Bankruptcy attorney here: Everything in this video is 100% accurate. The unholy push from attorneys to make money in Chapter 13's is real, takes advantage of the most vulnerable, and has a racial bias. If you walk into a Chapter 7 hearing room and then a Chapter 13 hearing room, like I have thousands of times, the racial divide is obvious.
Thank you for your input. Once again, the state of things across the pond are simultaneously infuriating and perplexing to me. Hopefully this improves sooner rather than later. I'd like to visit the US one day :/
@@freckledginger Doesn't it hurt to think that?! We're supposed to be the greatest country on Earth (it's a blanket statement, not my statement). Tell me what makes us the greatest again? 🤔🙄
Somehow we managed to laugh our way through our credit counseling courses. We filled bankruptcy after I had a stroke at 22 due to an unknown genetic condition. I will be disabled for the rest of my life and the course kept talking to us like we were idiots with a shopping problem versus two people experiencing something life changing and traumatic just trying to keep from becoming homeless. It was pretty demeaning.
It's bcs it's thought of as something for people who can afford going bankrupt. like everything else in the US nowdays. If you have money nothing is ever an issue. If you don't have money everything becomes an issue. And the states punish people who don't have a lot of money. Often by making them pay even more. People are met by this word expectation that you haven't paid just bcs you don't feel like it. You have the money sitting in an account, but you just don't want to pay it. And you are punished thereafter. There aren't this common sense understanding that many people simply CAN'T pay.. that you actually don't have the money.
"When things are designed to become harder for everyone, for the rich they just become a bit more expensive, and for the poor they become basically impossible".
thats the gap, the closest it was, when he had all those baby boomers people, had jobs, people had money, people were happy, now those people are retiring and everyone is being stingy on hiring and pASSING down knowledge, remember when concrete used to be the best, then suddenly that recipe was lost and we have to use this downgraded trash, soon to expire concrete that even a sandstorm of 5 days could erode. The rich keep getting richer, because they are all part of the same community, destroy their community and they lose all of their shit, mind body and soul however will never happen because it could happen.
Exactly. That’s why we love Biden’s stimulus. We don’t care about inflation, I already have money. That’s why I am a Democrat, they keep my money safe. Print that money baby! While the poor and middle class tread water to survive off the stimulus, us rich, we just add that stimulus money into an artificial market. Due to all the QE, the poor and middle class are losing their purchasing power, while us rich were just added steroids with the QE. This sucks for poor people, but for me, Biden keep printing that money! I am baffled why my rich friends voted for Trump. As a Chicagoan, the Democratics always take care of your pocketbooks. And you are telling me they are just printing money?? 😌
I graduated in 2009 and worked many jobs for years to stay ahead of it. Instead of trying to enter my field after tons of failed interviews, I took entry level work. Ironically my student debt shaped my future more than my degree.
I just graduated from my master's degree and the pressure is on me to get a job and they raised the idea that if I can't get an entry level position in my field, I should just go to Walmart or something. You know how demoalizing it is just entertaining that option.
@Umbrella Corporation Why do a$$holes assume that people who have student debt don't know that? It's not like we have a time machine to go back and change the past!
@@lyreparadox the sick thing about it is that if you went to Walmart over college, then you'd have people telling you that you're wasting your life.... 🤪🙄
@Umbrella Corporation I'd say, at the start of my career, my degree felt pretty worthless. But as I built up more job skills and experience, it helped me secure better paying jobs as part of the qualifying process. But the debt burden is simply not worth it. Even though I'm fortunate for it to not affect me as badly anymore, starting my young adult life with the debt was flat-out hell.
As compared to late night hosts that sit on their joke after finishing the punchline, even when we don't have audiences right now lol I appreciate the "if you heard it, you heard it" approach
chapter 11 bankruptcy is the ideal get out of jail free card for big corporations, meanwhile chapter 7 bankruptcy is meant to leave a permanent scar on an individual in trade for getting their foot off your neck.
@@ryanwallace983 But thats 7 yrs of hell trying to rebuild your credit, meanwhile businesses can either liquidate their equity and reinvest it back into their company with no consequences or get new loans and go right back into major debt. Those options would never be available for avg joe
@@madgreek253 I agree it’s hard, I don’t know who will give me student loans when I ask in the fall I co-signed a loan for a friend and got burned, I haven’t declared bankruptcy but that loan will follow me until it’s paid off completely, one way or another It’s already tanked my score from 700plus to under 600 So I get the struggle, I’m lucky, I have a girlfriend who makes enough money to support me and her at the same time and put money aside, that not something most can claim But the fact remains that it’s not permanent, avoid debt like the plague and live exceedingly lean and you might make it thru
@@madgreek253 and companies have similar options to personal bankruptcy, complete liquidation or reorganization of debts, it’s not so different, the only difference is that if a company folds, the debt is tied to the company, not an individual (ideally) so a person can start over
My 4 year old cousin was in the hospital for one month battling leukemia before he passed away. Just one month of bills forced my Aunt and Uncle into bankruptcy.
My Aunt & Uncle owned the only lumber yard , the only furniture store & the only real estate company in their town + they owned their home & 2 cars outright. My Uncle got Cancer and died a long slow painful death ... Because of the Medical Bills my Aunt had to sell off all the businesses, both cars, take out a mortgage loan on the house and go to work for the people she sold the real estate company to as an agent . All that just to keep her husband alive just a little bit longer .
@@shydreamguyman4098 That is why instead of discussing making bankruptcy better we should be looking to fix the medical system. Its just ridiculous what they charge in medical bills and how little insurance is willing to cover.
I filed for 13. Came back with the same amount of monthly payments I still couldn't make and the lawyer walked with the money I needed to make those payments.
Lawyers and accountants have lobbied for just that. Good luck. Positive vibes from New Hampshire and remember to be kind to each other and yourself during this pandemic and social crisis
The awful things about students loans is that most students need a co-signer which is usually a parent, so even if the student dies, the loans don’t go away. They just get stuck with the co-signer. There really is no getting away from them
You only need a co-signer if you’re getting loans that are not federal loans. If you only receive federal student loans (not PLUS loans) you have no co-signer and a cap on what you can borrow based on your year in school.
My dad and I focused on getting those private loans paid off first for that reason. Now I’m stuck paying the 30k plus federal loan but thank goodness my dad is off the hook. Mind you, been trying to pay this for like 12 years. Ugh. Barely paying the fuckin interest
Stop taking out loans then. What is wrong with you that you believe you can borrow money for a better future and then when that doesn’t work out the person who loaned it to you was a bad guy
Another fun fact: being a young adult who needs a co-signer on loans also completely screws you over at every turn when your parents have filed for bankruptcy. I lucked out by getting into a school with comprehensive financial aid, but if I hadn't done that, I wouldn't have been able to go to college _at all._ Then after graduation, I couldn't buy a car or rent an apartment because I had no credit history and still no one to co-sign for me. Things are better now because I've also had good luck with my job, but it's a different story for my brother and many of the people I graduated high school with. The world is just built to keep the rich rich and the poor poor.
@@chloepeifly I personally feel it might also be something that has to do with him being British, even with a live public there was almost always a moment in which he made fun of himself (and at times the jokes he made about himself were harsh).
He’s liberal so he goes with the flow - instead of being a wittle baby afwaid of anything new omg so scary what will happen to me me meeeee. I made it political.
I actually had to go bankrupt once, and the stigma around it is so insane my dad said he "didn't know who taught you that was an OK option" meaning he taught me better than that. It took a lot of restraint not to answer "i got the number from _your_ bankruptcy papers, from the time _you_ filed for bankruptcy"
My thinking is on bankruptcy is, "You guys were dumb enough to lend me this money so this shouldn't surprise you if you'd done your homework." Debtor's prison doesn't exist anymore, so just tell creditors to piss off and block their number. Your credit rating will reset over time.
In Czech Republic it's pretty normal. We have only equivalent of chapter 13. And for filling for bankruptcy you need to be able to pay third of your debts in something like three years.
Too poor to be poor, that's... Insane. This is why people are being radicalized into socialism and even *gasp* communism, because Capitalism has become the very thing it swore to destroy (communism USSR dictatorship) the starvation, the homeless, the poor people of the capitalist propaganda that was sold during the height of the red scare/cold war. I'm ashamed to be an American, it's what really radicalized me, I want to make my country something to be proud of.
My mom has filed for bankruptcy twice. Once because of Dad's medical debt from the last few years of his life. Once because of her own medical debt for spending 4 days in the hospital without insurance.
@@lassmalgehen 86% of HBO's revenue comes from subscriptions to their premium cable channels. Nobody is making much from posting these on UA-cam, it's borderline charity.
This hit home for me on multiple levels. My Mom had to declare bankruptcy in the 1990s not long after I graduated high school, and I nearly had a nervous breakdown at work over the thought of it because, in my brain, it meant her life was ruined (thankfully, my manager at the time had been in the same boat many years ago and reassured me that things weren't as bleak as I imagined). And then there was the time 20 years ago when I lost my job and I got one of those "instant loan" checks (y'know, the ones with batshit-crazy interest rates) in the mail the very same day, and my Dad had to talk me out of cashing it. I imagine the way I felt holding that check was the same way newly-bankrupt people feel when the credit card offers roll in: desperately confused.
That comment about a judge recommending some one get a job with higher wages reminds me of the time a doctor recommended me to get a job with health insurance
well, you could always do some crime and go to prison. If you're really sick, they are forced to give your medical treatment. ;) (but they aren't forced to give you good medical treatment though...)
@@Robbedem I was going to make a joke about having cancer so bad that you have cancerous lung-tissue growing out of your eyeballs and a prison doctor just giving you a used, off-brand Band-Aid for it; then I realized, that is probably something that has actually happened here.
Hah! My doctor told me I was getting old and to quit my good paying, with benefits, job. I retired from the job. A**H***! I did file bankruptcy, once. Child support put me in that position. (I'm a woman and that's another story}. Since then, no credit cards. If I don't have the cash for it, I do not buy it. I'm not the worse for wear for it, I have everything I need. It's been 20 + years now
Again, colleges fucked you over, they saw government money and raised tuition fees, wanna know where the money goes; look at that beautiful new campus.
@@carlosrivas1629 Colleges have had their budgets slashed for decades. The money you think they have been getting from States and the Federal Govt (through the State) has disappeared. THIS is why Colleges have raised tuition. They aren't getting the money they used to from the Govt. Your answer is actually backwards. Thanks for trying though.
April 2020 "I know its weird having this void background but due to the Covid-19 pandemic we have been forced to move out of our studio" April 2021 "hey get the fuck out of my void. It belongs to me"
I think it's more like, "How can I personally profit from this person's misery?", which ends up actually making it worse. It could be total coincidence that all our lawmakers leave office multi-millionaires. Total coincidence...
I'm sure the laws make it so your student loans must get paid before you can spend a dime on final arrangements. Of course your living heirs will get offers to finance your funeral expenses with an installment loan that only charges 26.99% over prime.
Don't know if you're serious but there's a mortician UA-camr who talks about the different ways you can dispose of your body as well as laws and things you have to sign. Ask A Mortician.
Ahh, the "why don't you get a job that pays more" advice, my favorite. Don't they know I love living my life not being able to afford anything? It's so exciting; I do it for the thrill really.
even better, the jobs that can pay you more are always out of reach because they're always looking for someone either more qualified or someone who's not overqualified, so the jobs you can get are the ones that just barely keep you alive
I know. Not to mention the cost and risk of switching jobs is enormous. Long story short, in 2003 I took a summer job that promised 40 hours a week, would pay $0.50 over minimum wage, and was close to home. But not only did they not even schedule me for 40 hours a week, any time business got slow they sent me home early because I had the least seniority. I quit after a month and went back to my previous summer employer that did give me 40 hours a week, but that month of reduced hours cost me in the neighborhood of $500 dollars. Fortunately I was a teenager living at home so no threat to my finances, but to someone trying to make ends meet on low wage work, that can be devastating.
“What’s that? You want us to pay you a more livable wage? Nah! Come back to us when you worked for us for 20+ years of excruciating labor, then maybe we will think about it.”
Why didn’t you? You chose the field you went into. You chose to spend the income you had- you chose to not have adequate savings and investments for an emergency.
After almost facing bankruptcy a few years ago, I’ve managed a 57% gain, reaching $82K in three months with stocks and penny trades. Now, I’m torn between stepping back due to stress or continuing with what’s working. I'd appreciate any advice on scaling down, diversifying, or other strategies.
After experiencing bankruptcy, I found that diversifying investments helped me recover. This approach balanced risk and brought stability without relying on single trades.
Working with an adviser helped me recover from bankruptcy by diversifying my investments. This balanced my risk, added stability, and provided a steady path for growth, reducing financial stress along the way.
My CFA Julianne Iwersen Niemann, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for sharing, I must say, Julianne appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive.
As long as lobbying is legal, John will always have content. Imagine if legislation was passed based on what’s best for the people instead of who paid to have it pushed.
If that happened, America might spontaneously turn into Finland or Switzerland, where political accountability runs hand-in-hand with citizens demanding a higher standard of governance.
Being a student, we always joke about getting hit by a city bus or school shuttle and the school paying for a bit of our student loans. I'm pretty sure that's not true, but like... a guy can dream.
Haha, I know a dentist who paid off her student loans, bought her parents a house and a BMW for herself, after being hit by a city bus her last year in dental school.
"If a car wants to hit me then it better finish the job or wait for next month" is the point I'm at rn because god knows college would make me do exams if I was hospitalized for a car collision lol
Dang. Can't get rid of trolls at all. I've reported the F*ck me troll over 100 times and it still shows up. Anyway, I had a good laugh over the "Now You See Me" thing.
@@sophierobinson2738 I've noticed that spam accounts have gotten out of control recently. I've seen them in about half my recent comment reply notifications
@@RainbowFrogger I think you took the wrong lesson from that story. What she should have done is stayed single, got a finance job and spun money around in the "value turbine" and made a billion dollars for her boss instead.
@@RainbowFrogger I know you were being sardonic in relating the Conservative perspective which is the equivalent of them playing the world's tiniest violin for people with sob stories and preaching AT them about self-reliance...while of course applauding business and corporations that enjoy exploiting bankruptcy laws which use taxpayer subsidies to buoy their profits for which they duck paying taxes on.
Corporations and the upper class have squeezed the lower class almost to death. Trapping you in debt forever turns you into passive income for them. Student loans getting away with being predatory and colleges being so outrageously expensive is trash. This level of greed is criminal
What a sight it would be if US citizens left in droves post-highschool as protest to the current debt-fueled education 'industry' in favor of the EU for a practically free secondary education... Not so sure people over here want so many of us though 😄
Slaves cant have debts. Did someone tell you they do? Tell you them do when theyre acting like theyre something from fiction and/or tortured into appearing to possible be?
When I couldn't afford to file I just stopped paying on my debts and never answered the door so as to avoid being served and after five years my debt was cancelled by statute. Winning!
When I got married to a Canadian, I discovered my credit history had not traveled with me to Canada. Clean slate! For awhile, student loan creditors were calling me to threaten lawsuits but since it would cost more than my loans value to pursue, that's not gonna happen.
But you had to give up living in the greatest nation on earth 🙄 Instead you have to live in this shabby Canada and can’t even go down to the local Walmart and buy an AR15
That lawyer was being completely literal. It's much easier to resolve bankruptcy when you can sue the company that annihilated your husband with a delivery van.
Assuming you have the money to take a massive company to court... Which if you are filing bankruptcy you certainly don't. And a criminal case vs the driver wouldn't do anything either. And if they are driving that van they most likely are about as poor as you are and suing the driver again... doesn't do anything. It's a very expensive situation, getting justice from a large company in civil court.
watch John Oliver long enough and you'll realize that virtually every problem we have boils down to uncontrollable human greed, which is SO entrenched and deeply corrupted in our government, that nothing will ever be done about it until it's probably too late... this show is depressing af yo
@John Hernandez this is an argument for better government. government must exist to uphold the greater public good; by force if necessary. taxes build roads. taxes could be used to build a better society, too. unfortunately our government exists purely as an egotistical expression of the individual rather than an ideal institution which is above such petty concerns... and so here we are...
"See, that was your problem, you got to stop having children with expensive and deadly medical conditions. That kind of reckless behaviour will lead you to debt."
@@lenon3579ify There was a lady I talked to once who had a life threatening illness that required maintenance to keep her alive. It was that mix of 'not immediately life threatening for a short period of time' enough that the ER is forced to help you and 'survival is too expensive for you to afford' that just straight up murders the poor in America. Like how diabetics need insulin. So what she did was she was taking out student loans so that she could get enough money to afford her medical treatment and just... Go to school aimlessly. She had no intention of paying it back, and the moment the student loan people stopped paying her, she would die from this medical thing. She was getting food and housing by volunteering for what amounted to a communist organization. She planned to fight capitalism until it inevitably killed her. What else was she supposed to do? And this communist organization doesn't have wages. They feed her and house her and clothe her in exchange for her labor. She doesn't own any property. The only personal property she really has are her clothes, toothbrush, and phone. So how are the loan sharks going to garnish a wage she simply doesn't have? The only problem is that the communist organization is too poor to afford any kind of non-volunteer/non-pro-bono medical and legal help. She was extremely educated, intelligent, and was an excellent organizer and leader for this communist organization. If medical and school debt weren't things, she probably would be a contributing worker bee for capitalism. It's bizarre to me that capitalists push people into corners like that. They could have their cake and eat it too if they just made sure that people could survive in some minimal level of comfort. They could steal all the wealth of the world and be filthy rich with everything they could ever want if they kept workers minimally happy. Instead, a large chunk of Gen Z is communist, and older generations are starting to be openly critical of capitalism. At this rate, it will crumble before Gen Z has grandkids.
@@aldenheterodyne2833 Nice story, but that's not how student loans work. It is also not how healthcare costs work in the US. You also clearly do not understand what communism is.
I´m from Germany and I first thought the topic is "bank robbery" and at the end of the video, I´m pretty sure, bank robbery could be an easier solution
Is Chapter 7 similar to German "Privatinsolvenz"? Five years you can only keep the part of the wage you need for living and after that period you are "free" again. I guess they reduced it to three years meanwhile.
"I am not a lawyer, I just have the face of one, and, by weird coincidence, I'm also wearing a corresponding tie", is what I heard John say in my head when I read your reply :P.
As I've been watching this show for a while, I've come to a conclusion. Everything wrong with the US comes from that general assumption: if you're poor, it's only your fault.
It pretty much is though. Excuding short term exceptions. The labor shortage in the construction industry alone is insane. Plenty of entry level positions open.
Legally speaking, the requirements are to be able to lift 50 lbs, pass a physical, and (if industrial construction) pass a respirator fit test. Realistically, though? You have to be able to lift 100+ lbs, able to keep your mouth shut about OSHA violations, willing to accept your employment contract being violated, tolerant of casual sexism and racism, politically conservative or quiet about your beliefs, and ignorant of your coworker's wages. Many construction jobs are barely over minimum wage, so you also have to be willing to destroy your body for entry-level cashier pay. I worked as an industrial electrician for ~3 years, and I made 17.50/hr. That sounds decent, but when you actually calculate the cost of living around my area, plus bottom-of-the-barrel-yet-ACA-compliant insurance, I was nearly in the red. I couldn't afford a new car or newish used car, couldn't afford upkeep on an old car, had to work out whether I could afford gas to get to work this week (because my old car was NOT fuel efficient) or if I needed to "borrow" from family that I couldn't pay back... It was a mess, but my parents let me live with them. I paid them rent and a single household bill, finished community college (which they mostly paid for), and finally had the qualifications for a better paying industrial job (I&E). Sure, I'm well off now, but I would still be in a hole if it wasn't for their financial assistance. If I was shameless, I guess I could claim I was a "self made man" since I did get an education that led directly to my current situation. But there's the matter of the "small loan" of 3 years of ridiculously cheap living expenses, plus the peace of mind of knowing that no matter what, I would have a roof over my head at the end of the day. And that was all without a spouse or children.
@@toomuchtimeonourhands2891 Untrue, Maxime Bernier was simply the more established right wing choice that year. O'Leary could win now. But he's too flighty.
@@vikakremer1688 Maxime Bernier wasn't the "right wing choice". He was a spoiled brat who threw a temper tantrum and started his own party after he lost the Conservative leadership race. And his "new party" folded after one election because even the hard right wing was like, "nope, he's too batshit crazy even for us."
Please do a piece on "the right to repair". This is a huge problem which affects all of us, around the globe. Yet the deeply technical community are the only ones aware and fighting a losing battle!
Some people growing up and living in reality would go a long way too. Our education system turns out children and let's them make adult decisions that have irrevocable consequences, oh look, all the broken stuff is government run propped up by people too dense to stop voting for more government.
No, there's Democrats trying very very hard to fix it. The problem is they don't have a big enough majority to do it without Republican support, and the Republican party is exactly the source of this problem in the first place. Hell, a significant amount of the senators who passed that 2005 bill are still in office. If you want it fixed, you need to vote those people out. There's good people in government, we just need more of them so they can overpower the shitty people in government.
I filed bankruptcy 5 years ago due to a 5 day stay in a psych ward costing me almost 10k. I'll never forget being asked to determine how likely I was to end up in that situation again. It was so hard not just just say "I dont know how likely that another attempt to kill myself will result in an expensive hospital stay".
life in Australia after a month in psych hospital for no charge whatsoever I was given a psych disability pension for life with free weekly counselling why can Australia afford and the US can't?
@@ThunderStruck15 we are seeing more outbreaks of zoonotic diseases however. The lack of conservation and safe resource extraction is slowly causing for more of these diseases to jump into intermediary species, and into us. Humans are entering environments in which we would have never entered 100 years ago. While yes, it’s a rough trend to say there are major pandemics every 100 years, there is substantial evidence that if we don’t change some of our practices the frequency of epidemics, and further pandemics is going to rise.
@@ThunderStruck15 Except the things that cause pandemics, like exploitation of natural habitats of the animals that carry these diseases, have increased exponentially over the past hundred years. We've had other major pandemics in the past 100 years. Just look at AIDS, that's a HUGE one, and started with a chimp. Avian flu, Zika, Swine flu, all in the 21st century. The fact that they didn't affect the US as much doesn't erase them.
@@z-beeblebrox its way more honest this way. If you are a grown adult laughing along with a laugh track then you are a moron. Not you beeble, in general.
It’s better, it’s like why The Office is funnier than because there’s no Laugh Track and great shows with laugh tracks like Seinfeld or Friends we classically more sitcom’y but dated because of it. Real studio audience with great senses of humor and laughter is great but canned audio audiences is not.
I realize a tiny detail that makes the void episodes different from the non-void episodes (aside from the void) In the regular episodes back then, the camera will always track John's head movement as he bops around when talking. In the void episodes, the camera is completely static.
America be like: "Here's a system we put in place to help you" People use said system in any way like it was intended America: "no wait you weren't suppose to actually use that, here lets make it harder for you to use that rather than work on what brought you to it"
"Oh, get a job? Just get a job? Well let me just strap on my job helmet, and squeeze down into a job cannon, and fire off into Job Land, where jobs grow on jobbies!" - Charlie Kelly.
John saying "Back May 2nd" so fast feels like he's trying to rip a band aid really quickly so that it doesn't hurt too much. I already miss him, though.
HOLY HOLY!!! I can proudly say that I have the two HOTTEST women on this planet as MY GIRLFRIENDS! I am the unprettiest UA-camr ever, but they love me for what's inside! Thanks for listening aur
It comes to mind to me the term "debt slavery" we used to have that here in Brazil and study about it in school. We do have a similar issue right now as well.
It does, but I've seen so many people live the bliss full life of "living paycheck to paycheck" in Norway. Bad economical sense and rampant loan is not just an American thing. I mean I was working as a grocery store clerk for 4 years I've seen so many clients and co workers complain about "being out of money" having to retract some items because they were out of money and had to wait for the next pay. My mom makes 125.7K a year and had 0 savings... At one time me and my other brother had to bail her out with 14k to escape "easy loans". Bad financial systems is all over the world it's far easier to get into debt then actually save, the temptations of "easy loans" is too far spread, last months I saw an add about "move all your debt to one place for easy control"... what they left out of the spoken ad was the fees and ridiculous interest rates of 34%. 6 years after bailing out my mom and becoming an adult we are finally looking into buying her a home, mind you last year she still had $0 saved and the only reason we are looking is because again me and my "other brother" are giving her 100k of our own savings. my "other brother" (aka my oldest brother) can't join because he has fallen into the same pit she did, quick and easy loans and marry into a rich family (so he has $0 net worth, but not in debt, but still the dignity not to ask his wife for money) It's not a flex or anything, it's more of a warning that easy loans are so common in every part of the world, even buying house NOW is kinda of a bad idea since I think the housing market is going to fall due to credit not being paid in the long run.
Before I watched this I had no idea the US had fallen so low. the impression they give to a foreigner is of a culture that had developed a system of feeding off like a bunch of crows to members of society that has fallen to their knees. Its a disgrace. Seems the country of freedom means freedom to behave in whatever shit way you please.
@@Iason29 What the hell are you talking about? He said 500,000 people go bankrupt in the USA. That is .15% of the entire population. Don't be so naive and gullible by American media. They make everything sound like it's a rampant problem the entire country is dealing with.
@@DoomFinger511 The US is ranked 22 in the world for median wealth per citizen, right behind Qatar and Taiwan. Median wealth has gone down by $65,000 per person in just 13 years. The median wealth per adult in the US is $65,900. If the US lost wealth at the same rate it did over the past two decades, the US would literally have the poorest citizens on the planet. This is the shitshow we're living with that's "not a big issue."
Bankruptcy is a legal process that individuals or businesses can undergo when they are unable to repay their debts. It provides a framework for financial relief and a fresh start. There are different types of bankruptcy, such as Chapter 7 and Chapter 13 in the United States, each with its own rules and implications. Bankruptcy can have long-term effects on one's credit and financial standing, so it's essential to carefully consider the decision and seek professional advice when facing overwhelming debt.
I believe that there are techniques that can be implemented for consistent returns regardless of the state of the economy or the market, but advisers or investment gurus with experience after the 2008 crisis often carry out such implementation.
The issue is most people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt, no offense. In general, invt-advisors are ideal reps for investing jobs, and at firsthand encounter, since Jan.2020, amidst covid outbreak, my portfolio has yielded nearly 300%, summing up to 7-figure as of today.
@@AbdoolLogodesign I need a guide so i can salvage my port-folio due to the massive dips and come up with better strategies. How can one reach this advisor?
I've shuffled through a few advisors in the past, but settled with 'Julie Anne Hoover' her service is exemplary and she's a genius in portfolio diversification. I'd suggest you research her further on your browser, sure you'll find her basic info.
@@AbdoolLogodesign Appreciate this recommendation, hopefully I can get some insight to where the economy is headed and strategies to beat inflation with when I hear back from Julie .
"People should never go bankrupt!" Tell that to the people who suffer some sort of medical emergency and end up having to pay Hundreds of thousands of dollars through something that is no fault of their own. Got to love American Healthcare.
I have cancer and I'm watching my account drain to nothing. Years of hard work down the drain. I guess cancer is my fault and I should have started a highly profitable corporation. 'Merica. Gotta love it.
Regular people should never go bankrupt, but is seems to be just fine for tRump to declare bankruptcy multiple times and his worshipers just don't care. I guess it's good to be rich (or a reasonable facsimile).
People SHOULD never go bankrupt. People SHOULDN'T end up having to pay hundreds of thousands of dollars in medical bills. Things are not as they should be.
Genuinely love this show for teaching me all about the things the education system never considered important enough to teach. So many things I'd hear about all the time, but never taught about in depth.
Best Datting Click 🔽 livegirls19. com 在整個人類歷史上，強者，富人和具有狡猾特質的人捕食部落，氏族，城鎮，城市和鄉村中的弱者，無`'守和貧窮成員。然而，人類的生存意願迫使那些被拒絕，被剝奪或摧毀的基本需求的人們找到了一種生活方式，並繼續將其DNA融入不斷發展的人類社會。 說到食物，不要以為那些被拒絕的人只吃垃圾。相反，他們學會了在被忽視的肉類和蔬菜中尋找營養。他們學會了清潔，切塊，調味和慢燉慢燉的野菜和肉類，在食品市場上被忽略的部分家用蔬菜和肉類，並且學會了使用芳香的木煙（如山核桃，山核桃和豆科灌木 來調味食物煮的時候 1618831118
James Blackwood and the sounds of 20 raccoons eating grapes with their noses up have helped me get to sleep or calm down at the end of the day many times. Love that channel.
The other day I saw someone demanding the next Fast & Furious movie be called 'Fast10 Your Seatbelts', and when they fail to do that, me not watching it doesn't seem like nearly enough of a statement of my disappointment to them. I mean, partly because I've only seen the first one and wasn't going to watch it anyway, but still.
Thank you for using that guy who feeds raccoons. He's a very kind old man who told his wife after she died that he would feed the raccoons for her and he has done so for around 15 years. He has a UA-cam channel and lives in Canada I believe.
I love the Raccoon Whisperer. He's such a lovely fellow that feeds all the critters. Watching him feed raccoons hotdogs and cookies is a great way to de stress after a long day
@@likira111 yeah I figured it was a reference to the fact that the Spanish flu happened about 100 years ago, but I wouldn't be surprised if there's more than one global pandemic this century.
Definitely. The next one will be much, much sooner than the next century. With so many people in this planet and international travel, it's unavoidable. I sure hope I'm wrong, but the odds are not in our favor.
I filed nearly 6 years ago...not because I'm lazy or a deadbeat but because I was drowning in medical debt. Immediately afterward I got dozens of credit card mailers for weeks and weeks...predators for sure.
When your discharged your credit oddly improves as your debt to credit ratio is really really low. That, and they know you won't pay so interest here we come!
@@alexejfrohlich5869 I can’t tell you how much I hate my country’s carelessness for its citizens ‘ health. Medical bankruptcy or being refused medical insurance because I had cancer is my nightmare. I wonder if we (Americans) will ever get the health care and security other wealthy countries have.
What’s even worse about student debt: when I had my student loans forgiven because I became disabled in Iraq from a mortar round, it counts as income. So I had to pay taxes on the “income” from loan forgiveness, and since I didn’t know, and didn’t declare it, the IRS fined me. So now I owe $15k in back taxes and fines on student loan forgiveness and I pay $250/mo of my tax free VA disability to an IRS repayment plan.
You can get the penalty waived if it's your first brush up with IRS....you can still do it If it's less than 3 years since you filed this return...It usually pays to hire a good tax person in these situations
@@usgatordid she mail a letter in requesting abatement of the penalty and you got a letter back from IRS denying abatement? I don’t know particulars of your situation, but IRS automatically waives penalty for 1st time offenders no questions asked… if she didn’t do this for you, then you may got hosed
I can't believe I've finally seen a clip before John showed it! The raccoon guy is named James Blackwood: the Raccoon Whisperer if anyone wanted to know! He's so precious!
Poor people: “I would like to exchange all of my current assets and capital for a second chance at avoiding predatory lending practices and unpredictable life events that may cause financial hardship.” Government: “I don’t know man sounds like you just want to mooch off other people.”
I had to file bankruptcy years ago because of medical bills. Years later I have no credit other than my car, but I am back in debt again because...medical bills.
@@calebrobinson6406 a family member of mine had to file bankruptcy due to medical bills. Had insurance 100 percent coverage but went to the wrong hospital which wasn’t covered. You literally have to know your network of doctors and hospitals. Cause if you go to the wrong one your fucked
As a European I know so many people with serious medical issues, I myself was in therapy for 2,5 years. Just thinking that these things could ruin your life financially is wild to me. It’s easy to take healthcare for granted. Last week tonight really puts things in perspective
I remember when my brother died in 2015 the debt collection company for his student loans and bills where relentless like a shark or someother predictor animal did not stop. We kept sending them copies of his death certificate over and over again. It took over a year before they finally got the point.
they should have a term for predatory collectors like that. like...a lending tiger. or a borrow cougar. those sound clunky though. maybe someone can think up a better name edit, 2 months later: horace: debt rat. It's not predatory, predators have dignity. Those are pure scavengers. J Braz: I'd tell them to come pry it out of my hands Alex Trebek: I'd like to thank everyone for playing, the answer was actually Loan Shark. Loan Shark, oh! and Sean Connery appears to have a live octopus on his podium. No, stop tha- (exhasperated sigh) Alex Trebek: unsuprisingly, Burt Renoylds has a 10 gallon hat in which the octopus is now residing. Turd Ferguson: ..........my name's Turd Ferguson.
"Bankruptcy is about financial death and financial rebirth. Bankruptcy is the great American story rewritten. We're a nation of debtors." -- Elizabeth Warren
I thought her original plan (long before pres run) to cautiously extend bankruptcy protections to student loans was fantastic. Still don't understand why she pivoted to total student loan forgiveness for all.
@@doom2avatar I assume because the situation has gotten so far out of hand that just extending bankruptcy protections isn't going to have the desired effects. People need that clean slate basically immediately with no strings attached.
@@doom2avatar I assume because student loan forgiveness is incredibly popular and presidential elections are (supposd to be be?) a popularity contest for ideas. I'm only assuming though. I didn't particularly care for Warren and I've never had student loan debt.
Followed by more depression when on May 2nd John reveals yet another part of America that is irrevocably fucking broken, and being kept that way because of the fucking GOP.
I can't sleep, and I watched this gem. I disagree with John on some things, but this episode is a gem. I appreciate him for releasing this information.
@Ptao Tom That was filmmaker Michael Moore. Not sure what point he was making, but I'm sure he was up to something that would antagonize the republicans.
Capitalism is an unstoppable beast, but it works. We told it "profits" and it just roared and got the job done. It stomped all over people in the process. If you take the framework for capitalism and replace "profits" with "human wellbeing" you'd have all the power of the strongest beast and you'd be directing in a way that never made sure the most expensive thing you could be is poor.
Search for the name of the show and the date you want, and you'll find that people have uploaded the entire show, including the funny bits at the beginning.
Not only do I have student loan debt from a degree I never got to use, but when my mental health took a dip, I have a large medical bill from my personal rock bottom. It feels like I’m drowning. The system has no pity for me.
Man do I relate to this. I was partway thru medical school when I had a mental health crisis and left without finishing, so I have the debt (~$100K) of a young doctor but no degree to show for it. The system may not care about you but I do
TNV ... Not alone. My student loan debt grew from $75k at 8.5% to $300k now in April of 2021. It grows $25.5k (or more) a year in interest. No way I can even make the minimums.
@@kathleenbrown5402 Yes, not only one with excessive SLD. I too had to drop out of school because my father died, but Bankruptcy takes no pity on student loan debts.
@@LadyCoyKoi There's some truth to what you say, but your oversimplification is a problem. Big elections are the culminations of many smaller political movements. As you said, your vote for a state senator or your president is a drop in the ocean. Those selected to vote on your behalf will take as much leash as their majority constituents allow them for their own gains. If you feel strongly about making a difference, what matters much more are your local elections. The smaller the election, the more of a difference you make. These differences are still palpable and useful! And they set precedents and advance political careers you approve of. Also, I assure you our country has been owned by the wealthy elite from its founding, not just after WW2. In fact, modern transparency has only revealed the ugly that has always been there.
Like most things, we have double-standards with bankruptcy in the US: When an individual does it, they're considered a dead-beat scumbag. When a company does it to skip out on debts while staying in business, it's considered a smart business move.
The fact that the sequel to Now You See Me wasn't named Now You Don't has bothered me for years, John.
I remember Dan Harmon had a big ol rant about it.
@@joshualane1716 came here to mention this
What a missed opportunity 😢
I feel the same way! ☹
The REAL missed opportunity is since they wanted to make a third, they could have done “Now 2 See Me” and “Now You 3 Me”
This show is genuinely one of the reasons why I look forward to Mondays.
Agreed b
I live in Italy and still love the show so much, I don't do nothing with the info but a bit of sorry for the americans who have it hard
Me too
Same
The only f’n reason. Off next week??? Damnit
Bankruptcy attorney here: Everything in this video is 100% accurate. The unholy push from attorneys to make money in Chapter 13's is real, takes advantage of the most vulnerable, and has a racial bias. If you walk into a Chapter 7 hearing room and then a Chapter 13 hearing room, like I have thousands of times, the racial divide is obvious.
Thank you for your input. Once again, the state of things across the pond are simultaneously infuriating and perplexing to me.
Hopefully this improves sooner rather than later. I'd like to visit the US one day :/
@@BigLord improvement? in the US? you’re hilarious.
@@freckledginger *sad laughter noises*
@@freckledginger Doesn't it hurt to think that?! We're supposed to be the greatest country on Earth (it's a blanket statement, not my statement). Tell me what makes us the greatest again? 🤔🙄
@@BigLord Wait for a miracle 😓
Somehow we managed to laugh our way through our credit counseling courses. We filled bankruptcy after I had a stroke at 22 due to an unknown genetic condition. I will be disabled for the rest of my life and the course kept talking to us like we were idiots with a shopping problem versus two people experiencing something life changing and traumatic just trying to keep from becoming homeless. It was pretty demeaning.
It's bcs it's thought of as something for people who can afford going bankrupt. like everything else in the US nowdays. If you have money nothing is ever an issue. If you don't have money everything becomes an issue. And the states punish people who don't have a lot of money. Often by making them pay even more.
People are met by this word expectation that you haven't paid just bcs you don't feel like it. You have the money sitting in an account, but you just don't want to pay it.
And you are punished thereafter. There aren't this common sense understanding that many people simply CAN'T pay.. that you actually don't have the money.
Ah my favourite weekly depression session.
Tuned in early tonight, this should help me sleep well
Yup.here we go.
Ah, the same comment you see on every one of his videos. Get a new thing.
🤣🤣😂😂😃😃😊😊🙂🙂🤔🤔😣😣😳😳☹️☹️😭😭
I started watching this after a sobbing session myself
"When things are designed to become harder for everyone, for the rich they just become a bit more expensive, and for the poor they become basically impossible".
The most important quote in my humble opinion.
thats the gap, the closest it was, when he had all those baby boomers people, had jobs, people had money, people were happy, now those people are retiring and everyone is being stingy on hiring and pASSING down knowledge, remember when concrete used to be the best, then suddenly that recipe was lost and we have to use this downgraded trash, soon to expire concrete that even a sandstorm of 5 days could erode. The rich keep getting richer, because they are all part of the same community, destroy their community and they lose all of their shit, mind body and soul however will never happen because it could happen.
Exactly. That’s why we love Biden’s stimulus. We don’t care about inflation, I already have money. That’s why I am a Democrat, they keep my money safe. Print that money baby! While the poor and middle class tread water to survive off the stimulus, us rich, we just add that stimulus money into an artificial market. Due to all the QE, the poor and middle class are losing their purchasing power, while us rich were just added steroids with the QE. This sucks for poor people, but for me, Biden keep printing that money! I am baffled why my rich friends voted for Trump. As a Chicagoan, the Democratics always take care of your pocketbooks. And you are telling me they are just printing money?? 😌
@@mattheweraci5502 you aren't very good at pretending.
Then redesign this to benifit the ones who work the hardest....(i.e. Darwin's Natural Selection...O.G. edition!!!!!!)
I graduated in 2009 and worked many jobs for years to stay ahead of it. Instead of trying to enter my field after tons of failed interviews, I took entry level work. Ironically my student debt shaped my future more than my degree.
Wow, that should be on a tshirt. It goes without saying, of course, but it shouldn't be that way.
I just graduated from my master's degree and the pressure is on me to get a job and they raised the idea that if I can't get an entry level position in my field, I should just go to Walmart or something. You know how demoalizing it is just entertaining that option.
@Umbrella Corporation Why do a$$holes assume that people who have student debt don't know that? It's not like we have a time machine to go back and change the past!
@@lyreparadox the sick thing about it is that if you went to Walmart over college, then you'd have people telling you that you're wasting your life.... 🤪🙄
@Umbrella Corporation I'd say, at the start of my career, my degree felt pretty worthless. But as I built up more job skills and experience, it helped me secure better paying jobs as part of the qualifying process.
But the debt burden is simply not worth it. Even though I'm fortunate for it to not affect me as badly anymore, starting my young adult life with the debt was flat-out hell.
I swear this show has done a million times more to keep me out of America than any wall ever could.
I live in America and this is one of the best comments I have seen on UA-cam, right on.
LOL totally believable and understandable.
@@timloescher2728 Agree
I live in America but I totally agree. This place sucks!
@@jkpepedaefrogy its better than like 80% of the world bruh don't shit on america that bad
11 minutes ago?! I almost forgot I needed to be depressed, anxious, and well informed before bed. Thanks, John!
Stay positive, just not too much
#TRUMP2024
@@super8mmo L O L
And here in Europe I need to be depressed, anxious and well informed for you guys for breakfast.
9 am, perfekt time to get depressed in home office!
The amount of solid jokes that John blows through nonchalantly is pleasing
@An Capall Mór qqqqaq
@An Capall Mór Thanks An
If only they were funny.
It’s scripted
As compared to late night hosts that sit on their joke after finishing the punchline, even when we don't have audiences right now lol I appreciate the "if you heard it, you heard it" approach
chapter 11 bankruptcy is the ideal get out of jail free card for big corporations, meanwhile chapter 7 bankruptcy is meant to leave a permanent scar on an individual in trade for getting their foot off your neck.
It’s not permanent, everything eventually falls off your record, bankruptcy can be wiped from your record in 7 years I believe
@@ryanwallace983 But thats 7 yrs of hell trying to rebuild your credit, meanwhile businesses can either liquidate their equity and reinvest it back into their company with no consequences or get new loans and go right back into major debt. Those options would never be available for avg joe
@@madgreek253 I agree it’s hard, I don’t know who will give me student loans when I ask in the fall
I co-signed a loan for a friend and got burned, I haven’t declared bankruptcy but that loan will follow me until it’s paid off completely, one way or another
It’s already tanked my score from 700plus to under 600
So I get the struggle, I’m lucky, I have a girlfriend who makes enough money to support me and her at the same time and put money aside, that not something most can claim
But the fact remains that it’s not permanent, avoid debt like the plague and live exceedingly lean and you might make it thru
@@madgreek253 and companies have similar options to personal bankruptcy, complete liquidation or reorganization of debts, it’s not so different, the only difference is that if a company folds, the debt is tied to the company, not an individual (ideally) so a person can start over
@@ryanwallace983 you can sue your cosigner
My 4 year old cousin was in the hospital for one month battling leukemia before he passed away. Just one month of bills forced my Aunt and Uncle into bankruptcy.
I’m so sorry to hear that :(
My Aunt & Uncle owned the only lumber yard , the only furniture store & the only real estate company in their town + they owned their home & 2 cars outright. My Uncle got Cancer and died a long slow painful death ... Because of the Medical Bills my Aunt had to sell off all the businesses, both cars, take out a mortgage loan on the house and go to work for the people she sold the real estate company to as an agent . All that just to keep her husband alive just a little bit longer .
@@shydreamguyman4098 That's really fucking sad.
@@shydreamguyman4098 That is why instead of discussing making bankruptcy better we should be looking to fix the medical system. Its just ridiculous what they charge in medical bills and how little insurance is willing to cover.
@@minoxknoctis5851 how about both?? People also can go bankrupt for other reasons than the bad medical system. Its often but not always the reason
I filed for 13. Came back with the same amount of monthly payments I still couldn't make and the lawyer walked with the money I needed to make those payments.
Lawyers and accountants have lobbied for just that. Good luck. Positive vibes from New Hampshire and remember to be kind to each other and yourself during this pandemic and social crisis
That's the equivalent of "Just pay them off 4Head"
then why bother?
How did you survive that? Please tell us more.. I'm very scared right now
@Luís Andrade Do you have to pay people to be your friend?
The awful things about students loans is that most students need a co-signer which is usually a parent, so even if the student dies, the loans don’t go away. They just get stuck with the co-signer. There really is no getting away from them
That’s fucking brutal
You only need a co-signer if you’re getting loans that are not federal loans. If you only receive federal student loans (not PLUS loans) you have no co-signer and a cap on what you can borrow based on your year in school.
My dad and I focused on getting those private loans paid off first for that reason. Now I’m stuck paying the 30k plus federal loan but thank goodness my dad is off the hook. Mind you, been trying to pay this for like 12 years. Ugh. Barely paying the fuckin interest
Stop taking out loans then. What is wrong with you that you believe you can borrow money for a better future and then when that doesn’t work out the person who loaned it to you was a bad guy
Another fun fact: being a young adult who needs a co-signer on loans also completely screws you over at every turn when your parents have filed for bankruptcy. I lucked out by getting into a school with comprehensive financial aid, but if I hadn't done that, I wouldn't have been able to go to college _at all._ Then after graduation, I couldn't buy a car or rent an apartment because I had no credit history and still no one to co-sign for me. Things are better now because I've also had good luck with my job, but it's a different story for my brother and many of the people I graduated high school with. The world is just built to keep the rich rich and the poor poor.
john definitely adapted from studio audience to none better than any other show like this
he said it’s from the fact that he’s used to performing for empty rooms, back when he was doing standup in the uk
@@chloepeifly I personally feel it might also be something that has to do with him being British, even with a live public there was almost always a moment in which he made fun of himself (and at times the jokes he made about himself were harsh).
Sometimes the audience laughter just slows him down.
I think Colbert has beautifully adapted too. Can’t say the same about the Daily Show though, way too saturated with edits
He’s liberal so he goes with the flow - instead of being a wittle baby afwaid of anything new omg so scary what will happen to me me meeeee. I made it political.
I actually had to go bankrupt once, and the stigma around it is so insane my dad said he "didn't know who taught you that was an OK option" meaning he taught me better than that. It took a lot of restraint not to answer "i got the number from _your_ bankruptcy papers, from the time _you_ filed for bankruptcy"
Lol, no! I'm not laughing at your misfortune, sorry you had to go through that but your Dad is a piece of work. Talk about pot, kettle, black.
I don't have that restraint. Good for you.
My thinking is on bankruptcy is, "You guys were dumb enough to lend me this money so this shouldn't surprise you if you'd done your homework."
Debtor's prison doesn't exist anymore, so just tell creditors to piss off and block their number. Your credit rating will reset over time.
I’m just now starting to file and my family will disown me. Full stop.
@@CrashBandiscoot crazy. I am happy to live not in America.
Not being able to afford bankruptcy is somehow the most Ameican thing I've ever heard.
How about, being told you don't make enough money to qualify for bankruptcy?
In Czech Republic it's pretty normal. We have only equivalent of chapter 13. And for filling for bankruptcy you need to be able to pay third of your debts in something like three years.
I thought having mass shootings every three days was the most American thing ever?
Yes.
Too poor to be poor, that's... Insane. This is why people are being radicalized into socialism and even *gasp* communism, because Capitalism has become the very thing it swore to destroy (communism USSR dictatorship) the starvation, the homeless, the poor people of the capitalist propaganda that was sold during the height of the red scare/cold war. I'm ashamed to be an American, it's what really radicalized me, I want to make my country something to be proud of.
My mom has filed for bankruptcy twice. Once because of Dad's medical debt from the last few years of his life. Once because of her own medical debt for spending 4 days in the hospital without insurance.
Because
That's heartbreaking!
Suze Orman thinks your mom is a bad person.
"wOw sO rEcKLLeSs" seriously, fuck the us
America!!!!! Land which fucks the poor and middle class and defends the rich!!
Hey HBO, please release the 7 minute fun piece with the bunnies!!! we really need it for this week!!
Yeah, why do they cut it out for UA-cam? They do their money here.
@Fiqih Wanita Can you stop putting your video in every fucking comment.
@@lassmalgehen 86% of HBO's revenue comes from subscriptions to their premium cable channels. Nobody is making much from posting these on UA-cam, it's borderline charity.
@@diegorincon4673 click: Report > Spam
#releaseTheBunnies
This hit home for me on multiple levels. My Mom had to declare bankruptcy in the 1990s not long after I graduated high school, and I nearly had a nervous breakdown at work over the thought of it because, in my brain, it meant her life was ruined (thankfully, my manager at the time had been in the same boat many years ago and reassured me that things weren't as bleak as I imagined). And then there was the time 20 years ago when I lost my job and I got one of those "instant loan" checks (y'know, the ones with batshit-crazy interest rates) in the mail the very same day, and my Dad had to talk me out of cashing it. I imagine the way I felt holding that check was the same way newly-bankrupt people feel when the credit card offers roll in: desperately confused.
I sincerely hope you are doing better today.
Bankruptcy is fictional. You Mom was abused and/or tortured into behavior lied about with that/other fiction?
That comment about a judge recommending some one get a job with higher wages reminds me of the time a doctor recommended me to get a job with health insurance
What the actual fuck...
Some people got the qhoosh on autopilot
well, you could always do some crime and go to prison.
If you're really sick, they are forced to give your medical treatment. ;)
(but they aren't forced to give you good medical treatment though...)
@@Robbedem I was going to make a joke about having cancer so bad that you have cancerous lung-tissue growing out of your eyeballs and a prison doctor just giving you a used, off-brand Band-Aid for it; then I realized, that is probably something that has actually happened here.
Hah! My doctor told me I was getting old and to quit my good paying, with benefits, job. I retired from the job. A**H***! I did file bankruptcy, once. Child support put me in that position. (I'm a woman and that's another story}. Since then, no credit cards. If I don't have the cash for it, I do not buy it. I'm not the worse for wear for it, I have everything I need. It's been 20 + years now
John's joke about millenials being unimpressed with $80,000 in student loans was so real it hurt that is legitimately what my first thought was.
Yeah well when Government hands out money to schools, they jack up the tuition and build new stadiums.
I was thinking the same thing.
It still better than countries who do not offer bankruptcy protection.
Again, colleges fucked you over, they saw government money and raised tuition fees, wanna know where the money goes; look at that beautiful new campus.
@@carlosrivas1629 Colleges have had their budgets slashed for decades. The money you think they have been getting from States and the Federal Govt (through the State) has disappeared. THIS is why Colleges have raised tuition. They aren't getting the money they used to from the Govt. Your answer is actually backwards. Thanks for trying though.
"I DECLARE BANKRUPTCY!"
"Michael, you can't just say the word 'bankruptcy' and expect anything to happen."
"I didn't 'say it' I declared it."
Michael: "Why are you the way that you are."
Yeah I very much expected them to put this somewhere in here
Michael would definitely pick article 13, keep his stuff, and pay off the debt without defaulting, through guidance by Dwight.
imagine if caleb crawdad said that ....
April 2020 "I know its weird having this void background but due to the Covid-19 pandemic we have been forced to move out of our studio"
April 2021 "hey get the fuck out of my void. It belongs to me"
I wish you could do a Canadian bankruptcy version of this episode.
Same.
It seems like for every problem, the lawmakers ask themselves-'How can we make it worse?'
I think it's more like, "How can I personally profit from this person's misery?", which ends up actually making it worse. It could be total coincidence that all our lawmakers leave office multi-millionaires. Total coincidence...
@@AMortalDefiant it's almost like corporate runs America
"How can we make it worse for black people?" :v
@@thegrayyernaut by first making it worse for everyone, then giving us the bare minimum beyond that.
@@MajorMlgNoob not like..but corp does run America. We are the slaves
"The only way to get away from your student loan debt is to die."
Well they can't do that either because they can't afford a coffin.
The muddy earth is my coffin.
Yep, fuck coffins. Ain’t gonna charge my family for me death.
I'm sure the laws make it so your student loans must get paid before you can spend a dime on final arrangements. Of course your living heirs will get offers to finance your funeral expenses with an installment loan that only charges 26.99% over prime.
Just toss my corpse into the ocean.
Don't know if you're serious but there's a mortician UA-camr who talks about the different ways you can dispose of your body as well as laws and things you have to sign. Ask A Mortician.
Ahh, the "why don't you get a job that pays more" advice, my favorite. Don't they know I love living my life not being able to afford anything? It's so exciting; I do it for the thrill really.
even better, the jobs that can pay you more are always out of reach because they're always looking for someone either more qualified or someone who's not overqualified, so the jobs you can get are the ones that just barely keep you alive
I know. Not to mention the cost and risk of switching jobs is enormous. Long story short, in 2003 I took a summer job that promised 40 hours a week, would pay $0.50 over minimum wage, and was close to home. But not only did they not even schedule me for 40 hours a week, any time business got slow they sent me home early because I had the least seniority. I quit after a month and went back to my previous summer employer that did give me 40 hours a week, but that month of reduced hours cost me in the neighborhood of $500 dollars.
Fortunately I was a teenager living at home so no threat to my finances, but to someone trying to make ends meet on low wage work, that can be devastating.
or real! 😁😂🤣
“What’s that? You want us to pay you a more livable wage? Nah! Come back to us when you worked for us for 20+ years of excruciating labor, then maybe we will think about it.”
Why didn’t you? You chose the field you went into. You chose to spend the income you had- you chose to not have adequate savings and investments for an emergency.
After almost facing bankruptcy a few years ago, I’ve managed a 57% gain, reaching $82K in three months with stocks and penny trades. Now, I’m torn between stepping back due to stress or continuing with what’s working. I'd appreciate any advice on scaling down, diversifying, or other strategies.
After experiencing bankruptcy, I found that diversifying investments helped me recover. This approach balanced risk and brought stability without relying on single trades.
Working with an adviser helped me recover from bankruptcy by diversifying my investments. This balanced my risk, added stability, and provided a steady path for growth, reducing financial stress along the way.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. Do you have any?
My CFA Julianne Iwersen Niemann, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for sharing, I must say, Julianne appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive.
My skin crawls when I see rich people/companies that tanked the economy telling poor people that *they're* the ones irresponsible with their money.
I get more of a righteous burning rage
@ k
@ Keep listening to boot licking Shapiro brought to you by the Wilks brothers, they also find PragerU.
Gaslighting at its finest.
@Helen Pauls Exactly.
John-O is one of the GOAT’s. The world would be a better place if everyone listened to him once a week.
He’s barely scratching the ice... the crapitalist iceberg goes deep, very deep.
I like the way John decided to wear the same colour tie as his patronising cartoon equivalent.
Don’t let this distract you from the fact that woman don’t exist according to the patronizing cartoon equivalent
I still wonder every episode if he’s wearing sweatpants with the tie and jacket.
As long as lobbying is legal, John will always have content. Imagine if legislation was passed based on what’s best for the people instead of who paid to have it pushed.
Welcome to the Plutocracy
If that happened, America might spontaneously turn into Finland or Switzerland, where political accountability runs hand-in-hand with citizens demanding a higher standard of governance.
Like literally all the other democracies in the world! Imagine!
In fact as long Filibuster exists, no need to worry of running out of bullshit
@@Smarterthandumber well not ALL democracies. North Korea is technically a democracy.
Being a student, we always joke about getting hit by a city bus or school shuttle and the school paying for a bit of our student loans. I'm pretty sure that's not true, but like... a guy can dream.
Every time I crossed the road in high school, we'd make that joke
Haha, I know a dentist who paid off her student loans, bought her parents a house and a BMW for herself, after being hit by a city bus her last year in dental school.
Same when I was a student
"If a car wants to hit me then it better finish the job or wait for next month" is the point I'm at rn because god knows college would make me do exams if I was hospitalized for a car collision lol
This comes from the same urban legend rumor mill of the "if your roommate dies, you get straight A's."
Did anyone else practically cheer when he mentioned the missed opportunity for the "Now You See Me" sequel name?
Dang. Can't get rid of trolls at all. I've reported the F*ck me troll over 100 times and it still shows up. Anyway, I had a good laugh over the "Now You See Me" thing.
@@sophierobinson2738 I've noticed that spam accounts have gotten out of control recently. I've seen them in about half my recent comment reply notifications
z beeblebrox Too busy demonetizing channels that say one wrong word.
If thats your takeaway from this 21 minute video, I am at a loss for words.
@@cthulhupthagn5771 How dare they enjoy one of the jokes!
Having to go bankrupt because your child dies of a lethal disease. *Freedom music starts playing*
America, fuck yeah! Here to save the motherfucking day, yeah! /S
Bankruptcy from the national disgrace called AMERICIA HEALTHCARE!
@@RainbowFrogger I think you took the wrong lesson from that story. What she should have done is stayed single, got a finance job and spun money around in the "value turbine" and made a billion dollars for her boss instead.
'merica!!! F*ck Yea!!!! This is 100% what I would expect from Bo Jiden. Those poor rich people..... You don't know how hard they have it.
@@RainbowFrogger I know you were being sardonic in relating the Conservative perspective which is the equivalent of them playing the world's tiniest violin for people with sob stories and preaching AT them about self-reliance...while of course applauding business and corporations that enjoy exploiting bankruptcy laws which use taxpayer subsidies to buoy their profits for which they duck paying taxes on.
Corporations and the upper class have squeezed the lower class almost to death. Trapping you in debt forever turns you into passive income for them. Student loans getting away with being predatory and colleges being so outrageously expensive is trash. This level of greed is criminal
No actually, the system has been twisted to where the whole point is that it's not criminal
What a sight it would be if US citizens left in droves post-highschool as protest to the current debt-fueled education 'industry' in favor of the EU for a practically free secondary education...
Not so sure people over here want so many of us though 😄
This comment needs more likes
ah yes but most people still find reason to hope that they can escape poverty and that idea makes others richer
Slaves cant have debts. Did someone tell you they do? Tell you them do when theyre acting like theyre something from fiction and/or tortured into appearing to possible be?
This is the only place I can think of where you can be entertained and enraged in less than 30mins
and informed!
Hallelujah
Every time he says “That’s our show thank you for watching we’re off next week back “ I get a serious deep sigh.
Exactly my 1st thought 👍
Maybe say spoiler alert next time now I have to sigh instead of enjoying the video :(
When I couldn't afford to file I just stopped paying on my debts and never answered the door so as to avoid being served and after five years my debt was cancelled by statute. Winning!
When I got married to a Canadian, I discovered my credit history had not traveled with me to Canada. Clean slate! For awhile, student loan creditors were calling me to threaten lawsuits but since it would cost more than my loans value to pursue, that's not gonna happen.
Another reason to go to Canada? Sign me up.
A quick change of phone number should help stop that.
In mother Russia debt runs from you
But you had to give up living in the greatest nation on earth 🙄
Instead you have to live in this shabby Canada and can’t even go down to the local Walmart and buy an AR15
@@craigiefconcert6493 And people say one cannot write sarcasm. Well done!
Thank you for this clip. As someone who has filed for chapter 7 bankruptcy, it highlighted the shame and stigma that goes along with it.
That lawyer was being completely literal. It's much easier to resolve bankruptcy when you can sue the company that annihilated your husband with a delivery van.
Assuming you have the money to take a massive company to court... Which if you are filing bankruptcy you certainly don't. And a criminal case vs the driver wouldn't do anything either. And if they are driving that van they most likely are about as poor as you are and suing the driver again... doesn't do anything.
It's a very expensive situation, getting justice from a large company in civil court.
watch John Oliver long enough and you'll realize that virtually every problem we have boils down to uncontrollable human greed, which is SO entrenched and deeply corrupted in our government, that nothing will ever be done about it until it's probably too late... this show is depressing af yo
😔
Aka...capitalism...but he can’t say that part
@John Hernandez this is an argument for better government. government must exist to uphold the greater public good; by force if necessary. taxes build roads. taxes could be used to build a better society, too. unfortunately our government exists purely as an egotistical expression of the individual rather than an ideal institution which is above such petty concerns... and so here we are...
Has always been, man. Has always been.
"See, that was your problem, you got to stop having children with expensive and deadly medical conditions. That kind of reckless behaviour will lead you to debt."
"See, the problem is that you are trying to maintain yourself alive. That kind of reckless behaviour will lead you to debt"
@@lenon3579ify There was a lady I talked to once who had a life threatening illness that required maintenance to keep her alive.
It was that mix of 'not immediately life threatening for a short period of time' enough that the ER is forced to help you and 'survival is too expensive for you to afford' that just straight up murders the poor in America. Like how diabetics need insulin.
So what she did was she was taking out student loans so that she could get enough money to afford her medical treatment and just... Go to school aimlessly.
She had no intention of paying it back, and the moment the student loan people stopped paying her, she would die from this medical thing. She was getting food and housing by volunteering for what amounted to a communist organization. She planned to fight capitalism until it inevitably killed her. What else was she supposed to do?
And this communist organization doesn't have wages. They feed her and house her and clothe her in exchange for her labor. She doesn't own any property. The only personal property she really has are her clothes, toothbrush, and phone. So how are the loan sharks going to garnish a wage she simply doesn't have?
The only problem is that the communist organization is too poor to afford any kind of non-volunteer/non-pro-bono medical and legal help.
She was extremely educated, intelligent, and was an excellent organizer and leader for this communist organization. If medical and school debt weren't things, she probably would be a contributing worker bee for capitalism.
It's bizarre to me that capitalists push people into corners like that. They could have their cake and eat it too if they just made sure that people could survive in some minimal level of comfort.
They could steal all the wealth of the world and be filthy rich with everything they could ever want if they kept workers minimally happy. Instead, a large chunk of Gen Z is communist, and older generations are starting to be openly critical of capitalism.
At this rate, it will crumble before Gen Z has grandkids.
And then they're shocked when the birth rate plummets.
@@aldenheterodyne2833 Nice story, but that's not how student loans work. It is also not how healthcare costs work in the US. You also clearly do not understand what communism is.
Alden Heterodyne was it a communist or socialist group?
I´m from Germany and I first thought the topic is "bank robbery" and at the end of the video, I´m pretty sure, bank robbery could be an easier solution
Wäre es auch vermutlich, sogar ein wenig lukrativer.
True that, and your content opens up an interesting concept: "bank robbery" is when people rob a bank and "bankruptcy" is when a bank robs the people!
Is Chapter 7 similar to German "Privatinsolvenz"? Five years you can only keep the part of the wage you need for living and after that period you are "free" again. I guess they reduced it to three years meanwhile.
😂😂😂
From a distance
John even dressed like the lawyer in the video. This show never misses a beat
"I am not a lawyer, I just have the face of one, and, by weird coincidence, I'm also wearing a corresponding tie", is what I heard John say in my head when I read your reply :P.
As opposed to when he doesn’t? He wears a suit every show....
As I've been watching this show for a while, I've come to a conclusion. Everything wrong with the US comes from that general assumption: if you're poor, it's only your fault.
Capatilism Fuck yeah! (yes i am being sarcastic)
It pretty much is though. Excuding short term exceptions. The labor shortage in the construction industry alone is insane. Plenty of entry level positions open.
@@NuttyElf interesting. And what is the qualification level (ie how much does the training cost?) and what are the wages for these positions?
Legally speaking, the requirements are to be able to lift 50 lbs, pass a physical, and (if industrial construction) pass a respirator fit test.
Realistically, though? You have to be able to lift 100+ lbs, able to keep your mouth shut about OSHA violations, willing to accept your employment contract being violated, tolerant of casual sexism and racism, politically conservative or quiet about your beliefs, and ignorant of your coworker's wages. Many construction jobs are barely over minimum wage, so you also have to be willing to destroy your body for entry-level cashier pay.
I worked as an industrial electrician for ~3 years, and I made 17.50/hr. That sounds decent, but when you actually calculate the cost of living around my area, plus bottom-of-the-barrel-yet-ACA-compliant insurance, I was nearly in the red. I couldn't afford a new car or newish used car, couldn't afford upkeep on an old car, had to work out whether I could afford gas to get to work this week (because my old car was NOT fuel efficient) or if I needed to "borrow" from family that I couldn't pay back... It was a mess, but my parents let me live with them. I paid them rent and a single household bill, finished community college (which they mostly paid for), and finally had the qualifications for a better paying industrial job (I&E).
Sure, I'm well off now, but I would still be in a hole if it wasn't for their financial assistance.
If I was shameless, I guess I could claim I was a "self made man" since I did get an education that led directly to my current situation. But there's the matter of the "small loan" of 3 years of ridiculously cheap living expenses, plus the peace of mind of knowing that no matter what, I would have a roof over my head at the end of the day.
And that was all without a spouse or children.
@@gapkillercool thank you for this very detailed overview of work in this field. It shows that being poor by no means equals to being unemployed.
The shark calling out Kevin O'Leary for his bad message about bankruptcy made me smile. He knows better.
Robert Herjavec. He's a gem.
O'Leary tried to become Prime Minister of Canada a few years ago. Even the hard core right wingers didn't want anything to do with him.
@@toomuchtimeonourhands2891 Untrue, Maxime Bernier was simply the more established right wing choice that year. O'Leary could win now. But he's too flighty.
@@vikakremer1688 Maxime Bernier wasn't the "right wing choice". He was a spoiled brat who threw a temper tantrum and started his own party after he lost the Conservative leadership race. And his "new party" folded after one election because even the hard right wing was like, "nope, he's too batshit crazy even for us."
@@gailcbull And now he's traveling around speaking at anti-lockdown protests -.-.....
Please do a piece on "the right to repair". This is a huge problem which affects all of us, around the globe. Yet the deeply technical community are the only ones aware and fighting a losing battle!
+++
Your audio is so on point. Not too loud and not too low. Editor deserves a raise!
I think the most frustrating thing about all of this shit is how easily it can be fixed. But none of the folks in charge want to fix it.
Those who are in charge aren't payed to fix it. Unless you got bookoo bucks in the US, you don't matter.
So true gentlemen so very true
Some people growing up and living in reality would go a long way too. Our education system turns out children and let's them make adult decisions that have irrevocable consequences, oh look, all the broken stuff is government run propped up by people too dense to stop voting for more government.
What do they care. They are rich.
No, there's Democrats trying very very hard to fix it. The problem is they don't have a big enough majority to do it without Republican support, and the Republican party is exactly the source of this problem in the first place.
Hell, a significant amount of the senators who passed that 2005 bill are still in office.
If you want it fixed, you need to vote those people out. There's good people in government, we just need more of them so they can overpower the shitty people in government.
I filed bankruptcy 5 years ago due to a 5 day stay in a psych ward costing me almost 10k. I'll never forget being asked to determine how likely I was to end up in that situation again. It was so hard not just just say "I dont know how likely that another attempt to kill myself will result in an expensive hospital stay".
Thats cold
life in Australia
after a month in psych hospital for no charge whatsoever I was given a psych disability pension for life with free weekly counselling
why can Australia afford and the US can't?
@@anthonykenny1320 taxes, and better distribution of taxpayer money
I'm in a similar situation!
Shows my state of mind that when he called Covid “a once in a century pandemic,” my first thought was, “Little early to be making that claim.”
Actually, that’s pretty accurate. Every 100 years or so we get a major pandemic like that.
@@ThunderStruck15 I understand that. That’s why I used the phrase “shows my state of mind” indicating that I am seeing unlikely worst case scenarios.
@@ThunderStruck15 we are seeing more outbreaks of zoonotic diseases however. The lack of conservation and safe resource extraction is slowly causing for more of these diseases to jump into intermediary species, and into us. Humans are entering environments in which we would have never entered 100 years ago. While yes, it’s a rough trend to say there are major pandemics every 100 years, there is substantial evidence that if we don’t change some of our practices the frequency of epidemics, and further pandemics is going to rise.
Especially after they did the episode called "the Next Pandemic."
@@ThunderStruck15 Except the things that cause pandemics, like exploitation of natural habitats of the animals that carry these diseases, have increased exponentially over the past hundred years. We've had other major pandemics in the past 100 years. Just look at AIDS, that's a HUGE one, and started with a chimp. Avian flu, Zika, Swine flu, all in the 21st century. The fact that they didn't affect the US as much doesn't erase them.
I always love John Oliver's segments. They are so informative.
I enjoy the absent sound of claps and cheers everytime he makes a joke.
It almost feels more appropriate this way. Like gallows humor. Funny, but in a silent, dreadful way
yes, that and the background void show a lot sensitivity considering these times.
@@z-beeblebrox its way more honest this way. If you are a grown adult laughing along with a laugh track then you are a moron. Not you beeble, in general.
It’s better, it’s like why The Office is funnier than because there’s no Laugh Track and great shows with laugh tracks like Seinfeld or Friends we classically more sitcom’y but dated because of it. Real studio audience with great senses of humor and laughter is great but canned audio audiences is not.
What Real Time need to do...
I realize a tiny detail that makes the void episodes different from the non-void episodes (aside from the void)
In the regular episodes back then, the camera will always track John's head movement as he bops around when talking.
In the void episodes, the camera is completely static.
describing johns movement as “bopping around” is so good
The moment you realize John Oliver’s choices of suit and tie were solely driven by his desire to look like the cartoon lawyer at 14:30
I was hoping he was going to button up to match!
Even funnier though is the fact that *all* he had to do was choose the right colors of shirt and tie 😂
10:27 "Inside: Fire is hot, water is wet, Quibi was a bad idea, Tom Cruise is an alien in a human skinsuit"
You left out Zucc being an android
"One of these things is not like the others. One of these things is false"
@@LoganHunter82 Yeah it's that water is wet.
@@darrienjones8917 😉
Just John Oliver casually reminding us that he is also a phenomenal actor, and would absolutely rock a serious role
No.
I mean, he played his character well in community
@@samusaran3798 OK, random cat avatar person. I'd like to see YOUR sizzle reel
@@samusaran3798 j ju j :.’thh huh h
America be like: "Here's a system we put in place to help you"
People use said system in any way like it was intended
America: "no wait you weren't suppose to actually use that, here lets make it harder for you to use that rather than work on what brought you to it"
"Oh, get a job? Just get a job? Well let me just strap on my job helmet, and squeeze down into a job cannon, and fire off into Job Land, where jobs grow on jobbies!" - Charlie Kelly.
@bilij pdan perhaps they'd done that to him before, and he didn't want it to happen to him again.
You need at least 3 jobs.
@@Odbarc I have 2. If I can get paid doing my hobby (drawing) that could count as 3.
@@Odbarc Democrats won so by 2024 you will need 5 (and possibly have none)
@@TheBayzent that is some intense bias
John saying "Back May 2nd" so fast feels like he's trying to rip a band aid really quickly so that it doesn't hurt too much. I already miss him, though.
HOLY HOLY!!! I can proudly say that I have the two HOTTEST women on this planet as MY GIRLFRIENDS! I am the unprettiest UA-camr ever, but they love me for what's inside! Thanks for listening aur
@@AxxLAfrikuwat
@@AxxLAfriku u wot mate
@@AxxLAfriku I mean good for you but what are you on about
Axxl is a bot dont mind it
the raccoon man yelling “yes!” with each hot dog is what sets that clip over the top. I love it.
His channel is James Blackwood - raccoon whisperer.
20:42 Multiple.
It comes to mind to me the term "debt slavery" we used to have that here in Brazil and study about it in school. We do have a similar issue right now as well.
I wanna greet everyone like John and say "moving on" instead of "hello".
I just wanted to say that your (and others) comment got copied by a bunch of bots and repasted here multiple times lol
??
He usually says, "Welcome, welcome, welcome~!" at the start. This is the latter portion of the episode.
So... that's how you should greet people.
"I can't afford to go bankrupt" is one of those phrases that describes the united states so well.
It does, but I've seen so many people live the bliss full life of "living paycheck to paycheck" in Norway.
Bad economical sense and rampant loan is not just an American thing.
I mean I was working as a grocery store clerk for 4 years I've seen so many clients and co workers complain about "being out of money" having to retract some items because they were out of money and had to wait for the next pay.
My mom makes 125.7K a year and had 0 savings...
At one time me and my other brother had to bail her out with 14k to escape "easy loans".
Bad financial systems is all over the world it's far easier to get into debt then actually save, the temptations of "easy loans" is too far spread, last months I saw an add about "move all your debt to one place for easy control"... what they left out of the spoken ad was the fees and ridiculous interest rates of 34%.
6 years after bailing out my mom and becoming an adult we are finally looking into buying her a home, mind you last year she still had $0 saved and the only reason we are looking is because again me and my "other brother" are giving her 100k of our own savings.
my "other brother" (aka my oldest brother) can't join because he has fallen into the same pit she did, quick and easy loans and marry into a rich family (so he has $0 net worth, but not in debt, but still the dignity not to ask his wife for money)
It's not a flex or anything, it's more of a warning that easy loans are so common in every part of the world, even buying house NOW is kinda of a bad idea since I think the housing market is going to fall due to credit not being paid in the long run.
Before I watched this I had no idea the US had fallen so low. the impression they give to a foreigner is of a culture that had developed a system of feeding off like a bunch of crows to members of society that has fallen to their knees. Its a disgrace. Seems the country of freedom means freedom to behave in whatever shit way you please.
@@Iason29 What the hell are you talking about? He said 500,000 people go bankrupt in the USA. That is .15% of the entire population. Don't be so naive and gullible by American media. They make everything sound like it's a rampant problem the entire country is dealing with.
@@DoomFinger511 The US is ranked 22 in the world for median wealth per citizen, right behind Qatar and Taiwan. Median wealth has gone down by $65,000 per person in just 13 years. The median wealth per adult in the US is $65,900. If the US lost wealth at the same rate it did over the past two decades, the US would literally have the poorest citizens on the planet. This is the shitshow we're living with that's "not a big issue."
@@DoomFinger511 what the hell are you talking about? he said 1.5 MILLION people go bankrupt ANNUALLY in the USA and a decade ago it was 800,000.
the clip of the man enshrouded in a flock of raccoons, tossing them hotdogs out of a Tupperware while shouting, "Yes... YES" sent me
That guys channel was recommended to me a few months ago, thats literally his life 😆
His channel is James Blackwood: Raccoon Whisperer. I'd really recommend it.
That was a wonderful thing to witness
What happens when he runs out of hot dogs? 🤔🦝 💀🤭
It is really cool seeing them chubby racoons stretching their little hands for hot dogs.
Bankruptcy is a legal process that individuals or businesses can undergo when they are unable to repay their debts. It provides a framework for financial relief and a fresh start. There are different types of bankruptcy, such as Chapter 7 and Chapter 13 in the United States, each with its own rules and implications. Bankruptcy can have long-term effects on one's credit and financial standing, so it's essential to carefully consider the decision and seek professional advice when facing overwhelming debt.
I believe that there are techniques that can be implemented for consistent returns regardless of the state of the economy or the market, but advisers or investment gurus with experience after the 2008 crisis often carry out such implementation.
The issue is most people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt, no offense. In general, invt-advisors are ideal reps for investing jobs, and at firsthand encounter, since Jan.2020, amidst covid outbreak, my portfolio has yielded nearly 300%, summing up to 7-figure as of today.
@@AbdoolLogodesign I need a guide so i can salvage my port-folio due to the massive dips and come up with better strategies. How can one reach this advisor?
I've shuffled through a few advisors in the past, but settled with 'Julie Anne Hoover' her service is exemplary and she's a genius in portfolio diversification. I'd suggest you research her further on your browser, sure you'll find her basic info.
@@AbdoolLogodesign Appreciate this recommendation, hopefully I can get some insight to where the economy is headed and strategies to beat inflation with when I hear back from Julie .
"People should never go bankrupt!" Tell that to the people who suffer some sort of medical emergency and end up having to pay Hundreds of thousands of dollars through something that is no fault of their own. Got to love American Healthcare.
I have cancer and I'm watching my account drain to nothing. Years of hard work down the drain. I guess cancer is my fault and I should have started a highly profitable corporation. 'Merica. Gotta love it.
@@jacobfromallstate4963 just move to Canada.
@@jojo7323 I'm in the southern US. That move would cost thousands
Regular people should never go bankrupt, but is seems to be just fine for tRump to declare bankruptcy multiple times and his worshipers just don't care. I guess it's good to be rich (or a reasonable facsimile).
People SHOULD never go bankrupt. People SHOULDN'T end up having to pay hundreds of thousands of dollars in medical bills. Things are not as they should be.
Genuinely love this show for teaching me all about the things the education system never considered important enough to teach. So many things I'd hear about all the time, but never taught about in depth.
School isn't supposed to teach you everything but instead give you the tools to find information, think critically, and problem solve
Tho it definitely lacks in those areas
@@MajorMlgNoob na that's not how it works.
@@MajorMlgNoob which I know none of these things
Best Datting Click 🔽
livegirls19. com
在整個人類歷史上，強者，富人和具有狡猾特質的人捕食部落，氏族，城鎮，城市和鄉村中的弱者，無`'守和貧窮成員。然而，人類的生存意願迫使那些被拒絕，被剝奪或摧毀的基本需求的人們找到了一種生活方式，並繼續將其DNA融入不斷發展的人類社會。
說到食物，不要以為那些被拒絕的人只吃垃圾。相反，他們學會了在被忽視的肉類和蔬菜中尋找營養。他們學會了清潔，切塊，調味和慢燉慢燉的野菜和肉類，在食品市場上被忽略的部分家用蔬菜和肉類，並且學會了使用芳香的木煙（如山核桃，山核桃和豆科灌木
來調味食物煮的時候 1618831118
I'm so glad he featured the raccoon whisperer. The raccoon whisperer is the greatest content creator on UA-cam!
James Blackwood and the sounds of 20 raccoons eating grapes with their noses up have helped me get to sleep or calm down at the end of the day many times. Love that channel.
I live in Chattanooga and I’m so proud to have our city mentioned on John Oliver’s show
'Now You See Me 2' still irritates my soul. IT WAS RIGHT THERE!
The other day I saw someone demanding the next Fast & Furious movie be called 'Fast10 Your Seatbelts', and when they fail to do that, me not watching it doesn't seem like nearly enough of a statement of my disappointment to them. I mean, partly because I've only seen the first one and wasn't going to watch it anyway, but still.
Thinking of Michael Scott:
“Michael, you need to declare bankruptcy.”
Michael: *walks out to office* “I!!!! DECLARE. BANKRUPTCYYYYYYYYY!!!!!!!”
Classic, one of the best shows ever
He didn’t just say it, he declared it.
That was hilarious 🤣
Thank you for using that guy who feeds raccoons. He's a very kind old man who told his wife after she died that he would feed the raccoons for her and he has done so for around 15 years. He has a UA-cam channel and lives in Canada I believe.
Wholesome
Link?
@@ubernerrd Search for James Blackwood - Raccoon Whisperer.
I love the Raccoon Whisperer. He's such a lovely fellow that feeds all the critters. Watching him feed raccoons hotdogs and cookies is a great way to de stress after a long day
Sounds like a wonderful human. Can we get a few billion more like him.
The intonation on that Julianne Moore speech was *flawless*. Who needs accent work when you can capture the tone of someone's delivery?
Yes. Accent work is distracting. I'd rather get Bad Hawaiian Keanu in Dracula than historically accurate Tom Hardy in The Revenant
"Once in a century" pandemic.
Gotta admire John's optimism.
when I heard that phrase, my first thought was "that's not gonna age well..." - the current interconnected state of the world is very pandemic-prone
It's not Johns optimism, the plaque, the Spanish flu, etc all happened around the 20'ies of the century.
@@likira111 yeah I figured it was a reference to the fact that the Spanish flu happened about 100 years ago, but I wouldn't be surprised if there's more than one global pandemic this century.
Definitely. The next one will be much, much sooner than the next century. With so many people in this planet and international travel, it's unavoidable. I sure hope I'm wrong, but the odds are not in our favor.
well it -is- was once in a century
at the time
Mary's husband got Isekai'd by truck-kun, and is now living his own storybook life.
@Halcon Serrano nah he just finished the story and got back
Unfortunately it was actually van-kun which is why he was hospitalized and thrown into debt hell
@@girishkumarpeddi6266 Truck-kun's arch nemesis.
We demand a spin off. Send me the link when it's ready.
My past life’s wife filed for bankruptcy?
I filed nearly 6 years ago...not because I'm lazy or a deadbeat but because I was drowning in medical debt. Immediately afterward I got dozens of credit card mailers for weeks and weeks...predators for sure.
When your discharged your credit oddly improves as your debt to credit ratio is really really low. That, and they know you won't pay so interest here we come!
@@bagitson it did! Jumped about 70pts. 6 years later I'm at a healthy 750:)
@@doctorbeanis Meanwhile, the fact that “medical debt” even exists as a concept is morally appalling.
@@tookitogo but, but... "murica"!!! (saying from someone who lives in a place with mandatory health insurance and THANK GOD we do have it)
@@alexejfrohlich5869 I can’t tell you how much I hate my country’s carelessness for its citizens ‘ health. Medical bankruptcy or being refused medical insurance because I had cancer is my nightmare. I wonder if we (Americans) will ever get the health care and security other wealthy countries have.
What’s even worse about student debt: when I had my student loans forgiven because I became disabled in Iraq from a mortar round, it counts as income. So I had to pay taxes on the “income” from loan forgiveness, and since I didn’t know, and didn’t declare it, the IRS fined me. So now I owe $15k in back taxes and fines on student loan forgiveness and I pay $250/mo of my tax free VA disability to an IRS repayment plan.
You can get the penalty waived if it's your first brush up with IRS....you can still do it If it's less than 3 years since you filed this return...It usually pays to hire a good tax person in these situations
@@jcman240 I hired a tax attorney. The best she was able to do was get me on a repayment plan.
@@usgatordid she mail a letter in requesting abatement of the penalty and you got a letter back from IRS denying abatement? I don’t know particulars of your situation, but IRS automatically waives penalty for 1st time offenders no questions asked… if she didn’t do this for you, then you may got hosed
@@jcman240 I’m not sure what all she did but the penalty wasn’t waived. I guess I got hosed. Figures, that’d be my luck.
unreal😡
I can't believe I've finally seen a clip before John showed it! The raccoon guy is named James Blackwood: the Raccoon Whisperer if anyone wanted to know! He's so precious!
Cool. I have two racoons around here and they scare me. They eat all the cat food. Nothing scares these buggers and they're huge o_O
YES! Thank you for giving James his credit! His UA-cam channel is one of my favorites
I've never watched it but the podcast let's make a music mentioned the raccoon hotdog channel in a recent episode so lowkey same
Do not google search James Blackwood.
You should Google "racoon whisperer story" and watch the video that's 11:45 long
Welcome to John Oliver, where the world's greatest Zazu sits in a void and makes you laugh and cry simultaneously.
I think even John would agree that he isn't "The worlds greatest Zazu". The competition for that title is pretty steep, and not in John's favor.
@@TheKrislaf Well I think he's the world's greatest Zazu, and that shall be my opinion to keep for myself
Ahhh.... The show that validates my rage. 💕
I have a feeling that this "once-in-a-century pandemic" is going to become like the "hundred-year flood".
The fact you included the raccoon whisperer makes me feel like life’s still worth living
Pretty much, especially with the other "Once in a century/generation" events that are currently happening
Well in Brisbane we had a hundred year flood about forty years after the last one so I don't know what's happening anymore.
Poor people: “I would like to exchange all of my current assets and capital for a second chance at avoiding predatory lending practices and unpredictable life events that may cause financial hardship.”
Government: “I don’t know man sounds like you just want to mooch off other people.”
So you go bankrupt and believe you should qualify for the lowest rates?
@@schmidthockey Yes, why don't you?
@schmidt, you must not be a Christian if you defend usury like that.
But the person agrees to accept the debt. So there’s still personal accountability.
@AWOL trooper explain this game?
I had to file bankruptcy years ago because of medical bills. Years later I have no credit other than my car, but I am back in debt again because...medical bills.
Let me guess... USA?
You love to see it
@@calebrobinson6406 a family member of mine had to file bankruptcy due to medical bills. Had insurance 100 percent coverage but went to the wrong hospital which wasn’t covered. You literally have to know your network of doctors and hospitals. Cause if you go to the wrong one your fucked
As a European I know so many people with serious medical issues, I myself was in therapy for 2,5 years. Just thinking that these things could ruin your life financially is wild to me. It’s easy to take healthcare for granted. Last week tonight really puts things in perspective
@@TheDonutMan3000 You have no idea how much I wish American health care didn't suck so hard. It ruins lives.
I remember when my brother died in 2015 the debt collection company for his student loans and bills where relentless like a shark or someother predictor animal did not stop. We kept sending them copies of his death certificate over and over again. It took over a year before they finally got the point.
they should have a term for predatory collectors like that. like...a lending tiger. or a borrow cougar. those sound clunky though. maybe someone can think up a better name
edit, 2 months later:
horace: debt rat. It's not predatory, predators have dignity. Those are pure scavengers.
J Braz: I'd tell them to come pry it out of my hands
Alex Trebek: I'd like to thank everyone for playing, the answer was actually Loan Shark. Loan Shark, oh! and Sean Connery appears to have a live octopus on his podium. No, stop tha-
(exhasperated sigh)
Alex Trebek: unsuprisingly, Burt Renoylds has a 10 gallon hat in which the octopus is now residing.
Turd Ferguson: ..........my name's Turd Ferguson.
@@mrmustaine debt rat. It's not predatory, predators have dignity. Those are pure scavengers.
@@mrmustaine I'd tell them to come pry it out of my hands
Of course if your last name is "Trump," filing bankruptcy six times just means you're "smart."
Business genius? Pbphhhhhtt;
😝
"Bankruptcy is about financial death and financial rebirth. Bankruptcy is the great American story rewritten. We're a nation of debtors." -- Elizabeth Warren
Agreed 💯
I thought her original plan (long before pres run) to cautiously extend bankruptcy protections to student loans was fantastic. Still don't understand why she pivoted to total student loan forgiveness for all.
@@doom2avatar I assume because the situation has gotten so far out of hand that just extending bankruptcy protections isn't going to have the desired effects. People need that clean slate basically immediately with no strings attached.
@@doom2avatar
I assume because student loan forgiveness is incredibly popular and presidential elections are (supposd to be be?) a popularity contest for ideas.
I'm only assuming though. I didn't particularly care for Warren and I've never had student loan debt.
@@doom2avatar : Because she realized that you need to push for something big to have any hope of compromising on something adequate.
"thank you for watching, we're back may 2nd"
*mentally preparing myself for two weeks of sadness*
I just realized now, it hurts.
Followed by more depression when on May 2nd John reveals yet another part of America that is irrevocably fucking broken, and being kept that way because of the fucking GOP.
east coast Americans are watching at 2 in the morning because we love you John
I can't sleep, and I watched this gem. I disagree with John on some things, but this episode is a gem. I appreciate him for releasing this information.
So true
Time moves faster for us lmao
Even further east G's watch this at 9am on a Monday, right as it comes out
4 almost 5 am for me but hell yeah i agree with ya lol you are definitely not wrong.
This episode literally saved me from filling for bankruptcy after my divorce. Thank you John!
"I can't afford to go bankrupt"
Guys, I think we've reached peak capitalism with this one.
🏆Trophy unlocked
@Ptao Tom That was filmmaker Michael Moore. Not sure what point he was making, but I'm sure he was up to something that would antagonize the republicans.
Late-stage capitalism is a cruel joke.
Capitalism is an unstoppable beast, but it works. We told it "profits" and it just roared and got the job done. It stomped all over people in the process. If you take the framework for capitalism and replace "profits" with "human wellbeing" you'd have all the power of the strongest beast and you'd be directing in a way that never made sure the most expensive thing you could be is poor.
@@dionmcgee5610 James Blackwood isn't Michael Moore?
I kinda wish this show still did bits where they showed a funny animal in the beginning before extremely depressing pieces
They did do this in this episode. It was about a large rabbit. Only the main topic of the episode is published on UA-cam.
@@scoochaside honestly, I hope they make an exception for such a horrid week
They show Zazu at the beginning of every show
@@DuranmanX But only if you watch on HBO, they don't show the funny bit on YT anymore and ot everyone can afford (or wants) HBO.
Search for the name of the show and the date you want, and you'll find that people have uploaded the entire show, including the funny bits at the beginning.
Not only do I have student loan debt from a degree I never got to use, but when my mental health took a dip, I have a large medical bill from my personal rock bottom. It feels like I’m drowning. The system has no pity for me.
I am sorry you have to deal woth this unnecessary bullshit. The US is backwards as hell.
Man do I relate to this. I was partway thru medical school when I had a mental health crisis and left without finishing, so I have the debt (~$100K) of a young doctor but no degree to show for it. The system may not care about you but I do
TNV ... Not alone. My student loan debt grew from $75k at 8.5% to $300k now in April of 2021. It grows $25.5k (or more) a year in interest. No way I can even make the minimums.
@@kathleenbrown5402 Yes, not only one with excessive SLD. I too had to drop out of school because my father died, but Bankruptcy takes no pity on student loan debts.
And that my dear lady is why the system really really really needs fixing and everyone talks about class warfare🤨a damn joke if you ask me.
That exhale at the end of "shame on you!" was beautiful you asparagus-grown-without-sunlight-look-a-like
Me: "Ahhh, Monday, I'm feeling ok!"
John: "OHYOUWANTTOBEDEPRESSEDABOUTTHESYSTEMDOYOU?!?!?!"
Eh you have an off week before facing how much reality sucks again.
Just never forget, and pay attention to who you vote for is really all you can do.
@@monsieurdorgat6864 Voting doesn't do anything. Both parties have sold themselves to the corporations and their shareholders after WW2.
@@LadyCoyKoi There's some truth to what you say, but your oversimplification is a problem.
Big elections are the culminations of many smaller political movements. As you said, your vote for a state senator or your president is a drop in the ocean. Those selected to vote on your behalf will take as much leash as their majority constituents allow them for their own gains.
If you feel strongly about making a difference, what matters much more are your local elections. The smaller the election, the more of a difference you make. These differences are still palpable and useful! And they set precedents and advance political careers you approve of.
Also, I assure you our country has been owned by the wealthy elite from its founding, not just after WW2. In fact, modern transparency has only revealed the ugly that has always been there.
@@LadyCoyKoi should look for one that you can make accountable 😄
We could just kill the Republikkkans. They did commit treason in 1/6
ALL of our problems would go away if they die!!!
Always a good day seeing John shining a light on issues, then a bad day after knowing these issues.
Like most things, we have double-standards with bankruptcy in the US:
When an individual does it, they're considered a dead-beat scumbag.
When a company does it to skip out on debts while staying in business, it's considered a smart business move.
Same with taxes - especially if your the ex-POTUS.
idk how his jullianne moore impression isnt getting more recognition at 11:25