THE DEBT BUBBLE: SENIORS AGE 65 & OVER ARE BEING CRUSHED BY STUDENT DEBT-THEIR CHILDREN'S & THEIR OWN!
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Manage episode 226557877 series 1165508
Our FEATURE today dissects the total student debt of $1.5 trillion into segments that the public has little knowledge but should have major concern. That is SENIOR student debt. A front page feature in this weekend's WSJ indicates that seniors age 65 and over have accumulated $86 billion in student debt averaging $33,800/ loan. A large percentage of the debt is in guarantees for their children on Parent Plus Loans. What most citizens don't realize is that these loans can't be discharged in bankruptcy and the Federal Government has a practice of garnishing social security payments to pay the loans leaving many seniors destitute. When the next recession hits the US the DEBT BUBBLE will burst causing massive deflation and default in the US. Other topics include: "Record Jobs Powers On", "Did the Fed Jump the Gun?", The 1st phase of the V correction has been completed, Optimism for a China trade deal alters the market dynamics, Apple is now the "Privacy Protector"(How about the Patent Protector?), Judge Lucy Koh is on center stage in Silicon Valley, The US should destroy Huawei, Fannie & Freddie's resurrection, Howard Schultz makes a non-caffeinated statement, VPLM's consultant's report this week, Pocahontas apologizes, Marxism is about to die in Venezuela, The Drought Contingency Plan sucks Az dry. "Disclaimer: This commentary is provided for informational and educational purposes only. The information, analysis and opinions expressed herein reflect our judgment as of this date and are subject to change at any time without notice. They are not intended to constitute legal, tax, securities or investment advice or a recommended course of action in any given situation. All investments carry a certain risk and there is no assurance that an investment will provide positive performance over any period of time. Information obtained from third party resources are believed to be reliable but not guaranteed. Past performance is not indicative of future results. H. L. Quist is an Investment Advisor Representative."