US Economy thread

[TAMU, Knower of Ball]

In my opinion, when something is free it has little to no value.

So Goose and Rockets kids college educations had little to no value for them?

[Hards Alumni]

SPR Releases:
https://www.energy.gov/ceser/history-spr-releases

great resource, thanks!

[TSmith34, Inc.]

  not to mention our oil reserves, which are meant for EMERGENCIES are being drained to perilously low levels.  even now, to start refilling it at higher prices than before weekend took office is another big blunder by this freaking goofball.  why is he taking ANYTHING from the reserves other than to be another source of vote buying is beyond me and quite frankly an impeachable offense

  remember, if ya don't know who you're going to vote for, then you ain't black

You are the biggest unnatural carnal knowledgeing fool I have ever encountered

[lawdog77]

Why does the largest oil producer in the world need oil reserves? That's a relic from a different era.

You don't think we need oil reserves?

[Lighthouse 84]

Milwaukee and South to Illinois will always be more expensive since it is a different blend from the rest of the state.

https://www.api.org/~/media/files/policy/fuels-and-renewables/2016-oct-rfs/us-fuel-requirements/us-gasoline-requirements-map.pdf

Again, last week Kenosha area, at least on I94, was about .60 cheaper than this week.   The Kenosha/Racine area have typically been in the same ballpark as the stations north (I've driven up this way for 4 of the last 5 weeks).  Illinois is a different story obviously, but a half dollar increase before the holiday tells me the article was premature.

[Uncle Rico]

You are the biggest unnatural carnal knowledgeing fool I have ever encountered

Exact reason private school educations should be questioned

[The Hippie Satan of Hyperbole]

You don't think we need oil reserves?

We don't need significant ones no.

Right now, we have about 350 million in reserve. We produce 20 million a day and use about the same. So even if all net imports ceased, we would be fine based on current production.

Does it really matter if its enough for 20 days (current balance) or 35 days (max capacity)?  It was a system put in place when we were highly dependent on importing petroleum. That is no longer the case.

[Hards Alumni]

Again, last week Kenosha area, at least on I94, was about .60 cheaper than this week.   The Kenosha/Racine area have typically been in the same ballpark as the stations north (I've driven up this way for 4 of the last 5 weeks).  Illinois is a different story obviously, but a half dollar increase before the holiday tells me the article was premature.

But the article says the week before?

[Hards Alumni]

We don't need significant ones no.

Right now, we have about 350 million in reserve. We produce 20 million a day and use about the same. So even if all net imports ceased, we would be fine based on current production.

Does it really matter if its enough for 20 days (current balance) or 35 days (max capacity)?  It was a system put in place when we were highly dependent on importing petroleum. That is no longer the case.

I'm going to disagree.  If there is any domestic disruptions the reserve is important.  Think, natural disasters.

[Frenns Liquor Depot]

I'm going to disagree.  If there is any domestic disruptions the reserve is important.  Think, natural disasters.

Or the fact our capitalist driven economy (and relatively high cost of production vs. Middle East) would has caused massive declines in production during recessions or periods where OPEC tries to lower the price to take share.

[Lighthouse 84]

But the article says the week before?

  The article may say the week before, but to say "pre-Memorial Day cost" is a little misleading.  A better indicator of Memorial Day Weekend gas prices would be an article written today, hey?

[Goose]

TAMU

I would say their college educations have less value than if they would have had skin in the game. Three of my four kids are currently in master's programs and footing the bill and all have stated they are more focused due to the expense involved. I will say that it does not hurt that they all are 28+ and decided to take this path later in life.

Have to add, my youngest son went to MU and got a marketing degree and quickly decided it was not for him. He immediately enrolled at UWM for a finance degree and said he never worked harder at school because it was his dime.

So, to some degree I think we did a disservice to our kids for paying 100%, but it definitely put them in stronger position post college. Ironically, none of our kids are using their major in their careers.

[Hards Alumni]

  The article may say the week before, but to say "pre-Memorial Day cost" is a little misleading.  A better indicator of Memorial Day Weekend gas prices would be an article written today, hey?

It got us talking and a lot of clicks though, didn't it?   

[The Hippie Satan of Hyperbole]

TAMU

I would say their college educations have less value than if they would have had skin in the game. Three of my four kids are currently in master's programs and footing the bill and all have stated they are more focused due to the expense involved. I will say that it does not hurt that they all are 28+ and decided to take this path later in life.

Have to add, my youngest son went to MU and got a marketing degree and quickly decided it was not for him. He immediately enrolled at UWM for a finance degree and said he never worked harder at school because it was his dime.

So, to some degree I think we did a disservice to our kids for paying 100%, but it definitely put them in stronger position post college. Ironically, none of our kids are using their major in their careers.

Having someone else pay for your degree may mean that you take it for granted and not work as hard as a result.

But how does that make the degree itself less valuable?

If all of your kids are making their way fine in this world despite not being employed in their major, that doesn't mean their degree wasn't valuable.

[Goose]

Fluff

Of course. Simply saying that they may have learned different life lessons if they had skin in the game. As I mentioned earlier, the base they got in life, especially K4-8th, was the foundation of their education and who they have became. I could not be happier in how they all turned out. Thankfully, they have a wonderful Mom.

[TAMU, Knower of Ball]

TAMU

I would say their college educations have less value than if they would have had skin in the game. Three of my four kids are currently in master's programs and footing the bill and all have stated they are more focused due to the expense involved. I will say that it does not hurt that they all are 28+ and decided to take this path later in life.

Have to add, my youngest son went to MU and got a marketing degree and quickly decided it was not for him. He immediately enrolled at UWM for a finance degree and said he never worked harder at school because it was his dime.

So, to some degree I think we did a disservice to our kids for paying 100%, but it definitely put them in stronger position post college. Ironically, none of our kids are using their major in their careers.

So your kids all had success despite having no skin in the game.

Maybe presence of skin in the game isn't a good indicator of a college students success.

[Spotcheck Billy]

If ya want value, spring for private education, aina?

I guess I am, for other's kids via vouchers

[The Hippie Satan of Hyperbole]

I guess I am, for other's kids via vouchers

Dammit. Now they won't appreciate their education and its worthless to them.

[Skatastrophy]

Dammit. Now they won't appreciate their education and its worthless to them.

I not only don't pay for work but they pay me to work. Work is inherently valueless. I am learning nothing.

I am a drain on the economy.

[The Hippie Satan of Hyperbole]

I not only don't pay for work but they pay me to work. Work is inherently valueless. I am learning nothing.

I am a drain on the economy.

Damn that sucks.

I'm going to be using a gift card to a local place that my kids gave me for dinner next week. Too bad it will be a joyless event because I didn't grind and focus enough to pay for it myself.

[Goose]

Fluff

It definitely will be a joyless night for anyone seated near you.

[The Hippie Satan of Hyperbole]

Fluff

It definitely will be a joyless night for anyone seated near you.

Exactly. All this free food and drink that I not going to be able to enjoy. It will make me so grumpy.

[Lennys Tap]

No need to be hyperbolic. If its good public policy, it should be pursued regardless of how people "feel" about it.

Explain to me how requiring students to repay their debts for 50 years, then having a window where debts are absolved, then closing the window and again expecting repayment is “good public policy”. Buying votes in an election year doesn’t qualify as a good answer.

[jesmu84]

Explain to me how requiring students to repay their debts for 50 years, then having a window where debts are absolved, then closing the window and again expecting repayment is “good public policy”. Buying votes in an election year doesn’t qualify as a good answer.

That scenario only works if one supports one-time student loan forgiveness as an economic stimulus - which I would argue we don't need right now.

[jesmu84]

In my opinion, forgiving student debt does not address any real problem and will not lead to any substantial change. The burden of the student loan falls wholly on the student, that I think is the problem. Colleges have no real incentive to keep costs in check and governments have no incentive to hold colleges accountable in any way. Money just keeps getting created to subsidize the colleges, costs inflate, students have no chance to pay it back. I’m not sure if the solution is to remove the government, because I think that will unintentionally affect the less well off.

I paid for my college through federal loans, grants, and work. We also paid for my wife’s education (MU as well) but her dad “paid” and we paid him back. It took between 7-10 years to pay for our debt.

We told our boys we would pay the equivalent of UW Madison, and they would pay the rest. Well, my son got into a prestigious university, and we wanted him to fulfill his dream and hard work. He was absolutely stressed about the $95K annual cost. We upped it to about $50K per year. We actually pay it all and have a running loan total that he will pay back when he graduates and gets a job. He is in STEM, so we view it as an investment. We are fortunate to be able to do this and will adjust his repayment levels as he adjusts to life on his own paying all his own bills.

My other son is going to a school that actually gives merit based and athletic scholarships and currently has an annual bill of $17K. We will pay that outright and apply the difference of our commitment to his graduate school needs. He will pay back any additional money added to “the nut” as we call it.

The issue with education should be free through college, or at least there should be public options that are free, is that not everyone feels that way. I would absolutely support a “free” Montessori education from 18 months old through 12th grade. I would also support a “free” public college option. We use air quotes around free when we discuss government spending or college “free” inclusions in tuition/costs and refer to them as fake free, but I personally think the right education system is super important. Some people prefer defense spending, for example, so “free” school won’t likely happen. So, education just becomes another political battlefield at the expense of the kids.

Don't we enact public policy all the time that "not everyone feels that way"?