Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Not really a surprise considering the youth as a whole have record student loan debt and few job prospects. Looks like the energy sector crash will bring further pain as it trickles into the banking sector and into the wider economy. Cheap gas prices don't mean that much when the big boys are holding 15-25%% of their portfolio in energy and get wiped out. Plus states like CT, TX, and ND to name a few will be really hurting as well. Dark times ahead.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,570 posts, read 81,167,557 times
Reputation: 57798
Hmmm, if you read all the posts by those young people struggling with student loan debt and no job, they are blaming the big corporations for their woes. This data in effect means more democrat voters, since they are blaming the Republicans, not Obama.
Such a metric is useless and doesn't tell us anything that wasn't already available in the data it was calculated from.
Now if we actually tried to measure misery, it would mean something. But this index is calculated by effectively pre-supposing how much student debt, unemployment, etc. contribute to misery.
In this sense the index just begs the question against the position that these economic factors don't, in fact, lead to that much misery.
Such a metric is useless and doesn't tell us anything that wasn't already available in the data it was calculated from.
Now if we actually tried to measure misery, it would mean something. But this index is calculated by effectively pre-supposing how much student debt, unemployment, etc. contribute to misery.
In this sense the index just begs the question against the position that these economic factors don't, in fact, lead to that much misery.
Why is this metric useless if it is used as a barometer for future economic growth? A prudent person might look at this metric as an important economic indicator.
I guess you're correct that misery means different things to different people. Some may want to take the data one step further and try to evaluate what the quality of life issue is and will be in the future for 18-24 year olds. How long should a young adult live at home after high school? How long will it take for a young adult to be debt free after graduating from college? Do current college graduates come out of school with the skill sets necessary to find meaningful employment that pays a self supporting wage? If a young adult were to stop and think about their short and long term future, they could be discouraged and miserable.
Why is this metric useless if it is used as a barometer for future economic growth? A prudent person might look at this metric as a important economic indicator.
Why would we think student debt has more of an economic drag effect than a similar amount of non-student personal debt?
Quote:
Originally Posted by eccotecc
I guess you're correct that misery means different things to different people. Some may want to take the data one step further and try to evaluate what the quality of life issue is and will be in the future for 18-24 year olds. How long should a young adult live at home after high school? How long will it take for a young adult to be debt free after graduating from college? Do current college graduates come out of school with the skill sets necessary to find meaningful employment that pays a self supporting wage? If a young adult were to stop and think about their short and long term future, They could be discouraged and miserable.
Life choices don't directly translate into misery unless they make the person....well.....miserable.
Why would we think student debt has more of an economic drag effect than a similar amount of non-student personal debt?
Life choices don't directly translate into misery unless they make the person....well.....miserable.
Why should debt be an acceptable way of life? People who are in debt are indentured servants to the banks.
I could be wrong, but shouldn't life choices support a person's sense of responsibility, self-sufficiency, and self-esteem? Which life choices do you think a person would want to make?
Why would we think student debt has more of an economic drag effect than a similar amount of non-student personal debt?
1) Student loan debt is easier to collect than non-student consumer debt, e.g. studennt loan debtors can have wages garnished without going through court
2) Student loan debt is generally not dischargeable through bankruptcy while non-student consumer debt is easy to discharge through bankruptcy.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
