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Thread: Student debt bubble popping

  1. #91
    Quote Originally Posted by Machiavelli View Post
    Is going to college necessary to land programming/developing jobs or can getting certificates cut it? Wondering if going to school is worth it.
    Just learn a language and learn it well. When you go into an interview for a job using a particular language and set of tools - if you show you are competent and can talk about the tools/language, their pros/cons, and show solid problem solving skills... the degree doesn't matter at all. Experience is a big factor for programming jobs. I've interviewed folks with CS degrees and resumes that looked amazing, who were dumb asses in the interview who obviously bullshitted on their resume. A couple of the smartest programmers i've ever worked with were self-taught guys with no CS degree who just loved programming and had an aptitude for it. Why would a guy who knows say, C++, inside and out, go spend 4 years of their life and tons of money taking classes that they could themselves be teaching?



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  3. #92
    Quote Originally Posted by Zippyjuan View Post
    Pretty much. Inflation had been persistant and high. To fight that, interest rates were raised to as high as 20%. The cost was higher unemployment which hit 10% but as the rate of inflation declined, stocks rose and the price of gold fell. Lasted 20 years.
    and what are the odds helicopter ben and company are going to raise rates as much as Volker did?
    do we want the 80's/90's or do we want japan?
    rewritten history with armies of their crooks - invented memories, did burn all the books... Mark Knopfler

  4. #93
    If inflation takes off due to all the stimulus they have tried to put out there (with very limited successs in my opinion), they won't be able to pull it back fast enough by selling off all the assets they have purchased so yes, I would expect them to try to raise interest rates in an attempt to slow things down again. I do think we are quite aways from that happening at this time though. As inflation rises, interest rates will also rise on their own. Bernanke said he does not want another term as Fed Chairman (the current one ends in 2014) so he will not likely be in charge when that hits. Question will be if whoever is in charge would be willing to take the hit on unemployment as a tradeoff for taming inflation like Volker did.

  5. #94
    Quote Originally Posted by Danke View Post
    July 12, 1976 1011 Highest point between Jan '73 and Oct. '82

    Gold was around $130

    See, let's play these stupid games all day long.

    Oh no, March 6, 2009 6,626.94
    Gold Price Close That day : 922.60

    so do the math.

    which is higher now...GOLD!
    WHich is why I suggest a diverse portfolio.

  6. #95
    Quote Originally Posted by Zippyjuan View Post
    If inflation takes off due to all the stimulus they have tried to put out there (with very limited successs in my opinion), they won't be able to pull it back fast enough by selling off all the assets they have purchased so yes, I would expect them to try to raise interest rates in an attempt to slow things down again. I do think we are quite aways from that happening at this time though. As inflation rises, interest rates will also rise on their own. Bernanke said he does not want another term as Fed Chairman (the current one ends in 2014) so he will not likely be in charge when that hits. Question will be if whoever is in charge would be willing to take the hit on unemployment as a tradeoff for taming inflation like Volker did.
    you must be sitting on a solid flow of government stimulus, because the people I know are hurting and are feeling the squeeze now... I don't see how the system endures anymore.
    rewritten history with armies of their crooks - invented memories, did burn all the books... Mark Knopfler

  7. #96
    As I said- I did not think it was very effective.



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  9. #97
    Quote Originally Posted by VBRonPaulFan View Post
    Just learn a language and learn it well. When you go into an interview for a job using a particular language and set of tools - if you show you are competent and can talk about the tools/language, their pros/cons, and show solid problem solving skills... the degree doesn't matter at all. Experience is a big factor for programming jobs. I've interviewed folks with CS degrees and resumes that looked amazing, who were dumb asses in the interview who obviously bullshitted on their resume. A couple of the smartest programmers i've ever worked with were self-taught guys with no CS degree who just loved programming and had an aptitude for it. Why would a guy who knows say, C++, inside and out, go spend 4 years of their life and tons of money taking classes that they could themselves be teaching?
    Indeed. It's ridiculous how much people lie on resumes sometimes, I barely even read it anymore. It's all about the interview. When it comes to programming, know your $#@!, and get the job.

    In larger companies the degree may help you get an interview, though. I don't know about other small companies, but in mine I pretty much interview anyone who applies.
    It's all about taking action and not being lazy. So you do the work, whether it's fitness or whatever. It's about getting up, motivating yourself and just doing it.
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  10. #98
    Quote Originally Posted by Zippyjuan View Post
    As I said- I did not think it was very effective.
    how do you also see Ben getting out before the brakes need to be applied?
    rewritten history with armies of their crooks - invented memories, did burn all the books... Mark Knopfler

  11. #99
    Quote Originally Posted by bxm042 View Post
    Indeed. It's ridiculous how much people lie on resumes sometimes, I barely even read it anymore. It's all about the interview. When it comes to programming, know your $#@!, and get the job.

    In larger companies the degree may help you get an interview, though. I don't know about other small companies, but in mine I pretty much interview anyone who applies.
    it always kinda pissed me off that employers never asked to see proof of my degrees and certs...
    the other person applying could lie about being a PhD with an MCSE and get the job.
    Con artist could be great interviewers, while brainiacs could be horrible interviewers.
    rewritten history with armies of their crooks - invented memories, did burn all the books... Mark Knopfler

  12. #100
    Quote Originally Posted by torchbearer View Post
    how do you also see Ben getting out before the brakes need to be applied?
    His term is up January 31st, 2014 which is actually just over a year from now (14 months). I expect the economy to still be limping along at that time and not into overdrive with soaring inflation.
    Last edited by Zippyjuan; 11-28-2012 at 07:47 PM.

  13. #101
    Quote Originally Posted by Zippyjuan View Post
    His term is up January 31st, 2014 which is actually just over a year from now (14 months). I expect the economy to still be limping along at that time and not into overdrive with soaring inflation.

    our perception of the real price increases due to monetary inflation is what must be different.
    I make a good bit of money for this area... at least enough that someone could live comfortable. I am a specialist in a few esoteric fields.
    well, that used to be true... about 6 years ago things started to get tighter, but nothing to be alarmed about. 3 years ago, all frills were cut back to almost nil just to make the bills.. same assets, same amount of bills. the only thing that has changed is the cost of everything I buy.
    and now, I have to go to my boss and ask for more money, just so I am not taking a huge pay decrease.
    this is why money creation is theft, and its immoral.
    rewritten history with armies of their crooks - invented memories, did burn all the books... Mark Knopfler

  14. #102
    LibForestPaul
    Member

    Quote Originally Posted by Danke View Post
    July 12, 1976 1011 Highest point between Jan '73 and Oct. '82

    Gold was around $130

    See, let's play these stupid games all day long.

    Oh no, March 6, 2009 6,626.94
    Gold Price Close That day : 922.60

    so do the math.

    which is higher now...GOLD!
    But none of this is relevant, as long as their is no free market. Gold is not even a store of value, more of an insurance policy now. Since people livelihoods and savings are at the whim and mercy of those with guns who obey those with fiat money. I have no idea what faux dollar commidity will be worth tomorrow. But I know gold will always be worth something. They didn't confiscate confederate dollars in 1933, they confiscated gold. Central banks don't hold Argentinian Reals, they hold tons of gold. Russian rubles aren't leased, gold is.

  15. #103
    Quote Originally Posted by LibForestPaul View Post
    But none of this is relevant, as long as their is no free market. Gold is not even a store of value, more of an insurance policy now. Since people livelihoods and savings are at the whim and mercy of those with guns who obey those with fiat money. I have no idea what faux dollar commidity will be worth tomorrow. But I know gold will always be worth something. They didn't confiscate confederate dollars in 1933, they confiscated gold. Central banks don't hold Argentinian Reals, they hold tons of gold. Russian rubles aren't leased, gold is.
    I was trying to make the point that arbitrarily picking dates can skew the results. Something lost with Zippyjuan, but no surprise.
    Last edited by Danke; 11-28-2012 at 08:13 PM.
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  16. #104
    Quote Originally Posted by Danke View Post
    I was trying to make the point that arbitrarily picking dates can skew the results. Something lost with Zippyjuan, but no surprise.
    Not at all. I showed additional ways the dates picked can skew results.



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  18. #105
    Quote Originally Posted by Seraphim View Post
    Unless you are EXTREMELY precise in your line of future work (say, hellbent on being a General Practioner, MD), stay out. Go make some money and aquire skills and resources.

    Do not go to University/College unless you really know what you want. If you do not know what you want, stay out (for now).
    As someone who is attending his second year in college, I strongly urge you to follow Seraphim's advise. Strongly.

    Graduate high school. Get a decent job (not talking $50k, but something to get you a little extra cash). Get together with some friends and see the country/world. Last thing you want is to waste a couple semesters studying stuff you don't care about, only to change your major and have to start all over again.

    Unfortunately, and this was the case for me, pretty much all high schools pressure students to go to college after graduating. I imagine it's all part of the bubble.
    Rand Paul 2016

  19. #106
    Quote Originally Posted by Tpoints View Post
    Yes. Because a person who bought gold at $500 in 1988 had to wait until 2005 to get his money back.

    Or a person who bought gold at 700 in 1980 had to wait until 2006.

    What do we call somebody who buys something and can't get his money back for 17-26 years?
    I hear someone who held onto a dollar bill in 1970, can buy a hell of a lot less today. Gold is not an investment to make money, it's a storage of wealth.
    Last edited by ronpaulfollower999; 11-28-2012 at 08:40 PM.
    Rand Paul 2016

  20. #107
    Quote Originally Posted by Zippyjuan View Post
    Not at all. I showed additional ways the dates picked can skew results.
    Which was already pointed out previously, and you chime in to reiterate it.

    No agenda there...
    Pfizer Macht Frei!

    Openly Straight Man, Danke, Awarded Top Rated Influencer. Community Standards Enforcer.


    Quiz: Test Your "Income" Tax IQ!

    Short Income Tax Video

    The Income Tax Is An Excise, And Excise Taxes Are Privilege Taxes

    The Federalist Papers, No. 15:

    Except as to the rule of appointment, the United States have an indefinite discretion to make requisitions for men and money; but they have no authority to raise either by regulations extending to the individual citizens of America.

  21. #108
    Quote Originally Posted by ronpaulfollower999 View Post
    I hear someone who held onto a dollar bill in 1970, can buy a hell of a lot less today.
    I've heard the same thing rumored in the past, I wonder if there's anything to it?

    Come to think of it, a candy bar was exactly five cents back in 1964. I remember, I was there, and bought them for a nickel myself. So a paper dollar in 1964 would buy 20 candy bars. I also heard that if someone made change for a paper dollar in 1964 and got half dollars, quarters or dimes instead, and kept those alongside a paper dollar of the same date, in 2012 that paper dollar would be worth less than one candy bar, while the coins that made up a dollar would be worth around $25 in paper bills (and climbing) -- or more than twenty candy bars!

    Gee, the value of the coins, and not for any collectors value, actually increased a bit since 1964. Go figure.

  22. #109
    Quote Originally Posted by Zippyjuan View Post
    You don't really have "your" social security funds (and neither do "they"). There is no "trust fund" where the money you pay in is kept safe and invested until you are elgible to collect on it. Taxes taken in this year pay expenses for this year.
    i doubt taxes paid this year pays for expenses this year.

  23. #110
    Quote Originally Posted by LibForestPaul View Post
    But none of this is relevant, as long as their is no free market. Gold is not even a store of value, more of an insurance policy now. Since people livelihoods and savings are at the whim and mercy of those with guns who obey those with fiat money. I have no idea what faux dollar commidity will be worth tomorrow. But I know gold will always be worth something. They didn't confiscate confederate dollars in 1933, they confiscated gold. Central banks don't hold Argentinian Reals, they hold tons of gold. Russian rubles aren't leased, gold is.
    What do you mean? Gold is worth roughly what it always has been. It's the dollar that's changed in value relative to gold. By traditional definitions of "money", gold is a store of value.
    Quote Originally Posted by Torchbearer
    what works can never be discussed online. there is only one language the government understands, and until the people start speaking it by the magazine full... things will remain the same.
    Hear/buy my music here "government is the enemy of liberty"-RP Support me on Patreon here Ephesians 6:12

  24. #111
    Student Debt on steroids... the bubble to "POP" has gone from a Zit to a Cyst. gonna get painful and ugly down the road.
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  25. #112
    Is this the fake Ron Paul forums? Seems an awful lot of statist and anti-austrians on here. Ron Paul is foremost an economics guy. Yet, we still have people not understanding the dollar collapse. So to answer every question in this thread.

    1. If Volker didn't raise interest rates to 20%, gold at 800 would have been a steal in 1980.
    What happens if they try this again with the current debt? Do the math on that one, and you will find they can't do it again. That's how you know that this isn't a 1980 repeat.

    a)Ron Paul bought gold when it was 40 dollars per ounce. He understood that governments debase currency. It's what statist do.

    2) The student loans should have never been issued. The government has no business backing them. In a free market you take a chance by loaning people money, therefore you are careful about it. Banks aren't careful because they are bailed out. They control the government, and have eliminated bankruptcy.

    Students should pull an iceland and default. In a free-market nobody in their right minds would give a loan to an 18 year old for a political science degree. You don't loan money at all without some sort of collateral. and the collateal can't be "The government will torture and steal from someone for me". You make the loan. You suffer the consequences.
    Should taxpayers pay for this? LOL When has the answer to that question ever been no? It's always yes. Taxpayers Shouldn't be paying for Social Security, Medicare, Medicaid, moronic wars, Publc Broadcasting. Public schools etc...........................
    The collapse should be welcomed by tax slaves.



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  27. #113
    Quote Originally Posted by Zeeder View Post
    Is this the fake Ron Paul forums? Seems an awful lot of statist and anti-austrians on here. Ron Paul is foremost an economics guy. Yet, we still have people not understanding the dollar collapse. So to answer every question in this thread.

    1. If Volker didn't raise interest rates to 20%, gold at 800 would have been a steal in 1980.
    What happens if they try this again with the current debt? Do the math on that one, and you will find they can't do it again. That's how you know that this isn't a 1980 repeat.

    a)Ron Paul bought gold when it was 40 dollars per ounce. He understood that governments debase currency. It's what statist do.

    2) The student loans should have never been issued. The government has no business backing them. In a free market you take a chance by loaning people money, therefore you are careful about it. Banks aren't careful because they are bailed out. They control the government, and have eliminated bankruptcy.

    Students should pull an iceland and default. In a free-market nobody in their right minds would give a loan to an 18 year old for a political science degree. You don't loan money at all without some sort of collateral. and the collateal can't be "The government will torture and steal from someone for me". You make the loan. You suffer the consequences.
    Should taxpayers pay for this? LOL When has the answer to that question ever been no? It's always yes. Taxpayers Shouldn't be paying for Social Security, Medicare, Medicaid, moronic wars, Publc Broadcasting. Public schools etc...........................
    The collapse should be welcomed by tax slaves.
    You put it better than I have when this subject comes up. Thanks!
    Quote Originally Posted by Torchbearer
    what works can never be discussed online. there is only one language the government understands, and until the people start speaking it by the magazine full... things will remain the same.
    Hear/buy my music here "government is the enemy of liberty"-RP Support me on Patreon here Ephesians 6:12

  28. #114
    Quote Originally Posted by heavenlyboy34 View Post
    You put it better than I have when this subject comes up. Thanks!
    Your welcome!

    I'd like to add that taxpayers are already paying for all this. It isn't in the form of taxes directly, but the cost of college education exceeds inflation because of the all the loans. You can't afford to send your kid to college..........so you have to get these loans..............which increases the price.............so others have to get loans. It's a disgusting cycle like the housing boom. College shouldn't cost anywhere near what it does.
    And what does ron paul call this? An inflation tax. See how I added Ron Paul in there. It should be required that you reference Ron Paul in every post.

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