Thursday, October 23, 2008

All the king's horses....

With the economy seeming to be in shambles due to misregulation, idiotic business practices, manipulative marketing, poor consumer education, and enough bad decisions for everyone to take a pint or two I as a university student have to step back and take a look at a system that has placed a rather large burden on people like me.

Namely: Student loans.

One of the large problems with today's ease of going to college is the price of that same ease. Student loans are given out to people fresh out of high school with little or no money management skills. Most of them have very little concept of value or money, let alone how to plan to pay for something that is only getting more expensive with each passing day.

For some, they are told that they are making an investment. That the money they spend now will be paid back before they know once they are out in the real world and have a nice job where the money just rolls in.

Bull shit.

Unless you are getting one of those generic degrees that will always be needed (business, education, hospitality, medicine, ect) then your chances of finding that perfect job waiting for you is just slightly higher than rolling a thirteen in a game of craps.

This leaves a lot (read majority) of students entering the economy in the red with no real understanding of how to fix it except to throw some money at it and eventually it will go away.

Debt is a bad, bad thing for an economy. Especially when its largest consumers (young professionals and families trying to keep things running smoothly) are trying to fill a hole dug just to get them into a position so that they can make a decent go at making a living.

So, time to get down to the point.

Why do we encourage people to go into debt? It makes no long term sense! What the fuck is the point of making a ton of money one day, only to go bankrupt the next?

This current generation of graduates are inheriting what can only be described as a monetary clusterfuck, and are steamrolling along with debt up to their eyeballs ready to make the situation worse.

People, we all need to wake the fuck up and start doing this thing called saving that has fallen out of vouge in the last couple of decades.

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