The richest 1% now owns more than half of all the world’s household wealth, according to analysts at Credit Suisse. And they say inequality is only going to get worse over the coming years, with millennials having a particularly tough time.

44 million Americans have student loans. These are the people in our society who are the least able to manage their debts. They are the most likely to default.

In 2016, no payments were made by more than 4 million borrowers against a total of $137 billion in outstanding student loans. This represents a 14% annual increase in the default rate from 2015. On average, 3,000 new people default on their student loans each day.

And yet...the issuance of these bad debts continues to soar. Since 2013, the average balance of all student borrowers has increased by 17% to more than $30,000.

What do you think happens next?

What happens when the least educated, least "vested," and most violent members of your society (unmarried men in their 20s)...also make up the largest demographic block...and have the largest debts (relative to income) with zero ability to pay back these debts back or discharge them through bankruptcy?

As I said...44 million people carry a student loan. Most of them can't afford these loans. Nor can they default. They can't restructure. They're stuck – many with $100,000 loans that absorb more than 100% of their disposable income.

What do you think they are going to do?

All they can do is fight...

Litwitlou wrote:. . . This is the first generation who will not do as well as their parents. There is talk of a Debt Jubilee. Don't laugh-- there are billions of dollars in student loans and credit card debt that will never be repaid. People are grasping at straws. Trump may be the last straw.

ant wrote:You people may be in luck.

Oprah might take this personally and you will have your candidate to cheer on.
I don't think Hilary could beat her.

geo wrote:

ant wrote:You people may be in luck.

Oprah might take this personally and you will have your candidate to cheer on.
I don't think Hilary could beat her.

If it came down to Oprah versus Trump, I would probably just go live in the woods. The American experiment would be over.

geo wrote:

ant wrote:You people may be in luck.

Oprah might take this personally and you will have your candidate to cheer on.
I don't think Hilary could beat her.

If it came down to Oprah versus Trump, I would probably just go live in the woods. The American experiment would be over.

DWill wrote:You have to shake your head at the effrontery of the man. He wants to make it easier to sue for defamation, the New York Times, for instance. Has he thought of the fact that many of his tweets are way out on the defamation limb? It doesn't matter which medium of writing a person employs to make his or her charges. But maybe Trump is sly like a fox. His lawyer claimed recently that a sitting president can't be sued for libel.