4um: The Student Debt Albatross: NY Millennials Owe $90 Billion, 50% Work In Restaurants To Pay

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Title: The Student Debt Albatross: NY Millennials Owe $90 Billion, 50% Work In Restaurants To Pay
Source: [None]
URL Source: https://www.investmentwatchblog.com ... 50-work-in-restaurants-to-pay/
Published: Feb 8, 2019
Author: staff
Post Date: 2019-02-08 18:28:43 by Horse
Keywords: None
Views: 99
Comments: 6

….nearly one in two millennials in New York are now reportedly tending bar or waiting tables to help pay off their student loan debt, as well. A new analysis shows that thousands of borrowers work as bartenders and waiters while paying down their student debts and seeking “more gainful employment” in their chosen field…….New York state’s outstanding student debt now totals $90.6 billion: 45% of adults 18 to 35 in New York state owe student loan debt.; and 20% of New York state consumers have outstanding student debt.
www.zerohedge.com/news/2019-02-04/one-two-new-york-millennials-work-restaurants-repay-student-debt
Half of New York’s millennials are waiting tables to pay off student loans
Student debt is at a record high statewide. According to federal and state figures:
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#1. To: Horse (#0)
I don't know how many people the article is writing about.
“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
Lod posted on 2019-02-08 21:52:30 ET Reply Trace Private Reply
#2. To: Lod (#1) (Edited)
Most young people under 30 are heavily in debt.

Millions. A Depression cancels debt. That ia why I believe a Depression is coming. Sr Steve Keen said we have more Unpayable Debts than anytime in the past 500 years.
The Truth of 911 Shall Set You Free From The Lie
Horse posted on 2019-02-09 16:16:17 ET Reply Trace Private Reply
#3. To: Horse (#2)
I believe a Depression is coming

The key to discovering the economic cycles is to know why they happen. ;)
en.wikipedia.org/wiki/Kondr atiev_wave
"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke
BTP Holdings posted on 2019-02-09 16:50:34 ET Reply Trace Private Reply
#4. To: BTP Holdings (#3)
Depressions happen because we accumulate too many Unpayable Debts. The burden of interest and principle payments becomes unbearable.
The Truth of 911 Shall Set You Free From The Lie
Horse posted on 2019-02-10 17:15:59 ET Reply Trace Private Reply
#5. To: Horse (#4)
Depressions happen because we accumulate too many Unpayable Debts.

The depression of the 1930s was caused by the Crash of '29. It was so bad that the brokers on Wall St. were jumping out of windows because they lost everything.
My Mom told me they all got coal in their stockings at Christmas time because the family could not afford to buy gifts for the children since they had no money. My maternal Grandfather did shoe repairs in the basement since they could not afford to bring them to the cobbler.
To make matters worse the FED contracted the money supply. And the United States of America went into Chapter 11 in 1933 and is still there today. Members of Congress are the receivers in that bankruptcy, ;)
"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke
BTP Holdings posted on 2019-02-11 6:28:51 ET Reply Trace Private Reply
#6. To: BTP Holdings (#5)
The Crash of 1929 was an effect of too many Unpayable Debts. No more loans and the bubble bursts. The Depression did not start until 1931. From 29 to 31 we had a recession. We have an interest bearing currency. When we discharge debts in bankruptcy courts because they are unpayable, our money supply contracts and closes stores and factories causing massive unemployment. These are all effects of Unpayable Debts.
The Truth of 911 Shall Set You Free From The Lie
Horse posted on 2019-02-11 14:21:04 ET Reply Trace Private Reply
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