Dude finds out fiancée has $170K student debt, dumps her

[omkara]

You can't discharge student loans through bankruptcy.

Hey man, I don't know if you're incapable of reading social cues or what but no one likes you here. If you were an honorable man you would leave.

 

[Zarky]

Hey man, I don't know if you're incapable of reading social cues or what but no one likes you here. If you were an honorable man you would leave.

LOL start a petition.

 

[HariPoter13]

Money can only be loaned into existence. That means if all debts were paid, there would be no money in circulation. Extrapolate that a little farther and you can come up with a simple summary of what banks do. "Lend 10 for 11 when only 10 exist". The only way for borrowers to repay their debt is if someone else borrows, to allow that 11th (interest driven) dollar to be repaid.

Exactly! I was having a hard time believing this, but this simple video explains it well. http://video.google.com/videoplay?docid=5352106773770802849#

P.S. And they usually lend 100 or more for only 1 in existence. INSANE

P.S.2. This is (modern) slavery at its best.

 

[Trader]

And while she hasn’t dated anyone seriously enough in recent months to get to the point of disclosure, she says it’s probably necessary by the eighth or 10th date. “I know that now,” she said. “But it had never occurred to me that this is something that might end up being a deal-breaker.”

She never thought $170K of debt might be a deal-breaker? That is a bit disingenuous

 

[Mr.Positive]

Money can only be loaned into existence. That means if all debts were paid, there would be no money in circulation.

Bingo, very few folks understand that money is debt. Say you have $100 in your pocket, all you have is $100 worth of services owed to you, by someone else.

I like the wimpy analogy, for it's simplicity. Say you make hamburgers, wimpy comes along and says "I'll gladly pay you tues. for a hamburger today.." You say no of course. Along comes the banks, wimpy takes out a loan for the amount of money for a hamburger, and then pays you...

He's happy, he gets his hamburger, you are happy, you get your money...and viola, our economy in a nutshell. Multiply that by 300 million people, millions of transactions every day.

You soon get enough wimpies buying your hamburgers, and you create jobs, etc...the world goes round and round.

The problem, is when the debt overpowers the ability to produce. This is what we are experiencing now. The debt, basically future productivity...is not what it should be.

The wimpies don't have the ability to earn enough to cover all the hamburgers they ate.

Now take the 170K loan/debt load of this gal, that's a lot of freaking hamburgers she ate. Is her photography degrees going to have the future productivity to cover her debt? In our job market? Basic needs always come first, shelter, food,etc.

The longer we linger in this mess, the worse the outcome. Hence the gov's wreckless spending policies. They want to inject the equivalent of 'speed' into the economy, but's not working yet.