It’s easy to make a pile of dough if you get it for nothing and then lend it out at interest.
Don’t forget young college graduates to put money away for retirement. What’s that you say? You won’t have any chance of saving anything until you are 50 years old because you owe $250,000 in law school bills? Wow, that really stinks. But at least you paid the salary of your law professor for a year. It takes a village after all. That should make you feel good. When you’re 47 and still in debt just remember that.
A good op-ed from Paul B. Farrell at Marketwatch.com. He explains that despite how different things seem in the markets, despite the technologies utilized and new strategies employed, it is never “different this time.” And we ignore this reality at our peril. But ignore many do. They’ve “sequestered their brains” says Farrell.
We have written before about the student loan bubble. It is in the early stages of popping. There’s just too much debt, and there are just too few jobs for people coming out of school. Sooner or later those bills aren’t getting paid.
I remember the heady days of 2004-2005 when I’d go to barbecues at people’s houses and late 20-somethings and early 30-somethings would rattle on about how much “money” they had made on their house since they bought it.