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GOP Blocks Bill To Extend Low-Interest Student Loans
While not exactly surprising, today's Senate failure to extend a bill extending the currently low interest on student loans, after a blocking vote by the GOP may bring even more attention to what Zero Hedge has dubbed one of the biggest bubbles of 2012.
From Reuters:
U.S. Senate Republicans on Tuesday blocked a White House-backed bill that would end a tax break for some private firms in order to fund an extension of low-interest rates for federal student loans.
Republicans prefer to cover the $6 billion cost of a one-year renewal of the 3.4 percent loan rate by taking money from Obama's healthcare overhaul. A compromise is expected. A deal must be reached by July 1 to prevent the loan rate from doubling for more than 7 million students.
The Senate vote was 52-45. Sixty yes votes were needed to move the legislation along.
That there will be politics involved in this touchy subject is not a secret. What, however, will hit the American (young) consumer class (and recidivist iGadget buyer) like a wall of bricks is if on July 1 there is still no deal, and the student protests seen in the recent past in London and Montreal spread to US campuses, where students demand the dignity to file for bankruptcy in peace... and full debt discharge. The counter of course will be whether anyone had put a gun to their head when they were taking out a loan. The counter to that counter will be that no students expected there would be zero jobs available upon graduation. And so on, in a tit for tat repeat of the housing bubble and the massive unexpected consequences as yet another $1 trillion bubble pops, which just like last time, will result in yet another broad taxpayer funded bailout, in which the all end up paying for the the few.
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You forgot to list the part about how the Democrat sponsored bill would include language setting up a new agency for praising Grandmas and Apple Pie and that it would require a $200,000,000,000 initial "investment".
Additionally you forgot to list the part about how the Democrats and Republicans would both be for it in the interest of 'national security' but for the small government republicans and pro-liberty democrats that put a stop to the bill.
(R) vs. (D) is long over. Welcome to (You) vs. (The State)
just for the same reasons the system is going to be in full on reset... not, in the long run a bad thing, but the short term = we're all fucked... maybe not the ZHers and others who are a few steps ahead... but, think about the gutted service econonmy and it's dependence on the ponzi... classic example-- remove all jobs, and you can't afford housing-- it gets propped up with loans, but when the bubble pops-- all affliated sectors suffered (think manufaturing jobs replaced by construction, then no construction and so on)...
SAME thing with the student loan bubble... no jobs, the kids can't pay; and what about all those university towns or affliated industries-- service or otherswise... they will get downsized... on another bubble... blame who you want, but the reality is that it (said bubble) will pop and cause damage... big damage... seeing politicians (retards) play games with it, just further confirms the need for the system to reset... they are CLUELESS while the serfs suffer... let them eat cake, yo...
Love how the same guys who probably owned bank stocks (when they were rising up like Jerry Sandusky at a Day Care Center) during the late 90s/early 2000s, while they were giving out these loans (for profit) to support the (mostly) college degree=good job scam............ are now the same guys (after they shorted said bank stock whose price was a fallacy to begin with) that tell these same young people to "pay their bills".
The problem ain't the borrowers.
Unlike in the mortgage crisis where they weren't the MAIN problem, but 30-40% of them were, due to the fact the American populace (that has the collective IQ of a flock of ducks), were stupid enough to actually believe a word George W Bush told them in that, "they too could afford the American Dream (home)".
*These* loans were PEDDLED TO THE PREVIOUS 2 GENERATIONS THAT A COLLEGE DEGREE WAS NEEDED TO EARN A GOOD LIVING.
The problem is the 99.99999% on the creditors. It's the corporate creditors that made having a college degree a requirement for "safe" corporate jobs (that may or may not provide benefits, and of which 20% of bachelor degree holders earn minimum wage).
When doctors are in debt, and can't pay the shit back.....that tells me the student loan bubble, was all planned. If this was just (overpriced) liberal arts degrees; this would be simpler to figure out, than it is now.
The student debt sector hits every profession.....that also means the ones we need to, you know, have a fuckin' productive society.
And it won't get bailed out; mark my words. The young, like always, will be blamed for this....even though we were stupid enough to believe it, and gullible enough to hold our end of the promise to pay them back....just as the older generation was dumb enough to accept the income tax.
What hilarious in the end is that you guys shit on the liberal arts majors.......yet all of you proudly play the whine violin now, after the fact.
#irony
The bankers were funding the loans at the behest of the government. Possibly they also did it with the hope that education would make the child smarter than the dumb ass parents. Then the bankers got screwed by the government and the dumbass parents bilked them on the mortgage. OH, and it was all the bankers' fault for believing that any of the family would ever repay anything.
The bankers were funding the loans at the behest of the government.
Repeating this lie will never make it true.
If we are going to subsidize student loans then it should be done in a way that doesnt disincentivize productivity in the small business sector
At some point my marginal propensity to tell the government to fuck off with their new taxes will exceed my marginal propensity to produce.
The more you tax my productivity the greater my desire to spend more time in nonproductive pursuits
I have to admit..what we are teaching them with the BAC principal reductions today...is "don´t pay your bills and you will get rewarded.".....unfortunatly..they will get rewarded....for their vote.....sad but true....A vote for obama is free money..for everything.....Healthcare...housing...education...food...incomes....cars even.....it has to stop.....it is terribly wrong to raise generations like this......its going to be a very tough life for them....all dependant on the Government
Oh no no no - it will be paradise for them. Just as "Julia". I mean, nothing says "strong, independent adult" quite like "requiring the assistance of Uncle Sugar (Daddy) at every single phase of your otherwise entirely doomed life", right?
If student loan interest rates spike, and students take on less loans to go to school, school will actually become cheaper for people who can almost afford it, and eventually might actually be so cheap that anyone will be able to afford to go to college.
;) The amount of students attending college has been artificially high, (a bubble) its going to go down and as such the price of school will follow in a downward trend, the smart people who saved up to pay for school will get a deal and maybe have some money left over, this is the best thing that could be done.... you dont want poor people going to school when they can't afford it, you want them to work their way up out of poverty so that the bulk of society (the poor and lower middle class) are productive, the entire reason for there being a high middle class - rich class is that those people in that class should be made up of people who spent a good portion of their working life building wealth for themselves and their family/friends..... you cant make rich people by educating the entire population and hiring them into jobs that don't produce any real net benefit to the economy.
Non-Productive jobs include
Lawyers
Accountants
Government, Political Jobs
Bankers/Bank employees
Traders
Brokers
These jobs just don't produce much of anything that could be seen as a true asset to the economy.
We need more Production / Productive / Factory/labor jobs.
-Construction
-Civil Engineers
-Scientists
Etc.... we have many many that are unemployed. . . and many people who would like to be educated in those fields but cant access debt or save enough (because of inflation and bailouts and student loans propping up the price of education) to go to school.
Free Market will eventually correct the student loan bubble, and cause a massive correction in the portion of the population attending college.... that is if govt lets it.
Apollo Group to zero.
The largest companies and financial institutions in the US get to borrow money for nothing on top of massive subsidies sucking the taxpayer dry. Then they turn around export the jobs overseas to make even more money resulting in few high paying jobs left AND THEN they suck the future taxpayers dry with massive interest on their educational debt and little job prospects for their adult career.
It's a damn shame, the youth need to all stand up, unify, organize and battle this before there is nothing left.
Why are you the only one out of 15 previous who gets how a system works? Seems too many focus on the particular and little on the entirety of it all.
Like it matters, it's not like young people vote anyway... or that elections matter anyway.
If the students haven't read Catch-22 by now, maybe it's a good time.
They can either have lower loan payments, but higher national debt eroding their future earnings
Or higher loan payments, and the national debt will be a little less eroding their future earnings a bit less.
What's it gonna be?
I have a low interest in congress and support a bill to block them
Funny how so many people on here shit on people going to college. Yes I understand too many do and get worthless degress and student loans are just stupid compared to how it used to be. But as a student I can tell you at my school UW Whitewater, not many have these usless liberal arts degrees. Yet again my generation gets no benefits while the older crowd continues to talk about government waste while electing politican after politician that borrowed my future away to pay for crap. Funny how my generation is mostly all Ron Paul supporters and that is only growing. Realize when we get older and have the control to elect ppl this waste will not continue nor will we feel bad canceling all of these entitlements. So yeah call us lazy and every other name in the book to feel better about your generations failures but we are left holding the bag, something we dont take lightly. Ill go back to getting my education while buying gold and silver maybe ill just start labeling all the older folks around here but my libertarian roots get me passed that bullshit. Cheers assholes(not all of you).
Yes you should be damn mad that our generation has voted to sell you into debt slaveery. You were born $85000 in debt and that's before student loans. Who are the arogant bastards that think they have a right to force you to pay for their decision to live beyond their means. I think the entitlement mentality of my generation is now comming up against two realities. First, that when "we" decide to help others through government what we are really doing is selling out fellow citizens, and particularly our children, into bondage. And, second, that depending on others for your prosperity is a double edged swoard because when others run out of money you are forced by that decision into austerity.
I believe your generation should default on Social Security and teach us a lesson. I have taught my children this. If folks spent evey dime they had, elected idiot politicians over the years, saved nothing, invested nothing and are still electing idiots they can all pool what little they have and go back to living in 60's style communes when they retire in thier sixtys/seventys/eightys.
Of course you could still pay through the nose, keep SSI and keep us smiling and singing your names while we vacation in exotic places around the world in our golden years. Your choice. I frankly see no other options.
I got a degree in engineering back in the 80's. I walked into my first day of work at a manufacturing plant and the United Steelworkers there made it real clear that my college degree didn't didn't mean anything. They assumed you were a pile of shit until you could prove otherwise. Today's generation is under the delusion they are not piles of crap and, unfortunately for them, their upbringing and education leave them unable to prove otherwise.
and who raised that generation you speak of?
When I graduated and first hired you were considered pretty much worthless as well by the old timers in the company. Unlike today there were experienced people at the company who were willing to teach you the ropes. Today those guys were laid off in a cost cutting measure and/or had their jobs shipped to the cheapest third world nation TPTB could find. Today's generation is fucked because the guy who was supposed to teach him the ropes is now making hamburgers for 7.60 an hour.
Don't take it personally, Pete.
These are just ranting old men, pissed off that their lives didn't work out they way they expected, and since they don't have the balls to do anything constructive about it, they bitch about you.
You may well be a worthless sack of shit, but it's not like that would stop you from becoming President someday.
Thanks bud I just hate when that shit gets on ZH
What is pretty funny about OBozo making all these speeches on student loan "deals" is that while a student was spending their four years in university, Obozo has stuck them with another $30,000 in additional liabilities that they don't know about. That is just the direct debt, not the increase in the unfunded Social Security aand Medicare costs.
While I totally agree that nobody put a gun to theri heads to make them take the loan. It's also wrong to engineer a system where the student looses their right to file for bankruptcy. Which is also why the government aught not to be lending directly to students, because it totally messes with the risk reward dynamic of lending and makes default problemtic.
GernB,
Thanks.However it is OK for mr free enterprizeI.e Donald trump or US airways to declare serial bankrupty,its not ok for the rest of the schepple.
Why would anyone ever make a $50,000 loan to someone with no assets and no experience repaying anything if they can simply walk away from it? That is called a Scholarship and it is obvious that most of the protesting folks don't qualify for that.
That's what co-signers are for.
zirp for all except the youngins! god damned loch ness monster!
http://www.youtube.com/watch?v=9cn7xfBpZ3M
May 7, 2012, 2:05 pm
California State Students Protest by Fastinghttp://thechoice.blogs.nytimes.com/2012/05/07/california-state-students-...
Are they protesting student loan rates or are they trying to help combat the obesity epidemic.
What's worth more? An iPad and iPhone... or an ivy league education and 200k of debt?
"When doctors are in debt, and can't pay the shit back.....that tells me the student loan bubble, was all planned."
I hire doctors and its hard to find one unemployed, often there is a reason for the unemployed doctors. You would not want to be treated by them. Your comment makes me think you must have one of those liberal arts degrees that were sold to folks like the proverbial brooklyn bridge.
If there was a truth in lending act that required colleges to detail the likelihood of grads to get jobs and sample pay scales based upon degree earned at that specific college and the total cost of that degree....eyes might be opened. The result of course would be a lot of liberal arts professors in the unemployment line rather quickly. Sooooo that aint gonna happen.
While are doctors in such debt, then? Because the health industry has more middle men than a porn set; they have to deal with insurers AND government dipping into their pockets, which results in them dipping more in *our* pockets when we need care.
I dropped out of college; after 2 years, I couldn't afford it (and refused to get a loan to do so). I'm in life black now, thanks to that decision (but obviously making low money).
It isn't an employment problem. There's work out there, for everybody, even for liberal arts students.
It's an income problem. No one has any money because the taxes on those making less than $60K is too high, and tax breaks given to both corporate entities *and* colleges (profit and "non"-profit), don't get reciprocated back into the balance sheets because the jobs they get after school...dadadada.....don't pay them shit.
I disagree. Costs went up because we let the schools, and the banks who make these loans, control the cost. The schools and universities set the price, the bank then reset that price higher based on fudged CPI and income numbers, and then make the loans.
And when you lets pigs at the trough, they'll eat everything.
Costs went up because the Federal Reserve has been printing money out of nothing, devaluing the currency, creating endless amout of cash to loan to students, rising the costs of living, and driving labor costs for teachers to go up.
The government has shown no balls in chalenging these assholes; a mention in the State of the Union address doesn't cut it, Mr. Obama. But Corporate America wants its serfs in debt, and with worthless pieces of paper called degrees to justify that debt.....and what Corporate America wants, Corporate America gets.
When you have University Dean* making 4-8x's his school's tuition, taking limos from place to place, spending $50K on a campus waterfall, on their way to meeting with a bank head to write a paper that will influence corporate legislation that allows deregulation on sub-prime derivitives that crashes our economy at the expense of a few autocrat bankers dickfaces...........but no on on either side of the isle, liberal or conservative, taking them on for doing so......that's a fucking problem.
*If you can guess who I am talking about, he was in the film, "Inside Job".
Just fueling the class warfare.
Instead of saying blocked bill due to requirement of higher taxes or money printing, the liberal media has to suggest that "Republicans hate students" with their emotional headline.
Great job there news organizations. Fair and balanced.
No interest loans are for banks and failures only! While your education may be as big of a sinkhole for the economy and drain on your finances as propping up a TBTF, you are not a bank.
LOL ! You cranky old bastard.
Low interest rate loans spur on the inflation for tuition. Just one of the many factors. I really dont have a solution for this problem either other than more cost efficient campuses/programs.
I think its a good time for Ron Paul to announce that he will move immediately to forgive all student loan obligations, along with all credit card debt and all home equity and reverse mortgage loans, and instead of abolishing the Fed just give them whole forgiven loan package to hold on their balance sheets for a hundred years of so.
Landslide write-in victory?
concur... I went from liking Paul to not kind of being meh/ whatever on him; BUT, more recently-- as I keep seeing him basically tell the establishment (Romney, Obama, and the FED)-- relentlessly to go fuck themselves)... repeatedly... and then to see the drones like Santorum, turn around and support Mitt... while R.P. is still posting wins and still telling the FED to go itself...
that kind of won me over...I don't agree will all his policies, but he is really the last chance; before we all implode together...However, we will be long be assassinated or further scandalized in the media before he would ever win the primary...
what I love the most-- is how he has the main streamers somewhat shaking in their boots...quite amusing...and R.P. would fix the student loan mess... it's very easy to fix without another bailout to the sallie mae's, etc...which, sallie mae will get just like fannie and freddie...and fiat US currency will further be debased into nothing-ness...
How does that buy the votes of the debt-free?
Boom! It all falls down. Anyone up for building the next real educational institution!
Read http://vermont.academia.edu/RobertSkiff/Papers/1296007/Blowing_the_Last_...
if you want to read about a potential way out of the problem. I suspect that a good number of colleges and universities are going to have a very difficult summer.
Really Tyler? You are posting and having us believe in the "objective" news of Reuters? Realllly? You don't even mention that the doubling of student loan rates was not only a democrat creation, but also forget to mention that these student loans are for all NEW LOANS yet you do not make this point. Sometimes, sometimes I wonder how objective you really are or are you just another HACK!!! The title of your compost ist "GOP blocks bill to extend low-interest student loans" but you don not metion the taxes involved with the "compromise" that the GOP are opposed to. I thought that there is no difference between the two parties but you are specifying single party fault and not examining the political game being played by Obuttfukk and the jackasses. I still appreciate this site but, sometimes, sometimes I really wonder.
And remember, Tyler's character in Fight Club was nothing more than an example of communism, collectivism. Don't believe me? When telling the other members of project mayhem were dilligently caring for their garden or their soap etc., etc., what was Tyler constantly repeating? "You are not special. You are not a beautiful or unique snowflake. You are the same decaying organic matter as everything else." Now you tell me if this is not the same thing that communist countries all try to achieve by giving us "fairness or equality." The only thing equal in communist/socialist countries is that we are all equally poor while the government confiscates your money vial taxes to ensure social and economic justice. It's not fair that you have a bigger house than your neighbor. It's not fair that you work harder than your neighbor. it's not fair that you used your talents to the best of your ability to become successful. It's not fair so someone has to take it and that would be government and those that desire more of it. He is an anarchist who wants to level the "playing field." Now where else have you heard the term level the playing field? Why none other then every single democrat,leftist, socialist, communist, progressive, and the so called leaders of the OWS. Go read their manifesto and it spells it out right there. Social and economic justice and blah blah blah blah blah. This site consistently supports OWS. Just how much exactly do you supprort hmmmm? Prove me wrong
Prove me wrong
One needn't prove what is so aptly demonstrated. Good Lord, man, you're at a computer!
The technology does not exist to make it any easier to string what you consider "thoughts" into some kind of coherent message, and you just can't pull it off.
Stick with graffiti, man. Take advantage of your artistic ability.
blunderdog- just what is so aptly demonstrated? please enlighten me. the character tyler is about anarchy because when one loses everything is one free to do anything. yes it is a movie and there is a message in that movie. that you can justify anything you do because you perceive it is for the greater good of society. yet the character is a hallucination brought on by seeing all of the corruption, in this case it was the insurance company who had a formula for a recall and if the cost was less then they don't do a recall which is outrageous. who lets them get away with that? the government. why do you think the bankers and MF'er Jon Corzine aren't sitting in jail right next to madoff? Because the government does nothing. Why is Chris Dodd, Barney Frank, Kent Conrad, democrats all and were responsible for the regulation of Fannie/Freddie, and Dodd on the Senate BANKING COMMITTEE who did nothing about cuntrywide and the SEC was warned about Madoff mutiple times and did nothing. if you let people get away with fraud then they will continue and they continued to allow it to happen. People in gov't do not have to let these people rape us, but because they get donations from them they look the other way. the only way the banks et al are allowed to use these derivatives,CDS, MBS, CDO, open market operations, and everything else is because the government does not allows these instruments to be implemented before they are means tested on how they function. So please you genius tell me what i am wrong about. tyler never responds let alone proves me wrong, ......and neither do you.
also- why do you think the rest of the world complains about capitalism? it gives YOU the ECONOMIC FREEDOM to better your life. Everyone else believes in a collective/socialist/communist/ progressive based system were the gov't gets to determine who gets a fair shot. just remember who created the fed and who it benefits, because it sure as shit doesn't benefit you and I. Remeber what this website is about yet Tyler continues to parrot an anti-republican/anti-conservative perspective without understanding that the principles of republicanism/conservatism is the free market, i.e. capitalism. where am i wrong??????????? Good God Man
Maybe I'm being too hard on you. Let's see if you agree with my summaries of these three posts. If you think these are fair summation, I'll tell you what I think.
Your first post is a request that "Tyler" focus more on partisan politics. You'd like to read more detail about the dickering between Republicans and Democrats here on Zerohedge. Is that a fair summary?
Your second post is an effort to call a fictional character in a movie a communist. Apparently you're concerned that there's some special relationship between that fictional character, the creators/publishers of this website, and life in communist countries. I see no way to know if you're right, so sure, maybe Tyler Durden in Fight Club really was a communist, and maybe that means the ZH "Tyler Durdens" are communists too. Hard to get inside a guy's brain, especially a guy who never existed. Do I follow your train of thought so far? Did I get the point from that one?
Now in your third attempt to communicate, maybe we're getting to your great insight that you're certain isn't wrong: there's a lot of corruption among high-level financiers and government officials. Is this correct?
Oh, you had more to say to yourself. OK, the fourth point is that...Tyler of ZH isn't a Republican, right?
lets see if you can understand this. My first post is about tyler to NOT focus on partisan politics because the title to his post lables the GOP as the ones at fault for the student loan issue, even though the democrats were the ones wrote the legislation. GOP were the onel trying to prevent that from happening yet Obuttfukk was making political hay that the GOP wanted the increase to happen.
My second post was to describe the mindset of people who espouse these views of greater good, level the playing field and political ideology of that thought process. remember the avatar of tyler is the character of the movie and the motto of the website is on a long enough timeiine the survival rate for everyone drops to zero. I'm only associating the ideology of the character and comparing the two and the behavior on this site. It becomes hard to tell if he believes in a free market/capitalistic society or is for a socialistic/ statist point of view. This site tries to point out the bs media in all its forms yet uses reuters as his only source for making the post that he did. is he just posting things to stir it up or does he have core principles?
My third post is yes that there is too much corruption in our government on both sides. my overall point regarding that is the GOP/ republican party is founded on the principles of limited gov't but have strayed from it. the democrats have always been about the government having control in your lives.
Fourth, i am ?ing tyler on his purpose of this site and his mission. is he for a top down command and control economy or is he for capitalism/free market that lets people succeed and FAIL when they do, not prop them up. His posts and belief of certain news outlets calls into question his validity of being objective and informed.
I only want the truth. The last thing we all want is to found out this site is as full of shit as the rest of the MSM who are political and only one way. why do you think OWS was heralded by the MSM and the Tea Party was labeled as a bunch of old white out of touch racists?
Give me the truth. Nothing more and nothiing less.
Truth is the most priceless commodity on earth.
OK. Here's what I think:
1) You can't write for shit. You throw too many words down without focusing FIRST on what it is you're trying to say. Before you click "post," you should be sure that there's one sentence which describes the overall point of the entire post.
2) "Tyler" here of ZH is a fictional character created as cover for multiple individuals posting items/articles. It is not "his" job to make his personal views known to you, nor is it any of your business what the personal views of any of the authors here are. Read it if you like it, don't if you don't, post your scribbles, whatever. "He" is running a pretty successful website despite your presence here.
3) No one gives one flying fuck at a rolling donut what your deep thoughts are on the philosophical problems plaguing the Republican party.
4) Read the disclosure policy of the website. It's all right there.
5) If you're asking for people to "give you the truth," you haven't got a chance of recognizing it. You can either go ask mom and dad, or take some responsibility for identifying it yourself. Given how infatuated you are with the concept, start sending me some money and I'll start sending you some truth. It's PRICELESS.
The first point i was making was the fact that tyler reports about the fraudulent unemployment numbers posted by the government. He goes into great detail to illustrate the fraud of the numbers as well as the bullshit about the budget and the EU and so forth. He breaks down his posts even handedly. But for some reason he never extends it into the ideological/philisophical context of the political realm. believe you me i understand that their really is no difference between the two party's these days, but they still have core principles that used to guide them, i.e. capitalism/free markets vs. collectivism/marxism/communism.
The post he gave did not call out what reuters reported without giving the same once over that he has on all other stories. He analyzes the student loan issue very well and then some, but when he posts something that identifies a political party as blocking low-interest loans for students, but does not go into detail to explain why then you have a problem. that clip from the reuters story specifically blames republicans for the gridlock without identifying the reason for the block. he could have very easily use a clip from another news outlet that disproves the reuters story but his headline specifically identifies the GOP rather than the background why and who is doubling the student loans.
Economics is political whether Tyler or you believe so or not. If you don't believe me then why is there such a huge debate to either go the austerity route or go full Keynesian which is like going full retard. Keynes method, which is a model for a government control of the economy, is what socialistic/communistic governments prefer rather than letting the market find true value through free markets which is what America was meant to be. Free individuals engaging in economic affairs to take care of themselves rather then having a govenment do it.
If you look at which ideology believes in proping up the stock market compared to those who want a correction without government internvention, i.e. TBTF, you should notice a certain and consistent political ideology that follows. Its capitalism vs. collectivism. Even fuckhead Bush who said he had to abandon the free market in order to save it shows the difference in ideologies. government should not be in the business of giving student loans or houses to people who could not pay them back.
The founding fathers of this country warned about central banks and the corrupting nature of them so much as to create a country with seperation of powers. Those powers have been eroded away due to political decissions that follow certain philosophies of government which has economic consequences.
If Tyler does not want to have people complain about his intentions then maybe he should just stick to the numbers on student loans and not post a headline that identifies political parties at fault and leave that to the guest posts.
As for Tyler the fictional character who uses it to post anonymously by mutiple individuals, do i not have the right to expect some consistency from the posters or do they all get to write whatever which leads to my original reason for slamming him, they, it. Don't you think others out here feel that the character would represent just a little resemblance of behavior. Just like the people who post comments with their avatars and names. It implies a attitude/style/behavior associated with that avatar. TD was a anarchist as well as espoused communistic rhetoric as i described so are we not to feel some sort of corrolation to it?
My "deep thoughts" about what's plaguing the republican party have to do with what is plaguing our country. And if you knew anything then you should know that the CONSTITUTION guarantees a REPUBLICAN form of government. Republican government is about representative government, but here in America it is about free market capitalism that is free from government command and control. Economic freedom is what gives you freedom period and when a government controls that then you are no longer free. Its called economic oppression/repression. That is why there is such an emphasis on the political from me and others. And seeing how this site discusses the economic fraud perpetrated everywhere by governments I would at least think that someone here would understand the philosophies and connect the fucking dots.
As for how you think about my writing, opinions are like assholes, YOU are/have one.
People come here to get unbridled truth about economic info, but to not delve into the political, and not realize the connection between the two is slightly ignorant. Truth in reporting/posting is essential for the battle we are in. If you want to reply go ahead, dazzle me. For all i know you could be a fucktard troll like MDB.
Now its time for a beer because us real 99% who wait tables for a living have to take time out of important beer consumption to explain the obvious to you. Maybe you should ask your mommy. but she can't right now cause my dick is in her mouth. she's just about done....for now!
You didn't read the disclosure policy, did you?
Sounds like you're ready to start your own blog. I won't be reading it, but it'll spare me the discouragement of watching you struggle here.
I have two thoughts about high tuitions. First off, Colleges want too much money for a sheep skin. Second off, Anyone that takes a fifty thousand dollar loan after 2008 is one stupid fucker that a college degree will not help.
It's funny to read all of this bitching about students being forced to pay back their debts, but our government continues to bail out large corporations. If we are going to bail out the one and burden us tax payers with the debt, why not bail out the other? Why do large corporations get our tax dollars, but individuals with student loans do not? Fascism is okay, but communism is not? Eff em' both! I'm against any bail out, be it corporate or individual, but at least recognize that we shouldn't be bailing out the one and not the other.
Full disclosure: I used grants, scholarships, student loans, employer $5250 contributions, and my own money to complete a technical degree. My student loan debt is currently around 12K, and I'm fine with paying it off.
You're a needle in a haystack amongst a bed of thorns. Shit is shit no matter who's shovelin' it.
We all realize the ultimate goal here too, right? The goal is to control college education the same way K-12 is now. College will be "free" and paid for by the government. It's the same old problem, reaction, solution of course.
the system implodes long before that ever happens (first, what money is there to pay for it with-- certainly, nothing of real value; middle class taxes? no, they are done)-- more printing-- worthless paper?
no... no way it gets to that; oh, the finance companies will take the bail out(s) to the student loan bubble-- but that's to secure their bonuses and such-- NOT to pay for education (not free education especially)...
Higher education will be eliminated, excluding nepotism... and 2) it is much easier to control the uneducated stupid masses with food stamps, then provide free higher education...
Let's see now, in the '90s it was the tech stock bubble, and lots of people got wiped out when it burst. In the '00s it was the mortgage loan bubble and lots of people got wiped out when it burst. Now it's the student loan bubble and lots of people will get wiped out when it bursts.
In the 20th centrury stock pump & dumps were how bankers grabbed people's wealth, and they did it several times.
In the 21st century it looks like debt pump & dumps is how bankers are grabbing people's wealth.
Lending isn't how bankers make money these days. Playing the markets is how bankers make money these days.
They don't make money when markets are stable. They make money when markets are moving up or down.
So they pump up a market, draw in a lot of suckers, making money on the way up, then get their shorts in place, dump the market, wiping out the suckers, making money on the way down.
It used to be stocks. Now it's debt securities.
Why? Because (a) stocks aren't doing so well in this collapsing economy, and (b) suckers don't have much money to buy stocks like they used to, again, due to this collapsing economy, and (c) because suckers don't have much money, they're borrowing more, making debt the better market play for bankers now.
Actually there's a 4th reason too. It's much more difficult to determine the true value of debt securities like MBS (mortgage backed securities) and now SLBS (student loan backed securities), because the average person can't look at the underlying fundamentals on a debt security (the loans backing that debt security), where they could look at the underlying fundamentals on a company.
So purchasers of debt securities must rely on what the the seller says, and they found out how sellers lie when the housing bubble and MBS market collapsed.
Oh yes, Wall Street successfully covered up all the fraud behind those debt securities, sold huge numbers of MBS to pension funds, governments, etc, then shorted MBS, dumped the housing market, and watched all those MBS holders get wiped out.
They're doing it again with student loans and student loan backed securties (SLBS).
Pump & dump is how bankers make the big money, way more than lending. And yes, Wall Street bankers are big enough to pump markets up then dump them, especially when they have the Fed helping them.
And some people never learn.
I really don't much like the fact that a bunch of academics get to live fat off the proceeds of kids' loans.
they can get in-line -- the unemployment line (or no unemployment line)-- just a line, soon enough (when those run out), right behind all the house/ real-estate flippers...
Someone needs to drive that Mercedes M-class to Whole Foods after 2 office hours a week
those waskally wepublicans
if only the dumb ass democrats would just cut that funding to women's health... congress is pretty much setting itself up to fall on it's face... either or party -- doesn't matter... can't wait to see this bubble pop and ruin all, but the most elite private universities...
ha... screw the youth, it's not like they will grow up and eventually burn the cities down or anything like that (Greece)...
You must be a guy. You probably also want to decide what a woman should do with her body.
sorry, insert SARC... basically, the joke is on the end game... point being-- you can screw over the up-coming generation(s) (i.e. the next generation of kids/ college kids, etc.) and trick, yes trick them with bad loans, but it will comes back around... eventually...
karma is bitch as they say... and reading the fine pine (or rather, gotcha-- you didn't read the fine print)... when student loans are being shoved down the throat of avg. people (like sub prime loans) is NO excuse... to keep hurting avg. people... in that book "Freakanomics," not saying it is all that great of a book; or 100 percent scientifically valid (for that matter), but I believe the author proposes a theory (in one of the chapters) that when in some country (Romania?) they outlawed abortions--
basically-- the theory goes that all those unwanted (now, born kids, once abortion was outlawd)-- where there was no resources to care of them, etc.-- they basically all grew up and murdered the govt. officials and caused a revolution... just like as noted, you CAN NOT give out these loans, and at the same time ship all the jobs to China...blood in the streets eventually... regardless of how many hollow point bullets the DHS, et al. buys... it all comes back around in the end...it always does
You mean the unborn baby's body, don't you?
no, I mean a womans body. And hey, that fertilized egg has a better chance growing up to be a democrap than a zealot like you. Think about it.
And I didn't down arrow you because I know you wear it as a badge of zealot honor and would find it as an excuse to go bomb a clinic.
High tuitions are just another way to extract wealth from people that have it, the parents. They either get the money from your retirement savings and or you consigning a loan(s). Many of the student loans have the parents as guarentors. It is a fucking crime if you ask me, the colleges and universities (and banks OF COURSE) are simply stealing retirement savings from the parents and putting kids in debt.
The students in Quebec (I think) just held massive protests because they were being asked to pay something like 365 a year for education! Their argument was the waste of the system is much more than the 365 so eliminate the waste (corruption, cronyism, etc). I think the schools backed off and the students actually won.
Having a kid come out of school 60-100k in debt, and higher is literally insance. They'll be strapped paying the debt for years and years! What will it take for us to take back the country from the banking scum? We are going to egt out chance pretty soon...
And I thought my $147 debt to my proctologist was bad... 60k-100k in debt? GOOD LORD.
And we all know where 'they' can stick they're Sallie Mae installments!
Students are SNAP providing auterity to bankers SNAP! The more SNAP! bankers, SNAP! hedge funder managers SNAP! and day traders SNAP! who get austerity provided to them by students, the better SNAP!
Of course the GOP is blocking this bill. I used to think that the GOP was the party of the rich, but now I realize I was looking through a glass darkly. The truth is that the GOP is the party of making the poor and non-rich suffer. The GOP loves to see people suffer if they are poor or powerless. That has become the real raison d'être for the GOP--not saying they were like that in the past, but that's the way they have been in the last 20 or 30 years. The party of inflicting suffering--on those who can not afford non-suffering. Not saying the democrats are any better, either, it's just that the GOP likes to see poor people suffer. They are less about defending the rich than they are about forcing the poor to suffer. Makes them feel warm and fuzzy inside, like every thing is as it should be--all's right with the world.
No, repubicans are only for the rich. Democraps are not much better but they will throw the Great Unwashed a bone now and then.
So an undischargeable debt carries a higher rate of interest than a no recourse homeloan.
Is it a cultural thing? Stomping on the vulnerable and naive?
This is as funny as anything, especially when reading many of the posts on this topic.
James Taranto has an interesting writeup in his WSJ column today.
Until, oh, a few hours ago, the Chronicle employed Naomi Schaefer Riley, author of two books on higher education, as a contributor to Brainstorm, its blog about "ideas, culture, and the arts." (We should note that Riley is a former editor at The Wall Street Journal and that her husband, Jason, is a member of the Journal's editorial board, as is this columnist.) Riley became an ex-contributor to the Chronicle because some ideas turned out to be too weak to withstand a brainstorm.
The brainstorm that set off a firestorm was Riley's April 30 blog post titled "The Most Persuasive Case for Eliminating Black Studies? Just Read the Dissertations." The Chronicle had published an article on "the young guns of black studies," as Riley put it, with an accompanying sidebar listing "some of the dissertations being offered by the best and the brightest of black-studies graduate students."
The brainstorm that set off a firestorm was Riley's April 30 blog post titled "The Most Persuasive Case for Eliminating Black Studies? Just Read the Dissertations." The Chronicle had published an article on "the young guns of black studies," as Riley put it, with an accompanying sidebar listing "some of the dissertations being offered by the best and the brightest of black-studies graduate students."
You really hate them niggers, doncha?
if everyone here is so pissed off at the financial system and the corrupt government that gives them a reacharound why are they making fun of the people protesting and actually doing something about it?
Repubican lemmings need to feel superior to someone so they dump on the "hippies", women, etc. A repubican cannot be seen agreeing with OWS. They hate the bankers and OWS. They would like OWS more if they stood in front of the White House to protest. They are two faced that way.
The #OWS protests are directed at getting more for nothing. When the pot of gold is not delivered the strategy is to destroy as much of the surrounding property to being everyone down to the same economic level as a #OWS bridge bomber. Generally these are people who made a whole lot of bad decisions and don't want to recognize the price to be paid for the errors. They have been told that they are so darned perfect that they cannot accept responsibility for the errors or even recognize the errors.
BTW, there are JOBS in North Dakota.
so 10 year, govt insured, nondischarable debt has a market rate of 6.8%????? keep if govt insured, nondischarable and its set by the fed at 3%; let if float, let if be discharable and keep out the govt and we'll see what students feel they should pay......FREE THE MARKETS!!
I don't know how it will end but I know several boomers that are paying their kids student loans.
Make the loans dischargeable gping forward so they disappear. No big deal. Price of school drops. Good for everyone. As far as existing debt goes. Too effin bad. We shouldn't reward stupidity. Our governmental clusterfks want everyone to own a house - stupid - and they want everyone to be college educated - another stupid idea. Both ideas are proof that idiots run the government.
Also,
The Truth Behind the Unemployment Numbers + Stimulus vs Austerity
Facebook Roadshow Presentation
S&P 500 timing system returns 289.81% over the past five years When to expect the next round of QENo sympathy for kids who take bullshit classes and spend more hours partying than studying. I dont care if the bankers own your ass and quadruple your rates just for fun...Pay Up Bitchez.
I graduated 2 years ago and I pay mine back on time. I took out 15k, but I actually make a good income with my degree. I took a risk and it paid off. It wont pay off for the majority of kids. Too bad. If you play the game and lose, you still gotta pay up.
If the government stops backing college loans then the unemployment rate is going to skyrocket. Millions of students will stop taking Rap Music Appreciation and head for the unemplyment lines.
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