After making DUMBEST Tweet ever, Bernie Sanders is educated on secured debt.

[YellowSnow51]

Did Bernie Sanders just send the ‘most economically illiterate tweet ever’?
On Saturday, Bernie tweeted:

“You have families out there paying 6, 8, 10 percent on student debt but you can refinance your homes at 3 percent. What sense is that?”

He was immediately educated by the twittersphere....starting with Bill Kristol:

Most economically illiterate tweet ever?

Followed by:

Hello, my name is #Bernie and although I have no clue how collateral works, I am running for president. Weeeee!- Casey Kim

Well you see, @SenSanders, a home has actual value, whereas a $100,000 degree in "women's studies" is WORTHLESS.- Bill Sanderson

Um, I'm no economics guru, but one is a secured debt; the other is not. Therein lies the "sense." - Matt

It's so weird that someone whose platform is all about economics doesn't understand secured debt and collateral.- Michael Freeman

And on and on the torture of Bernie goes....



http://twitchy.com/2015/12/26/did-b...-the-most-economically-illiterate-tweet-ever/

 

[moral_victory]

Implying that is even close to the dumbest tweet ever or even dumb at all.

Twitter is a vapid place.

 

[YellowSnow51]

Implying that is even close to the dumbest tweet ever or even dumb at all.

Twitter is a vapid place.

True. Maybe not dumbest. Afterall...Trump is out there.

 

[Greenway4Prez]

I admire that he's a man of principle.

That's all I've got.

 

[22*43*51]

And here I thought nothing good ever came from Twitter.

Give an idiot an audience and let him display his ignorance.

 

[Funky Bunch]

Still not as bad as people that complain that they can't afford their health insurance rate hike of 5% because their salary only went up 2%.

 

[BABiscuit]

Aren't there strict laws on defaulting on student debt? More than other unsecured debt? If so, a comparison of secured vs unsecured debt seems a bit simplistic.

 

[moral_victory]

Aren't there strict laws on defaulting on student debt? More than other unsecured debt? If so, a comparison of secured vs unsecured debt seems a bit simplistic.

I believe it can't be discharged or is really difficult to discharge in a bankruptcy too.

 

[broth87]

Did Bernie Sanders just send the ‘most economically illiterate tweet ever’?
On Saturday, Bernie tweeted:

“You have families out there paying 6, 8, 10 percent on student debt but you can refinance your homes at 3 percent. What sense is that?”

He was immediately educated by the twittersphere....starting with Bill Kristol:

Most economically illiterate tweet ever?

Followed by:

Hello, my name is #Bernie and although I have no clue how collateral works, I am running for president. Weeeee!- Casey Kim

Well you see, @SenSanders, a home has actual value, whereas a $100,000 degree in "women's studies" is WORTHLESS.- Bill Sanderson

Um, I'm no economics guru, but one is a secured debt; the other is not. Therein lies the "sense." - Matt

It's so weird that someone whose platform is all about economics doesn't understand secured debt and collateral.- Michael Freeman

And on and on the torture of Bernie goes....



http://twitchy.com/2015/12/26/did-b...-the-most-economically-illiterate-tweet-ever/

Bernie acts like he has Alzheimer's yet people are dumb enough to support him in this country. This is proof of the decline in intelligence and evolution in this society.

 

[moral_victory]

Bernie acts like he has Alzheimer's yet people are dumb enough to support him in this country. This is proof of the decline in intelligence and evolution in this society.

Citation for Alzheimer's needed. He is also probably one of the more intellectual candidates. If he isn't actually just the most.

 

[Kenneth Griffin]

Aren't there strict laws on defaulting on student debt? More than other unsecured debt? If so, a comparison of secured vs unsecured debt seems a bit simplistic.

With federal loans, if you default the full balance of the loan becomes immediately due and goes into collections.

 

[moral_victory]

With federal loans, if you default the full balance of the loan becomes immediately due and goes into collections.

Brutal. Seems like some risky debt for someone fresh out of high school to take on, but being that so many go to college they probably feel they have to take it on.

 

[timinatoria]

At least he didn't send out a premature congrats to a football team.

If he did all the Dems on here would fill a 2 page thread on how dumb he is.

 

[moral_victory]

At least he didn't send out a premature congrats to a football team.

FIFY

 

[markfromj]

I admire that he's a man of principle.

Though apparently not of interest.

 

[THE_DEVIL]

Though apparently not of interest.

 

[DogBoyRy]

Citation for Alzheimer's needed. He is also probably one of the more intellectual candidates. If he isn't actually just the most.

Wrong.
Smarter than the butch bitch but probably not the other side.

 

[moral_victory]

Wrong.
Smarter than the butch bitch but probably not the other side.

What a bunch of God fearing, terrorist fearing, gun grabber fearing intellects?

 

[Pepperman]

Is this the part of life where all Democrats say they really support Bernie, but are ok with Hillary being their candidate? Why the coronation of her again?

 

[moral_victory]

but are ok with Hillary being their candidate?

Not I. Unless stuff is looking super bleak I will probably vote Jill Stein assuming she wins the Green knod.

 

[Pepperman]

Not I. Unless stuff is looking super bleak I will probably vote Jill Stein assuming she wins the Green knod.

We agree - I'm not going to vote for her either!

 

[Menace Sockeyes]

He wasn't talking collateral, but the principle of the interest on student debt in the first place.

YS again tries to crap on someone FAR smarter than he, yet lays another turd. I guess it's his vendetta for being the "dumb kid"?

 

[theIowaHawk]

Implying that is even close to the dumbest tweet ever or even dumb at all.

Twitter is a vapid place.

Right, it's not even a nonsensical comparison. People can refinance their student loan debts at lower rates than the GOVERNMENT holds the rates at, how is that ok?

 

[Noble Hawk]

He wasn't talking collateral, but the principal of the interest on student debt in the first place.

YS again tries to ctap on someone FAR smarter than he, yet lays another turd. I guess it's his vendetta for being the "dumb kid"?

This. Is. Awesome!

Who is the "dumb kid" again?

 

[Menace Sockeyes]

This. Is. Awesome!

Who is the "dumb kid" again?

Typo fixed for you there, killer!

 

[Noble Hawk]

Typo fixed for you there, killer!

LOL. OK. It was a typo.

Again, who is the dumb kid?

 

[The Tradition]

With federal loans, if you default the full balance of the loan becomes immediately due and goes into collections.

If there's nothing to collect, then the debt holder doesn't get paid. With a car or a house, that asset can be reacquired by the lender and sold to someone else to resolve the debt.

 

[The Tradition]

Right, it's not even a nonsensical comparison. People can refinance their student loan debts at lower rates than the GOVERNMENT holds the rates at, how is that ok?

Because private industry is more efficient than government.

 

[Hoosierhawkeye]

I believe it can't be discharged or is really difficult to discharge in a bankruptcy too.

It can't be discharged through bankruptcy but that's not the only thing to look at. If you die, unsecured debt is harder to collect on.

 

[Kenneth Griffin]

If there's nothing to collect, then the debt holder doesn't get paid. With a car or a house, that asset can be reacquired by the lender and sold to someone else to resolve the debt.

The government will take whatever they can get. make $8 an hour at McDonalds, the government will take half.

 

[whatsup13579er]

Typo fixed for you there, killer!

Internet Rule #1: If you are going to insult someone else's intelligence, make sure the spelling/grammar/facts of your post are correct!

 

[The Tradition]

The government will take whatever they can get. make $8 an hour at McDonalds, the government will take half.

No, there are laws against that.

http://www.dol.gov/whd/regs/compliance/whdfs30.htm

At best, the government can get 25%, but if all you can make with your "Women's Studies" degree is $8 per hour, the government probably can't get anything.

 

[CarolinaHawkeye]

It can't be discharged through bankruptcy but that's not the only thing to look at. If you die, unsecured debt is harder to collect on.

Actually student loans come right after attorney fees when estates are settled.

 

[Lone Clone]

Citation for Alzheimer's needed. He is also probably one of the more intellectual candidates. If he isn't actually just the most.

Actually, he is much like our president, in that he sounds like nothing so much as a freshman home from college at Christmas break lecturing his parents on how the world works.

 

[moral_victory]

Actually, he is much like our president, in that he sounds like nothing so much as a freshman home from college at Christmas break lecturing his parents on how the world works.

When I saw it was you that quoted I knew I shouldn't even bother looking.

 

[markfromj]

The government will take whatever they can get.

I'm so sick of this "the government" stuff. YOU are "the government". Do something if you don't like what YOU are doing.

 

[hooper56]

Once again, senile Bernie demonstrates that he is unbelievably illiterate about economics. He is still trumping a failed system (socialism) and claiming he can give away everything for free. What is worse, there is a segment of the population that believes his fantasies. I do not think any thinking person could honestly subscribe to his proposals. I see where some might buy into his attacks on the wealthy and successful, as well as the "evil" corporations but it stops right there He has nothing to offer. Nothing.

 

[moral_victory]

Once again, senile Bernie demonstrates that he is unbelievably illiterate about economics. He is still trumping a failed system (socialism) and claiming he can give away everything for free. What is worse, there is a segment of the population that believes his fantasies. I do not think any thinking person could honestly subscribe to his proposals. I see where some might buy into his attacks on the wealthy and successful, as well as the "evil" corporations but it stops right there He has nothing to offer. Nothing.

Dat disinfo. Dat corporate knob slobbery.

 

[Huey Grey]

Did Bernie Sanders just send the ‘most economically illiterate tweet ever’?
On Saturday, Bernie tweeted:

“You have families out there paying 6, 8, 10 percent on student debt but you can refinance your homes at 3 percent. What sense is that?”

He was immediately educated by the twittersphere....starting with Bill Kristol:

Most economically illiterate tweet ever?

Followed by:

Hello, my name is #Bernie and although I have no clue how collateral works, I am running for president. Weeeee!- Casey Kim

Well you see, @SenSanders, a home has actual value, whereas a $100,000 degree in "women's studies" is WORTHLESS.- Bill Sanderson

Um, I'm no economics guru, but one is a secured debt; the other is not. Therein lies the "sense." - Matt

It's so weird that someone whose platform is all about economics doesn't understand secured debt and collateral.- Michael Freeman

And on and on the torture of Bernie goes....



http://twitchy.com/2015/12/26/did-b...-the-most-economically-illiterate-tweet-ever/

I saw this a few days ago. Problem I have with this argument is that most secured debt is relieved if the person goes into bankruptcy. Not so with student loans. They will follow you even through bankruptcy, or at least be much harder to discharge. Further, it makes little economic sense to charge someone more for interest and not also expect a higher rate of forfeiture. Most of these criticism are unfounded.

 

[Kenneth Griffin]

I'm so sick of this "the government" stuff. YOU are "the government". Do something if you don't like what YOU are doing.

Yeah why talk about the government, it's not like it is the lender or anything.