STUDENT LOANS

PJPOWER said:

The Juggler said:

PJPOWER said:

HughFreakingDillon said:

Gern Blansten said:

https://twitter.com/existentialfish/status/1359895931064262656

Fucking idiot

honestly, i don't disagree with him. his last comment "it's like peeing on a forest fire" is spot on. 

the CERB program in canada gives $500 per week for 28 weeks. that's $2K per month for 7 months. $1400 gives people the money to pay their hydro bill for a home they've already lost. it's absurd. 

Yeah, he’s not wrong...

I enjoy his podcast

Yup, Ramsey is da man!

He's a fucking tRumpster idiot.  He said that forgiving student loans wouldn't stimulate the economy unless people were planning on paying off their loans anyway.  Moronic.  

PJPOWER said:

Gern Blansten said:

PJPOWER said:

The Juggler said:

PJPOWER said:

HughFreakingDillon said:

Gern Blansten said:

https://twitter.com/existentialfish/status/1359895931064262656

Fucking idiot

honestly, i don't disagree with him. his last comment "it's like peeing on a forest fire" is spot on. 

the CERB program in canada gives $500 per week for 28 weeks. that's $2K per month for 7 months. $1400 gives people the money to pay their hydro bill for a home they've already lost. it's absurd. 

Yeah, he’s not wrong...

I enjoy his podcast

Yup, Ramsey is da man!

He's a fucking tRumpster idiot.  He said that forgiving student loans wouldn't stimulate the economy unless people were planning on paying off their loans anyway.  Moronic.  

Meh, I think he is spot on here on who would benefit from student loan forgiveness.  And he said “people planning on paying them off this year”.  At least don’t twist his words. If you think he is an idiot, odds are you are pretty poor with your finances.

I don't know where he's getting his info from that only people with money have large student loan debt. that doesn't seem to make any sense. 

PJPOWER said:

HughFreakingDillon said:

PJPOWER said:

Gern Blansten said:

PJPOWER said:

The Juggler said:

PJPOWER said:

HughFreakingDillon said:

Gern Blansten said:

https://twitter.com/existentialfish/status/1359895931064262656

Fucking idiot

honestly, i don't disagree with him. his last comment "it's like peeing on a forest fire" is spot on. 

the CERB program in canada gives $500 per week for 28 weeks. that's $2K per month for 7 months. $1400 gives people the money to pay their hydro bill for a home they've already lost. it's absurd. 

Yeah, he’s not wrong...

I enjoy his podcast

Yup, Ramsey is da man!

He's a fucking tRumpster idiot.  He said that forgiving student loans wouldn't stimulate the economy unless people were planning on paying off their loans anyway.  Moronic.  

Meh, I think he is spot on here on who would benefit from student loan forgiveness.  And he said “people planning on paying them off this year”.  At least don’t twist his words. If you think he is an idiot, odds are you are pretty poor with your finances.

I don't know where he's getting his info from that only people with money have large student loan debt. that doesn't seem to make any sense. 

It does make sense:
https://www.brookings.edu/blog/up-front/2020/10/09/who-owes-the-most-in-student-loans-new-data-from-the-fed/
and:
https://www.urban.org/urban-wire/which-households-hold-most-student-debt

Higher income households do disproportionately owe more student loan debt than low income households, so in essence a student debt forgiveness program would disproportionately assist higher income households more than lower income households regarding overall $ amounts.

i'm talking proportional to their income (I realize it's not what I said, it's what was in my head lol). of course people who go to med school for 12 years are going to have higher debt than someone who goes to a 2 year diploma program at a community college. but what is the RATIO of debt to earnings? that's the real figure people need to look at. 

PJPOWER said:

HughFreakingDillon said:

PJPOWER said:

HughFreakingDillon said:

PJPOWER said:

Gern Blansten said:

PJPOWER said:

The Juggler said:

PJPOWER said:

HughFreakingDillon said:

Gern Blansten said:

https://twitter.com/existentialfish/status/1359895931064262656

Fucking idiot

honestly, i don't disagree with him. his last comment "it's like peeing on a forest fire" is spot on. 

the CERB program in canada gives $500 per week for 28 weeks. that's $2K per month for 7 months. $1400 gives people the money to pay their hydro bill for a home they've already lost. it's absurd. 

Yeah, he’s not wrong...

I enjoy his podcast

Yup, Ramsey is da man!

He's a fucking tRumpster idiot.  He said that forgiving student loans wouldn't stimulate the economy unless people were planning on paying off their loans anyway.  Moronic.  

Meh, I think he is spot on here on who would benefit from student loan forgiveness.  And he said “people planning on paying them off this year”.  At least don’t twist his words. If you think he is an idiot, odds are you are pretty poor with your finances.

I don't know where he's getting his info from that only people with money have large student loan debt. that doesn't seem to make any sense. 

It does make sense:
https://www.brookings.edu/blog/up-front/2020/10/09/who-owes-the-most-in-student-loans-new-data-from-the-fed/
and:
https://www.urban.org/urban-wire/which-households-hold-most-student-debt

Higher income households do disproportionately owe more student loan debt than low income households, so in essence a student debt forgiveness program would disproportionately assist higher income households more than lower income households regarding overall $ amounts.

i'm talking proportional to their income (I realize it's not what I said, it's what was in my head lol). of course people who go to med school for 12 years are going to have higher debt than someone who goes to a 2 year diploma program at a community college. but what is the RATIO of debt to earnings? that's the real figure people need to look at. 

I agree, the debt to income ratio is a valid argument, but are they looking at going off that type of scale or just an overall debt forgiveness program?  An overall debt forgiveness program would disproportionately benefit the wealthy.  I’m not sure where the debt to income numbers are at?  I’ll let you do that research, ha

Of course it would.  That's always been the argument, that it's essentially a wealth transfer.  Those with student loans (and graduated) have much higher average income and much lower unemployment rater than those without. Further, the default rate on student loans varies wildly from those without a degree vs those with a degree.  So waiving student loans is a subsidy for the middle or upper middle class.  At the same time, if you waive student load balances up to $50k, it's hard to argue that the savings wouldn't be put back into the economy in the form of home, car or other capital purchases.  So it likely would have a stimulating effect.

For the record, since Gern is our local CPA, I doubt he's terrible with his finances.  And while I didn't listen to this Ramsay podcast, if Gern says he's an idiot, my money is on him being an idiot. 

mrussel1 said:

PJPOWER said:

HughFreakingDillon said:

PJPOWER said:

HughFreakingDillon said:

PJPOWER said:

Gern Blansten said:

PJPOWER said:

The Juggler said:

PJPOWER said:

HughFreakingDillon said:

Gern Blansten said:

https://twitter.com/existentialfish/status/1359895931064262656

Fucking idiot

honestly, i don't disagree with him. his last comment "it's like peeing on a forest fire" is spot on. 

the CERB program in canada gives $500 per week for 28 weeks. that's $2K per month for 7 months. $1400 gives people the money to pay their hydro bill for a home they've already lost. it's absurd. 

Yeah, he’s not wrong...

I enjoy his podcast

Yup, Ramsey is da man!

He's a fucking tRumpster idiot.  He said that forgiving student loans wouldn't stimulate the economy unless people were planning on paying off their loans anyway.  Moronic.  

Meh, I think he is spot on here on who would benefit from student loan forgiveness.  And he said “people planning on paying them off this year”.  At least don’t twist his words. If you think he is an idiot, odds are you are pretty poor with your finances.

I don't know where he's getting his info from that only people with money have large student loan debt. that doesn't seem to make any sense. 

It does make sense:
https://www.brookings.edu/blog/up-front/2020/10/09/who-owes-the-most-in-student-loans-new-data-from-the-fed/
and:
https://www.urban.org/urban-wire/which-households-hold-most-student-debt

Higher income households do disproportionately owe more student loan debt than low income households, so in essence a student debt forgiveness program would disproportionately assist higher income households more than lower income households regarding overall $ amounts.

i'm talking proportional to their income (I realize it's not what I said, it's what was in my head lol). of course people who go to med school for 12 years are going to have higher debt than someone who goes to a 2 year diploma program at a community college. but what is the RATIO of debt to earnings? that's the real figure people need to look at. 

I agree, the debt to income ratio is a valid argument, but are they looking at going off that type of scale or just an overall debt forgiveness program?  An overall debt forgiveness program would disproportionately benefit the wealthy.  I’m not sure where the debt to income numbers are at?  I’ll let you do that research, ha

Of course it would.  That's always been the argument, that it's essentially a wealth transfer.  Those with student loans (and graduated) have much higher average income and much lower unemployment rater than those without. Further, the default rate on student loans varies wildly from those without a degree vs those with a degree.  So waiving student loans is a subsidy for the middle or upper middle class.  

For the record, since Gern is our local CPA, I doubt he's terrible with his finances.  And while I didn't listen to this Ramsay podcast, if Gern says he's an idiot, my money is on him being an idiot. 

Personally, I would never elicit financial advice from someone that says Dave Ramsey is an idiot...but that’s just my opinion.  There are plenty of CPAs that are complete dumbasses when it comes to giving financial advice.  Sorry Gern.

PJPOWER said:

mrussel1 said:

PJPOWER said:

HughFreakingDillon said:

PJPOWER said:

HughFreakingDillon said:

PJPOWER said:

Gern Blansten said:

PJPOWER said:

The Juggler said:

PJPOWER said:

HughFreakingDillon said:

Gern Blansten said:

https://twitter.com/existentialfish/status/1359895931064262656

Fucking idiot

honestly, i don't disagree with him. his last comment "it's like peeing on a forest fire" is spot on. 

the CERB program in canada gives $500 per week for 28 weeks. that's $2K per month for 7 months. $1400 gives people the money to pay their hydro bill for a home they've already lost. it's absurd. 

Yeah, he’s not wrong...

I enjoy his podcast

Yup, Ramsey is da man!

He's a fucking tRumpster idiot.  He said that forgiving student loans wouldn't stimulate the economy unless people were planning on paying off their loans anyway.  Moronic.  

Meh, I think he is spot on here on who would benefit from student loan forgiveness.  And he said “people planning on paying them off this year”.  At least don’t twist his words. If you think he is an idiot, odds are you are pretty poor with your finances.

I don't know where he's getting his info from that only people with money have large student loan debt. that doesn't seem to make any sense. 

It does make sense:
https://www.brookings.edu/blog/up-front/2020/10/09/who-owes-the-most-in-student-loans-new-data-from-the-fed/
and:
https://www.urban.org/urban-wire/which-households-hold-most-student-debt

Higher income households do disproportionately owe more student loan debt than low income households, so in essence a student debt forgiveness program would disproportionately assist higher income households more than lower income households regarding overall $ amounts.

i'm talking proportional to their income (I realize it's not what I said, it's what was in my head lol). of course people who go to med school for 12 years are going to have higher debt than someone who goes to a 2 year diploma program at a community college. but what is the RATIO of debt to earnings? that's the real figure people need to look at. 

I agree, the debt to income ratio is a valid argument, but are they looking at going off that type of scale or just an overall debt forgiveness program?  An overall debt forgiveness program would disproportionately benefit the wealthy.  I’m not sure where the debt to income numbers are at?  I’ll let you do that research, ha

Of course it would.  That's always been the argument, that it's essentially a wealth transfer.  Those with student loans (and graduated) have much higher average income and much lower unemployment rater than those without. Further, the default rate on student loans varies wildly from those without a degree vs those with a degree.  So waiving student loans is a subsidy for the middle or upper middle class.  

For the record, since Gern is our local CPA, I doubt he's terrible with his finances.  And while I didn't listen to this Ramsay podcast, if Gern says he's an idiot, my money is on him being an idiot. 

Personally, I would never elicit financial advice from someone that says Dave Ramsey is an idiot...but that’s just my opinion.

Why would ever solicit financial advice from someone that a radio hosts discusses at all?

Gern Blansten said:

PJPOWER said:

mrussel1 said:

PJPOWER said:

HughFreakingDillon said:

PJPOWER said:

HughFreakingDillon said:

PJPOWER said:

Gern Blansten said:

PJPOWER said:

The Juggler said:

PJPOWER said:

HughFreakingDillon said:

Gern Blansten said:

https://twitter.com/existentialfish/status/1359895931064262656

Fucking idiot

honestly, i don't disagree with him. his last comment "it's like peeing on a forest fire" is spot on. 

the CERB program in canada gives $500 per week for 28 weeks. that's $2K per month for 7 months. $1400 gives people the money to pay their hydro bill for a home they've already lost. it's absurd. 

Yeah, he’s not wrong...

I enjoy his podcast

Yup, Ramsey is da man!

He's a fucking tRumpster idiot.  He said that forgiving student loans wouldn't stimulate the economy unless people were planning on paying off their loans anyway.  Moronic.  

Meh, I think he is spot on here on who would benefit from student loan forgiveness.  And he said “people planning on paying them off this year”.  At least don’t twist his words. If you think he is an idiot, odds are you are pretty poor with your finances.

I don't know where he's getting his info from that only people with money have large student loan debt. that doesn't seem to make any sense. 

It does make sense:
https://www.brookings.edu/blog/up-front/2020/10/09/who-owes-the-most-in-student-loans-new-data-from-the-fed/
and:
https://www.urban.org/urban-wire/which-households-hold-most-student-debt

Higher income households do disproportionately owe more student loan debt than low income households, so in essence a student debt forgiveness program would disproportionately assist higher income households more than lower income households regarding overall $ amounts.

i'm talking proportional to their income (I realize it's not what I said, it's what was in my head lol). of course people who go to med school for 12 years are going to have higher debt than someone who goes to a 2 year diploma program at a community college. but what is the RATIO of debt to earnings? that's the real figure people need to look at. 

I agree, the debt to income ratio is a valid argument, but are they looking at going off that type of scale or just an overall debt forgiveness program?  An overall debt forgiveness program would disproportionately benefit the wealthy.  I’m not sure where the debt to income numbers are at?  I’ll let you do that research, ha

Of course it would.  That's always been the argument, that it's essentially a wealth transfer.  Those with student loans (and graduated) have much higher average income and much lower unemployment rater than those without. Further, the default rate on student loans varies wildly from those without a degree vs those with a degree.  So waiving student loans is a subsidy for the middle or upper middle class.  

For the record, since Gern is our local CPA, I doubt he's terrible with his finances.  And while I didn't listen to this Ramsay podcast, if Gern says he's an idiot, my money is on him being an idiot. 

Personally, I would never elicit financial advice from someone that says Dave Ramsey is an idiot...but that’s just my opinion.

You are too smart to need a CPA.  You've got Dave Fuckin Ramsey!

I have a CPA and financial advisor that would disagree with you all day, but you go your way and I’ll go mine.  I have no debt whatsoever and make a modest income, I think I’ll be okay financially.
Where did I say I “need” Dave Ramsey?  Just said he’s not an idiot by any means and if you think he is, you’re probably a subpar CPA and probably give bad financial advise.

Gern Blansten said:

PJPOWER said:

Gern Blansten said:

PJPOWER said:

The Juggler said:

PJPOWER said:

HughFreakingDillon said:

Gern Blansten said:

https://twitter.com/existentialfish/status/1359895931064262656

Fucking idiot

honestly, i don't disagree with him. his last comment "it's like peeing on a forest fire" is spot on. 

the CERB program in canada gives $500 per week for 28 weeks. that's $2K per month for 7 months. $1400 gives people the money to pay their hydro bill for a home they've already lost. it's absurd. 

Yeah, he’s not wrong...

I enjoy his podcast

Yup, Ramsey is da man!

He's a fucking tRumpster idiot.  He said that forgiving student loans wouldn't stimulate the economy unless people were planning on paying off their loans anyway.  Moronic.  

Meh, I think he is spot on here on who would benefit from student loan forgiveness.  And he said “people planning on paying them off this year”.  At least don’t twist his words. If you think he is an idiot, odds are you are pretty poor with your finances.

He's a fucking idiot

If 500,000 students are paying $350/month on their student loans and all of a sudden they have $350/month to spend on a new car, a better living situation, other shit....that is a huge economic stimulus.

But keep buying his stupid books.  I bet you're rich already.

PJPOWER said:

mrussel1 said:

PJPOWER said:

HughFreakingDillon said:

PJPOWER said:

HughFreakingDillon said:

PJPOWER said:

Gern Blansten said:

PJPOWER said:

The Juggler said:

PJPOWER said:

HughFreakingDillon said:

Gern Blansten said:

https://twitter.com/existentialfish/status/1359895931064262656

Fucking idiot

honestly, i don't disagree with him. his last comment "it's like peeing on a forest fire" is spot on. 

the CERB program in canada gives $500 per week for 28 weeks. that's $2K per month for 7 months. $1400 gives people the money to pay their hydro bill for a home they've already lost. it's absurd. 

Yeah, he’s not wrong...

I enjoy his podcast

Yup, Ramsey is da man!

He's a fucking tRumpster idiot.  He said that forgiving student loans wouldn't stimulate the economy unless people were planning on paying off their loans anyway.  Moronic.  

Meh, I think he is spot on here on who would benefit from student loan forgiveness.  And he said “people planning on paying them off this year”.  At least don’t twist his words. If you think he is an idiot, odds are you are pretty poor with your finances.

I don't know where he's getting his info from that only people with money have large student loan debt. that doesn't seem to make any sense. 

It does make sense:
https://www.brookings.edu/blog/up-front/2020/10/09/who-owes-the-most-in-student-loans-new-data-from-the-fed/
and:
https://www.urban.org/urban-wire/which-households-hold-most-student-debt

Higher income households do disproportionately owe more student loan debt than low income households, so in essence a student debt forgiveness program would disproportionately assist higher income households more than lower income households regarding overall $ amounts.

i'm talking proportional to their income (I realize it's not what I said, it's what was in my head lol). of course people who go to med school for 12 years are going to have higher debt than someone who goes to a 2 year diploma program at a community college. but what is the RATIO of debt to earnings? that's the real figure people need to look at. 

I agree, the debt to income ratio is a valid argument, but are they looking at going off that type of scale or just an overall debt forgiveness program?  An overall debt forgiveness program would disproportionately benefit the wealthy.  I’m not sure where the debt to income numbers are at?  I’ll let you do that research, ha

Of course it would.  That's always been the argument, that it's essentially a wealth transfer.  Those with student loans (and graduated) have much higher average income and much lower unemployment rater than those without. Further, the default rate on student loans varies wildly from those without a degree vs those with a degree.  So waiving student loans is a subsidy for the middle or upper middle class.  

For the record, since Gern is our local CPA, I doubt he's terrible with his finances.  And while I didn't listen to this Ramsay podcast, if Gern says he's an idiot, my money is on him being an idiot. 

Personally, I would never elicit financial advice from someone that says Dave Ramsey is an idiot...but that’s just my opinion.  There are plenty of CPAs that are complete dumbasses when it comes to giving financial advice.  Sorry Gern.

Whether you agree with his assessment of ramsay or not, his logic behind the stimulus it would generate is quite basic, and makes perfect sense. you honestly don't need to be a CPA to know the effect this would have. 

mrussel1 said:

HughFreakingDillon said:

Gern Blansten said:

PJPOWER said:

Gern Blansten said:

PJPOWER said:

The Juggler said:

PJPOWER said:

HughFreakingDillon said:

Gern Blansten said:

https://twitter.com/existentialfish/status/1359895931064262656

Fucking idiot

honestly, i don't disagree with him. his last comment "it's like peeing on a forest fire" is spot on. 

the CERB program in canada gives $500 per week for 28 weeks. that's $2K per month for 7 months. $1400 gives people the money to pay their hydro bill for a home they've already lost. it's absurd. 

Yeah, he’s not wrong...

I enjoy his podcast

Yup, Ramsey is da man!

He's a fucking tRumpster idiot.  He said that forgiving student loans wouldn't stimulate the economy unless people were planning on paying off their loans anyway.  Moronic.  

Meh, I think he is spot on here on who would benefit from student loan forgiveness.  And he said “people planning on paying them off this year”.  At least don’t twist his words. If you think he is an idiot, odds are you are pretty poor with your finances.

He's a fucking idiot

If 500,000 students are paying $350/month on their student loans and all of a sudden they have $350/month to spend on a new car, a better living situation, other shit....that is a huge economic stimulus.

But keep buying his stupid books.  I bet you're rich already.

PJPOWER said:

mrussel1 said:

PJPOWER said:

HughFreakingDillon said:

PJPOWER said:

HughFreakingDillon said:

PJPOWER said:

Gern Blansten said:

PJPOWER said:

The Juggler said:

PJPOWER said:

HughFreakingDillon said:

Gern Blansten said:

https://twitter.com/existentialfish/status/1359895931064262656

Fucking idiot

honestly, i don't disagree with him. his last comment "it's like peeing on a forest fire" is spot on. 

the CERB program in canada gives $500 per week for 28 weeks. that's $2K per month for 7 months. $1400 gives people the money to pay their hydro bill for a home they've already lost. it's absurd. 

Yeah, he’s not wrong...

I enjoy his podcast

Yup, Ramsey is da man!

He's a fucking tRumpster idiot.  He said that forgiving student loans wouldn't stimulate the economy unless people were planning on paying off their loans anyway.  Moronic.  

Meh, I think he is spot on here on who would benefit from student loan forgiveness.  And he said “people planning on paying them off this year”.  At least don’t twist his words. If you think he is an idiot, odds are you are pretty poor with your finances.

I don't know where he's getting his info from that only people with money have large student loan debt. that doesn't seem to make any sense. 

It does make sense:
https://www.brookings.edu/blog/up-front/2020/10/09/who-owes-the-most-in-student-loans-new-data-from-the-fed/
and:
https://www.urban.org/urban-wire/which-households-hold-most-student-debt

Higher income households do disproportionately owe more student loan debt than low income households, so in essence a student debt forgiveness program would disproportionately assist higher income households more than lower income households regarding overall $ amounts.

i'm talking proportional to their income (I realize it's not what I said, it's what was in my head lol). of course people who go to med school for 12 years are going to have higher debt than someone who goes to a 2 year diploma program at a community college. but what is the RATIO of debt to earnings? that's the real figure people need to look at. 

I agree, the debt to income ratio is a valid argument, but are they looking at going off that type of scale or just an overall debt forgiveness program?  An overall debt forgiveness program would disproportionately benefit the wealthy.  I’m not sure where the debt to income numbers are at?  I’ll let you do that research, ha

Of course it would.  That's always been the argument, that it's essentially a wealth transfer.  Those with student loans (and graduated) have much higher average income and much lower unemployment rater than those without. Further, the default rate on student loans varies wildly from those without a degree vs those with a degree.  So waiving student loans is a subsidy for the middle or upper middle class.  

For the record, since Gern is our local CPA, I doubt he's terrible with his finances.  And while I didn't listen to this Ramsay podcast, if Gern says he's an idiot, my money is on him being an idiot. 

Personally, I would never elicit financial advice from someone that says Dave Ramsey is an idiot...but that’s just my opinion.  There are plenty of CPAs that are complete dumbasses when it comes to giving financial advice.  Sorry Gern.

Whether you agree with his assessment of ramsay or not, his logic behind the stimulus it would generate is quite basic, and makes perfect sense. you honestly don't need to be a CPA to know the effect this would have. 

And that effect is that it would have no stimulating benefit?

i'm agreeing with gern on the student loan issue. 

i only agreed with ramsay on the stimulus cheques like "peeing on a forest fire". 

Gern Blansten said:

One effect that I've seen is forcing married people that both have student loans to file separately.  Or if one has loans and the other doesn't.  

A joint return causes the minimum student loan payment to be higher which forces a couple to file separately in order to keep their payments low.  I advise against this as much as I can but they tend to look at it from a monthly cash flow perspective rather than the overall savings perspective.  Of course those people probably read Dave Ramsey so getting through is difficult.

So you advise people to pay down student loans as quickly as possible and so does Ramsey...You may have more in common than you think.
Still not going to hire you, though.