Student debt bubble popping

[torchbearer]

His term is up January 31st, 2014 which is actually just over a year from now (14 months). I expect the economy to still be limping along at that time and not into overdrive with soaring inflation.

our perception of the real price increases due to monetary inflation is what must be different.
I make a good bit of money for this area... at least enough that someone could live comfortable. I am a specialist in a few esoteric fields.
well, that used to be true... about 6 years ago things started to get tighter, but nothing to be alarmed about. 3 years ago, all frills were cut back to almost nil just to make the bills.. same assets, same amount of bills. the only thing that has changed is the cost of everything I buy.
and now, I have to go to my boss and ask for more money, just so I am not taking a huge pay decrease.
this is why money creation is theft, and its immoral.

 

[LibForestPaul]

July 12, 1976 1011 Highest point between Jan '73 and Oct. '82

Gold was around $130

See, let's play these stupid games all day long.

Oh no, March 6, 2009 6,626.94
Gold Price Close That day : 922.60

so do the math.

which is higher now...GOLD!

But none of this is relevant, as long as their is no free market. Gold is not even a store of value, more of an insurance policy now. Since people livelihoods and savings are at the whim and mercy of those with guns who obey those with fiat money. I have no idea what faux dollar commidity will be worth tomorrow. But I know gold will always be worth something. They didn't confiscate confederate dollars in 1933, they confiscated gold. Central banks don't hold Argentinian Reals, they hold tons of gold. Russian rubles aren't leased, gold is.

 

[Danke]

But none of this is relevant, as long as their is no free market. Gold is not even a store of value, more of an insurance policy now. Since people livelihoods and savings are at the whim and mercy of those with guns who obey those with fiat money. I have no idea what faux dollar commidity will be worth tomorrow. But I know gold will always be worth something. They didn't confiscate confederate dollars in 1933, they confiscated gold. Central banks don't hold Argentinian Reals, they hold tons of gold. Russian rubles aren't leased, gold is.

I was trying to make the point that arbitrarily picking dates can skew the results. Something lost with Zippyjuan, but no surprise.

 

[Zippyjuan]

I was trying to make the point that arbitrarily picking dates can skew the results. Something lost with Zippyjuan, but no surprise.

Not at all. I showed additional ways the dates picked can skew results.

 

[ronpaulfollower999]

Unless you are EXTREMELY precise in your line of future work (say, hellbent on being a General Practioner, MD), stay out. Go make some money and aquire skills and resources.

Do not go to University/College unless you really know what you want. If you do not know what you want, stay out (for now).

As someone who is attending his second year in college, I strongly urge you to follow Seraphim's advise. Strongly.

Graduate high school. Get a decent job (not talking $50k, but something to get you a little extra cash). Get together with some friends and see the country/world. Last thing you want is to waste a couple semesters studying stuff you don't care about, only to change your major and have to start all over again.

Unfortunately, and this was the case for me, pretty much all high schools pressure students to go to college after graduating. I imagine it's all part of the bubble.

 

[ronpaulfollower999]

Yes. Because a person who bought gold at $500 in 1988 had to wait until 2005 to get his money back.

Or a person who bought gold at 700 in 1980 had to wait until 2006.

What do we call somebody who buys something and can't get his money back for 17-26 years?

I hear someone who held onto a dollar bill in 1970, can buy a hell of a lot less today. Gold is not an investment to make money, it's a storage of wealth.

 

[Danke]

Not at all. I showed additional ways the dates picked can skew results.

Which was already pointed out previously, and you chime in to reiterate it.

No agenda there...

 

[Steven Douglas]

I hear someone who held onto a dollar bill in 1970, can buy a hell of a lot less today.

I've heard the same thing rumored in the past, I wonder if there's anything to it?

Come to think of it, a candy bar was exactly five cents back in 1964. I remember, I was there, and bought them for a nickel myself. So a paper dollar in 1964 would buy 20 candy bars. I also heard that if someone made change for a paper dollar in 1964 and got half dollars, quarters or dimes instead, and kept those alongside a paper dollar of the same date, in 2012 that paper dollar would be worth less than one candy bar, while the coins that made up a dollar would be worth around $25 in paper bills (and climbing) -- or more than twenty candy bars!

Gee, the value of the coins, and not for any collectors value, actually increased a bit since 1964. Go figure.

 

[newbitech]

You don't really have "your" social security funds (and neither do "they"). There is no "trust fund" where the money you pay in is kept safe and invested until you are elgible to collect on it. Taxes taken in this year pay expenses for this year.

i doubt taxes paid this year pays for expenses this year.

 

[heavenlyboy34]

But none of this is relevant, as long as their is no free market. Gold is not even a store of value, more of an insurance policy now. Since people livelihoods and savings are at the whim and mercy of those with guns who obey those with fiat money. I have no idea what faux dollar commidity will be worth tomorrow. But I know gold will always be worth something. They didn't confiscate confederate dollars in 1933, they confiscated gold. Central banks don't hold Argentinian Reals, they hold tons of gold. Russian rubles aren't leased, gold is.

What do you mean? Gold is worth roughly what it always has been. It's the dollar that's changed in value relative to gold. By traditional definitions of "money", gold is a store of value.

 

[HOLLYWOOD]

Student Debt on steroids... the bubble to "POP" has gone from a Zit to a Cyst. gonna get painful and ugly down the road.

 

[Zeeder]

Is this the fake Ron Paul forums? Seems an awful lot of statist and anti-austrians on here. Ron Paul is foremost an economics guy. Yet, we still have people not understanding the dollar collapse. So to answer every question in this thread.

1. If Volker didn't raise interest rates to 20%, gold at 800 would have been a steal in 1980.
What happens if they try this again with the current debt? Do the math on that one, and you will find they can't do it again. That's how you know that this isn't a 1980 repeat.

a)Ron Paul bought gold when it was 40 dollars per ounce. He understood that governments debase currency. It's what statist do.

2) The student loans should have never been issued. The government has no business backing them. In a free market you take a chance by loaning people money, therefore you are careful about it. Banks aren't careful because they are bailed out. They control the government, and have eliminated bankruptcy.

Students should pull an iceland and default. In a free-market nobody in their right minds would give a loan to an 18 year old for a political science degree. You don't loan money at all without some sort of collateral. and the collateal can't be "The government will torture and steal from someone for me". You make the loan. You suffer the consequences.
Should taxpayers pay for this? LOL When has the answer to that question ever been no? It's always yes. Taxpayers Shouldn't be paying for Social Security, Medicare, Medicaid, moronic wars, Publc Broadcasting. Public schools etc...........................
The collapse should be welcomed by tax slaves.

 

[heavenlyboy34]

Is this the fake Ron Paul forums? Seems an awful lot of statist and anti-austrians on here. Ron Paul is foremost an economics guy. Yet, we still have people not understanding the dollar collapse. So to answer every question in this thread.

1. If Volker didn't raise interest rates to 20%, gold at 800 would have been a steal in 1980.
What happens if they try this again with the current debt? Do the math on that one, and you will find they can't do it again. That's how you know that this isn't a 1980 repeat.

a)Ron Paul bought gold when it was 40 dollars per ounce. He understood that governments debase currency. It's what statist do.

2) The student loans should have never been issued. The government has no business backing them. In a free market you take a chance by loaning people money, therefore you are careful about it. Banks aren't careful because they are bailed out. They control the government, and have eliminated bankruptcy.

Students should pull an iceland and default. In a free-market nobody in their right minds would give a loan to an 18 year old for a political science degree. You don't loan money at all without some sort of collateral. and the collateal can't be "The government will torture and steal from someone for me". You make the loan. You suffer the consequences.
Should taxpayers pay for this? LOL When has the answer to that question ever been no? It's always yes. Taxpayers Shouldn't be paying for Social Security, Medicare, Medicaid, moronic wars, Publc Broadcasting. Public schools etc...........................
The collapse should be welcomed by tax slaves.

You put it better than I have when this subject comes up. Thanks!

 

[Zeeder]

You put it better than I have when this subject comes up. Thanks!

Your welcome!

I'd like to add that taxpayers are already paying for all this. It isn't in the form of taxes directly, but the cost of college education exceeds inflation because of the all the loans. You can't afford to send your kid to college..........so you have to get these loans..............which increases the price.............so others have to get loans. It's a disgusting cycle like the housing boom. College shouldn't cost anywhere near what it does.
And what does ron paul call this? An inflation tax. See how I added Ron Paul in there. It should be required that you reference Ron Paul in every post.