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President Obama Explains How He Will Blow The Student Loan Bubble Even Bigger - Live Feed

Tyler Durden's picture




 

Despite warnings from various members of the Fed that Student Loans are becoming troublesome, we suspect President Obama's address this afternoon on expanding opportunities to go to college will be nothing but more pumping free money into a hyper-inflating (and increasingly worthless) higher education system...

 

 

As we previously noted,

What's worse, while the 90+ day student debt delinquency rate did
post a tiny decline from 11.8% to 11.5% in Q4, on a total notional basis
due to the increase in outstanding balances, as of this moment
the amount of heavily delinquent student loans has just hit a fresh
record high of $124.3 billion, up from $121.5 billion in the prior
quarter.

So: when does the Fed finally admit i) there is a student loan
problem and ii) the only way to solve said problem is to promptly
monetize it?

Finally, putting new "debt" creation in perspective, in 2013 just student and car loans alone represented 108% (that's right, more than all) of total household debt created.

 

That won't end well..

 

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Fri, 03/07/2014 - 15:47 | 4522427 Four chan
Four chan's picture

spend spend spend

Fri, 03/07/2014 - 15:48 | 4522439 Rick Blaine
Rick Blaine's picture

"Growth"

Fri, 03/07/2014 - 15:49 | 4522444 JoeSexPack
JoeSexPack's picture

O blows Reggie bigger.

Fri, 03/07/2014 - 15:55 | 4522456 Hippocratic Oaf
Hippocratic Oaf's picture

2:51, he's late

He thought they said Coral Spliff High.

O: Damn, I thought that was some new shit!

Fri, 03/07/2014 - 15:59 | 4522491 TruthInSunshine
TruthInSunshine's picture

Obama's HOPE, CHANGE & UNICORN FSA Act

1) Borrow as much federal student loan money as you can to attend Everest/ITT Tech/University of Phoenix/Brandman Online University

2) Buy an Escalade with the money and use the other loan portion to set up marijuana dispensary in Colorado.

3) Profit

4) Stiff the repayment schedule once you've accrued some serious bank, and vacation in Hawaii 120 days a year

Fri, 03/07/2014 - 16:12 | 4522559 Hippocratic Oaf
Hippocratic Oaf's picture

Whos' the posse behind him? Next to play the knockout game?

Fri, 03/07/2014 - 16:34 | 4522664 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

Speaking of student loans, how 'bout a look at those college transcripts Obama, you less-than-open-and-transparent fraud.

Fri, 03/07/2014 - 16:42 | 4522721 MeMongo
MeMongo's picture

He just wants a little "RSPECT";-) ha ha stoopid!

Fri, 03/07/2014 - 16:20 | 4522597 Froman
Froman's picture

so the OHCUF Act is based on the uderlying business model of the underwear gnomes...nice!

Fri, 03/07/2014 - 16:26 | 4522631 johnQpublic
johnQpublic's picture

where is he that the sycophants still cheer him?

 

unicorn in every pot

skittles in every garage

mo' purple drank

Fri, 03/07/2014 - 15:54 | 4522468 McMolotov
McMolotov's picture

"It's Mega-Douche... He's gone from suck to blow."

Fri, 03/07/2014 - 16:14 | 4522570 lordylord
lordylord's picture

These lazy mother fucking socialists.  These kids take out huge loans, go to college and don't even know what to study.  They pick easy majors and the easiest classes.  They party all semester and brag about passing classes without doing any work.  When they graduate with no emplyment prospects, they go crying to government and demand free education.  I work hard and now I have to fund these pieces of shit through my taxes?  I am sick of this bullshit.  Anyone else sick of it? 

Fri, 03/07/2014 - 16:17 | 4522580 john39
john39's picture

most people that age are clueless...  they are being used to prop up the ponzi, the very definition of useful idiots.  But the real criminals are the ones who dreamed this up.  debt serfs for life meanwhile the ponzi rocks on. 

Fri, 03/07/2014 - 16:28 | 4522638 lordylord
lordylord's picture

I don't buy that.  These people are not victims.  They are the criminals.  They are looking for a free ride at the expense of the tax payer.  Otherwise, they would be studying and working instead of partying.     

Fri, 03/07/2014 - 20:39 | 4523452 Burnbright
Burnbright's picture

Excuse me? Criminals?  So anyone that borrowed money and can't or doesn't pay it back is a criminal.  Are you fucking high? How about all the people that defaulted on their mortgage and walked away from any and all obligation. You ass holes make me sick. The problem isn't the borrower it's the lender. Government shouldn't be lending money to kids or anyone for that matter because then it makes it a social cost when someone defaults rather than a private cost. 

And incase you didn't know they heavily push going to college on you in high school and mention loan options but never bring up the fact that you can't declare bankruptcy to wipe it out if you were un able to pay. It is immoral to allow only one type of debt to be immune to debt liquidation.

Fri, 03/07/2014 - 20:36 | 4523528 PT
PT's picture

They are useful idiots.  They think they're soooo clever to get all the "free" money, I mean "free" debt, but they had no way of doing it by themselves.  The big money is with the lenders.  When the shit hits the fan, the lenders will be bailed out and the borrowers will be left to their own devices.  Then you will find out how clever and how much power the borrowers really have.  Hint:  Some borrowers may find loopholes to allow them to continue to game the system - but they still need enablers to help them - but some borrowers will be fucked.

 

 

Sun, 03/09/2014 - 09:39 | 4527251 N2OJoe
N2OJoe's picture

Fuck them both!

Da gubbmint for entrapping them and the kids(FSA) for trying to cheat out a free ride!

Unfortunately though, it will be we the Taxpayers who get fucked in the end. As usual.

Fri, 03/07/2014 - 16:37 | 4522685 jackstraw001
jackstraw001's picture

Wait until these fuckers wake up and find out that student loan debt is non-dischargeable in bankruptcy...

Fri, 03/07/2014 - 16:43 | 4522725 ncdirtdigger
ncdirtdigger's picture

a phone and a pen will fix that

Fri, 03/07/2014 - 16:35 | 4522674 SAT 800
SAT 800's picture

t wo words; "Buying Votes".

Fri, 03/07/2014 - 20:55 | 4523594 PT
PT's picture

Buy votes?  Why do they need to buy votes?  Each Prez picks up from where the last one left off.  Promises are broken all the time.  (In my country, at least) it is nothing to see the one voted in enacting policies of the opposition.  I'd like to believe you, and I don't blame you for believing they want or need to "buy votes" but I simply don't believe it any more.  

People want "affordable" but instead are given debt?  I guess that fits in with the idea, "Why give them caviar when they're happy with chicken feed"? and so you are right, "The Free Shit Army voted to get the bennies that will destroy the US", except the bankers stand to gain a hell of a lot more than the FSA, and the bankers actually have the power in place to influence policy.  The banksters will always get bailed out.  All the banksters need is a mechanism to lend money where it should not be lent.  The banksters have the lobbyists.  The banksters have the revolving door jobs at DC.

The ONLY reason the FSA has ANY "Power" is because their wants are so easily manipulated by the banksters.  Without the banksters, the FSA has NO power.

Fri, 03/07/2014 - 16:00 | 4522452 Harbanger
Harbanger's picture

Article should be titled Spendident Obama instead of Pesident.

Edit: they fixed the typo in the title, someone's not drinking enough coffee in the ZH news room.

Fri, 03/07/2014 - 17:34 | 4522943 Berspankme
Berspankme's picture

seriously, does anybody lto this assclown anymore? Guy is  total zero. Go blow Reggie president assclown

Fri, 03/07/2014 - 15:47 | 4522433 monad
monad's picture

What can't government destroy?

Fri, 03/07/2014 - 15:54 | 4522471 RafterManFMJ
RafterManFMJ's picture

What can't government destroy?

Our steadfast faith in its festering evil and incompetence?

Fri, 03/07/2014 - 16:16 | 4522574 KickIce
KickIce's picture

That might be a another chart that shows exponential growth.

Fri, 03/07/2014 - 16:30 | 4522643 johnQpublic
johnQpublic's picture

the Sun?

Fri, 03/07/2014 - 22:34 | 4523885 monad
monad's picture

Even the sun can be shoved down the ignant memory hole of Anti-Life.

Ask Galileo, theofascism is a bitch.

Fri, 03/07/2014 - 20:42 | 4523551 monad
monad's picture

Liz Warren's socialist sex education on 2 year olds will destroy that.

Fri, 03/07/2014 - 15:48 | 4522438 Cangaroo.TNT
Cangaroo.TNT's picture

Easy:  Student loan forgiveness for serving on the eastern front.  Today's freshmen will be tomorrow's fodder.

Fri, 03/07/2014 - 15:53 | 4522465 onewayticket2
onewayticket2's picture

you know he's going to promise forgiveness....right before the Election.

 

Fri, 03/07/2014 - 16:03 | 4522517 Harbanger
Harbanger's picture

Running on repealing Obamacare should get him a 3rd term.

Fri, 03/07/2014 - 15:55 | 4522477 Postal
Postal's picture

One doesn't have to "serve" on any front. Any gov't job will have the same effect: Taxpayers absorbing the loan.

Fri, 03/07/2014 - 15:48 | 4522440 Event Horizon
Event Horizon's picture

must keep debt ponzi going...

 

Triffins Paradox

Fri, 03/07/2014 - 15:50 | 4522445 skwid vacuous
skwid vacuous's picture

all those high paying jobs are just 4 years and $120k in debt away - dream big kidz!

Fri, 03/07/2014 - 16:05 | 4522524 Hippocratic Oaf
Hippocratic Oaf's picture

4?

Bwahahahahaaaa

Fri, 03/07/2014 - 16:21 | 4522601 KickIce
KickIce's picture

And if that doesn't work out you'll be able to beat out the local HS dropout for a fast food job.  Winning.

Fri, 03/07/2014 - 21:02 | 4523610 PT
PT's picture

Oh, so sorry, your competitors are willing to do your job for two dollars per hour.  Maybe you need to borrow some more money and get more qualifications.  You need to work harder.  You need to work smarter.  You need to borrow more money.  You need to be more competitive.  You need to differentiate yourself from the competition.  You need to take on risk.  You need to manage your risk ...

Fri, 03/07/2014 - 15:50 | 4522449 superflex
superflex's picture

Bad Luck Schleprock

All he touches turns to shit but the shit never finds it's way back to him.

 

Fri, 03/07/2014 - 15:51 | 4522453 ShrNfr
ShrNfr's picture

This creep has zero manners. Late again as always. Gad what a "Begger on horseback" he is.

Fri, 03/07/2014 - 16:03 | 4522515 Kilgore Trout
Kilgore Trout's picture

Making people wait is a well-known trait of the narcissistic personality.

Fri, 03/07/2014 - 16:19 | 4522563 Lore
Lore's picture

Notice the sleeves rolled up again!  Truly, this is a dynamic man of action! 

The kids in the front row were apparently issued red neckties: better than armbands.  Wonder what they'll think and how they'll feel, looking back on this in a few years.

Fri, 03/07/2014 - 15:51 | 4522455 Overfed
Overfed's picture

The shit's hitting the fan in Europe, and O'bomb-a is out campaigning right before going on vacation. What a worthless fuck.

Fri, 03/07/2014 - 15:52 | 4522458 ejmoosa
ejmoosa's picture

No Retreat.....

Fri, 03/07/2014 - 15:52 | 4522460 Dr. Richard Head
Dr. Richard Head's picture

I was reading the Huffington Post a few days back where they tried to support the old Keynesian notion of spending during economic downturn is not only prudent, but required.  Scanning the comment section showed the majority there supported it with open arms.  So sickening the lies people believe. 

Fri, 03/07/2014 - 15:56 | 4522481 onewayticket2
onewayticket2's picture

...but even Keynes would say that in good times, you do the opposite.....  govt spending as a trim tab, not the primary engine.

Fri, 03/07/2014 - 16:09 | 4522538 TruthInSunshine
TruthInSunshine's picture

Keynes said that in bad times, government should pay ditch diggers to package and bury choom, and then buy choomwagens & hire "choom prospectors" to go and find & dig the choom up, to stimulate the economy.

Fri, 03/07/2014 - 15:57 | 4522490 Postal
Postal's picture

I was reading the Huffington Post...

And you admitted that?

Fri, 03/07/2014 - 16:41 | 4522717 BolanosGhost
BolanosGhost's picture

Occasionally venturing into the zoo to watch the monkeys is probably okay. 

Fri, 03/07/2014 - 16:06 | 4522525 Georgia_Boy
Georgia_Boy's picture

Libs online have been retreating to censored sandboxes, Huffpo being one of the main ones. Comment sections even on liberal leaning outlets like CNN have been getting a lot of red pill messages. A lot more people have woken up to the nonsense of the academic ivory tower in many fields. We're not going away, so sites like them will be on the defensive. Hopefully they'll mostly seem laughable and out of touch.

Fri, 03/07/2014 - 15:52 | 4522461 pragmatic hobo
pragmatic hobo's picture

as we now know for some people the student loan is the last resort to their ability to pay the cable bills, cell phone data plans, and increasingly drug money.

Fri, 03/07/2014 - 15:57 | 4522467 John McCloy
John McCloy's picture

 I just realized something..isn't Tiger playing in a tournament this weekend in Florida? 2-1 says he plays a few rounds with Pres. before the weeks up...makes perfect sense now why he is headed to the Keys. Maybe Pres. can catch the final round on Sunday in person but that may be too overt with everything going on in the real world to spin.

   Maybe Tiger has a few stategies on how Pres can handle the Bear.

EDIT: 

For fun I just did a Google Maps search on the distance between Coral Reef High School where Prompter is speaking and the Trump Golf National where the tournament is being held and geuss what ONLY 17 MILES...Yeah Pres...Dinner and a few holes with Tiger tonight.  What a coincidence.

Fri, 03/07/2014 - 16:06 | 4522528 Let The Wurlitz...
Let The Wurlitzer Play's picture

Barry is definitely staying in Key Largo for a long weekend of golf.  Fox news posted an article on it yesterday.  It must be nice to be the president AND not give a shit about people.

All hail the hypocrite and chief.

 

Fri, 03/07/2014 - 16:48 | 4522744 HoleInTheDonut
HoleInTheDonut's picture

But, Tiger is into white blonde women... I guess they will put aside there differences and focus on the golf?

Fri, 03/07/2014 - 16:43 | 4522700 superflex
superflex's picture

Tiger probably wont make the cut anyway. He's +7 in the second round while the leaders are at 4 under.

 

Fri, 03/07/2014 - 15:54 | 4522473 squid427
squid427's picture

Put the gov in charge of the desert and they will run out of sand.

Fri, 03/07/2014 - 15:55 | 4522474 Georgia_Boy
Georgia_Boy's picture

All together now libs ... one, two, three- "But in Eurr-ope, college is FREE!!!"

Fri, 03/07/2014 - 21:12 | 4523637 PT
PT's picture

30 years ago, University in Australia was free.  Then they invented "student loans and the govt can change its side of the contract whenever it feels like it".  How is it that the govt could afford to give us free uni back when all the baby-boomers were learning, but they couldn't give us free uni when all the baby-boomers were in their peak earning years?????????????

 

Fri, 03/07/2014 - 15:58 | 4522496 pound the vix
pound the vix's picture

Next headline "Sign up for Obamacare and your student loan will be forgiven"

Fri, 03/07/2014 - 16:03 | 4522518 skwid vacuous
skwid vacuous's picture

who is this twat with the beach towel on her head?

Fri, 03/07/2014 - 16:24 | 4522520 ejmoosa
ejmoosa's picture

Unfuckingbelievable......

 

Here's my idea for college funding.  Let the universities collect 10% of the student's income for ten years after graduation.  We won't even collect taxes on the student.  

Then let's see how many majors and classes suddenly disappear because they are worthless.

 

Fri, 03/07/2014 - 17:01 | 4522783 WhyWait
WhyWait's picture

Not so easy.  Students are in many cases picking the majors where the jobs are.  But by the time they finish - assumign they don't drop out - the market has changed.  Students who finally get their nurses aide degree are finding now that there are no jobs left.  Many double down by going for a Bachelors in Nursing - but now that is often not enough and some keep going for a Masters.  For the first time now we're starting to hear about newly-minted RN's not finding work and going back for a freakin PhD in nursing!

Bottom line, the idea that we can educate ourselves out of a Depression is a swindle. The Student Loans are part of the scam.

Fri, 03/07/2014 - 17:27 | 4522907 ejmoosa
ejmoosa's picture

Then the onus would be on the colleges and universities to correctly forecast future opportunities would it not?

As of now the colleges and universities profit despite educating the kids in the wrong areas.

 

Better yet, let's teach the kids basic skills like reading and writing and critical thinking. 

 

When the universities start laying off because they are not getting any returns on what they have produced, things will change rather quickly.

Fri, 03/07/2014 - 16:09 | 4522539 Steve in Greensboro
Steve in Greensboro's picture

Your Cloward-Piven president.

Fri, 03/07/2014 - 16:09 | 4522540 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Potus interruptus.

Sounds good, but doesn't work.

Fri, 03/07/2014 - 16:10 | 4522543 RaceToTheBottom
RaceToTheBottom's picture

What the Obama needs is a Disruptive technology.

Put everything on the Internet.  Withhold funding until Universities put every presentation on the net. 

Then allow university degree challenges...

It would be fun to watch.

This is prostitution to the UIC

Fri, 03/07/2014 - 16:11 | 4522551 esum
esum's picture

yeah come down and see what is going on.... enroute to the OCEAN REEFF RESORT in Key Largo...  on another taxpayer paid  v a c a t i o n... always surrounds himself with bobbleheads... sells unicorns and pipedreams... shits on the floor and leaves

Fri, 03/07/2014 - 16:12 | 4522557 Yen Cross
Yen Cross's picture

     Is anyone really surprised? What better way to have a loyal constituency, then to make them dependent debt slaves that you can indoctrinate/brainwash through our education system... Obama probably had a "raging boner" the whole time he was speaking!

Fri, 03/07/2014 - 16:21 | 4522590 Bear
Bear's picture

I urge you fellow young American ... Fill out the form ... get into debt ... and God bless America

Fri, 03/07/2014 - 16:20 | 4522595 esum
esum's picture

hey obama ... wehn are you going to release YOUR academic records.... and exactly WHO paid for your education.... scumbag

Fri, 03/07/2014 - 16:21 | 4522600 Meat Hammer
Meat Hammer's picture

Student loans for a good education...LOL.  I took out a student loan in my final semester of college so I could go to Amsterdam.  I'm surprised I remembered to pay it.

Fri, 03/07/2014 - 16:21 | 4522604 Zoomorph
Zoomorph's picture

We should be keeping students dumb so they will be happier with the low-tier jobs most of them are going to get upon graduation.

Fri, 03/07/2014 - 16:33 | 4522661 headhunt
headhunt's picture

That is why they are legalizing MaryJane

Fri, 03/07/2014 - 16:31 | 4522625 Dr. Engali
Dr. Engali's picture

Damn shut the fuck up! Do we have to have a live feed of zero every fucking day? This guy is just unbelievable. Go on vacation already and get out of our lives.

Fri, 03/07/2014 - 16:27 | 4522633 surf0766
surf0766's picture

I can't watch anymore. I get sick watching.

Fri, 03/07/2014 - 16:30 | 4522644 RSDallas
RSDallas's picture

Interesting how the crowd shuttered a bit when he mentioned that he wanted to make it so that he could snoop on each kid to see if they had completed the form.

Fri, 03/07/2014 - 16:55 | 4522770 XitSam
XitSam's picture

Most people act as if a student loan bubble, if they even acknowledge it, is just an unintented consequence of Obama's good intentions for everyone to get a college education.

Obama wants more debt of all kinds. Both personally and as a country. Because it will make people easier to control.

Fri, 03/07/2014 - 17:15 | 4522856 Frostfan1
Frostfan1's picture

It's the same rigged voting game on the Democrat side.  They're always personally against abortion, but they vote for it anyway.  They're all against gay marraige in public but hmm, I wonder what happened with the campaign money from the gays and how we now have gay marraige everywhere.  Against drugs too, oh well.  And the same about irresponsible student loan borrowing...........yeah.  

I'm not putting halos on the republicans given their reckless views on military spending no matter what and their continued whispering and tantrums against Roe V.  Wade but the theft the Democrats are getting ready to unload on us with the future student loan debt forgiveness is ridiculous.

Fri, 03/07/2014 - 17:41 | 4522974 Rising Sun
Rising Sun's picture

education and healthcare - two of the biggest overpriced make-work schemes ever

 

the lefty fear mongering goes unchallenged in both these categories - the lefties will spend your last dollar to pay for more crap that most don't need

 

student loans - what a way to start out

Fri, 03/07/2014 - 21:20 | 4523653 PT
PT's picture

The only way left to profit:  Get your product made compulsory and paid for with borrowed money.

Fri, 03/07/2014 - 21:59 | 4523773 22winmag
22winmag's picture

More student loan suicides coming right up!

Sat, 04/19/2014 - 08:07 | 4675187 Jull
Jull's picture

I am afraid that in the nearest time the concerns abut the cost of education can be changed for the ones about the quality of it. Still the student debt is a real problem of our time and many of families struggle with it, trying to keep to the budget and cover the costs somehow. For tough times one can always use Personal Money Service http://personalmoneyservice.com/, but it may give you only the temporary relief and the problem of student loans should get some decision finally.

Sat, 04/19/2014 - 08:08 | 4675190 Jull
Jull's picture

I am afraid that in the nearest time the concerns abut the cost of education can be changed for the ones about the quality of it. Still the student debt is a real problem of our time and many of families struggle with it, trying to keep to the budget and cover the costs somehow. For tough times one can always use Personal Money Service http://personalmoneyservice.com/, but it may give you only the temporary relief and the problem of student loans should get some decision finally.

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