Generation Debt - 60 minutes 5-10-2008 pt1 of 2

[WizardRealms]

this is why when people ask me why don't i get a credit card or a student loan, i say NO, NO NO NO NO AND NO.

[WizardRealms]

there is so many people like THIS it's stupefying. we're all fucked.

[dochokeana]

There's also this whole belief that once the person is such and such an age they are legally "an adult". Maturity depends on the way the person was raised and what they were taught not just age. Yet the atmosphere is "shelter them then kick them out once they reach 18 or 21". The credit sharks are out to get them at that age because parents can no longer interfere (legally) and some don't feel like doing it. What else can you expect but reckless self-indulgence?

[dochokeana]

I wouldn't put 100% blame on these "adult kids". Let's think of the atmosphere they were raised in first. Parents and grandparents more concerned with "keeping up with the Jonses" than spending quality time with kids. They'd hand over that job to schools yet would refuse to fund them forcing schools to turn to corporations. Kids would be plunked in front of TVs to keep them quiet. It's time for a major overhaul of what it means to be a "family" as in people always where for each other.

[pierrepaul591]

Someone should slap that airhead girl, "weeeeeeeeeeeeeeeeeeeeeee!!!"

[TheChromelover]

I like the woman's confidence and independence at 02:25 . She says it is her bills, her money, her life. But I am sure she will run back to her parents when she cannot handle the debt mountain.

[moistfaucet]

don't blame the one that issue it, blame the one that use it.

[Supreme7198]

1:27. She is, hands down, the finest MORON  ever.

[mightmagic962]

If you spent $1500 in one week in frivolous items - but only once in your life, I get that. But what on earth is she buying week after week that costs that much. People pay $1500 a week on rent, food, fuel, mortgage, child care, etc. She doesn't have any of it.

[mrfriendlyguy]

If you know that you're gullible, and you know the banks think you are gullible, why do you still fall for it?

[lsnows]

Who on earth is crazy enough to loan money to the likes of Amanda? Those people are dumber than the spendthrifts they loan to. How on earth are they ever going to get their money back?

[mrfriendlyguy]

@lsnows The same guys that offered NINJA loans and gave us subprime mortgages. LOL.

[avataz]

I blame television

[frabjousness]

she thinks some rich knucklehead is going to fall madly in love with her and continue the gravy train with his own resources

[misdelivery]

Whoa. Hahaha. We are not the worst! Go America!

[smedheat]

hello, consumerism is what young people have been feed all their lives. what do you expect?

[xmoonbloom]

omg i want to slap that girl so hard! she sits there and acts like she is a victim of banks and in the same breath insists she needs a $60,000 car for emergencies. she thinks she is so cool. gross.

[Antoniac123]

Wow, that is so crazy I have to wonder if it's even real.

[Bisquack]

Do not marry that woman, that is a guaranteed divorce and alimony, she'll probably try to get pregnant first to get child support as well.

[sfsgsw666]

"Just whack it on the card" ? Sorry but that describes every single middle aged women infront of me when I go shopping for food.

Nice targeting of younger people.

[thelumberjackjohn]

i bet she's got no money now

[Rocketmama0206]

Good God--it isn't just Americans...

[lsnows]

Indeed not. America didn't invent stupidity. It's in us all!

[ryanwas69]

as usual pretty women looking for guys to marry and divorce take 50 and pay bills if ya its bs know women who do it every 3 to 5

[jaysmic24]

stupid B^%#$%tch!

[lsnows]

I shudder to think about what will happen to the poor sod who marries her!  HE'LL suffer!!

[lsnows]

Oh, yeah, I'm referring to the brunette, not the redhead.

[reaperette]

Amanda needs to learn the value of a dollar. Talk about dense. I hope she gets what's coming to her.

[nerdlymike]

what fuking idiot gives 10,000 credit to a 18 year old kid??????????

[Buttsrgreat]

I have enough trouble with my student loans, I'm 29 and I don't even have a credit card, just a debit.

[81broncoman]

Somebody needs to smack that Amanda bitch across the face, no warning no lecture, just action.

[Wcoltd]

She's absolutely insane.

[BigPreme74]

"If I can't afford it, I will just go bankrupt". For a person like her, they need to bring back debtor jail.

[portantwas]

I think Amanda is playing up the 'irresponsible gen y' a bit. I also suspect she works in media (she sounds too educated to be earning JUST $35 grand - receptionists in the public service earn more than that!). Blame her parents for letting her live at home bill-free.

I earn over $55,000 and I don't have a $9,000 TV (like Zoe)! Stupid, stupid kids for not cutting up the credit card after the first impulse buy.

[GrieverRing]

Well considering the baby boomers and gen x racked up more than 10 TRILLION dollars of debt in the US only I say 600 billion isnt bad. No only that but the cost of living now is far too high for middle class jobs to pay now. A normal sized house is $400,000 in BC Canada and starting wage for an office job is around $30,000-$40,000 a year! So if have had 0 expenses other than that house it would still take you ten years to pay it off.

[67675656565655656565]

yep thats like that in this so called lucky country australia.But it wasnt always like that my pop paid of his house in 8 years on a average wage supporting a family of 3 kids.Lived in a good area.But he told me his house was 12k and wage was 5k back in the 70;s.But that is like bein on 50k now payin of a 120k house.Impossible for this to happen now.

[itstimetospill]

I guess I'm a part of gen Y since I'm 28. Fuck these greedy pieces of shit!!!!! They will die from the bird flu in chemtrails.

[ZeroDestinations]

I believe their delusional greed will lead them directly to government labour camps.

[TrueBloodLine]

The Illuminati now have this generations balls in a vice grip.

[Jerkix]

rofl 60 minutes.. i remember when it use to do hard journalism. Now it's just ACA for old farts.

[susannal1]

3havoc wat do u do??

[susannal1]

omg amanda is my age and she spends twice as much as she makes every year WTF

its iditos like her who r ruining MY chance in the future of owning a home

and we're not targets by banks! im a student and i dont make enough to get a credit card so its not like theyre just chucking them out to people!

please amandas mum! cut up her credit cards b4 she blows another 2 years of her salary on a fukin bmw! omg stupid

[evangelionbh]

i have been been waiting for someone to upload this, as i need it for a class assignment. Yeah.... these people interviewed really are foolish. thanks for upload.

[econom1cs]

Amanda is just a slut

[setiono82]

I am a Gen Y. I don't have that kind of debt, and I earn a decent salary for my age. Yes, I love fancy cars, but I don't drive one. Those people were the worst cases. Yeah, Gen Y is being stereotyped.

[ebaum1saik]

Of course not everyone in Gen Y follows the trend, but looking at the people at my age, 21, there are a lot of people in debt. Most students have no savings and huge student loans. Sure there are people like you who don't have debt and me, who by the time I graduate will have already paid my student loans, but we are in the minority.

[3Havoc]

got no sympathy for this fools either...dont buy something u cant afford...i mean im bad myself...i shop a lot and club a lot but i only go for my set limits in a weekly basis...

Ive been independent since 18 and never rcvd monies from my parents or centrelink ever!!!

I got savings and term deposites and im a generation Y...

IM A GENERATION Y BUT IM PROUD TO SAY I AINT LIKE THAT!!

[3Havoc]

generation Y is being steorotype right now...

im 23, earning 75K a year.. my only debt is my hecs and even that i make voluntary payment aside from my tax deductions...i got 2 credit card with 5K & 7K limit which i hardly use...its all about self disciplene..and own my own car which i paid upfront...that cost me 30K..

they should make it harder to obtain loans and CC to avoid temptations for Gen Y..

i have one investment property and living away from home..

im A GEN Y AND DOING GREAT

[skycruiser777]

suck it up kids...your about to find out what the meaning of pain really is!