Poll of the Day > They could have used $1.5 trillion to forgive everyone's student loans.

(+) Yeah! (+)

And that would have done a lot more for the economy than this.
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by "doing a lot more" you mean waste it right?
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Kimbos_Egg posted...

by "doing a lot more" you mean waste it right?

Well it gives more buying power to a lot of people, so theoretically it could but until we actually do it we won't know if it helps or hurts

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Kimbos_Egg posted...

by "doing a lot more" you mean waste it right?

Did you see what happened when they injected it into the market? The impact it had was gone in an hour. That was a waste. Giving 45 million people significantly more buying power would not be a waste.
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Kimbos_Egg posted...

by "doing a lot more" you mean waste it right?

Private debt cripples the economy.

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Did something happen while I was at work?

BlackScythe0 posted...

Did something happen while I was at work?

This x 3

https://twitter.com/dpakman/status/1238186431060815873
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I'm gonna confess that I have no idea what anything in that picture even means.

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AllstarSniper32 posted...

I'm gonna confess that I have no idea what anything in that picture even means.

https://theweek.com/articles/901853/feds-15-trillion-intervention-explained

Basically the Fed decided to intervene in the market crash via treasury bonds. 1.5 trillion in the blink of an eye. That chart shows you when it occurred; the effect on the crash only lasted about 15-30 minutes.

Now think what else could have been done with that 1.5 trillion.

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give money people who don't know how to handle money? it's like you give a dollar to panhandler and he'll just go buy booze or drugs.
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I'm going to guess none of you have anytthing invested in the stock market right now.

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Judgmenl posted...

I'm going to guess none of you have anytthing invested in the stock market right now.

they probably never argued that they shouldnt clean dog shit off their own bedroom walls either

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I never argued that.
Also people losing 50% of their savings over the course of the last month is more important than your shitty student loans. I've lost 30% of my 401k alone.

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I dont gamble

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magemaximus posted...

I dont gamble

Yea and I don't either.
I had 1000 of a Stock from my last company. Was Given them at $30 a share, sold them at $70. They peaked at $210 a few weeks ago.

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the market infusion was legitimately a very good thing, actually.

any attempts to try and spin it like it wasn't just shows that you don't understand the point of it.

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The US government never has any trouble finding money to help out the rich

talk about anything that that would help struggling people or the middle class though and all you hear is how will we pay for it

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GanonsSpirit posted...

This x 3

https://twitter.com/dpakman/status/1238186431060815873

That picture is hilarious since the values equalize almost immediately

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Judgmenl posted...

I'm going to guess none of you have anytthing invested in the stock market right now.

waaah line go down

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Do none of you have 401ks?
Do you guys even have jobs?

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No because I'm in school.

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Judgmenl posted...

Do none of you have 401ks?
Do you guys even have jobs?

Yeah but I'm not retiring in the next 3-5 years so...my losses won't be realized anytime soon.

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RCtheWSBC posted...

Yeah but I'm not retiring in the next 3-5 years so...my losses won't be realized anytime soon.

Yea but even with the rate we're putting in it's going to be visible at least.
I imagine anyone who's 60 years old right now is really messed up by losing potentially tens of thousands of dollars over the past couple of weeks.

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Judgmenl posted...

Yea but even with the rate we're putting in it's going to be visible at least.
I imagine anyone who's 60 years old right now is really messed up by losing potentially tens of thousands of dollars over the past couple of weeks.

For sure. Definitely sucks more for those close to retirement. Otherwise, there is no point in me trying to time the market; however, I did stop my automatic investment in my Roth IRA for the next 2 months. I'll need that money immediately.

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School shouldn't be so expensive but I can't help but laugh at these idiots that knowingly take on these giant student loans then want it all forgiven. Dont take on these loans if you arent damn sure you'll get a good paying job that will make you able to pay it back. Dont gamble on yourself and then whine like an entitled child when it doesn't work out

OhhhJa posted...

Dont take on these loans if you arent damn sure you'll get a good paying job that will make you able to pay it back.

Assumes everyone has access to the same levels of reliable information to make these determinations. Also, things change. The folks who graduated at the height of the Great Recession had rugs pulled out from under them, regardless of how well they planned in advance.

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shadowsword87 posted...

No because I'm in school.

and this infusion helps businesses stay around so there's something for you after school.

it also lets people keep their jobs.

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Chrono_Trigger posted...

and this infusion helps businesses stay around so there's something for you after school.

it also lets people keep their jobs.

I'm not stupid, I know why it was done. I'm just saying I, personally, have no actual direct involvement in the stock market.

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well maybe you should

now is legitimately the best time to get into it

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Nah, it invites stress on my life that I don't need.

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Judgmenl posted...

I never argued that.
Also people losing 50% of their savings over the course of the last month is more important than your shitty student loans. I've lost 30% of my 401k alone.

What about the people living paycheck to paycheck and might have their whole life fucked over if they, or one of their coworkers, catches it? That has nothing to do with student loans just the fact that they'll help businesses but but fuck everyone that's below upper middle class

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shadowsword87 posted...

Nah, it invites stress on my life that I don't need.

Not very stressful to invest in companies guaranteed to recover like Apple.
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Ok so apparently Trump wants to give money to billionaires and do nothing to help the people actually suffering from the effects the coronavirus is having or will have on the economy and people missing work.

BlackScythe0 posted...

Ok so apparently Trump wants to give money to billionaires and do nothing to help the people actually suffering from the effects the coronavirus is having or will have on the economy and people missing work.

Don't worry, you will at least know if you have it :v)

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Students knew what they were in for when they signed the dotted line

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JixHedgehog posted...

Students knew what they were in for when they signed the dotted line

boomers knew what they were doing when they agreed to gamble their retirement plans on late stage capitalism

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JixHedgehog posted...

Students knew what they were in for when they signed the dotted line

They generally didn't.

Tons of people working at walmart while having meaningful degrees (not art degrees). My generation was told their entire childhood that if they went to college they would get good jobs.

BlackScythe0 posted...

They generally didn't.

Tons of people working at walmart while having meaningful degrees (not art degrees). My generation was told their entire childhood that if they went to college they would get good jobs.

Also that if you didn't go to college you were an idiot, as college was the default path after high school for everyone, regardless of your goals, intelligence, or financial situation.
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OhhhJa posted...

School shouldn't be so expensive but I can't help but laugh at these idiots that knowingly take on these giant student loans then want it all forgiven. Dont take on these loans if you arent damn sure you'll get a good paying job that will make you able to pay it back. Dont gamble on yourself and then whine like an entitled child when it doesn't work out

So nobody should ever go to college anymore, then?

shadowsword87 posted...

Nah, it invites stress on my life that I don't need.

I agree...

shadowsword87 posted...

Don't worry, you will at least know if you have it :v)

Not until they let people who dont fit the criteria get tested...
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LinkPizza posted...

I agree...

https://gamefaqs.gamespot.com/boards/3-poll-of-the-day/78469402/935636750
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Revelation34 posted...

https://gamefaqs.gamespot.com/boards/3-poll-of-the-day/78469402/935636750

Those stocks are still high in price, though. I dont have money to waste just to buy some to sell later. I need the money I make. And Ill be stress the whole time not know when to sell, if I can even get them in the first place. So, again:

LinkPizza posted...

it invites stress on my life that I don't need.

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LinkPizza posted...

So nobody should ever go to college anymore, then?

I was able to get scholarships going into college because my grades were good. Depending on your state there are many scholarships that you can be eligible for. Go to trade school if you weren't cut out for college. You can make good money learning a trade without having to spend a 100 grand on school because you feel you are entitled to a white collar job

OhhhJa posted...

I was able to get scholarships going into college because my grades were good. Depending on your state there are many scholarships that you can be eligible for. Go to trade school if you weren't cut out for college. You can make good money learning a trade without having to spend a 100 grand on school because you feel you are entitled to a white collar job

Its not always about entitlement. But how people were raised. They were raised to go to college. And while there are some scholarships, not EVERYONE can get them. Meaning there will always be people who cant. Not only that, but that still doesnt guarantee you a job. As for trade school, that only helps out so much, as well. Because if everyone who cant get a scholarship goes, then there will be a huge over abundance of people who all want the same jobs. And under abundance for the college jobs.
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Also the military will pay for your school. A buddy of mine went to the citadel and went into the army as an officer. There are also tons of companies that will pay for your school if you work for them. This is all information that is readily available and I don't care if you were only 18 you are dumb if you take on giant student loans because there are many other options

OhhhJa posted...

Also the military will pay for your school. A buddy of mine went to the citadel and went into the army as an officer. There are also tons of companies that will pay for your school if you work for them. This is all information that is readily available and I don't care if you were only 18 you are dumb if you take on giant student loans because there are many other options

I know that. Im on the military. Though, they do have lots of rules surrounding it.

Some companies might pay, but thats usually if you know someone, or if youre already really good at something. Most people go to college to learn something, or get better at it...

Also, officer is a little different as you have to have a degree before you can really become one. Where n enlisted, you just use TA. You can only use so much a year, though. And thats if you have time. And you usually cant go full time. The GI Bill works differently, though. You can do whatever you want with it. Including giving it to someone else...

In the end, not everyone has thins information or even knows it exist due to how they were raised. If you know, good for you. Not everyone is you. And just because they dont know doesnt mean theyre stupid. They were just raised a certain way...

Having the loans forgiven seems like it might have been nice for them instead of putting it all back in the market.
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LinkPizza posted...

I know that. Im on the military. Though, they do have lots of rules surrounding it.

Some companies might pay, but thats usually if you know someone, or if youre already really good at something. Most people go to college to learn something, or get better at it...

Also, officer is a little different as you have to have a degree before you can really become one. Where n enlisted, you just use TA. You can only use so much a year, though. And thats if you have time. And you usually cant go full time. The GI Bill works differently, though. You can do whatever you want with it. Including giving it to someone else...

In the end, not everyone has thins information or even knows it exist due to how they were raised. If you know, good for you. Not everyone is you. And just because they dont know doesnt mean theyre stupid. They were just raised a certain way...

Having the loans forgiven seems like it might have been nice for them instead of putting it all back in the market.

I wasn't raised by a rich or college educated family. At least definitely not my immediate family. But I'm not gonna blame anyone for not getting information about stuff when the Internet is right there to help you

I'm also very against government bailouts of corporations but these are definitely unique circumstances regarding the economy.

OhhhJa posted...

I wasn't raised by a rich or college educated family. At least definitely not my immediate family. But I'm not gonna blame anyone for not getting information about stuff when the Internet is right there to help you

You gotta think about the internet back them, though. Its wasnt as helpful 10 years ago as it is today. And not everybody has access to the internet or a computer. Or a way to get there, depending on where you live. Or knows there is information out that can help them. Again, good for you that you knew. But not everybody is you...
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Folks overburdened with debt they agreed to after being given years of false promises, working multiple jobs but struggling to pay rent, healthcare costs and childcare, are obviously the ones to blame

because personal responsibility

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People can make all the excuses they want but shit decisions are shit decisions even if you are a young adult