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Education Price Inflation Funded Boom Time Bubble Lending and Lax Underwriting- Bubble, Bubble, Toil & Trouble!
More excerpts from the Max Keiser interview that Aired Monday as well as a piece from RTs Capital Account...
The US Education Ponzi causes rampant tuition inflation in the face of tepid if not non-existent increases in actual education quality - of course all of this is financed by a credit/loan bubble where you have a ~trillion dollar market that already has a ~25% delinquency rate. Exactly how is this expected to end?
Speakng of education...
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Just wanted to drop a comment and say I am new to your blog and really like what I am reading. Thanks for the great content. Look forward to coming back for more.
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Oh yes, the issue was education!
IMHO, Student loans are being (Mis-) used as a last resort source of funding after all benefits have expired. This will not end well.
I also believe that College tuition is out of control because of Student loans. If the market (Remeber the market?) was allowed to function, if folks could not afford tp pay the tuition, rates would decline. Of course, over-staffing, lack of educational focus and tenure all play a part but the bottom line is funding.
There should be a distinction between public and private education. Public funding for education is largely subsidized by state governments. Following the housing crisis, many states cut their school funding, forcing schools to make up the difference by cutting programs, staff and capital expenditures, while raising tuition. That is the reason for inflation in the public sector.
In the private sector, rates keep going up like Reggie describes, not do to cuts or improvements, but because they know the students can get the money through loan programs with little or no restrictions.
Most states legislate being a cog in the wheel with non-compete agreements. They claim it is to protect the companies "investment" in you. How is it fair then, if you don't get a raise, in some instances take pay cuts, and recognize a company is heade ddown the wrong path, yet you cannot leave to a similar company that is successful, or even start your own in the same market? Bunch of bullshit.
Two true stories..My cousin will take 6 years to earn sometype of degree so he can pursue his dream of playing in the marching band at football games. Sounds like $100,000 of fun especially if someone else pays for it. Second, the small fraternity that had 30 members and a small rental house when I was in college now wants to build a $4 million house for 125 members, hitting up the "brothers' for large commitments (guarantees). Debt can sure cloud one's thinking. It all seem so easy until you have to pay it back with interest.
That RT chick is hot. Too bad she took off her glasses.................Still no wedding ring either...........
Except for her voice. Why do all American women yell and whine like they have a clamp on their nose?
It's a self fulfilling prophecy: they yell and whine and then they don't get laid, they don't get laid, they yell and whine more, they yell and whine more...................etc. etc.
If they just wouldn't yell and whine...........
That aside, she is well briefed (sic) and asks the right questions. RT seems to be the only network that actually challenges issues and is doing a great job with MF Global etc., unlike the MSM left and right which are just publishing the PR of TPTB "Case going cold, sheer panic over the last few chaotic days" blah blah blah.