Define 'really bad' there, if you will.
Because I'm thinking that the mortgage bubble... was really bad.
Collapse of real estate values nationwide... really bad again.
Majority of bankruptcies tied to medical debt... pretty much a new low of "really bad" if you ask me.
Impending retirement of a generation which will completely bankrupt both medicare and social security, leaving Gen X-ers with nothing... well, this seems really, really bad from my perspective AS a member of the leading edge of GenX.
Recent college graduate unemployment numbers over 10%... also really bad.
The fact that such debt is now undischargeable... whoahhhhh.. I think we're going to need some new words, because that strikes me as roughly analogous to calling Hiroshima "unfortunate collateral damage."
But maybe I'm missing something.
Well, there's a problem with some of your analysis.
(Because I'm thinking that the mortgage bubble... was really bad.)
- It's been fixed with massive QE. Problem solved.
(Collapse of real estate values nationwide... really bad again.)
- It's been fixed with massive QE. Problem solved.
(Majority of bankruptcies tied to medical debt... pretty much a new low of "really bad" if you ask me.)
- This is irrelevant. Relevant people don't have this problem.
(Impending retirement of a generation which will completely bankrupt both medicare and social security, leaving Gen X-ers with nothing... well, this seems really, really bad from my perspective AS a member of the leading edge of GenX.)
- This problem can be solved with massive issuance of debt at 0% and/or more QE. To the extent that it can't, the problem is likely to only impact irrelevant people anyway.
(Recent college graduate unemployment numbers over 10%... also really bad.)
- I'm pretty sure that Princeton grads are still employable as high-powered consultants, I-bankers, or congressional staffers. The 10% are probably irrelevant people.
(The fact that such debt is now undischargeable... whoahhhhh..)
- Relevant people have their parents pay for college at Princeton.
I'm not sure I understand what you are trying to say.
