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Supreme Court Shuts Down Student Loan Forgiveness · Earn Your Leisure

• 0:00
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 0:03
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 0:07
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 0:11
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 0:15
  Speaker 1: some of the heinous migrant criminals caught because of President
• 0:19
  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
• 0:23
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 0:28
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 0:31
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 0:35
  Speaker 1: are here illegally, your next you will be fined nearly
• 0:39
  Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
• 0:43
  Speaker 1: never return. But if you register using our CBP home
• 0:46
  Speaker 1: app and leave now, you could be allowed to return legally.
• 0:50
  Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
• 0:55
  Speaker 1: border and families will.
• 0:57
  Speaker 2: Be protected sponsored by the United States Department of Homeland Security.
• 1:00
  Speaker 3: But any politicians that promises you that that is actually
• 1:02
  Speaker 3: an asset. For most companies, It's one of the most
• 1:06
  Speaker 3: important investment pools of all time. And that's why even
• 1:11
  Speaker 3: going back to affirmative action, and it's already happened in
• 1:17
  Speaker 3: some cases.
• 1:17
  Speaker 4: But even with this rule, and we're going to see
• 1:19
  Speaker 4: a lot more white.
• 1:21
  Speaker 3: Citizens attend HBCUs at scale over the next twenty years
• 1:24
  Speaker 3: as well.
• 1:25
  Speaker 4: They have to keep that college.
• 1:27
  Speaker 3: Student loan bubble or float because if not, if it bursts,
• 1:30
  Speaker 3: it would be one of the biggest crashes in the
• 1:32
  Speaker 3: history of the United States of America. So I know
• 1:36
  Speaker 3: it was a great promise, it was a great campaign point,
• 1:39
  Speaker 3: but no president will ever be able at scale to
• 1:42
  Speaker 3: be will be allowed to forgive student loan, and I
• 1:47
  Speaker 3: wish that it was. I think we have to have
• 1:49
  Speaker 3: a completely different conversation around if college at this price
• 1:54
  Speaker 3: is worth the investment, because college was not always as expensive.
• 1:58
  Speaker 3: Going back to that Sir cap table, if you will, like,
• 2:02
  Speaker 3: if you graduate from undergrad, what is the multiple that
• 2:07
  Speaker 3: you're getting on the degree. A lot of times people
• 2:09
  Speaker 3: will blame it on the students and say, hey, well
• 2:11
  Speaker 3: they're not picking the right major. I know business majors
• 2:14
  Speaker 3: that are coming out in undergrad and there are one
• 2:15
  Speaker 3: hundred and sixty thousand dollars in debt, Then you want
• 2:18
  Speaker 3: them to go get an NBA and not have any
• 2:20
  Speaker 3: great prospects, Like a lot of things in the country
• 2:23
  Speaker 3: needs to change. But the reason why the pricing of
• 2:26
  Speaker 3: school keeps going up because it's one of the few
• 2:28
  Speaker 3: monopolies that still exists that they have legislative power and
• 2:34
  Speaker 3: already in place to make sure that those rules don't change,
• 2:37
  Speaker 3: so that the tranche of money does not get messed
• 2:39
  Speaker 3: with and that liquidity pool for them does not try up.
• 2:43
  Speaker 5: So what do you think the immediate economic impact is
• 2:47
  Speaker 5: going to be, right October.
• 2:49
  Speaker 6: Let's talk about it. Is that they have to start paying.
• 2:51
  Speaker 4: That's why I want to go there.
• 2:52
  Speaker 6: The fact.
• 2:53
  Speaker 5: So the fact is like October and people are gonna
• 2:55
  Speaker 5: have to start paying for the first time since twenty
• 2:57
  Speaker 5: twentyen And we talked about that, and we talked about
• 3:01
  Speaker 5: you know, payments are frozen, but if you do pay,
• 3:03
  Speaker 5: it is going to go directly to your principle. Some
• 3:05
  Speaker 5: people did take advantage of that. I know a lot
• 3:07
  Speaker 5: of people were like, I'm not paying anything until I
• 3:09
  Speaker 5: hear a decision. Well, now we've heard a decision, and
• 3:12
  Speaker 5: people are going to have to start paying. And people
• 3:15
  Speaker 5: that are coming from out of an economic crisis like
• 3:18
  Speaker 5: the pandemic was, you know, you didn't factor in paying
• 3:22
  Speaker 5: back student loan right, And there's people who have graduated
• 3:25
  Speaker 5: since that. There's been too graduating classes since that, and
• 3:28
  Speaker 5: we know from graduating six months after you graduate that
• 3:31
  Speaker 5: student loan bill is coming, and a lot of people
• 3:34
  Speaker 5: haven't factored that in into their income, their discretionary income.
• 3:39
  Speaker 4: And so now what role does that play? Can people
• 3:41
  Speaker 4: not invest and what things are happening.
• 3:44
  Speaker 5: So one of the things that President Biden has said
• 3:47
  Speaker 5: is that he's putting plans in right so that it
• 3:49
  Speaker 5: got rejected, but he's putting plans in. One of the
• 3:51
  Speaker 5: things that he announces that there's going to be a
• 3:53
  Speaker 5: one year on ramp for loan repayments, during which borrowers
• 3:57
  Speaker 5: who miss payments won't be reported to the bredit bureaus
• 4:01
  Speaker 5: place in the fold or referred to debt collection agencies.
• 4:04
  Speaker 4: That's a one year thing that he's putting in place.
• 4:07
  Speaker 5: They're estimating this is gonna be over a two hundred
• 4:10
  Speaker 5: million dollar loss in the first few months of repayment
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  Speaker 5: two hundred maybe yea two hundred million, two hundred billion,
• 4:17
  Speaker 5: two hundred billion, not to excuse me, two hundred billion
• 4:19
  Speaker 5: dollar loss in the first few months of the repayment
• 4:21
  Speaker 5: starting because of people not allocating money for this type
• 4:25
  Speaker 5: of repayment. What's your thoughts on the economic impact that
• 4:29
  Speaker 5: the restart is gonna have.
• 4:31
  Speaker 4: It's gonna have a huge impact.
• 4:34
  Speaker 3: Two things like, you can't blame the end user when
• 4:38
  Speaker 3: or the person who got the loan because they were
• 4:40
  Speaker 3: promised a bill of goods that is not being delivered
• 4:44
  Speaker 3: to them on the back end. We're going to be
• 4:46
  Speaker 3: really honest when they keep saying a job market is
• 4:48
  Speaker 3: stronger than ever. I keep saying, where talk to people
• 4:52
  Speaker 3: that matter. Talk to people at Google, you guys, talk
• 4:55
  Speaker 3: to people. I'm not seeing a proliferation of a jobs
• 4:58
  Speaker 3: from one twenty five to three hundred thousand coming readily available.
• 5:02
  Speaker 4: It is not there.
• 5:03
  Speaker 3: This three card monte game that they're playing with the
• 5:07
  Speaker 3: job report is a con there are no quality jobs. Okay,
• 5:13
  Speaker 3: put in chat yes if you feel that there are
• 5:16
  Speaker 3: quality jobs in the United States of America right now
• 5:18
  Speaker 3: or no.
• 5:20
  Speaker 4: Right and even when you say quality.
• 5:22
  Speaker 5: And that's why when you look at the job report,
• 5:24
  Speaker 5: it's really important to see when they say that the
• 5:26
  Speaker 5: jobs are increasing or it beat estimates, look at where
• 5:29
  Speaker 5: the jobs are.
• 5:30
  Speaker 4: If you look at the number one place usually its hospitality.
• 5:33
  Speaker 5: So we're talking about right, So when we're talking about
• 5:37
  Speaker 5: career that are paying one hundred and fifty to three,
• 5:40
  Speaker 5: how many of those jobs are being created?
• 5:42
  Speaker 4: Not many?
• 5:42
  Speaker 3: Also, I mean I talked about this earlier. The medium
• 5:46
  Speaker 3: four to one K balance is twenty seven thousand dollars.
• 5:49
  Speaker 3: Credit card debt is at an all time high amongst
• 5:52
  Speaker 3: consumers of all races and all classes. Balances are being
• 5:56
  Speaker 3: held longer than ever. It is showing that our economy
• 6:00
  Speaker 3: is a lot softer or weaker. So why and this
• 6:03
  Speaker 3: is the main reason why they won't announce if we
• 6:06
  Speaker 3: are in recession because if we actually say the United
• 6:09
  Speaker 3: States winning recession, everyone's going to say to hell with
• 6:11
  Speaker 3: the payments because they know from the last recession, if
• 6:15
  Speaker 3: I'm in debt, what good does it do me to
• 6:19
  Speaker 3: pay you five hundred seven hundred one thousand dollars a
• 6:22
  Speaker 3: month and it's not going.
• 6:23
  Speaker 4: To make it a dent? And the actual principle, well,
• 6:25
  Speaker 4: the average car payment now is like seven ninety It's crazy,
• 6:30
  Speaker 4: this is insane.
• 6:31
  Speaker 3: If this was a business model, everything about America right
• 6:36
  Speaker 3: now as a business model will be broken and upside down.
• 6:40
  Speaker 4: It would be like.
• 6:41
  Speaker 3: Lucid Motors or something like in twenty twenty hurts like
• 6:44
  Speaker 3: it is upside down and no one wants to say anything.
• 6:47
  Speaker 4: Also to the timing of it, when this was ernest,
• 6:51
  Speaker 4: what's up?
• 6:51
  Speaker 5: You ever walk into a small business and everything just
• 6:54
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• 7:01
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• 7:17
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• 8:41
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 8:45
  Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador
• 8:49
  Speaker 1: accused of murdering a Texas. Man of Venezuelan charged with
• 8:53
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 8:57
  Speaker 1: some of the heinous migrant criminals caught because of President
• 9:01
  Speaker 1: Donald J. Trump's leadership. I'm Christy Noman, the United States
• 9:04
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 9:09
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 9:13
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 9:16
  Speaker 1: are here illegally, your next you will be fine nearly
• 9:20
  Speaker 1: one thousand dollars a day, imprisoned and deported, you will
• 9:24
  Speaker 1: never return. But if you register using our CBP home
• 9:28
  Speaker 1: app and leave now, you could be allowed to return legally.
• 9:31
  Speaker 1: Do what's right, leave now. Under President Trump, America's laws
• 9:36
  Speaker 1: border and families will.
• 9:38
  Speaker 2: Be protected sponsored by the United States Department of Homeland Security.
• 9:41
  Speaker 3: Being announced that was during an election period, so of
• 9:44
  Speaker 3: course you can't say, well, no, you're going to have
• 9:47
  Speaker 3: to pay your student loans.
• 9:48
  Speaker 4: Like politicians are going to lie.
• 9:49
  Speaker 3: Like the politicians normally are the guy that says whatever
• 9:52
  Speaker 3: they need to get what they need for that one night.
• 9:54
  Speaker 4: Normally. The unfortunate part with these politicians you have to
• 9:57
  Speaker 4: live with it for four years.
• 9:59
  Speaker 6: Yeah, well, I mean he did to his credit, to
• 10:02
  Speaker 6: Joe Biden's credit. I'm a registered independent by the way,
• 10:05
  Speaker 6: so I'm not I don't have any allegiance to any
• 10:08
  Speaker 6: political party. But to Joe Biden's credit, I think she
• 10:12
  Speaker 6: tried to get it through court. The court knocked down.
• 10:15
  Speaker 6: They had it run up and running for a few years.
• 10:17
  Speaker 6: I think it would have been in his interest to
• 10:19
  Speaker 6: actually make sure that it was permanent because that would
• 10:21
  Speaker 6: have definitely helped him on the on the reelection if
• 10:23
  Speaker 6: he wants to run for president again. But this goes
• 10:26
  Speaker 6: back to the court.
• 10:27
  Speaker 5: So Supreme Court Roberts is one of the main reasons
• 10:30
  Speaker 5: that it didn't go through. And the reason when you
• 10:32
  Speaker 5: looked at the you know some of the facts that
• 10:35
  Speaker 5: they were saying why they didn't pass it was because
• 10:36
  Speaker 5: the impact that it was going to have on the
• 10:38
  Speaker 5: state of Missouri. So most of the people who have
• 10:41
  Speaker 5: student loans, if you've ever seen Mohilo, you know that's
• 10:43
  Speaker 5: one of the student student lower payment centers. The economic
• 10:48
  Speaker 5: impact that it was going to have on them for
• 10:50
  Speaker 5: the long term would have hindered the State GDP of Missouri.
• 10:54
  Speaker 6: And Missouri to show me state, because that's what a
• 10:57
  Speaker 6: loan center is. People are going to lose jobs.
• 11:00
  Speaker 5: They're gonna lose money because they're gonna if you forgive
• 11:02
  Speaker 5: let's say you forgive two hundred billion, think about what
• 11:06
  Speaker 5: that does to the economy.
• 11:07
  Speaker 6: Of that say, what about the economy for millions of
• 11:09
  Speaker 6: people have it that can't afford their students.
• 11:11
  Speaker 5: So this is what I'm saying, Like, when you were
• 11:12
  Speaker 5: looking to it, it's like, yo, damn that people ever
• 11:14
  Speaker 5: think long term. Yeah, but most people not even thinking,
• 11:17
  Speaker 5: like Missouri was the reason. And this is one of
• 11:19
  Speaker 5: the things that they're saying in the court. And their
• 11:21
  Speaker 5: argument was like it actually is going to bring more business, right,
• 11:24
  Speaker 5: because there's over the past two to three years a
• 11:28
  Speaker 5: lot of businesses that relied on student loan repayment, Like
• 11:30
  Speaker 5: Mohgle is not the only one. They've had to go
• 11:33
  Speaker 5: out of business because there was no repayments. The fact
• 11:36
  Speaker 5: that Mohigles still in business tells you, like, yo, they
• 11:38
  Speaker 5: can now run a monopoly because they're the last one
• 11:41
  Speaker 5: standing or one of the few standing. So now all
• 11:43
  Speaker 5: business goes to them. So I mean, these are the
• 11:46
  Speaker 5: type of things that nobody talks about that are happening.
• 11:49
  Speaker 5: Another thing that Biden is trying to do as well,
• 11:51
  Speaker 5: on top of having that one year not reporting to
• 11:55
  Speaker 5: the credit bureaus, is that they're lowering the income base.
• 12:00
  Speaker 4: So income base used to be ten per cent of
• 12:01
  Speaker 4: your discretion income.
• 12:03
  Speaker 5: They're cutting that down to five, which means obviously the
• 12:06
  Speaker 5: more you make, if you're paying five percent as supposed
• 12:08
  Speaker 5: to ten, there's some cash available to yourself. So that's
• 12:11
  Speaker 5: another one of those things that they're trying to do.
• 12:13
  Speaker 5: Hopefully something gets passed. I have student loan. I was
• 12:16
  Speaker 5: sitting here like, hey, let's see what happens. But you know,
• 12:20
  Speaker 5: I'll do my everyday citizen thing and try to do
• 12:24
  Speaker 5: the right thing when it comes to this.
• 12:25
  Speaker 6: I mean, it comes down. I don't know about the
• 12:26
  Speaker 6: Missouri thing. I think that might just be it comes
• 12:29
  Speaker 6: down the money. It comes down the money. I don't
• 12:31
  Speaker 6: care if it's New York City, Missouri, Alaska, Hawaii. There's
• 12:37
  Speaker 6: billions of dollars that would have been lost if these
• 12:40
  Speaker 6: loans were forgiven. So this is banks and institutions and
• 12:45
  Speaker 6: pension funds, everybody that's putting pressure on the politicians and
• 12:50
  Speaker 6: judges anything like, look you, if you do this, we're
• 12:54
  Speaker 6: gonna lose billions of dollars. Common sense. Nobody wants to
• 12:58
  Speaker 6: lose billions of dollars, Just billions of dollars on the line.
• 13:02
  Speaker 4: That's the common sense man.
• 13:04
  Speaker 6: Things get moved.
• 13:05
  Speaker 4: But when they have to report, they got to find
• 13:07
  Speaker 4: a reason.
• 13:07
  Speaker 6: Yeah, you can say anything.
• 13:08
  Speaker 4: So this is like literally, this is what they're saying.
• 13:11
  Speaker 3: Yeah, and who knows how much money they were making
• 13:14
  Speaker 3: on the float of those billions as well. There's so
• 13:18
  Speaker 3: much stuff going on, like a municipality side too, if
• 13:22
  Speaker 3: any kind of inducements for giving out or let's say,
• 13:26
  Speaker 3: I don't know if this is true, but like say hypothetically,
• 13:28
  Speaker 3: if they're making three to five percent off of it
• 13:30
  Speaker 3: per year and that's keeping another fund up, like you
• 13:33
  Speaker 3: can't just have that money leave a pool and then
• 13:36
  Speaker 3: all of a sudden, like those dispersements are not going anywhere.
• 13:39
  Speaker 3: If anyone thinks that billions of dollars is coming into
• 13:41
  Speaker 3: organization and they're just put it in a zero percent
• 13:43
  Speaker 3: interest account somewhere, it's not fucking happening. It's not it's
• 13:47
  Speaker 3: not happening at Spotify. It's not happening. That Netflix rumble
• 13:52
  Speaker 3: nowhere nowhere because if so you think the ESPN layoffs
• 13:58
  Speaker 3: for a lot, let that student loon forgive this had happened,
• 14:00
  Speaker 3: it would have been the list of the top two
• 14:02
  Speaker 3: complex make that list who would have got laid off.
• 14:05
  Speaker 6: Ya want to y'all want to make a list the
• 14:06
  Speaker 6: top twenty. You know, all these all these lists about
• 14:09
  Speaker 6: the best hip hop group and the best rapper and
• 14:12
  Speaker 6: the best producer and the best answer make that list.
• 14:18
  Speaker 6: Start with the top Culture Vulture list and then work
• 14:21
  Speaker 6: your way down.
• 14:23
  Speaker 4: Mm hmmm, so we start with the Black Voltures. I
• 14:25
  Speaker 4: still want to do the Vultures Tour.
• 14:28
  Speaker 6: The Villains and Vultures Tour hit the like Biden and share.
• 14:33
  Speaker 4: Shout to Adam twenty two. I would never but it's
• 14:42
  Speaker 4: like Boogie Knight's part too. Boy on it if it's
• 14:50
  Speaker 4: all funny games when it's in the movie and tell
• 14:51
  Speaker 4: us your life Listen.
• 14:55
  Speaker 3: In Investment has considered that that's a credit to false
• 14:57
  Speaker 3: swap for real.
• 14:59
  Speaker 4: That's a different kind of the.
• 15:00
  Speaker 5: Volt of a lifetime Anyway, Better Bay Forward, better man
• 15:08
  Speaker 5: than me.
• 15:10
  Speaker 3: Wow, my graduates from my school being force back drop
• 15:17
  Speaker 3: drop Mike Drop.
• 15:31
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 15:34
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 15:38
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 15:43
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 15:47
  Speaker 1: some of the heinous migrant criminals caught because of President
• 15:50
  Speaker 1: Donald J. Trump's leadership. I'm Christine Noman, the United States
• 15:54
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 15:59
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 16:02
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 16:06
  Speaker 1: are here illegally, your next you will be fine nearly
• 16:10
  Speaker 1: one thousand dollars a day, imprisoned and deported, you will
• 16:14
  Speaker 1: never return. But if you register using our CBP home
• 16:17
  Speaker 1: app and leave now, you could be allowed to return legally.
• 16:21
  Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
• 16:26
  Speaker 1: border and families will be protected.
• 16:29
  Speaker 2: Sponsored by the United States Department of Homeland Security.