind of my point about the loans being predatory. A kid can’t go into a bank and get a loan for a wacky business idea, but they can get a massive loan to major in whatever they choose