Americans owed $904B in student loans at the end of Q1, nearly 8% higher Y/Y, with 8.7% of the...

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Papaswamp Comments (2114)
 
Says it all:
http://bit.ly/xwW6Uo
31 May 2012, 06:49 PM Reply Like

The Geoffster Comments (3698)
 
Nothing new here. Gov't guarantees of student debt are part of Obamacare. Obama thinks he can crash the system and usher in a socialist utopia. I'm betting we get a general and right wing fascism
31 May 2012, 06:50 PM Reply Like

klarsolo Comments (683)
 
Another person who has turned off his brain a long long time ago
31 May 2012, 06:54 PM Reply Like

Papaswamp Comments (2114)
 
Obama is just a figurehead...just like Bush...they don't run the show.
31 May 2012, 06:56 PM Reply Like

The Geoffster Comments (3698)
 
Let me guess, the Bilderberg Group?
31 May 2012, 06:59 PM Reply Like

Papaswamp Comments (2114)
 
Don't think it is any named group...simply look behind the scenes...same political movers and shakers, same bankers, same political backers. It's not a dictatorship....taxation and spending all originates from congress....some of which have been in place for decades. An ignorant and apathetic electorate is mostly to blame.
31 May 2012, 08:27 PM Reply Like

davidingeorgia Comments (2690)
 
I'd feel a lot more sympathy for the ones stuck with all that debt if 1) they showed some anger at the colleges charging them ridiculous amounts of money for degrees that often aren't worth the paper they're printed on (at least, worthless as far as getting a job is concerned) and 2) if they hadn't been dumb enough to agree to take on all that debt themselves in the first place. So far as I know, college recruiters don't bring guns to interviews and hold it to the heads of applicants or their parents to make them sign their fiscal life away.
31 May 2012, 08:21 PM Reply Like

Papaswamp Comments (2114)
 
No but just like housing is a great investment..they are told, only with a college degree can one succeed.

I agree with you...no degree is worth $50,000 a year....but the people have been 'brainwashed' that it is.
BUT I think there is a serious concerted effort to make the US workforce cheap via low wage workers in order to compete...Unfortunately inflation is also pursued. This is the policy that makes slaves.
"Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves." - Norm Franz

I must be a Gentleman peasant since I'm a huge fan of silver and barter.
31 May 2012, 08:43 PM Reply Like

klarsolo Comments (683)
 
The funny thing is how for some people everything that goes wrong is always because of some shadowy group grasping for power or money. It is never just a case of simple psychology, herd behavior and/or misguided incentives. Noooo, it's always some Dr. Evil somewhere pulling the strings.
31 May 2012, 09:33 PM Reply Like

Papaswamp Comments (2114)
 
@kl...it's not some 'evil' group...it is merely a mentality. that the only way to make the US competitive is to cheapen the cost of the workforce. Look at employment participation rate of those 25 and older with less than a HS degree vs those with a bachelors or higher. THe trends are opposites.
Less than HS:
http://bit.ly/wZBr69
Bachelors+:
http://bit.ly/xwW6Uo

You tell me what is going on.....
31 May 2012, 10:34 PM Reply Like

klarsolo Comments (683)
 
Or you can do what Germany does, and just crank up the quality of your products instead of trying to cheapen your labor costs.
31 May 2012, 11:03 PM Reply Like

Papaswamp Comments (2114)
 
@Klarsolo,
Hard to do in the US. We have completely the wrong education model here. Instead we saddle kids with $100,000's of debt and expect them to get a job with a degree in (insert idiotic title) Studies. Few businesses have apprenticeships. The Germans turn out awesome things because the kids are trained in an area of job need.
1 Jun 2012, 06:55 AM Reply Like