First I guess I should explain myself. I Am an Ag and Applied Economics major, which means I am focused more on the microeconomics of the every day world. If you don't know what microeconomics is, it's simply the economics of a business. How to keep a business or entity running and surviving. I do know a lot of Macroeconomics (which is the study of the economic as a whole, as in policy and government interaction in economics.) But, I will not say I wont post some Macroeconomic stuff from time to time.
So, without further ado, let's get to it.
I came across this link this morning on CNBC.com (I try not to post from the big boys, but they do a great job a majority of the time.) Are Student Loans the next bailout? If you're like me and have a ton of student loan debt, which in a recent study that would mean close to 70% of you do, you could be thinking there is no end in sight. It, of course, brings in President Obama's stance on Federal Stafford loans interest rate to be cut down, or even done all together.
I cant think I'm totally on board on this one. Although, there is a clear conundrum I am facing, partly because I owe more than twice of what I make, the temptation of a bailout happening is over powering. but I cannot fathom not to pay this debt back, in full.
I began school because my parents were not college graduates. My parents, in hopes I would just go to a junior college for 2 years and be done with it, told me I was on my own to pay for college. For me, i figured going to college and just taking classes would be a success, but the more and more I attended class, the more I found out there is no success until they let you walk across the stage.
What I didn't expect though, was the cost. I found out early on that it's not cheap, but there is no free lunch. (And let's all just bow and be glad there isn't such thing as 'Free college') I ate ramen noodles and PB&J countless of times. I got out and it was rewarding. I conquered a dream I've had forever, and did it by myself. I am the first "Lucas" to get a college degree.
That alone was worth the 60,000 student loan debt. I truly hope all graduates can see it that way.
Chairman Bernanke wants you to know the FED was the hero who saved the economy from eternal doom.....uhhh, sure. Beauty is a perspective in the eye of the beholder...
The financial crisis of 2008 and 2009 will leave a lasting imprint on the theory and practice of central banking. With respect to monetary policy, the basic principles of flexible inflation targeting--the commitment to a medium-term inflation objective, the flexibility to address deviations from full employment, and an emphasis on communication and transparency--seem destined to survive. However, following a much older tradition of central banking, the crisis has forcefully reminded us that the responsibility of central banks to protect financial stability is at least as important as the responsibility to use monetary policy effectively in the pursuit of macroeconomic objectives.Yeah, Okay. Moving on.
Finally, a blog I follow and in turn love, is Marginally Beneficial. It's author is one of my previous economic professors (in macro economics no-less!) and he is one of the most brilliant guys I have ever known. Go Check his blog post out on if a College degree is really worth the cost... then tell me you don't feel the same. (Hint, it's about opportunity costs!)
I'm going leave it at this for the day. Y'all have a great day!
Go Red Sox!
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