I listened to the podcast, but could not get a single actionable point. Too many loose rumblings. Maybe the only one (for me) will be to read L. Kotlikoff's book (which I have on Kindle) - to understand better what he means by controlled downside vs. upside open. Great concept but I am skeptical it's achievable. I am at pre-retirement age, have Larry's SW (and derived my scenarios in 2019) - and, unfortunately, will have to change many of my assumptions due to the sudden rise in interest rates, cost of RE, and cost of living (CPI = 2% in 2019, > 8% in 2022). Basically, we are heading (IMO) into 70-s, where stock market did nothing, and the economy stagnated. How to navigate times like that? There are no miracles, the truth is that US middle class will be decimated in 2020s.
OMG. What is she talking about re: student loans. I have a kid (along with my own) who has been living with us for years, but alays at risk of being a homeless youth. He got a scholarship to a state school, and he will be almost out of debt because he had Pell grants. Pell grants are mostly for low income students (not a very big voting block!! Why isn't anyone talking about how we didn't get to the culprits! the banks and schools that made kids take out predatory, usury rates. You want votes being bought? Lets talk about all the corporate welfare that should be abolished!! Then we can have a conversation about helping low income kids, who will never get jobs that can pay these loans back, about their supposed voting block influence. How ridiculous. And if one more well off person comes to me about how they paid back their 2% loans (back in the day) I will serioiusly heave. Hey Savage, show your politics much?
Not really... but as I really like your views and approach - I'll take your word for it. But giving social safety nets to the poor only helps society as a whole. If we had a
Not that much.... I couldn't listen after the worst program being student debt being a vote getter. Actually it will be a vote loser, because the much larger 40 - 55 voting block doesn't like it, in general.
I think it will lose votes. I think Biden knew that and still did it. Good to see he does things without regard to politics -- whether you like what he did or not.
I liked your article. A little heavy on the economics as I'm just a lowly small business owner, but I catch the drift. I don't disagree with a better moving forward (cap the banks and lending institutions rates? - too simple)... But for now - there needs to be relief. I had my office in the poorst part of NYC - Hunts Point in the Bronx. I worked in a business incubator with many young (I am not and was not then) black and brown young men and women. I was astonished and horrified to learn that once many if not all, had to leave college for a family reason, or because they couldn't afford food, or any number of reasons we can't even imagine, they would, of course miss a payment or two. Having never been in the "normal economy" only the secondary one (think quick paychex loan places) they understood nothing about these loans, nor did anyone at the colleges they attended (benefit of the doubt that the colleges were ignorant and had no time to help or teach these kids what they were signing on to), they could NEVER go back to school beacsue they could NEVER take another loan. Please please, form the bottom of my middle class, liberal heart, give these kids and their parents a break - and give the pentagon a little less money. The outlay will cost alot less, if we stop buying planes and arms that don't work, amongst, as I said many many corporate giveaways. As a 3X business owner, I'm all for free markets, but we don't have anything like a free market system, so lets build a social system that actually produces a productive and educated, thoughtful, next gen. PS Love the fact your son is a musician. Does his band have a name!!
I listened to the podcast, but could not get a single actionable point. Too many loose rumblings. Maybe the only one (for me) will be to read L. Kotlikoff's book (which I have on Kindle) - to understand better what he means by controlled downside vs. upside open. Great concept but I am skeptical it's achievable. I am at pre-retirement age, have Larry's SW (and derived my scenarios in 2019) - and, unfortunately, will have to change many of my assumptions due to the sudden rise in interest rates, cost of RE, and cost of living (CPI = 2% in 2019, > 8% in 2022). Basically, we are heading (IMO) into 70-s, where stock market did nothing, and the economy stagnated. How to navigate times like that? There are no miracles, the truth is that US middle class will be decimated in 2020s.
OMG. What is she talking about re: student loans. I have a kid (along with my own) who has been living with us for years, but alays at risk of being a homeless youth. He got a scholarship to a state school, and he will be almost out of debt because he had Pell grants. Pell grants are mostly for low income students (not a very big voting block!! Why isn't anyone talking about how we didn't get to the culprits! the banks and schools that made kids take out predatory, usury rates. You want votes being bought? Lets talk about all the corporate welfare that should be abolished!! Then we can have a conversation about helping low income kids, who will never get jobs that can pay these loans back, about their supposed voting block influence. How ridiculous. And if one more well off person comes to me about how they paid back their 2% loans (back in the day) I will serioiusly heave. Hey Savage, show your politics much?
Bailey, Someone is talking about the giveaways to the rich. I am. Please see https://larrykotlikoff.substack.com/p/the-republicans-need-their-own-student.
best, Larry
Also, I think Terry was saying that there are also lots of major freebees to the rich.
Not really... but as I really like your views and approach - I'll take your word for it. But giving social safety nets to the poor only helps society as a whole. If we had a
Not that much.... I couldn't listen after the worst program being student debt being a vote getter. Actually it will be a vote loser, because the much larger 40 - 55 voting block doesn't like it, in general.
I think it will lose votes. I think Biden knew that and still did it. Good to see he does things without regard to politics -- whether you like what he did or not.
I liked your article. A little heavy on the economics as I'm just a lowly small business owner, but I catch the drift. I don't disagree with a better moving forward (cap the banks and lending institutions rates? - too simple)... But for now - there needs to be relief. I had my office in the poorst part of NYC - Hunts Point in the Bronx. I worked in a business incubator with many young (I am not and was not then) black and brown young men and women. I was astonished and horrified to learn that once many if not all, had to leave college for a family reason, or because they couldn't afford food, or any number of reasons we can't even imagine, they would, of course miss a payment or two. Having never been in the "normal economy" only the secondary one (think quick paychex loan places) they understood nothing about these loans, nor did anyone at the colleges they attended (benefit of the doubt that the colleges were ignorant and had no time to help or teach these kids what they were signing on to), they could NEVER go back to school beacsue they could NEVER take another loan. Please please, form the bottom of my middle class, liberal heart, give these kids and their parents a break - and give the pentagon a little less money. The outlay will cost alot less, if we stop buying planes and arms that don't work, amongst, as I said many many corporate giveaways. As a 3X business owner, I'm all for free markets, but we don't have anything like a free market system, so lets build a social system that actually produces a productive and educated, thoughtful, next gen. PS Love the fact your son is a musician. Does his band have a name!!