4 ms·

I find it deeply ironic that our legislators find that 17 and 18 year olds are too young and irresponsible to drink alcohol. That experience is reserved for the

I find it deeply ironic that our legislators find that 17 and 18 year olds are too young and irresponsible to drink alcohol. That experience is reserved for the 21 and older crowd. Signing up for 4 year plan at 17 and 18 years old that gives the young person $100,000 dollars inexpugnable debt by the time the young person turns 21, no problems with this at all. This whole system is headed for a major reckoning.

liqu0rice 8y ago
You're old enough to kill but not for votin' (1964) [0] [0] https://en.m.wikipedia.org/wiki/Eve_of_Destruction_(song) https://en.m.wikipedia.org/wiki/Eve_of_Destruction_(song)
skookumchuck 8y ago
17 and 18 year olds have no assets and no credit history, so there's no recourse for the lender. The reason for the inexpungable debt is so lenders will be willing to lend to them. Otherwise, you'll have people graduating, declaring bankruptcy, and getting a free ride through college sticking lenders with the bill.
- candiodari 8y ago
  So what you're saying is people would be robbing the banks, rather than the other way around ! That would be SO unfair ! Say, what happened in 2008, when lenders couldn't pay their bills ? These arguments would make sense if they were applied consistently. But in practice, socialism for the rich, debtor prisons for the poor.
  - skookumchuck 8y ago
    I didn't agree with the bailout.
  - eftychis 8y ago
    The bailout should not have happened perhaps. Banks have trapped us into the too big to fail, we are above the law. Think it like this: You have a sibling that is a bad gambler. They play roulette and lose big as expected and drive the whole families finances to the bottom. They then go to your parents complain that roulette is bad and ask your parents to bail them out. Your parents instead of punishing your sibling and make them repay the debt, say that it is fine please don't do it again and we don't want you to declare bankruptcy, but we will have your brother/sister (that is you) pay the bills.
- rabboRubble 8y ago
  Yeah, I know all that already. Those reasons and circumstances do not make it acceptable for young people to be permitted to sign away decades of their life to a debt servitude. This system is putting a huge strain on the economy and national birth rate. Debt burdened people in their 20s and 30s can not buy homes, which in turn screws the real estate market, which in turn screws the home related cyclical industries. Young people are delaying having children because they can not afford them, which in turn impacts all child goods industries, and long term will affect the viability of our SSI / Medi* programs. This low birth rate is why we depend so much on immigrants to keep a stable population. The way the entire system works is pennywise and pound foolish.

liqu0rice 8y ago

You're old enough to kill but not for votin' (1964) [0] [0] https://en.m.wikipedia.org/wiki/Eve_of_Destruction_(song) https://en.m.wikipedia.org/wiki/Eve_of_Destruction_(song)

skookumchuck 8y ago

17 and 18 year olds have no assets and no credit history, so there's no recourse for the lender. The reason for the inexpungable debt is so lenders will be willing to lend to them. Otherwise, you'll have people graduating, declaring bankruptcy, and getting a free ride through college sticking lenders with the bill.

candiodari 8y ago
So what you're saying is people would be robbing the banks, rather than the other way around ! That would be SO unfair ! Say, what happened in 2008, when lenders couldn't pay their bills ? These arguments would make sense if they were applied consistently. But in practice, socialism for the rich, debtor prisons for the poor.
- skookumchuck 8y ago
  I didn't agree with the bailout.
- eftychis 8y ago
  The bailout should not have happened perhaps. Banks have trapped us into the too big to fail, we are above the law. Think it like this: You have a sibling that is a bad gambler. They play roulette and lose big as expected and drive the whole families finances to the bottom. They then go to your parents complain that roulette is bad and ask your parents to bail them out. Your parents instead of punishing your sibling and make them repay the debt, say that it is fine please don't do it again and we don't want you to declare bankruptcy, but we will have your brother/sister (that is you) pay the bills.
rabboRubble 8y ago
Yeah, I know all that already. Those reasons and circumstances do not make it acceptable for young people to be permitted to sign away decades of their life to a debt servitude. This system is putting a huge strain on the economy and national birth rate. Debt burdened people in their 20s and 30s can not buy homes, which in turn screws the real estate market, which in turn screws the home related cyclical industries. Young people are delaying having children because they can not afford them, which in turn impacts all child goods industries, and long term will affect the viability of our SSI / Medi* programs. This low birth rate is why we depend so much on immigrants to keep a stable population. The way the entire system works is pennywise and pound foolish.