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We Are The 99 Percent---From Occupy Wall Street


Auburndale Ray
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Honestly I think this is terrible advice. This is what leads people to take out tons of student loans in college programs that have little chance at paying off in the end.

I love playing video games. I'm not going to get wealthy playing video games. I love sports. Sports are not going to make me wealthy.

I'm really good at math and have very good computer skills, but I don't love either of those things.

I agree that doing what you love won't necessarily make you wealthy. I'm in the same boat as you, except I generally dislike video games. :happy: I'm reasonably happy with my work in programming and statistics, but I wouldn't be doing it if I wasn't getting paid to do it.

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Honestly I think this is terrible advice. This is what leads people to take out tons of student loans in college programs that have little chance at paying off in the end.

People do this without a facking clue what they are going to study first more often. And I mentioned nothing about college in my post in the first place.

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That's a great point. There should be some sort of regulation against the ridiculous interest rates. For the sake of the ignorant, they should not be taking out credit cards with rates like that, and sure as hell not using the card when they have little or no income. There is no coming back from that kind of debt.

If you get the card when you are employed and are paying it off on a regular basis it isn't a big deal. What often happens is that when someone loses their job they have little choice but to use the card to meet their immediate expenses and if they can't find a job relatively quickly they'll end up in a ton of debt (or the same will happen if they have any health issues after losing their job). But racking up that debt absolutely makes sense since you are talking about going declaring bankruptcy right away or delaying it and hoping you can find a job or some other income stream to prevent have to file for bankruptcy.

The bigger issue in those cases is the lack of savings to cover an extended period without a job. But because long term unemployment is becoming such a major problem right now even people with emergency funds are running into problems.

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People do this without a facking clue what they are going to study first more often. And I mentioned nothing about college in my post in the first place.

I never said you mentioned college, I said your advice leads to people making specific decisions.

My HS guidance counselor (who was largely useless) gave me the hypothetical scenario that got presented in The Office about what would you do if you won the lottery. If what you love can make you money, great do what you love. But I'm willing to bet doing what they love and assuming it will make you happy and wealthy is what led a bunch of these people to the situation they are currently in. It's better advice for people who want to be entrepreneurs, but that kind of lifestyle just isn't for everyone.

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Maybe these silly people need to live within their means, like oh NOT getting a credit card in the first place to default on, that's the problem people financing stuff, I have ZERO debt, I pay cash for vehicles and luxuries. I do it the old fashioned way, I work and save my money to purchase what I want. Stupid people should only be pitied to a point, don't finance stuff you have no way to pay for should a rainy day come.

You'll never get into the 1% that way!

I actually do the same as you and have zero debt, but sometimes circumstances are difficult for people. They start families, lose jobs, get sick...Things can get really complicated.

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Colleges should treat credit card companies, and their marketing people, like they do cigarettes.

+1000

Parents also need to educate their kids how these things work. My parents did go a great job with that... I got snookered. Fortunately for me, my original limit was pretty low in High School so I couldn't get into serious debt.

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You'll never get into the 1% that way!

I actually do the same as you and have zero debt, but sometimes circumstances are difficult for people. They start families, lose jobs, get sick...Things can get really complicated.

I think most people do some credit card stupid at least once, esp. when young. Once you've crawled out of it, it's something you aren't likely to do again. But if you were rescued, chances are pretty good that the lesson won't stick as firmly.

But yeah, sometimes stuff happens. The car breaks down and needs to go to the shop, and you don't have savings to cover it (because when you are young and broke and have kids, there's always something). Where you end up in bondage to them is by paying the minimum every month. Calculate, for example, how much you need to pay to clear the debt in three months or a year and pay that as though it was what is due each month.

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I never said you mentioned college, I said your advice leads to people making specific decisions.

My HS guidance counselor (who was largely useless) gave me the hypothetical scenario that got presented in The Office about what would you do if you won the lottery. If what you love can make you money, great do what you love. But I'm willing to bet doing what they love and assuming it will make you happy and wealthy is what led a bunch of these people to the situation they are currently in. It's better advice for people who want to be entrepreneurs, but that kind of lifestyle just isn't for everyone.

I doubt that 1 in 1,000 college kids have even an inkling of what they want to study when they arrive there. They just want to be told what to do, so they can be told what to do after they graduate by somebody else. I cannot imagine how we have tolerated an educational system like this for the past 40-or-so years. So we have the hirers and the hired. The hired should not complain about this arrangement if their expectation is to simply "get a job after college." What a grand presumption that is.

I tell kids to make their own jobs; they can create one perfectly suited for themselves. And everyone can be an entrepreneur, even if they work at a job.

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I work and save my money to purchase what I want. Stupid people should only be pitied to a point, don't finance stuff you have no way to pay for should a rainy day come.

So...Right now you have a job...

Everything is great for you...

A growing number of people do not have a job...

They want a job...

They don't want your pity...

Tell us how you feel after you lose your job and can't find anything for a year or two...

Enjoy your cake...

While you can...

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This is pretty hilarious. There is a local newspaper reporter on my facebook list. Reportedly there was to be a 99% protest in front of the newspaper's office building downtown at 3 pm. As of 3:20, he said there was one lone guy out there with a sign. "Not exactly a flash mob," he said. LOL

Edit: Now reporting that lone protester guy seems to be calling people on his cell phone. haha! I'm reminded of that flash mob fail commercial from AT&T.

Edited by Melody
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I doubt that 1 in 1,000 college kids have even an inkling of what they want to study when they arrive there. They just want to be told what to do, so they can be told what to do after they graduate by somebody else.

.

The 1 in 1000 number is absurd. While I agree that there are too many people going to college, there are lots of students that know what they want to do, work hard at it and get a lot out of it. Education is a great thing for the right person. And if you think that college students want to be told what to do, you must never have spent any time on a college campus.

I tell kids to make their own jobs; they can create one perfectly suited for themselves. And everyone can be an entrepreneur, even if they work at a job.

Saying that anyone can be an entrepreneur is like saying anybody can go to college. It's true to an extent, but a lot of people aren't cut out to be entrepreneurs just like a lot of people aren't cut out for college. There are as many failed entrepreneurs as failed college students. It's easy to say: "Just keep trying until you get it right" but I could say the same thing to a college grad. Different people have different skills.

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I think there's a lot of good points on student loan reform. I'd like to see student loans debt become dischargable, but I also think banks should have the flexibility to set interest rates based on the concentration and institution the individual chooses. This would naturally funnel students into degrees where they will have a better chance to pay off their loans. Do you want to have a 4% interest rate and major in Graphic Design, or a 10% interest rate and major in Art History? Tough choice.

Having the gov't pay for everyone's college educations would be problematic. For one, the gov't cannot afford it. Secondly, we'd have even more graduates with useless degrees.

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I started my engineering program in '96 and, in general, the job situation then was tons better in electrical engineering at that time than it was in 2001 when I graduated. But again, the job situation at UC isn't reflective of the job situation for people graduating from traditional 4 year programs.

UD requires co-op experience to graduate as well.

In any event, the fact remains that there was no guarantee for jobs for people with a Civil Engineering degree out of UD in the 1994/95 time-frame.

My guess is EE vs. CE is a bigger difference point than co-op vs no co-op, though in our specific case both schools required co-op.

Edited by Mr. Bigglesworth
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I think there's a lot of good points on student loan reform. I'd like to see student loans debt become dischargable, but I also think banks should have the flexibility to set interest rates based on the concentration and institution the individual chooses. This would naturally funnel students into degrees where they will have a better chance to pay off their loans. Do you want to have a 4% interest rate and major in Graphic Design, or a 10% interest rate and major in Art History? Tough choice.

Having the gov't pay for everyone's college educations would be problematic. For one, the gov't cannot afford it. Secondly, we'd have even more graduates with useless degrees.

Didn't the gov just pretty much take over the main student loan programs last year and cut the banks out?

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A Civil Engineering degree was no guarantee you would get a job when I graduated either (1995).

My point is that, in comparison with other fields, there's a high level of placement. And that level of placement isn't where it was in the past, or at least that's what MTU Career Services has told me.

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How does it compare to the early to mid 90's?

At least with respect to the subfield of transportation engineering (roads, rails, etc.), I'm going to say placement levels were marginally higher in the past. A large reason for this is because of spending cuts on infrastructure at the federal level, as well as the absolute failure of Congress to pass a long term surface transportation bill over the past couple years. They've merely been extending the previous bill (SAFETEA-LU) on a yearly basis, which basically causes problems for state and local governments, as well as civil engineering consulting firms to plan long-term for projects.

Basically, on the consulting side, the inability to plan causes a lot of anxiety because you can't long-range plan very easily, and this hinders companies abilities to hire new engineers. At the Career Fair up here last week, there was a smaller Civil Engineering firm out of Wausau, Wisconsin that I talked to, and basically, they said that they would probably interview me and hire me based on my credentials, but that they were only looking for co-ops because they don't know if they can financially support bringing more people on.

This, along with my experience with the previous consulting firm I worked for this past summer in Illinois, gives me the impression that it's a pretty rough market there.

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Could you stop with the propaganda already? Everyone has a sob story to tell, we get it these people have made the wrong choices in life and need someone to blame their failures on. Maybe these silly people need to live within their means, like oh NOT getting a credit card in the first place to default on, that's the problem people financing stuff, I have ZERO debt, I pay cash for vehicles and luxuries. I do it the old fashioned way, I work and save my money to purchase what I want. Stupid people should only be pitied to a point, don't finance stuff you have no way to pay for should a rainy day come.

Marie_Antoinette.jpg

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Nah, Marie Antoinette and her family were smart enough to know that you have to borrow heavily to make it to the top. Again, the disdain for people who went into debt to get an education just shows the genius of how the elites have manipulated Joe Sixpack into hating people who make slightly less than him. Meanwhile, the Jamie Dimons of the nation get massive bailouts and are floated trillions in interest-free loans so they can live 10,000 times better than some salt-of-the-earth Republican sucker who prides himself on saving his money and not borrowing anything...All the while Joe Sixpack is sneering at cancer patients who can't get their way out of debt. Genius! They really do deserve all those billions if 30 or 40 percent of the country is really that boorish.

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There is some middle ground between rigid wage controls and the current system.

What exactly is this middle ground? Are we to set a maximum wage law? Are we to determine who makes what on a federal level? "Ok, Home Depot's CEO, you can make X but Lowe's CEO you will make X less than your contemporary at Home Depot." It seems to me that you either except the market outcome or you get into the business of the government telling people who can make what for job X.

Edited by Mr.TaterSalad
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