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28 minutes ago, pucksterpete said:

Thank God, August is over!  Time for a GREAT read, tnx man

😅  Why does August always suck for crypto? 


I was hoping it would be different this year.

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“While the amount of XRP is relatively small considering what some traders currently handle, it is more than enough to peak the interest of a significant percentage of traders, and may prompt a large number of SBI customers to investigate further.”

Should be “. . . to pique the interest . . .”

Thanks for your continual efforts, even on a holiday weekend. 

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28 minutes ago, GoldenGoose said:

“While the amount of XRP is relatively small considering what some traders currently handle, it is more than enough to peak the interest of a significant percentage of traders, and may prompt a large number of SBI customers to investigate further.”

Should be “. . . to pique the interest . . .”

Thanks for your continual efforts, even on a holiday weekend. 

You're sharp @GoldenGoose 🔪

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Student debt is an interesting subject that I've been studying quite a bit this last year.

Did you know that there is a huge division within the ranks of the people who owe those trillions? The default rate among you college grads is actually quite low...at least for those who graduated from a flagship university in their home state. Less than 2%.

And the actual defaulters are predominantly not grads of anything....but of the ones who are grads, most graduated from sketchy trade schools, and their average debt is not that much...around 10K, actually.. They tend to be predominantly persons of color too, fwiw.  There do happen to be a LOT of them. They are victims in my view, of what I'd call a conduit scheme to funnel tax money into the pockets of private, for-profit schools, which have enriched a few at the expense of the many.

MSM articles like to point to guys like the orthodontist in Utah who owes a million bucks. The truth is that he's a real outlier. And he's found a way to game the system.

My view is that it was a travesty to let student loans ever turn into this scam...... for the banking industry, who are the ones who are making all the money here. I would like to point out that any amnesty......really means they get made whole first. 

I support government subsidized free (and/or very cheap) public college. I was once a beneficiary of such a wise policy. I do not support wholesale student debt forgiveness. I see it as just one more ploy by the liberal side to find yet another special group of people to make promises to..... in exchange for a vote.

My own kids all have masters degrees in something, and some significant loans to pay. I'm not at all unsympathetic to those crushed by debt that they now can't even expunge in bankruptcy (thank the banks again for that little nuance.). But please do try to understand the real story, and not the one we're being sold in the run-up to the 2020 elections.

End of rant. Great blog, as usual.

 

 

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3 hours ago, GoldenGoose said:

“While the amount of XRP is relatively small considering what some traders currently handle, it is more than enough to peak the interest of a significant percentage of traders, and may prompt a large number of SBI customers to investigate further.”

Should be “. . . to pique the interest . . .”

Thanks for your continual efforts, even on a holiday weekend. 

I appreciate the kudos, @GoldenGoose!
 

And thank you for the correction as well; if you're ever on Twitter or Reddit, LMK (I always send a zerp to the person that tells me about spelling / grammar mistakes!)

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1 hour ago, dr_ed said:

But please do try to understand the real story, and not the one we're being sold in the run-up to the 2020 elections.

Fantastic rant @dr_ed   

It also struck me as strange; not that there was a big overall number, but two things:  The (relatively) small average amount of $37K, and the massive increase in that average amount over only the last 13 years. 

It's almost like student loan scam artists increased their game by a huge percentage during the last 13 years.  You bring up a good point about the for-profit colleges; it makes me wonder how much this 'trend' is responsible for that massive overall number. 

 

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5 hours ago, Hodor said:

😅  Why does August always suck for crypto? 


I was hoping it would be different this year.

It’s vacation time,  then after , back to school time,  then  ´ARE YOU READY FOR SOME FOOTBALL?´ :dance4:

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6 minutes ago, Capone said:

It’s vacation time,  then after , back to school time,  then  ´ARE YOU READY FOR SOME FOOTBALL?´ :dance4:

Of course it’s only the view from inside my American bubble . I hope everyone else understand. :)

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18 hours ago, Hodor said:

And thank you for the correction as well; if you're ever on Twitter or Reddit, LMK (I always send a zerp to the person that tells me about spelling / grammar mistakes!)

Well, since you asked for it, I'll go jikijitsu on you, for charity:  "en mass(e)"  (just send it to @stjude)  Fun game, btw...  The offer makes people read a little more closely...

ETA:  I left one or two for others to find... or maybe I didn't!

Edited by NightJanitor

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Great blog as always @Hodor  Student debt is a shocker alright , im guessing some will still be paying it  off when they retired. Possibly due to bad money management or unforseen circumstances and not even bankruptcy makes you exempt from paying it off. Great post @dr_ed. I hope the fudsters stay off this thread as well. Many thanks again :drinks: 

 

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I think student debt is the only type of debt that isn't forgiven after ten or eight years. That is the part that strikes me as a major problem. Default on a house forgiven, default on a business loan forgiven, default on student loans never forgiven. It is questionable at best, and shows the U.S. is alright with keeping people in debt for their entire lives. Personally I am not in debt, but it does bother me. 

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19 hours ago, Danny said:

You're sharp @GoldenGoose 🔪

Thanks, Danny. Hodor, I don't have Twitter/Reddit accounts. As far as I'm concerned, you are a self-motivated and gifted writer who does 99.9% of the work. If the rest of us can collectively contribute the last .1% to perfect your body of work, then no sweat. And if some future civilization stumbles across your virtual cave writings, they may very well believe that XRP investors were ahead of our time. :mail1:

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6 hours ago, peanut56 said:

I think student debt is the only type of debt that isn't forgiven after ten or eight years. That is the part that strikes me as a major problem. Default on a house forgiven, default on a business loan forgiven, default on student loans never forgiven. It is questionable at best, and shows the U.S. is alright with keeping people in debt for their entire lives. Personally I am not in debt, but it does bother me. 

You speak as though debt forgiveness is a victimless action. Far from it. 

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