Two Mikes - The Worst is Yet to Come with Gordon Oliver

·38 min·3 clips

Gordon Oliver explains why the economy is worse than a hurricane, revealing hidden financial truths.

The episode begins with hosts Dr. Michael Shoya and Colonel Mike welcoming Gordon Oliver back after a hiatus. Oliver opens by comparing the temporary impact of a hurricane to the persistent economic crisis, noting hidden financial truths and media failures. He discusses rising food and insurance costs, with examples like eggs increasing 59 cents weekly and homeowner's insurance jumping from $121 to $155 monthly. Oliver highlights adjustable rate mortgages hitting 7%, causing mortgage payments and escrow to rise. He explains how people use credit cards for essentials, leading to high-interest debt at 29-32% for high-risk individuals. The conversation shifts to student loans, where Oliver reveals a client had $940,000 forgiven under the Public Service Loan Forgiveness program, established in 2007 but broken until recent fixes. He details program requirements, such as 120 payments and eligible employers, and critiques the Biden administration's separate forgiveness efforts. Oliver breaks down college costs, showing how degrees can exceed $400,000 due to unchecked tuition and government-backed loans with 8-12% interest. He mentions Sally Mae's role in private student loans and the history of federal loan programs. The hosts and Oliver discuss 501c3s, their eligibility for loan forgiveness, and involvement in border issues, with Oliver clarifying Cambridge Credit Counseling's non-profit status. They explore financial literacy gaps, with Oliver describing packed webinars for students and the need for budgeting conversations. The episode covers car loans at 30% interest, payday loans, and consumer spending habits, like prioritizing Netflix over essentials. Oliver emphasizes fiscal responsibility at the household level, advising on cutting expenses. The hosts ask about young couples and college planning, with Oliver stressing tangible cost discussions. The episode ends with Oliver promoting his podcast, The Cambridge Connection, and offering free counseling.

As heard by us

Gordon Oliver turns student-loan history into a plainspoken warning about debt, delay, and the cost of changing direction.

Two Mics opens with a blunt question about what is getting worse, then moves from the economy, credit, and a Houston hurricane into a longer look at student debt.

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Why you'd press play

For a reality check on student debt, press play when a $160,000 school bill needs a sober second look.

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