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SuperJail Warden
Gone Forever
+606|3208
National Review article complaining about student loans again. I found this part interesting.

As Professor Bryan Caplan points out in this post, however, most student debtors haven’t been paying anything on their balances for quite a while (thanks to the Covid “emergency” moratorium) and are unlikely to start paying again even if the moratorium should be lifted. His argument is that there will be safety in large numbers: So many of the student debtors will not resume paying that the government will choose to let everyone slide.

Caplan is probably right. This is how the Left will get its wish for “free college.”

What should be done? I like his radical thinking: Get the government out of student lending. “First and foremost” he writes, “this is a perfect time to end government-supported student loans forever. To say, ‘We thought we could avoid the slippery slope from subsidized loans to free college for all. We were utterly wrong, so we’re killing the program.’ At minimum, this is a great time to drastically raise the interest rate to compensate taxpayers for much higher repayment risk going forward.”
Richest country in the world must also stop free college?
https://i.imgur.com/xsoGn9X.jpg
Dilbert_X
The X stands for
+1,790|5594|eXtreme to the maX
No I'm perfectly coherent, long term contracts solve all the problems.
Русский военный корабль, иди на хуй!
SuperJail Warden
Gone Forever
+606|3208
The Biden administration quietly changed its policy on who is eligible for student-debt “relief” on Thursday, scaling back its promise to millions amid legal challenges.
...
On Tuesday, the Pacific Legal Foundation issued the first lawsuit against the administration’s policy, arguing that student-loan borrowers in states like Indiana, Wisconsin, Minnesota, Arkansas, and North Carolina, would be unfairly taxed for the student-loan “forgiveness” under President Joe Biden’s program. Those enrolled in the Public Service Loan Forgiveness program have their debt relief automatically applied under Biden’s program, and because Biden’s “forgiveness” is taxed and the Public Service Loan Forgiveness program is not in those states, recipients would be hit with an unforeseen tax.

On Thursday, Six Republican attorneys general from Nebraska, Missouri, Arkansas, Kansas, Iowa, and South Carolina issued a lawsuit against the Biden administration, arguing that Biden’s unilateral decision to “cancel” debt is unconstitutional.
God, I am thankful to live in the NYC area. Our state won't turn down free money from the Federal government because of identity politics. The closet case states love to hurt themselves in performative politics. We should send them more 1911s.
https://i.imgur.com/xsoGn9X.jpg
unnamednewbie13
Moderator
+2,012|6260|USA

re: student loans,

And all this whining still flies in the face of Republican politicians who have had 6 and 7 figure loan forgiveness. But Republicans are still voting for them because "I'd rather be a Russian than a Democrat."

I wonder if people still believe in the sentiment of that T-shirt. I'm sure Putin could use some new boomer troopers. Maybe they could go be Russians.

Last edited by unnamednewbie13 (2022-09-30 11:52:41)

SuperJail Warden
Gone Forever
+606|3208
The student loan thing went live yesterday.

I have loan debt and will get more in order to get my admin degrees and whatever else I can before I hit year 10 on PSLF.

I will be pretty open about my situation IRT student loan: I don't plan to ever pay off my graduate loans. I paid back $25,000 in private loans for undergrad but as a matter of principle I have zero plans to ever pay back any graduate debt.

I saw someone on Reddit talk about "students signed the paper for the money they need to pay it back." 😂 😜 😆

This country bails out bad businesses and Wall St. once a decade. There is no way in hell anyone will be able to convince me to feel bad for taking government money and not paying it back. I feel the same way about all of the people who ripped off the COVID stimulus and Paycheck Protection Plan stuff. Good for them.
https://i.imgur.com/xsoGn9X.jpg
uziq
Member
+490|2940
i paid off the postgraduate loan i took in order to cover living costs/accommodation (scholarship covered fees and a basic stipend for materials). did so because it could have become a chain around my neck with credit rating/agencies. it was a bank loan, albeit a specially designed 'career development loan' intended for postgrad and further qualifications.

feel the same way as you with undergraduate loan, however. it's from a company that, whilst technically a private lender, is all but guaranteed by the UK govt and closely involved with the department of education. doesn't affect credit score or mortgage rates or blah blah blah. they can fuck off.

if i'm non-tax-resident and stay outside the UK for 5 years, i think it gets cleared by default. but that's a long time to not once go back to see family.

Last edited by uziq (2022-10-18 14:27:28)

Dilbert_X
The X stands for
+1,790|5594|eXtreme to the maX
The indian guy in the street was very proud to tell everyone who would listen that his daughter planned to take out loans for her medical degree, travel back to india - get married and come back with a different name, forget her loans and practice as a doctor.

Pretty sure I paid back my, paltry, student costs through taxation, mostly likely in my first two years of salaried employent.
Русский военный корабль, иди на хуй!
unnamednewbie13
Moderator
+2,012|6260|USA

Yeah, I don't actually care. Wake me when someone brings it to larcenous corporations that weasel their way out from under government scrutiny.
Dilbert_X
The X stands for
+1,790|5594|eXtreme to the maX
All you need is enough money to bribe politicians - its not difficult people.
Русский военный корабль, иди на хуй!
unnamednewbie13
Moderator
+2,012|6260|USA

The point is, why should I get outraged at a medical student (or prospective medical student) finding a way to GaMe ThE SyStEm when the rich purloin vast sums of wealth from the general populace.
Dilbert_X
The X stands for
+1,790|5594|eXtreme to the maX
Would it be OK if an Iranian robbed the US taxpayer of $200k?
Русский военный корабль, иди на хуй!
unnamednewbie13
Moderator
+2,012|6260|USA

$200k isn't even a blip. There are huts on the north coast of Alaska that cost more than $200k.
uziq
Member
+490|2940
it's always the indians who are scamming the system, isn't it?

LMAO paying back your student costs. what student costs? they were footed by the taxpayer in the first place. then you proceeded to leave the country and take your tax contributions elsewhere. but the indians coming and going are the problem, right?

if there was any justice you would have spent your working life in the UK footing the tax bill for the next generation or two of students.

and, no, a STEM student's undergraduate costs are not 'paltry'. they are the most expensive degrees per head to fund, especially any scientific degree with an experimental component. what can be described as 'paltry' costs to the institution (and, by extension, the taxpayer) are ... humanities degrees.

Last edited by uziq (2022-10-19 01:47:36)

unnamednewbie13
Moderator
+2,012|6260|USA

Hey guys, speaking of investments and corporate naughtiness:

France’s Lafarge pleads guilty to US charge of supporting ISIL
https://www.aljazeera.com/economy/2022/ … porting-is

But yeah, pales in comparison to a college student figuring out how to save a buck.
uziq
Member
+490|2940
the reality of dilbert's little queef about 'indians cheating the system' is that australia cynically advertises – and relies upon – international students as a means of keeping its university sector afloat without need of public largesse.

chinese and indians flock to australia to spend oodles of cold AUD to venerable institutions and in the local economy.

the australian government itself grants education visas in a way that is cynical in the extreme, knowing that many of the people who come on such visas will join the 'grey economy' of work whilst 'studying', or end up barely studying at all at low-entry-standard destinations. it's trivially easy to get an education visa to places like australia if you have the cold hard AUD to cough up.

this sort of travesty in the australian education/university sector is covered in the UK press a lot.

https://erudera.com/news/expert-calls-a … e-country/

Australia is being accused of easily accepting immigrants, especially international students who are offered to work and live in the country during their studies, Erudera.com reports.

In an article published by Macro Business Australia, the writer, Leith van Onselen who is a Chief Economist at the MB Fund and MB Super, claims that by offering extended work rights and a low standard for university acceptance, Australia makes it easy for international students to want to reside in the country permanently.

[...]

Although more international students are supposed to bring quality, the latter are being used to maximize profits in rent and other expenses, stomping studies quality value level.
but, of course, blame the filthy indians coughing up multi-generational amounts of savings towards tuition/visa fees, and not the greedy, grubby mongs who set up the system in the first place.

this is just one of those typical thiings where dilbert likes to rage at the chinese/indians because his country is effectively dependent on them.

Last edited by uziq (2022-10-19 07:33:08)

Cybargs
Moderated
+2,279|6204

uziq wrote:

the reality of dilbert's little queef about 'indians cheating the system' is that australia cynically advertises – and relies upon – international students as a means of keeping its university sector afloat without need of public largesse.

chinese and indians flock to india to spend oodles of cold AUD to venerable institutions and in the local economy.

the australian government itself grants education visas in a way that is cynical in the extreme, knowing that many of the people who come on such visas will join the 'grey economy' of work whilst 'studying', or end up barely studying at all at low-entry-standard destinations. it's trivially easy to get an education visa to places like australia if you have the cold hard AUD to cough up.

this sort of travesty in the australian education/university sector is covered in the UK press a lot.

https://erudera.com/news/expert-calls-a … e-country/

Australia is being accused of easily accepting immigrants, especially international students who are offered to work and live in the country during their studies, Erudera.com reports.

In an article published by Macro Business Australia, the writer, Leith van Onselen who is a Chief Economist at the MB Fund and MB Super, claims that by offering extended work rights and a low standard for university acceptance, Australia makes it easy for international students to want to reside in the country permanently.

[...]

Although more international students are supposed to bring quality, the latter are being used to maximize profits in rent and other expenses, stomping studies quality value level.
but, of course, blame the filthy indians coughing up multi-generational amounts of savings towards tuition/visa fees, and not the greedy, grubby mongs who set up the system in the first place.

this is just one of those typical thiings where dilbert likes to rage at the chinese/indians because his country is effectively dependent on them.
it gets even sicker when employers know theyre students and wont complain abotu shit wages cos theyll dob them in for breaching visa conditions to dept of immigration.

the cycle continues.

Funny how covid border lockdowns basically caused the biggest hospitality staff shortage that is still ongoing today.
https://cache.www.gametracker.com/server_info/203.46.105.23:21300/b_350_20_692108_381007_FFFFFF_000000.png
uziq
Member
+490|2940
if dilbert had any sense he'd stop bragging about his fractional petro shares gains here, invest in a property portfolio and let to international students at exorbitant rates. that's the easy route to big money success. i have no idea why the monied high-earner, 'i paid back my tax expenses to the UK in 5 years flat because i'm so affluent' guy hasn't got into landlordism tbh.
SuperJail Warden
Gone Forever
+606|3208

uziq wrote:

the reality of dilbert's little queef about 'indians cheating the system' is that australia cynically advertises – and relies upon – international students as a means of keeping its university sector afloat without need of public largesse.

chinese and indians flock to australia to spend oodles of cold AUD to venerable institutions and in the local economy.
I think the U.S. is going to go in this direction soon. Especially at top 100 (RU #55 💪) colleges.

There are court cases in front of SCOTUS to do away with affirmative action. (Another 70's thing that the SCOTUS will undo.) Combine that with the ongoing enrollment crisis at colleges & student debt and I think we will end up in a situation where foreign students with cash and (falsified) test scores fill in the gap.

I really really hope that is the end result of getting rid of affirmative action. Make those universities super Asian. 🥵
https://i.imgur.com/xsoGn9X.jpg
uziq
Member
+490|2940
'soon'? huge numbers of graduate students at your ivies are from east asia, india, etc. there are entire departments in the STEM disciplines mostly made up of asians, russians, etc (the cosmopolitan and global collaborative vibe was the same at UK graduate schools until b-b-b-b-brexit).

the only reason it hasn't happened for undergraduate, i guess, is that your private universities are prohibitively expensive except for all but the global 1%. not even the upper-middle class from a tiger economy with a median GDP of $35k-40k/yr is going to be sending their kids to harvard on foreign undergraduate fees.

Last edited by uziq (2022-10-19 08:00:18)

Cybargs
Moderated
+2,279|6204

uziq wrote:

if dilbert had any sense he'd stop bragging about his fractional petro shares gains here, invest in a property portfolio and let to international students at exorbitant rates. that's the easy route to big money success. i have no idea why the monied high-earner, 'i paid back my tax expenses to the UK in 5 years flat because i'm so affluent' guy hasn't got into landlordism tbh.
cos he lives in radelaide, no one wants to go there.
https://cache.www.gametracker.com/server_info/203.46.105.23:21300/b_350_20_692108_381007_FFFFFF_000000.png
Dilbert_X
The X stands for
+1,790|5594|eXtreme to the maX
If everything could just stay flat til the end of the year I should exceed my net worth increase target by a reasonable margin.

Also with supply chain shortages the gunpowder I paid $340 for 18 months ago is now worth ~$2000, maybe I should sell it, I'd still be well stocked for the foreseeable.
Русский военный корабль, иди на хуй!
uziq
Member
+490|2940
'net worth increase target by a reasonable margin', lmao. increasing your net worth whilst you live at home, childless, without a mortgage, must be like playing investment with stabilizers on. i mean, what else have you had to do with your money in your entire working life?

it's a wonder women aren't throwing themselves at such an eligible hot shot.

https://img2.storyblok.com/864x703/smart/filters:quality(80)/f/69709/3137x2551/8505322dae/teach_kids_to_ride_1.jpeg

to say nothing about the fact that australia has sailed through the last decade of global recession and post-crash blues by ... becoming one of the world's biggest exporters of fossil fuels and minerals. but who cares about the environment and climate change when you're playing the stock markets on beginner mode with petrol shares, right? 'i'm increasing my net worth!!!'

Last edited by uziq (2022-10-24 03:07:33)

Dilbert_X
The X stands for
+1,790|5594|eXtreme to the maX
Thank you.

Please keep using our coal.

You're using it now.

Thank you.
Русский военный корабль, иди на хуй!
Dilbert_X
The X stands for
+1,790|5594|eXtreme to the maX
My investment plan has been to follow the ASX top 20 shares, buy when they seem undervalued, sell when they seem overvalued, keep taking the dividend if they seem about fairly valued.

This has delivered an average of 7.25% annually, after tax, over ten years, including some lucky wins and shitty losses, with no costs to speak of.
Not all that stellar but a whole lot better than cash. If this is beginner mode I'm fine with beginner mode.
Русский военный корабль, иди на хуй!
uziq
Member
+490|2940
korea uses 24% coal for its energy needs, as of 2021 figures. that's less than australia uses of its own coal.

for all you know, i could be getting power for my kettle and bedside lamp from LNG right now ... or renewables. you simply do not know. derp.

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