student loan debt
Most college students today graduate with debt, ranging from mild to severe. In most instances it borders on the severe and making these monthly payments is not an easy feat. In fact, a recent survey from Citizens Bank, college graduates are spending a stunning 18% of their monthly wages on student loan payments.

What's even more tragic is that roughly 60% of these students expect to be making these payments well into their 40's. You are tempted to feel sorry for these individuals until you find out that the bastards don't believe in cutting back. They think it's okay to spend on luxuries while being buried to the hilt in debt. To these morons, we say "you deserve all the pain you have inflicted upon yourselves."
Although the Department of Education has determined the national average for student loan debt for college grads at $29,400, Citizens Bank survey found that average student debt for millennials is much higher — roughly $41,286. Sadly, 15 percent of the grads surveyed said they didn't know their total student loan balance and more than a third of grads (37 percent) reported being clueless as to their loans' interest rate.

Interestingly, despite sometimes burdensome loan payments, an large number of millennials are unwilling to prioritize student loan repayment over spending on luxury and quality-of-life items.For example, when asked what they'd be willing to give up in exchange for lower student loan payments, this is what the survey revealed:

Less than half (45 percent) were willing to cut what they spend on eating out.

Just 46 percent said they'd cut their entertainment and social event expenses.

A mere 40 percent were willing to limit their housing expenses (rent or mortgage).

Only half of millennials were willing to slash their spending on clothes, shoes, and accessories.

"They are very committed to living their life the way they want to live their life and as frustrated as they are by student loans, they are not willing to make those lifestyle tradeoffs," said Brendan Coughlin, president of consumer lending for Citizens Bank. Full Story
This is the idiotic [mentality] we have referred to in the past or the desire to live like a king on a soldiers salary. They won't opt for change voluntarily, which means that they will listen only when they are crushed. And crushed they will be in the years to come. When you bite the hand that feeds you, you are doomed to lick the stinky boot that kicks you. This whole generation is going to learn the meaning of the word Humble via force. Don't feel sorry for them; they are getting only what they deserve.

In the interim, this kind of behaviour indicates that the markets will run much higher. The crowd is still addicted to the theme of "money for nothing and chicks for free". Translation; greed is the main driving force behind everything now, and the only way to kill greed is via pain and suffering. However, that takes time as in the interim; Peter will steal from Paul, Mary, and Jane to maintain his lifestyle. And when that fails, he will sell even his soul. The trend for Greed and ruthlessness has room to run; it's not trading in the extreme ranges.