Positioning for the Great Reset

bradgator2

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That's the thing. The article says they did not finish their degrees.

I did find a little more info in a forbes article:

The student loan cancellation initiative will be implemented through the Closed-School Discharge program for students who attended ITT Technical Institutes. ITT, a national chain of for-profit schools, abruptly shut down in 2016 following investigations into potential widespread wrongdoing. The closed-school discharge program allows borrowers to get their applicable federal student loans forgiven if they are unable to complete their degree program due to a school closure.

According to a Department of Education press release, the administration’s action today “extends relief to borrowers whose attendance at ITT overlapped with a period during which the institution engaged in widespread misrepresentations about the true state of its financial health and misled students into taking out unaffordable private loans that were allegedly portrayed as grant aid.”

......

this new relief only applies to borrowers who were unable to complete their degree due to ITT’s closure, and did not complete their degree elsewhere. It does not apply to borrowers whose school closed after receiving their degree. Only federal student loans qualify, not private loans.
 

FireFoley

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I did find a little more info in a forbes article:

The student loan cancellation initiative will be implemented through the Closed-School Discharge program for students who attended ITT Technical Institutes. ITT, a national chain of for-profit schools, abruptly shut down in 2016 following investigations into potential widespread wrongdoing. The closed-school discharge program allows borrowers to get their applicable federal student loans forgiven if they are unable to complete their degree program due to a school closure.

According to a Department of Education press release, the administration’s action today “extends relief to borrowers whose attendance at ITT overlapped with a period during which the institution engaged in widespread misrepresentations about the true state of its financial health and misled students into taking out unaffordable private loans that were allegedly portrayed as grant aid.”

......

this new relief only applies to borrowers who were unable to complete their degree due to ITT’s closure, and did not complete their degree elsewhere. It does not apply to borrowers whose school closed after receiving their degree. Only federal student loans qualify, not private loans.

These students left after March 2008. The school did not close until 2016. so okay they were at the school when their was something going on. but what happened after. did none of these people do anything?
 

bradgator2

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These students left after March 2008. The school did not close until 2016. so okay they were at the school when their was something going on. but what happened after. did none of these people do anything?

The whole thing is weird
 

BMF

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I did find a little more info in a forbes article:

The student loan cancellation initiative will be implemented through the Closed-School Discharge program for students who attended ITT Technical Institutes. ITT, a national chain of for-profit schools, abruptly shut down in 2016 following investigations into potential widespread wrongdoing. The closed-school discharge program allows borrowers to get their applicable federal student loans forgiven if they are unable to complete their degree program due to a school closure.

According to a Department of Education press release, the administration’s action today “extends relief to borrowers whose attendance at ITT overlapped with a period during which the institution engaged in widespread misrepresentations about the true state of its financial health and misled students into taking out unaffordable private loans that were allegedly portrayed as grant aid.”

......

this new relief only applies to borrowers who were unable to complete their degree due to ITT’s closure, and did not complete their degree elsewhere. It does not apply to borrowers whose school closed after receiving their degree. Only federal student loans qualify, not private loans.

This is just a step 1....get this passed, then go on to the next thing - then the next and the next. It's just like how they approach gun control - they go after a dozen (or more things), get a couple (complain they didn't get it all, and act like they compromised), then go after more gun laws the next session.

This is similar to the "free college" mantra. Biden announced 'free junior college'....and if they get it they'll then go for free 4-year college....and then shoot for grad school. A typical dem tactic.
 

Concrete Helmet

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Better bump this back to the top....a little strange lately with global energy shutdowns and fictitious labor shortages...social network outages, vaccine mandates and huge conflict amongst actual numbers who have taken the shot....high grade military equipment left in the hands of our sworn enemies a stones throw from Israel....should I go on?

The power and social media outages will be the key for when they throw the switch on the currency reset....take this warning as you want but there are things happening that you can't deny.....


we are getting close...very close.
 

Concrete Helmet

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BTW if you're banking on bitcoin you will be sh!t out of luck when there is NO POWER... besides they've already figured out the block chain....I urge all of you to go buy a sh!t ton of physical silver.....immediately.
 

Concrete Helmet

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Was there a hidden message in Powell's speech the other day...worst inflation in many years and we are tapering as we speak....gold been on a steady uptick and silver starting to follow despite rates and the dollar...more and more macro and ex employees of the FED pushing people to get to gold while there is still some around.....
 

FireFoley

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Was there a hidden message in Powell's speech the other day...worst inflation in many years and we are tapering as we speak....gold been on a steady uptick and silver starting to follow despite rates and the dollar...more and more macro and ex employees of the FED pushing people to get to gold while there is still some around.....

No hidden message IMO. Powell had finally subtly said that inflation is lasting longer or will last longer than he thought. See this week's PPI and CPI. The "owner's equivalent rent" BS is finally showing up in the CPI. Anyway, Powell is interviewing for another term, and if he starts talking rate increases he will be out and Brainerd will be in. she is all about MMT and climate and other non Fed BS. Powell wants another term and if he gets it, he can then step on the gas. This decision of the next Fed Chair could be interesting.
 

GatorCatsi

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Was there a hidden message in Powell's speech the other day...worst inflation in many years and we are tapering as we speak....gold been on a steady uptick and silver starting to follow despite rates and the dollar...more and more macro and ex employees of the FED pushing people to get to gold while there is still some around.....
The Fed is really stuck between a rock and a hard place.

They can't raise rates and they can't stop the print without collapsing the global economy.

Gold and silver look smart.

Still accumulating bitcoin, though.
 

5-Star Finger

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This is just a step 1....get this passed, then go on to the next thing .

Yup. Back in the wonderful old days of realtor and appraiser collusion if you got screwed by having an unsustainable sales price due to a high appraiser which was then used for financing there was no get out of jail free card. Neither the lenders, the investors, nor the GSEs bent over backwards to get that extra principal forgiven.

You signs your name and you takes your chances.
 

Concrete Helmet

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Big day today. Anyone else moving up their stops? I tend to over react to pullbacks from time to time and have cost myself some gains over the last year however I'm down about 50% of my gains after the last 3 weeks.
This thing is starting to remind me of turds circling the bowl.....

Also considering selling one or more of my rentals before rates pop up and drag the price down. Just got a notice from our longtime tenant at one of our commercial properties (10 years) it's paid off and I think it's time to cut it lose....Anyone else cashing out on RE?
 

Concrete Helmet

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Memo to self.....set stops BELOW 200 day moving average...F VGGGGG....bye bye AMD and UEC.....
Me after yesterday's rally
giphy.gif
 

Detroitgator

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Memo to self.....set stops BELOW 200 day moving average...F VGGGGG....bye bye AMD and UEC.....
Me after yesterday's rally
giphy.gif
A pretty smart guy told me to stop setting stop orders... he said that if all possible, you should set price alerts at your up/down targets, then check, then decide what action you want to take. The algo's "know" every retail strategy (and variation) known to man, and they'd drive that nano-second spike to trip every stop order on the planet... set alerts, then review and act if necessary (if you can and have immediate access to your positions).
 

Concrete Helmet

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A pretty smart guy told me to stop setting stop orders... he said that if all possible, you should set price alerts at your up/down targets, then check, then decide what action you want to take. The algo's "know" every retail strategy (and variation) known to man, and they'd drive that nano-second spike to trip every stop order on the planet... set alerts, then review and act if necessary (if you can and have immediate access to your positions).
Thanks....I'm alright with stopping out and jumping back in(wash sale be damned) but the AMD was bought at $88 and that one was my fault(too tight)....the uranium stocks I've been in for nearly a year almost all kissed the 200 DMA and shot up....thankfully the ones at .20-.40cents didn't fall that far or being OTC the order never sold.....now it's just a matter of waiting for history to repeat itself....I hope.
 

Detroitgator

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Thanks....I'm alright with stopping out and jumping back in(wash sale be damned) but the AMD was bought at $88 and that one was my fault(too tight)....the uranium stocks I've been in for nearly a year almost all kissed the 200 DMA and shot up....thankfully the ones at .20-.40cents didn't fall that far or being OTC the order never sold.....now it's just a matter of waiting for history to repeat itself....I hope.
Yeah, the real problem is when they trigger a flash crash, retail gets flushed, algos buy, then price shoots right back up... All in seconds.
 
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Detroit, I agree with your thinking. Stops create a false sense of security. In many ways, they make your life more difficult. The pandemic market calls for deeper interpretation than simple algothought.

In reality the majority of the market has been in bear territory for most of the year. The financial media over focuses on the big-cap indexes. That only tells a fraction of the story.
 

FireFoley

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Agree with a lot said about Stop orders. I personally do not use them, but am not against it especially if not able to watch 24/7. But I recommend using Stop LIMIT orders. that way if a caught in a Flash Crash, you won;t get filled at the very bottom. As mentioned about the Algo's, that is akin to the old NYSE Specialist who could see every order on his book, and would move stocks at quiet times just to get the stop orders for himself.
 

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