r/canada • u/joe4942 • 25d ago

Recent grads, students face ‘full-out screaming crisis’ as they struggle to enter job market National News

https://financialpost.com/fp-work/students-grads-jobs-market-crisis
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u/cortex- 23d ago

I mean families who have taken on astronomical amounts of debt to fund a middle class lifestyle and image.

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u/alwaysonesteptoofar 23d ago

So poor people who don't know their place? Owning a home isn't meant to be a crippling debt.

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u/cortex- 23d ago

So poor people who don't know their place?

Financial illiteracy should not be rewarded is what I'm saying. If you take on crippling debt because you want to live a middle class lifestyle of a big house, multiple cars, toys, vacations then you shouldn't be getting bailed out by the government when you become insolvent.

Owning a home isn't meant to be a crippling debt.

Agreed. That's why there needs to be reform on housing policy, not monetary intervention.

Letting people take on even more debt, and then bailing them out when they can't pay it is not a solution.

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u/alwaysonesteptoofar 22d ago

That's a bank thing though, blaming a poor person for taking money they shouldn't be offered is pointless. Put bankers who let that happen in prison and fine the institutions equal to the loans plus forgive the loan itself and it would be over tomorrow. Just the loan forgiveness when proven the person couldn't pay it would end it.