Student Loans

What's Truly Progressive?

We know what fake-Progressives support: neocon-neoliberal policies and narratives that enable elite privilege, power and Imperial pretensions. So what's truly progressive?

The Islamization Of Britain In 2016: "More Backwards Than Some Parts Of Pakistan"

More than 100,000 British Muslims sympathize with suicide bombers and people who commit other terrorist acts, according to a 615-page survey. Only one in three British Muslims (34%) would contact the police if they believed that somebody close to them had become involved with radical Islam. Teaching children fundamental British values is an act of "cultural supremacism," according to the National Union of Teachers.

Consumer Credit Soars, Driven By Near Record Credit Card-Fueled Spending

After several months of tepid growth in the revolving consumer credit, i.e., credit card, space, the latest monthly report from the Fed revealed that Americans went on a credit card-funded shopping spree in November, when total revolving credit exploded higher by a massive $11 billion, the highest November increase on record, and the second highest of the post crash period.

3M LIBOR Tops 1.00% For First Time Since 2009

While US equity prices push ebulliently towards their next level of Nirvana, financial conditions continue to tighten for American businesses. For the first time since April 2009, 3-month LIBOR - one of the most important reference rates for business financing - topped 1.00% today.

New York Governor Proposes "Free Tuition" For Public Universities

Apparently New York's Governor doesn't think that misinformed government policies are doing nearly enough to drive up college tuition costs.  As a result, he has decided to offer "free" tuition at public state and city colleges to any student whose parents earn less than $125,000.

A Biased 2017 Forecast, Part 1

"We are prone to overestimate how much we understand about the world and to underestimate the role of chance in events..."

Frontrunning: December 27

  • Monte dei Paschi Rescue Cost Jumps as Deposits Fall (WSJ)
  • Russia finds first black box from Black Sea crash jet (Reuters)
  • Prat-Gay Fired as Argentine Finance Minister After One Year (BBG)
  • Fear of Trump Triggers Deep Spending Cuts by Nation's Second Largest Union (BBG)
  • Xi’s Power Play Foreshadows Change in How China Is Ruled (WSJ)

Dave Collum's 2016 Year In Review - "And Then Things Got Really Weird..."

"Markets don’t have a purpose any more - they just reflect whatever central planners want them to. Why wouldn’t it lead to the biggest collapse? My strategy doesn’t require that I’m right about the likelihood of that scenario. Logic dictates to me that it’s inevitable..."

College Student Earns 4.0 GPA, Then Drops Out: "You Are Being Scammed!"

"Now that I’ve finished my first semester I think it’s safe to say… FUCK COLLEGE... You are being scammed. You may not see it today or tomorrow, but you will see it some day. Heck you may have already seen it if you’ve been through college. You are being put thousands into debt to learn things you will never even use. Wasting 4 years of your life to be stuck at a paycheck that grows slower than the rate of inflation..."

Frontrunning: December 20

  • Trump wins Electoral College vote; a few electors break ranks (Reuters)
  • European Stocks Head for a One-Year High (BBG)
  • Japan's Central Bank Keeps Policy Unchanged, Upgrades Economic Outlook (BBG)
  • Russia and Turkey vow to keep detente on track after murder (FT)
  • The Political Implications of Events in Ankara and Berlin (BBG)