The full scale and scope of the student loan debt bubble is far from fully understood. Millions of young Americans continue to be encouraged to go to massively expensive universities for useless undergraduate degrees. The result has been a generation of young people with thousands of dollars in debt and no preparation for today’s job market.
Parents and their high school aged children need to take a serious look at whether college is a sound investment anymore. Statistics are regularly thrown around about how college graduates make much more money than those with a high school education. But what about the trades? What about more profession-specific schooling? What about the thousands of dollars of debt they will struggle to pay off for decades? Millions of college graduates are now unable to buy a house, start a business, or buy a car because of the mountain of student loan debt they have. These loans are not backed up by any real asset, therefore, a massive wave of defaults is coming and has already started to begin.
Eerily similar to subprime lending circa 2008 is it not?
http://www.investmentwatchblog.com/the-real-debt-bubble-that-will-destroy-america/
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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