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Name The Bubble

Tyler Durden's picture


As the title suggests, please name the latest bubble:

If you said student loans, you were correct. What is curious is that while virtually everyone has known about the student loan bubble in recent quarters, it is only for the past 3 that the Fed has actually started to disclose this data in its consumer loan excel spreadsheet (link - page 3). For historical data prior to 2011 we had to pull Bloomberg data (TDBCSTUD Index) going back to 1999. Perhaps the recent astronomical jump is why the Fed has been keeping a tight lip on this data... 

And for those to whom this is news, here are some thoughts on the matter from before.


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Mon, 02/27/2012 - 14:53 | 2201112 Ahmeexnal
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Mon, 02/27/2012 - 14:55 | 2201117 French Frog
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Mon, 02/27/2012 - 14:57 | 2201130 Ahmeexnal
Ahmeexnal's picture

But you MUST be part of the bubble.
A PhD will INSTANTLY get you a job as CEO of something!
A Ferrari in the garage. A supermodel trophy wife. A 16 room McMansion. Your name in the Hall of Fame.
Keep your face buried in them books slaves!
Don't raise your heads! We don't want you to see the world around you burning!

Mon, 02/27/2012 - 15:02 | 2201163 DogSlime
DogSlime's picture

Nothing especially wrong with books.

Books can encourage people to think.

Better than sitting in front of wall-to-wall "reality" TV/MSM propaganda broadcasts, surely?

Mon, 02/27/2012 - 15:04 | 2201173 Ahmeexnal
Ahmeexnal's picture

Not when those books are part of the indoctrination of the police state controlled education racket.

Mon, 02/27/2012 - 15:17 | 2201227 redpill
redpill's picture

OT: Anon says they are going after GS on Twitter...


Goldman Sachs: Expect us. Today. via  


Mon, 02/27/2012 - 15:18 | 2201246 MillionDollarBonus_
MillionDollarBonus_'s picture


Here we go again. Another libertarian rant about a noble virtue like education. It is my personal theory that redneck libertarians are hostile toward education because educated and enlightened liberals almost always reject their crazy ideas about free market economics. The more educated people are, the more they will understand the need for higher taxes, tighter regulations and more government oversight of greedy profiteers. THIS is what libertarians are terrified of. 


Mon, 02/27/2012 - 15:20 | 2201259 fuu
fuu's picture

You're starting to sound like Max Fischer Rex Culus.

Mon, 02/27/2012 - 15:37 | 2201334 francis_sawyer
francis_sawyer's picture

Max Fischer is a legitimate douche... MDB is more like 'Morgana the kissing bandit'

Mon, 02/27/2012 - 15:52 | 2201385 TruthInSunshine
TruthInSunshine's picture

Are we sure that The Bernank isn't really a Phoenix?

Education Connection Commercial Jingle - YouTube


Mon, 02/27/2012 - 16:13 | 2201448 withnmeans
withnmeans's picture

Its the U.S. welfare usage chart

Mon, 02/27/2012 - 16:56 | 2201583 spiral_eyes
spiral_eyes's picture

wealth effect, bitches.

Mon, 02/27/2012 - 18:31 | 2201956 fourchan
fourchan's picture

the hubba bubble, the mother of all bubbles.

Mon, 02/27/2012 - 19:27 | 2202068 Xkwisetly Paneful
Xkwisetly Paneful's picture

Good thing this is not tampering the purchasing power of the avg college grad to buy houses or anything else for that matter.

Mon, 02/27/2012 - 19:52 | 2202123 trav7777
trav7777's picture

Is is Silver?

Tue, 02/28/2012 - 05:58 | 2203085 Harlequin001
Harlequin001's picture

We're going to have a lot of very brainy people...

Mon, 02/27/2012 - 17:53 | 2201842 CClarity
CClarity's picture

Aren't bubbles something many believe in at the time and want to be part of?  Education and student loans could be it . . . but how about social media?

Mon, 02/27/2012 - 22:44 | 2202481 economics1996
economics1996's picture

Education is propaganda supporting the government class and elites.  Ninety percent of the students are too stupid to figure it out.  A few question but most are just hoping to be in the elite oppressor classes that have good vacations, light work, and big paychecks.

Mon, 02/27/2012 - 18:12 | 2201905 buckethead
buckethead's picture

Currency bubble.

Mon, 02/27/2012 - 15:21 | 2201260 _ConanTheLibert...
_ConanTheLibertarian_'s picture

haha, this is one of your better onces.

Mon, 02/27/2012 - 15:26 | 2201284 Michael
Michael's picture

I'm OK with forgiving all student loan debt in bankruptcy and not issuing anymore. Education in the USA sucks anyway.

Mon, 02/27/2012 - 15:28 | 2201294 clones2
clones2's picture

Fairly misleading when you are using data from different sources in the same chart...

Post and Pre 2011....  That would explain the jump in debt... ie... Bloomberg was using incorrect data...  Perhaps there is no bubble...

Mon, 02/27/2012 - 15:37 | 2201333 gtb
gtb's picture

I paid back my loans.  I'd be pissed if others' loans were forgiven.

How many different ways do you want to make responsible people suckers?  

Mon, 02/27/2012 - 15:43 | 2201359 Crumbles
Crumbles's picture

Must be 50 ways to make a sucker ...

Apologies, Paul.

Mon, 02/27/2012 - 16:47 | 2201564 LowProfile
LowProfile's picture

Debts that can't be paid won't, so be prepared to be pissed.

Mon, 02/27/2012 - 17:02 | 2201605 Irene
Irene's picture

gtb, if you've already paid back your student loans they were probably pretty small and probably from decade(s) ago.  Today's kids owe something else altogether, think $100k-ish.  Not at all comparable.  Consider yourself lucky that you were in school when education was still reasonably priced.  Rather than getting pissed at these kids, be pissed at the adults who made this mess.

Mon, 02/27/2012 - 17:22 | 2201688 traderjoe
traderjoe's picture

Here, here. Jubilee from the fractional reserve counterfeiting debt.

Mon, 02/27/2012 - 19:54 | 2202130 Oleander
Oleander's picture

If you do not make the payments the gov't will just take your tax refund. Why bother with those monthly coupons when the work is done for you every year by the gov't.  Sure my loans were less but I also chose to attend a cheaper, lesser known State College.  I have friends who went to Harvard and they are no better off than I.  Parents should not be encouraging thier children to get into the Ivy Leagues just so they can brag about Jonny going to MIT. 

Mon, 02/27/2012 - 20:53 | 2202266 UP Forester
UP Forester's picture

What the gubmint is doing, is trying to force those with college loans to "volunteer" for the Army to get the Loan Repayment Program.

I did it, took 3 years, didn't get a W-2 for the first year and hit with back-taxes (on the repayment, considered income) while I was in Bosnia.

I'm just glad I got out before being sent to a depleted uranium-soaked country (they tried), or go for the Officer route (and able to be recalled until you die)....

Mon, 02/27/2012 - 20:18 | 2202197 laomei
laomei's picture

If you actually paid them back in full, you are a sucker and honestly deserve what you get.  Take that education and use it as a golden ticket out of the country and never look back.  Eventually, one day, many years later, you might get a phone call from some 8th-string collector working for SLM who wants to make a deal.  That $80k you borrowed is now $400k on paper... but you are gonna make them settle it all for $10k, and they'll take it, because you make it clear that's all they will ever get and it's now or never, final offer.  They can't garnish, there are no tax refunds to seize, and they have zero jurisdiction of any kind in the country you live in now.  Then you go back to whatever you were doing and laugh about it.

Just be sure to get all the paperwork backing up the settlement and be sure to force them to have a board member sign off on it with a real, notarized signature... make that shit iron-clad.  You also want the negative tradelines deleted.  Their choice, $10k now, or nothing ever because you literally do not have to care

In the meantime, be sure to let the IRS know how poor and insolvent you are, so that $390k "profit" incurs no taxes.


And that's how you get a decent college degree for $10k.... in fact that's just about the only way anymore.  

Mon, 02/27/2012 - 17:45 | 2201792 ChrisFromMorningside
ChrisFromMorningside's picture

They can't be paid back. The numbers just aren't there. How can someone with no income and very weak future job prospects pay back a six-figure debt? That's the situation a lot of graduates find themselves in. It's just not going to happen. Realistically, the question is whether we're going to try and paper over this with more financial shenanigans and allow it to be a drain on an entire generation, with a bunch of wealth going into a financial black hole of bad debts, or whether we will pull an Iceland and liquidate the debt and allow everyone to move on.

I'm much more inclined to let students off the hook than I am individuals who purchased outrageous McMansions that they could never afford. Students were, on the whole, misled by the adult generation that was in charge of "guiding" them. However misguided, their intentions were far more noble than those who just wanted to splurge and buy up "goodies" that they couldn't afford. We need to radically reform education and the way we finance education but I don't think we should sacrifice an entire generation of young people to perpetual debt slavery just so that corrupt college institutions and banks can continue to reap their profits.

Mon, 02/27/2012 - 18:21 | 2201918 Yardstick of Ci...
Yardstick of Civilization's picture

Amen. They just can't be paid back. It's not mathematically possible.

More inclined to let students off, because they are being "sold" hope for a decent furture. Who doens't want that? Forget the people with McMansions and forget Goldman Sachs--the biggest recipients of bailout money.

Mon, 02/27/2012 - 19:53 | 2202126 Bob Sacamano
Bob Sacamano's picture

Not buying the misled / everyone a victim mantra (albeit it is very in vogue), but propose new rule:  No student loans to any student without parent guarantee for anyone under 21.  That might slow down student loan growth a little.   

Mon, 02/27/2012 - 20:00 | 2202143 trav7777
trav7777's picture

uh no.  Far more than half of the "students" have no fucking business being there.  They are wasting money to have effectively an extended party.

They graduate with degrees in "African American Studies" so they can tell us how idiots like Jose Hustle go on Youtube to brag about how they "been had polo" and that this is a "feature" of "African American English" and part of the oral tradition of black people making utter idiots out of themselves.  Well, they don't characterize it like that, they praise this materialism and braggodocio instead of calling it the buffoonery that it is.  And all because they "studied" for four years how awesome black people like themselves really are.

They are wastefully employing tons of useless idiots to teach them useless shit.  They really OUGHT to be taking out loans to pay for some smart kid's engineering education as that latter kid is the only one of them that will ever be even vaguely productive.

The kids who studied this shit are stupid.  They should pay.  Kids who studied STEM should get welfare.  For a fucking change, let's let the people who CREATE EVERYTHING have some rewards instead of the goddamned leeches.

Mon, 02/27/2012 - 21:40 | 2202341 ChrisFromMorningside
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For many years, getting a useless liberal arts degree was pretty profitable and was seen as "productive" by society as large. Throughout much of the 90s and definitely from 2000-2008 or so, you could graduate from any relatively decent liberal arts college with a bullshit B.A. and get a $60,000 a year job somewhere (banks, non-profits, bullshit "startups," real estate, etc). Even more if you go to an Ivy. It was all fueled by central banker funny money but society at large not only condoned it but relished in it. Get a B.A. in "Business" or "Finance," go to Wall Street, make a $200,000 bonus your first year for doing something you don't even really understand ... that was the goal for millions of students due to an entire lifetime of indoctrination at school and from parents. I don't think young people should be held down for decades because they were unable to challenge the hegemonic worldview of their society at age 17. What does society gain by having this generation throw away a significant % of its income into Sallie Mae (the federal government) and a bunch of zombie banks?

Mon, 02/27/2012 - 18:44 | 2201859 dogbreath
dogbreath's picture

me too but twenty years later and a more realistic understanding of the system, student loans allow every person in the education food chain to demand more salary and bennies.  tenured profesors, can't fire them and they won't stop spewing their statist bullshit

Mon, 02/27/2012 - 20:01 | 2202146 trav7777
trav7777's picture

the payrolls of public universities are often publicly available.  Random campus cops make 150k.  Professors of some such shit get well over 200 in the Illinois system.

Mon, 02/27/2012 - 17:41 | 2201770 francis_sawyer
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Eh JEW cation... (there ~ fixed it)...

Mon, 02/27/2012 - 18:31 | 2201955 LongBallsShortBrains
LongBallsShortBrains's picture

It isn't education........ It's schooling!

Come get down , easy payments

Mon, 02/27/2012 - 19:30 | 2202073 Xkwisetly Paneful
Xkwisetly Paneful's picture

Of course you are because you are too ignorant to know the origination where doctors and lawyers used to summarily file for bankruptcy upon graduation.

You know, the usual culprits those evil elitist zionistas.

Mon, 02/27/2012 - 21:50 | 2202373 ChrisFromMorningside
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Law Schools often subsidize other graduate departments. A law school staff, books and facilities do not cost $55,000 per student, especially when you consider that the professors are often overpaid.

The Medical School system is heavily subsidized by Medicare and state governments.

The entire educational financial structure is deeply flawed and liable to fall apart if the U.S. actually undertakes any significant budget cutting or if the feds stop subsizing tuition. The smart schools will retool, the not-smart ones will fail (I foresee hundreds of smaller, regional colleges closing across the U.S.)

Mon, 02/27/2012 - 15:23 | 2201272 Bastiat
Bastiat's picture

Translation:  Education, Bitches!

Mon, 02/27/2012 - 15:23 | 2201273 Moneyswirth
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Lighten up Francis

Mon, 02/27/2012 - 15:23 | 2201274 JPM Hater001
JPM Hater001's picture

Yeah, those redneck ones are really embarrassing to us Green neck.  The orange are ok too but the yellow necks are the worst.  Of course I am a silver neck libertarian and I will still be standing long after reality has set in on that thinking.

You should be terrified...someday I'm going to buy you to amuse me.

Mon, 02/27/2012 - 15:29 | 2201299 dontgoforit
dontgoforit's picture

....different strokes for different folks, and so on and so on and dooby dooby dodah....(Sly & the Family Stone).

Mon, 02/27/2012 - 19:11 | 2202022 Encroaching Darkness
Encroaching Darkness's picture

Thing is, they all want to take you higher - until they fall off the cliff. Sort of like Sly Stone did, afterwards, living in a car somewhere in  CA - a poor result for a great artist.


Mon, 02/27/2012 - 15:27 | 2201292 mayhem_korner
mayhem_korner's picture

educated and enlightened liberals


Contradiction in terms.  Nice start to the week, tho', MDB.  I'll give it what Mr. Kotter gave Vinny Barbarino: an F-Plus.

Mon, 02/27/2012 - 15:31 | 2201306 SilverIsKing
SilverIsKing's picture

Because you support the inflationary monetary policies of the various central banks, I hereby rename you:



Mon, 02/27/2012 - 15:57 | 2201399 Shizzmoney
Shizzmoney's picture

And since the borrowers will be fully tapped out, and the lenders will plead ignorance, and control the regulators and administration any way, is there any doubt who will once again be forced to pay for this upcoming bail out? This is something that does not require a college degree to figure out.


Mon, 02/27/2012 - 18:38 | 2201972 LongBallsShortBrains
LongBallsShortBrains's picture

I'll take taxpayers for 24 trillion , Alex.

Mon, 02/27/2012 - 16:01 | 2201410 JohnG
JohnG's picture




I'm a born redneck in GA, and have two PHD's (nothing to do with economics...computers and mathematics).

I claim no political association; they're all assholes.

So there.

Mon, 02/27/2012 - 16:27 | 2201486 ClassicalLib17
ClassicalLib17's picture

Beautiful, MDB,  I always look forward to reading your posts, although, lately you have been a little off your game.  You are best when you hit and run.  Make one comment and let the rest of us savor your prose.  Don't linger because you end up ruining your initial comment.

Mon, 02/27/2012 - 16:29 | 2201491 njrod
njrod's picture

Redneck Libertarians?  hardly...most rednecks are in the fashion of conservatism; from my perspective, as an "uneducated" Chicano (Mexican American, who failed to be indoctrinated into the "system" ).



Mon, 02/27/2012 - 17:05 | 2201613 Moe Howard
Moe Howard's picture

Conform, dammit! Please?

Mon, 02/27/2012 - 16:58 | 2201588 AbelCatalyst
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@MDB:  Libertarians are afraid of an overzealous government hell bent on centrally planning our way into the worst depression the world has ever seen...  You really believe this unprecedented level of debt is just going away?  We have not seen an actual free market since the FED was created and the Gold Standard was dropped.  The only regulations that count:  Back on gold standard, balanced budget amendment (do you think we would have invaded Iraq if the american people actually had to PAY for it via higher taxes??), and either simple flat tax or simple consumption tax.  Get the government out of our lives and then watch what the free market can do... Until then, you are speaking for the central planners who have gotten us to where we are now...  

What you term "education" is simply an indoctrination into the Status Quo, Central Planning agenda...  Seriously, why do you think 99% of the higher education establishment is Liberal?  Is this a balanced eduation?  Is this how we want our youth to learn - only look at arguements through one lens?  Only listen to people who have the same point of view?  Only associate with people to whom we agree?  Most libertarians I know are fairly educated - in fact, I have not met any of these "redneck" libertarian types, but you may want to take a look at Detroit if you want to see the endgame of the policies you espouse.    

Tue, 02/28/2012 - 05:25 | 2203062 DrunkenMonkey
DrunkenMonkey's picture

"balanced budget amendment" - The solution to all our problems, right there.

Mon, 02/27/2012 - 18:10 | 2201894 Zymurguy
Zymurguy's picture

Never know whether to give that guy a thumbs up or down.  He's just so fooking funny, maybe I'll just give him the finger.

Mon, 02/27/2012 - 18:15 | 2201907 Yardstick of Ci...
Yardstick of Civilization's picture

Education is one thing . . . cramming it down the throats of citizens of this country with a very expensive price tag, as if we're rasing foi gras, is quite another. And if you don't think psychological manipulation on a mass scale is possible or real, please have your head examined.

I'm very close friends with a single mother in a VERY low paying job--less than $20k per year. She has a four year degree that she paid for with student loans, and she did very well in school.  Unfortunately, we live in a world where she is simply unable to get a job as a teacher, since counties are "cutting back" across the board. So she took the job that she could get.

Just today I found out that her student loan provider intercepted her income tax refund--money she was counting on for survival, and you're telling me this system isn't rigged? Like she couldn't have found a $20k per year job without going to college? And we let Lehman fail so that the fear of collapse would allow Goldman to get paid hundreds of billions with taxpayer money, and real people are struggling to makes ends meet--real people that could have used that money to get an extra step on life.

The world we live in absolutely sucks. The people at the top are cared for, and everyone else is literally stepped on. MItt Romney should be in a fucking infinite tax bracket, as should anyone who makes more than $7 million per year.

$7 million per year is like WINNING THE FUCKING LOTTERY EVERY YEAR!!!!!!

Mon, 02/27/2012 - 18:31 | 2201953 Kali
Kali's picture

This is how revolutions start.  Everyone has "expunge-able" loans but the kids?  You squeeze every last drop out of them and think nothing will happen?  Eating our young.  Nice.

Mon, 02/27/2012 - 20:05 | 2202156 trav7777
trav7777's picture

so she's a teacher...SOMEONE has to pay so that fucking police officers and firemen can earn 200k to jack off all the time, so government workers can be paid to not show up and so we can have entire agencies staffed to the gills with black people for "diversity."

Your friend is one of the ones who pays.  Either GTF over it or join my side.  Repudiate all the stupid silly liberal shit you believe and accept the truth.

Mon, 02/27/2012 - 18:16 | 2201908 Yardstick of Ci...
Yardstick of Civilization's picture

Double post.

Mon, 02/27/2012 - 19:04 | 2202010 pcrs
pcrs's picture

'education' by the elite will indeed cause the serfs to understand better the need why the few must rule the many and why their wages need to be spend by their overlords.

Mon, 02/27/2012 - 22:45 | 2202483 economics1996
economics1996's picture

Education is propaganda supporting the government class and elites.  Ninety percent of the students are too stupid to figure it out.  A few question but most are just hoping to be in the elite oppressor classes that have good vacations, light work, and big paychecks.

Tue, 02/28/2012 - 01:30 | 2202809 collon88
collon88's picture

MDB...As of this writing, you have 98 red down arrows.  These morons on ZH still don't get your schtick. 

Mon, 02/27/2012 - 15:27 | 2201291 CPL
CPL's picture

These are just test runs to determine how the Algo's read twitter and other conventional news sources.  The twitter spambots are in place, we just need to find the keywords used to toss the information around and why it's used.


After the test runs Anonymous will be combing the usual sources to see who brags and blabs about how their toys stood up to Anonymous.


Then they'll get both barrels.

Mon, 02/27/2012 - 15:33 | 2201318 CPL
CPL's picture


Hmmm, the owner of the site was brought in for questioning.

Mon, 02/27/2012 - 17:17 | 2201668 bobola
bobola's picture

Anon took down the Greek Ministry of Justice website last week, and that site is still under construction;

Did the Greeks lay off their MOJ web master(s) under the new austerity program..???

Mon, 02/27/2012 - 15:20 | 2201258 TradingSIZE
TradingSIZE's picture

Yet, it is not a complete lack of "education" since you are learning about beliefs and how the majority of sheeple think within the system. Which is still in place...value depends on your viewpoint going through the process.

One could learn what other are being "Taught" and then learn what you need to do to play in the game. Or the more popular which is believing at surface level what your being taught in college is fact and that is the way things really are.

Depends on how you go through the process, I think it is important to get an education and knowing what others believe and are being taught is still very valuable...where people falter is thinking that is the only way.

Mon, 02/27/2012 - 15:34 | 2201321 MarcusLCrassus
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Just sign up for or audible and your choice of listening to thousands of books of your choosing.  Everybody ought to be taking advantage of this now that its available. 


The sum total of human knowledge available to us all at the click of a mouse.

Mon, 02/27/2012 - 19:27 | 2202066 prains
prains's picture

not everyone with a degree or two is a total dip shit, they come in all kinds of orange jumpsuits. 

Mon, 02/27/2012 - 15:04 | 2201176 Thomas
Thomas's picture

this bubble pays my salary; don't pop it!

Mon, 02/27/2012 - 15:06 | 2201191 GeneMarchbanks
GeneMarchbanks's picture


You just inadvertently echoed the entire moto of modern man.

Mon, 02/27/2012 - 15:12 | 2201222 Ahmeexnal
Ahmeexnal's picture

Yep. "Everyone else can fuck off and die, except me."

Mon, 02/27/2012 - 15:20 | 2201257 simone
simone's picture

You're so sweet and clever.

Mon, 02/27/2012 - 15:51 | 2201379 Biosci
Biosci's picture

I think you give too much credit to pre-modern man.

Mon, 02/27/2012 - 18:20 | 2201926 TheFourthStooge-ing
TheFourthStooge-ing's picture

Thomas said:

this bubble pays my salary; don't pop it!

This bubble also pays my salary. Nevertheless, it's a money hungry, wasteful behemoth, and I don't like what it's doing to my country. It's filling its victims with false hopes while chaining them to a lifetime of Sisyphean debt. The only winners are the credential mills themselves and, once again, the parasitic lenders.

Pop it? Fuck yeah!


Mon, 02/27/2012 - 20:14 | 2202184 trav7777
trav7777's picture

there's nothing you can do to stop it.  Take as much as you can without guilt.  Let the silverbugz and deflationists sit around and whine as they get left behind

Mon, 02/27/2012 - 15:09 | 2201205 mayhem_korner
mayhem_korner's picture

Books can encourage people to think.


That depends on which books they are.

Mon, 02/27/2012 - 15:26 | 2201289 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Or who the people are.

Mon, 02/27/2012 - 15:33 | 2201313 mayhem_korner
mayhem_korner's picture



...and, cmoe to tinhk aoubt it, whteehr tehy can raed.

Mon, 02/27/2012 - 15:39 | 2201342 francis_sawyer
francis_sawyer's picture

I see you went to Evelyn Wood...

Mon, 02/27/2012 - 16:04 | 2201425 mayhem_korner
mayhem_korner's picture



No, I read the label of a Vitamin Water - Focus.

Mon, 02/27/2012 - 17:44 | 2201790 francis_sawyer
francis_sawyer's picture

Is that what that says?

I thought it just said... "I pissed in this shit & am now selling to you for $3 a bottle"... Joke's on you...

Mon, 02/27/2012 - 19:24 | 2202058 mayhem_korner
mayhem_korner's picture



I've got 22 cases of 'em in my basement.  Can't wait to see what I can get for them when someone else "needs" 'em.  :D

Mon, 02/27/2012 - 19:26 | 2202064 francis_sawyer
francis_sawyer's picture

That's fine...

I've got a well under my property... I plan on 'giving' it away if anybody needs it...


Mon, 02/27/2012 - 20:19 | 2202202 mayhem_korner
mayhem_korner's picture



Me too.  And the independent power to pump it and filter it.  The V Waters are mostly for barter.

Looks like we'll both be around for a post-SHTF partay.  Joy.

Mon, 02/27/2012 - 15:46 | 2201360 deKevelioc
deKevelioc's picture

Now you tell me.  I was getting so smart watching Abby Joseph Cohen on CNBC telling me to buy stocks for a decade, now.

Mon, 02/27/2012 - 16:07 | 2201431 masterinchancery
masterinchancery's picture

You do not need to pay ridiculous college tuition in order to read books; in fact, it can interfere with real self education, since you usually have to pay attention to their pc requirements and give left wing faculty members obsequious obedience.   College is for collecting a piece of paper that you think will help you get a job, which in many cases it will not.  Currently, it usually turns into vacation at a very high price. Much cheaper just to go to Hawaii and read books or work on your skills on the internet.

Mon, 02/27/2012 - 16:29 | 2201492 Flakmeister
Flakmeister's picture

Yep... lots of PC requirements and left wingers...  <rolls eyes>

The elitists are slipping in Hegelian dialectics in that Materials Science course....

Fucking socialists ruinng the Calculus courses....

Why don't you go masturbate in the bathroom of the John Birch Society....


Mon, 02/27/2012 - 18:04 | 2201875 tmosley
tmosley's picture

How many unrelated humanities courses do you think engineers and mathematicians have to take?

More than one, by a lot.  And the requirements always seem to be one way--on the rise.  

Mon, 02/27/2012 - 18:15 | 2201910 NotApplicable
NotApplicable's picture

I remember thinking to myself, "What's all of this shit?" So, in an effort to avoid wasting time and money on brain-washing, I took the "rational" choice and learned all about the Cult of Keynes.

Mon, 02/27/2012 - 19:29 | 2202070 sleepingbeauty
sleepingbeauty's picture

My kid is in first year engineering and he has less humanities in his 4 year  degree than I did 20+ years ago. But I am in Canada, might be different.

Mon, 02/27/2012 - 21:05 | 2202288 NidStyles
NidStyles's picture

It's different. I burned two semesters both 15 credit hour/5 classes Semesters on that crap.

Mon, 02/27/2012 - 20:13 | 2202183 General Decline
General Decline's picture

I had my fill of useless humanities classes in engineering school. Most of the professors were dipshits at that level. I mostly ignored them and focused on my real classes.
Sidenote - one time in Thermodynamics II the Chinese professor gave us this exam that the whole class bombed. He expressed his disapointment to us and then as class was ending he rattled off something in his native language. Most of us got up to leave but all the aisian kids stayed seated. Thought that was a little odd. But I had to get to my next class. A few days later I found out he berated the aisian students a little extra saying that he would expect poor grades from us inferior races but they had no excuse to do so poorly. I never did figure out if he was a Democrat or Republican.

Mon, 02/27/2012 - 21:05 | 2202283 NidStyles
NidStyles's picture

Being an active Material's Science student I can tell you my first two Semesters were nothing but Humanities and bullshit classes that had no bearing on my core content. I hated the first two Semesters and honestly feel they wasted my fucking time just so they can claim that they "rounded out" my education.

You know because a Combat Veteran from 12 years of service that follows Libertarianism and Anarchism has a lot to learn about what the state says is good for him. Not that he would have experienced first hand how much the Government tends to fuck people over or anything.

Tue, 02/28/2012 - 00:39 | 2202717 Prometheus418
Prometheus418's picture

At lot, at the school I attended.  I went a different route, taking all the core credits for mathematics and engineering in two years, and then walking out.  Getting the degree would have required another two years of bullshit and nonsense.

It takes longer to get where you're going, but at least my loans were paid back long ago.

Mon, 02/27/2012 - 20:16 | 2202195 trav7777
trav7777's picture

are you stoned?

STEM is what, 5% of all degrees?  What you said is totally true about most of the rest.

JFC, wtf do you have to say about lesbian or womyn studies courses?

C'mon you must be capable of resisting the urge to reductio ad absurdum and commit logical fallacies so numerous even cliff would blush.

Mon, 02/27/2012 - 18:04 | 2201877 ChrisFromMorningside
ChrisFromMorningside's picture

If you have a strong, independent will then going to college can be amazing. It will test you and challenge you and if you can survive four years without being indoctrinated into The Herd, then you're off to a damn good start in life.

Mon, 02/27/2012 - 17:27 | 2201708 Loco Vida
Loco Vida's picture

anudder brick in the wall

Mon, 02/27/2012 - 15:04 | 2201181 Larry Dallas
Larry Dallas's picture

Ha! Reminds me of that poster that was sold in the mall poster shops in the '80s. "Justifcation for A Higher Education".



Mon, 02/27/2012 - 15:24 | 2201280 whatsinaname
whatsinaname's picture

Why the sudden jump starting March 11 ? Any guesses here ?

Hard to keep track of all these bubbles.

Mon, 02/27/2012 - 15:24 | 2201281 resurger
resurger's picture


a PHD will get you a job at the Federal Reserve!!!!!


you must be an Ivy League graduate & a Jew

I have masters degree, i will soon be selling Ice Cream & Baking Soda



Mon, 02/27/2012 - 15:40 | 2201348 Iwanttoknow
Iwanttoknow's picture

Nein.Nyet.Only an MBA.

Mon, 02/27/2012 - 15:40 | 2201350 francis_sawyer
francis_sawyer's picture

shit... I thought a PHD was a venereal disease... (& I fucking have one that I'm trying to get rid of)...

Mon, 02/27/2012 - 17:46 | 2201800 francis_sawyer
francis_sawyer's picture

I have masters degree, i will soon be selling Ice Cream & Baking Soda

...well at least you won't be unoriginal.

Mon, 02/27/2012 - 15:37 | 2201338 kaiserhoff
kaiserhoff's picture

So where's my Ferrari?  The trophy bitch was way too high maintenance, as was the McMansion, but shit Dude...

Haven't seen Buzz Saw lately.  Maybe he runn oft mit mein fucking Ferrari.  I wasn't even that paranoid until now...

Tin Hat,,, must get a tin hat...

Mon, 02/27/2012 - 18:47 | 2201951 vast-dom
vast-dom's picture

new textbook new ferrari smell high; puke a little drink it back up; there's no bonus in death grips of poison gas higher learning lower brain functioning because even if a poodle wins Westminister and the schmactor wins golden statuette for this or that chop the trophy bitch's head off best in show and the cattle gets auctioned off blue ribbon self-obsessed die narcissist OD you OD poke your little ass in the air with peacocks feathers sticking out because you can't care if you know and now you know so you can't care. hopium is whack suck yourself off the planet ain't payin it pay it back i won't pay it back catch a million plus me me mAbdul Rasul multImedia cryptologist don't know shit get free hack control dont discriminate most everyone needs to die.....

Mon, 02/27/2012 - 19:24 | 2202057 toxic8
toxic8's picture

"Hope clouds observation"


Mon, 02/27/2012 - 22:58 | 2202510 SoCalBusted
SoCalBusted's picture

Shit, I need to go back to school, amass huge student loan debt and then have the .gov create a program to forgive it.  Best part, there is no hard assets to repo, unless it is soylent green!

Mon, 02/27/2012 - 15:07 | 2201196 slaughterer
slaughterer's picture

A tough bubble to short because shorting it has become overcrowded ever since Steve Eisman let the cat out ofthe bag over a year ago. 

Mon, 02/27/2012 - 16:04 | 2201422 lineskis
lineskis's picture

Anyone knows if there's x3 levered ETF we can buy for this? =)

Mon, 02/27/2012 - 17:48 | 2201815 francis_sawyer
francis_sawyer's picture

...yeah ~ physical gold & silver

Mon, 02/27/2012 - 15:31 | 2201310 The trend is yo...
The trend is your friend's picture

BS    Bullshit

MS   More shit

PHD  Pile it Higher Damnit!

Mon, 02/27/2012 - 15:37 | 2201336 Silver Bug
Silver Bug's picture

Wow that is a disgusting debt level.

Mon, 02/27/2012 - 16:06 | 2201428 GenXer
GenXer's picture

Education is a bubble. A recent BLS survey found that

there are 5,057 janitors in the U.S. with Ph.D.’s, other doctorates, or professional degrees.

Over 317,000 waiters and waitresses have college degrees (over 8,000 of them have doctoral or professional degrees), along with over 80,000 bartenders, and over 18,000 parking lot attendants. All told, some 17,000,000 Americans with college degrees are doing jobs that the BLS says require less than the skill levels associated with a bachelor’s degree.

No one is telling these kids that a pipe fitter makes 3 times what a social worker does.

Mon, 02/27/2012 - 17:50 | 2201824 francis_sawyer
francis_sawyer's picture

The University of Phoenix is offering PhD courses in "custodial engineering"

Mon, 02/27/2012 - 19:13 | 2202029 krispkritter
krispkritter's picture

That's a BHD...Broom Handle Director. And only $28k!

Mon, 02/27/2012 - 18:11 | 2201904 ChrisFromMorningside
ChrisFromMorningside's picture

But being a pipe fitter means using your hands and possibly getting dirty and it's so not sexy. Try scoring with that 20 year old hottie in the bar when you tell her you're a plumber. Nope. We need a nation of "entrepeneurs." That sounds sexy.

Mon, 02/27/2012 - 18:33 | 2201958 GCT
GCT's picture

Most women these days prefer someone making money and could care less about the sexy.  Hell most prefer them working !

Mon, 02/27/2012 - 18:58 | 2202001 infinity8
infinity8's picture

If you're a fat, hairy 50 year old plumber hitting on 20 yr old hotties, it's not your profession that's the problem. Unless you refer to yourself as a "turd herder" maybe. One of my best friends is a plumber and he's rich with chicks.

Mon, 02/27/2012 - 19:11 | 2202021 infinity8
infinity8's picture

Smart college grads figure out that they can make more and keep more as a server or bartender and if they aren't outgoing enough for that, working as a school janitor is a county or state job with much better pay and benefits than some jackass cubicle job.

Also, I would like to see an age demographic breakdown for the surge because I know of WAY too many 40-somethings that did at least a 2 year program on loans (HVAC, nursing/medical related, etc.) after losing a good job in '07-'09 and being on unemployment for too long.

Mon, 02/27/2012 - 16:35 | 2201519 midtowng
midtowng's picture

It's all part of students staying in school because they know they can't get a job (plus colleges raising tuition).

Mon, 02/27/2012 - 17:23 | 2201693 putaipan
putaipan's picture

 indentured servatude !


Mon, 02/27/2012 - 19:12 | 2202026 algol_dog
algol_dog's picture

This arcticle tells it all - Read and weep ....

Mon, 02/27/2012 - 14:54 | 2201113 tsx500
tsx500's picture



Mon, 02/27/2012 - 15:01 | 2201157 battle axe
battle axe's picture


Mon, 02/27/2012 - 15:11 | 2201164 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

It is a bubble and that is a blow off top.  Unfortunately most people taking classes right now won't get past the introductary courses and the debt will not be paid since there are no jobs for anyone, especially in retail and labor, which is where most in CC have been employed for the last decade. 

The talk of WS the last year has been that this is the next bubble to pop.

Mon, 02/27/2012 - 18:36 | 2201961 ZeroSpread
ZeroSpread's picture

You do know that most good PhD programs PAY you to do research that actually can be used .. pretty much any pure, real, core engineering. The reason is the same as with almost everything: Supply and demand. Guess why there are more and more internationals in these jobs? Maybe because the current system does not favor doing a BS or MS that includes higher math, science & eng.. and there's no PhD without the former step (unless of course you buy it, not too uncommon, unfortunately).


There will always be jobs for those who do what only few can do. Supply and demand.

Mon, 02/27/2012 - 18:49 | 2201993 EuroSovietSerf
EuroSovietSerf's picture

Hmmmm... an unsustainable bubble...


Mon, 02/27/2012 - 14:54 | 2201116 mayhem_korner
mayhem_korner's picture



Epoch fail

Mon, 02/27/2012 - 14:55 | 2201118 X. Kurt OSis
X. Kurt OSis's picture

Oh oh!!

Greek 1 year yields!!

Mon, 02/27/2012 - 14:57 | 2201139 mayhem_korner
mayhem_korner's picture



Are you channeling your inner Arnold Horshack?

Mon, 02/27/2012 - 14:55 | 2201120 SilverTree
SilverTree's picture









Mon, 02/27/2012 - 15:00 | 2201156 grid-b-gone
grid-b-gone's picture

That's funny. HOPE credits.

Mon, 02/27/2012 - 15:04 | 2201179 SilverTree
SilverTree's picture

"Credits Will Do Fine"

Mon, 02/27/2012 - 14:55 | 2201121 mayhem_korner
mayhem_korner's picture



Do they still teach ROI in college?  Prolly not, but I'd like to see 'em do the calc on that abortion of a program.

Mon, 02/27/2012 - 15:21 | 2201263 JPM Hater001
JPM Hater001's picture

Socialism pays in favors, perks and programs so you are measuring the wrong ROI.

In that currency they are rich beyond their wildest dreams.

Mon, 02/27/2012 - 14:56 | 2201123 Lost Wages
Lost Wages's picture

My wife still has a student loan from a stint at a for-profit art school during her midlife crisis. Is there any chance Bernanke will print some money & pay it off for her?

Mon, 02/27/2012 - 14:59 | 2201149 Ahmeexnal
Ahmeexnal's picture

As her husband, half of that student loan debt is now yours.

Mon, 02/27/2012 - 17:53 | 2201836 francis_sawyer
francis_sawyer's picture

Maybe she can get a gig collaborating on the design of the $100 Trillion dollar FRN...

Mon, 02/27/2012 - 15:23 | 2201199 Bam_Man
Bam_Man's picture

I always wondered whether anyone ever actually signed up for that art school that advertised on matchbook covers.

Apparently your wife "passed" the free art test.

Passing the entrance exam was filling out the student loan form correctly.

Mon, 02/27/2012 - 15:30 | 2201307 WonderDawg
WonderDawg's picture

Like the guy who says, "My son got into DeVry!" And his friend says, "Great. What'd he have to do? Open the door?"

Mon, 02/27/2012 - 17:09 | 2201633 Moe Howard
Moe Howard's picture

Don't forget breathing. It's required.

Mon, 02/27/2012 - 14:56 | 2201124 jcaz
jcaz's picture

But Obama says everyone without a four-year degree is scum. so this chart is really flat....... 

Pay no attention to the man behind the curtain.....

Mon, 02/27/2012 - 15:17 | 2201245 mayhem_korner
mayhem_korner's picture

But Obama says everyone without a four-year degree is scum.


Curious perspective from someone without a verifiable transcript.

Mon, 02/27/2012 - 14:55 | 2201125 junkyardjack
junkyardjack's picture

Bullish on iPads.  College graduates will be living 18 people to a 1 bedroom apartment to pay off their loans, they'll need something to temporarily distract them from the pain that is their life.  iPads FTW

Mon, 02/27/2012 - 15:00 | 2201158 Ahmeexnal
Ahmeexnal's picture

Hookers and blow.

Mon, 02/27/2012 - 15:18 | 2201248 Steaming_Wookie_Doo
Steaming_Wookie_Doo's picture

Hah! Half of those folks rooming together will have to BE hookers to help pay off their inescapable debt.

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