Generation Debt - 60 minutes 5-10-2008 pt2 of 2

[moistfaucet]

wait until they could not pay the Debt. then they realize they have been screw up in the beginning.

[unbrokenworld]

Okay, seriously. I just graduated from college, and I travelled a lot in the summer, but I did it with money I already had!! I didn't dig myself into debt for it! That's just crazy!!!

[Ozipeter]

Women buy clothes things they dont need to attract guys they dont like , great life, its all about me...

[avidalocan]

This show is lets every materialistic American know that they are most definitely not the only ones.

[gargantuandick]

she wouldn't make any money as a stripper.

[hidefwater]

The fuck is wrong with kids these days?

[dochokeana]

@hidefwater Their parents and attitudes of other adults who were supposed to be their examples. What did they do? Indulged in "it's all about me, money can buy happiness, money is everything". Instead of teaching their kids the value of money they themselves relied on credit cards for self-indulgence. Thankfully not everyone did it but a tad too many

[81broncoman]

When I was 18 a Bank of America employee at my university mall offered me a real credit card. Not debit or check card, $10,000 in credit right off the bat. I filled out a form, left it with him, and a week later my credit card arrived in the mail. No I didn't overspend, i set it up so I paid it off automatically every month, but God I know hundreds of people who would have. My dad's first credit card was a JC Penny's card at age 27 with a full time job. How the value of money has changed

[mozaks80]

And i need to watch this video again, still seems obvious that these kids should know better, if they dont know the risks of the short term high interest high risk loan that a credit card offers, then don't get one, simple. Greed and impatience can't be blamed on others.

[young5ever]

Two of the cases are airheads, the other's a cry baby. Not that the article isn't true or anything but they all seem like deliberately caricaturized.

[thelumberjackjohn]

saving is not the way to do things wtf

[BARE456]

hahah why does a yank have to give a shite of an aussie! i cant find a job but in school do to me being a vet in all no big bills, and definately no debt. oh poor little whore.

[mozaks80]

How can you blame the banks when these kids, especially the maria in the bmw, couldnt give a shit about being 100K in credit card debt "look at what the banks are doing to me!" Take a little responsibility, the economy is headed for a serious shake-up and these kids are gonna suffer early into it.

[Corsaircid]

@mozaks80

Hi,the banks should know as she is only 20.

They would know this as she gave her age for her Credit Card.

Cheers!

[DIJV79]

I thought this was just stupid Americans, it's also stupid Australians. Keep it up to your a generation that is going to be out on the street with your worthless college degrees your going to get wiped out in the global economy.

[AbsoluteAffect]

3:54 "It's impossible to sit here and just save and save..."

Need to learn how to do that. It's nessesary.

4:04 "I know I will be successful because I will make myself successful..."

Not a good thing to say. That's exactly the same thing people say when trying out for Australian Idol boasting about how well they can sing but 99% of them can't.

You won't be sure about how well your business / ambitions will do.

[jaysmic24]

is this australian? well where ever its from..these people r just as messed up as us Americans...deep sh%$t in DEBT!

[lsnows]

We Americans didn't invent stupidity, extravagance or materialism. It's in human nature. The world doesn't lack morons, just people to underwrite them.

[gargantuandick]

@lsnows

This isn't entirely correct. Western imperialism has always raped and altered 'human nature' in communities that weren't as materialistic.

[ogogosi]

Gen Y will be fine. Just go bankrupt by the age 30 and then start again from scratch. It's the self funded pensioners that will pay the price with their savings melting. Really sad.

[81broncoman]

Some days I think I'm going to be the only person of my generation who will graduate from college with no debt. I can't thank my parents enough for their support, and my employer for letting me only work during the summer.

[angrywinds]

If we're screwed, you're screwed too buddy. LOL don't think you're going to be livng a happy life while everyone else is poor. The economy will be bad and you won't have a job. So you best get a credit card and spend your heart away before its to late.

[silkfarm]

These pieces of sub-human garbage will get exactly what they deserve...fuck this entire generation...i would not take a piss on them if they were burning.

[67675656565655656565]

wow peter overltern is a fuckhead allowing that struggling uni student to get him a drink when he is on 100's of thousands a year.I dont why those dumb bitches were smiling when they said how much debt they were in.I didnt think it was something to be so fucking happy about.

[portantwas]

So much for the young being concerned with the environment and climate change. What are their combined carbon footprint, I wonder?

Not all gen y go OS (its about 30% I read somewhere). I feel sorry for Zoe, who looks poorer than the others, and has a problem with shopping addiction by the looks. The others are priviledge kids brought up badly by indulgent parents.

[visco154]

It's a big joke. These idiots think it's nothing. The reality will be that they will pay enormous amounts of interest the rest of their lives. The worst part is that they will feel and be powerless to their situation.

[erikinhawaii]

Here in Hawaii, it freaks me out seeing these pimply-faced hip hop kids that are 140 pounds driving around brand new cars. These kids have no clue, dumb as rocks ! KIds here watch too much TV and try to emulate rap stars and just like GARGOOLA2 said it took their parents 50 years. I personally think the youth in the US are very ignorant, stupid and uneducated when compared to their counterparts in other countries. Don't get mad, it is just my opinion. Aloha and keep shopping Sheeple !

[GARGOOLA2]

I'm a Gen Y'er and I see it all too often that my friends want to be living the lifestyle their parents are now, when they're in their 50s and 60s. my friends don't realize it took their parents 50odd years to get to the lifestyle they now have, not 2 or 3 years out of uni or school or whatever...

[fcrc2165]

only $20 000 in HECS debt?

must be some useless arts degree...

[ebaum1saik]

Wow, my generation is messed up. Why exactly do we NEED all this stuff? We don't NEED almost any of these things. If you want something, you should have to save for it. We need a cultural shock and that is exactly what has come, hopefully we come out of it stronger and more intelligent about the world.

[LovellyEm]

Thanks for posting this.

I'm in this video.

Debt is part of life. IT's learning to manage it thats important.

Cheers

Emma

[ZeroDestinations]

Debt is Good = Generation Dumb-ass

[Jerkix]

well sucks to be a bank when these my fellow Y'ers don't repay !

[econom1cs]

Poor Possum is her stripper name

[3Havoc]

I should really change my password so my ex can't use my youtube account.

[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

[rymescrimes]

its good the rest r fuken up there lifes

[econom1cs]

What do you do to get 75k

[3Havoc]

The person who wrote that message was my ex she never earned that amount without trying to commit fraud.

[fcrc2165]

LMAO!!!

ur ex is funny.

[skycruiser777]

suck it up fools...suck it up! I've got no sympathy for these fools.