Higher Education Financialism

Off the Keyboard of RE

Discuss this article at the Economics Table inside the Diner

In order to resolve the BALLOONING problem of Student Debt Default, TPTB are rewriting the laws regarding how Student Loans are to be paid back, and how long it takes to finally get your debt accumulated for learning worthless information wiped off the books.

Based on the latest set of revivions to the Student Loan laws, there is now absolutely ZERO reason not to take out the biggest loans you possibly can get guaranteed by Da Goobermint to go to school and drink beer and bang coeds for as long as you possibly can.

In one fell swoop this solves the problem of Youth Unemployment and further Money Creation thru irredeemable debt. Da Goobermint nor Private Industry can figure out how to provide decent jobs for HS Grads, so instead they will now offer further loans you don’t have to pay back if you don’t get a job upon Graduation, if in fact you actually ever Graduate.

You can go get your BA, your Masters, your Ph.D, your MBA, your JD…that works up to around 16 years in Academia! Just keep taking out more Loans! Evenif you only get a job flipping burgers at Mickey Ds at the end of it (all those sheepskins will be REQUIRED for applying for the job of flipping burgers), most you gotta pay every month is $100 for 20 years, then you are Free & Clear!

Is this stupid or what? Of course it is, just provide the damn education for FREE, it would be cheaper that way. LOL. It doesn’t put more fictitious money on the Bank Balance sheets though if you do it that way.

The Higher Education meme has been the fallback principle since the beginning of the Industrial Era.  Back when the FSofA first got settled, if you actually “schooled” past around 3rd Grade level and learned to Read and Write, that was a LOT.  Many if not most people were illiterate, but if they had a patch of land to farm they did OK and could feed themselves and family.

Industrialization though brought all sorta new “Jobs”for people to do, which took not just knowing how to read and write, but Industry Specific Knowledge, which most often was Science and Math related.  To get any of these Juicy Jobs, you hadda have quite a bit more than just knowing how to read and write and add sums.

So began the Warehousing and Sifting of the population through the High Schools, where in the early years you could learn Trades as well as Prepping for College and entry into the Upper Class, if you had the Brians to make the grade in such a track.  In my era, the College Track was a highly limited one, and in NYC sieved into a few schools like Stuyvesant and Bronx High School of Science. Overall, while Industrial Jobs were still available here in the FSofA, Warehousing through HS and teaching some trades in them worked pretty good.

Come the Late 70s early 80s though, those good paying jobs on the production line of GM began getting offshored to Asia, so now EVEYBODY in HS hadda go on the “College Track” for a good paying job in IT, except of course first off you only need so many drone programmers and second off plenty-o-Chindians are capable of writing decent code also.  The Capital flows toward any area the Labor is Cheapest, always in a Globalized economy.

The only high paying jobs that cannot be offshored really are the Gate kept professions in Law and Medicine, basically high end service economy jobs.  So in the current economy, if you at least have smarts enough to make it thru a Nursing Program, you might still find a decent paying job.  Chindians can’t dress Bed Sores over an Internet Medical Help Line.

In the decaying Industrial Economy, the “Jobs” such as they were are rapidly going to the Great Beyond.  The excess population here in the FSofA is being encouraged to stay in school for ever longer periods of time in Warehousing, in theory learning great skills which will lead to High paying Jobs when they get out, but by the time they actually GRADUATE (if ever), those jobs won’t be there.

It is falling apart as  model already, and this latest Kludge is just a means to prevent the TBTF Banks from having to write down the student loans they currently hold on their books.  Right now, the fact that in 20 years an unpayable student loan will have to be written off doesn’t matter, they can trade the paper as though it actually has some real value.

For J6P here, or at least his kids, this is the Bailout you all have been waiting for.  Take the Loans, you’ll never have to pay them back.  It is IRREDEEMABLE DEBT.  Go to school, stay in school as long as you can.  Accumulate Sheepskins, ad as you accumulate, apply for some obs they qualify you for.  At some point in the process, perhaps you are one of the Lucky Ones who actually GETS a job the Sheepskin qualifies you for!  If not, no worries, the massive debt you accumulate here only has to be paid off on at $100/mo for the next 20 years if you manage to get a minimum wage job flipping burgers anyhow, and will be discharged after that.  sooner too if you get a Goobermint Job, only 10 years there!
It is all  just hilarious. Sadly, I probably can’t get any of the latest loans and will have to pay for my Nursing Ticket out of Pocket Change, but if you are broke right now and out of a job, APPLY TODAY to the University program of your choice and take out the Loans up the Ying-Yang!

Knarf plays the Doomer Blues

https://image.freepik.com/free-icon/musical-notes-symbols_318-29778.jpg

Support the Diner
Search the Diner
Surveys & Podcasts

NEW SURVEY

Renewable Energy

VISIT AND FOLLOW US ON DINER SOUNDCLOUD

" As a daily reader of all of the doomsday blogs, e.g. the Diner, Nature Bats Last, Zerohedge, Scribbler, etc… I must say that I most look forward to your “off the microphone” rants. Your analysis, insights, and conclusions are always logical, well supported, and clearly articulated – a trifecta not frequently achieved."- Joe D
Archives
Global Diners

View Full Diner Stats

Global Population Stats

Enter a Country Name for full Population & Demographic Statistics

Lake Mead Watch

http://si.wsj.net/public/resources/images/NA-BX686_LakeMe_G_20130816175615.jpg

loading

Inside the Diner

Quote from: azozeo on Today at 05:17:09 PMQuote from: RE on Today at 05:04:57 PMIMHO, it will be a Cold Day in HELL when El Tru...

Hello everyone, in this segment , client find himself as an observer/ creator being watching the earth ascension at this time

Quote from: RE on Today at 05:04:57 PMIMHO, it will be a Cold Day in HELL when El Trumpo resigns, for any reason.  It's not in his personality type.  We're les...

IMHO, it will be a Cold Day in HELL when El Trumpo resigns, for any reason.  It's not in his personality type.  We're less than a year away from the new election anyhow.  He's going to get be...

Recent Facebook Posts

Evacuation orders lifted after Palisades Fire leaves 2 injured and burns at least 40 acres in Los Angeles

The Los Angeles Fire Department ordered mandatory evacuations Monday as a fire ripped across a hillside in the affluent Pacific Palisades area,..

4 weeks ago

US troops pelted with rotten fruit and stones as they leave Syria – video

People have thrown rotten fruit and stones at US troops as they left Syria in armed vehicles, with one man appearing to shout: ‘You liars!’..

4 weeks ago

Corporate America's Second War With the Rule of Law

Corporate America’s Second War With the Rule of Law- Uber, Facebook, and Google are increasingly behaving like the law-flouting financial empires..

4 weeks ago

Photos from Rafael Nadal's Spanish wedding show a reception fit for tennis royalty

From Business Insider:

4 weeks ago

The best toothpaste for kids

From Business Insider:

4 weeks ago

Diner Twitter feed

Knarf’s Knewz

The mosque of the East Jerusalem neighbourhood of [...]

Prosecutors in Sweden have dropped an investigatio [...]

Quote from: K-Dog on Today at 01:26:02 AMQuote fro [...]

Diner Newz Feeds
  • Surly
  • Agelbert
  • Knarf
  • Golden Oxen
  • Frostbite Falls

Who they Are...[img]https://scontent.forf1-2.fna.f [...]

Doomstead Diner Daily November 19The Diner Daily i [...]

[img]https://scontent.forf1-1.fna.fbcdn.net/v/t1.0 [...]

Quote from: UnhingedBecauseLucid on March 18, 2019 [...]

CleanTechnicaSupport CleanTechnica’s work via dona [...]

QuoteThe FACT that the current incredibly STUPID e [...]

The mosque of the East Jerusalem neighbourhood of [...]

Prosecutors in Sweden have dropped an investigatio [...]

Quote from: K-Dog on Today at 01:26:02 AMQuote fro [...]

Scientists have unlocked the power of gold atoms b [...]

Quote from: azozeo on August 14, 2019, 10:41:33 AM [...]

Wisconsin Bill Would Remove Barrier to Using Gold, [...]

Under extreme conditions, gold rearranges its atom [...]

The cost of gold futures on the Comex exchange inc [...]

Time for another Bloody Mary!   RE [...]

Kicking off with the death of the Marlboro Man.RE[ [...]

Alternate Perspectives
  • Two Ice Floes
  • Jumping Jack Flash
  • From Filmers to Farmers

Politicians’ Privilege By Cognitive Dissonance     Imagine for a moment you work for a small or medi [...]

Shaking the August Stick By Cognitive Dissonance     Sometime towards the end of the third or fourth [...]

Empire in Decline - Propaganda and the American Myth By Cognitive Dissonance     “Oh, what a tangled [...]

Meanderings By Cognitive Dissonance     Tis the Season Silly season is upon us. And I, for one, welc [...]

The Brainwashing of a Nation by Daniel Greenfield via Sultan Knish blog Image by ElisaRiva from Pixa [...]

Event Update For 2019-11-17http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

Event Update For 2019-11-16http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

Event Update For 2019-11-15http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

Event Update For 2019-11-14http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

Event Update For 2019-11-13http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

With fusion energy perpetually 20 years away we now also perpetually have [fill in the blank] years [...]

My mea culpa for having inadvertently neglected FF2F for so long, and an update on the upcoming post [...]

NYC plans to undertake the swindle of the civilisation by suing the companies that have enabled it t [...]

MbS, the personification of the age-old pre-revolutionary scenario in which an expiring regime attem [...]

Daily Doom Photo

man-watching-tv

Sustainability
  • Peak Surfer
  • SUN
  • Transition Voice

Waterboarding Flounder"Serious oxygen loss between 100 and 600-meter depths is expected to cover 59–80% of the ocean [...]

Of Warnings and their Ripple Effects"We need wooden ships, char-crete buildings, bamboo bicycles, moringa furniture, and hemp cloth [...]

"Restoring normal whale activity to the oceans would capture the CO2 equivalent of 2 billion tr [...]

Ukrainian Rhapsody"Our future will be more about artificial intelligence, cybersecurity, and non-state actors tha [...]

LeBron’s Chinese Troll Mobs"In the 36 hours after James’ delete, a troll mob with bot support sent a flame tsunami at the [...]

The folks at Windward have been doing great work at living sustainably for many years now.  Part of [...]

 The Daily SUN☼ Building a Better Tomorrow by Sustaining Universal Needs April 3, 2017 Powering Down [...]

Off the keyboard of Bob Montgomery Follow us on Twitter @doomstead666 Friend us on Facebook Publishe [...]

Visit SUN on Facebook Here [...]

What extinction crisis? Believe it or not, there are still climate science deniers out there. And th [...]

My new book, Abolish Oil Now, will talk about why the climate movement has failed and what we can do [...]

A new climate protest movement out of the UK has taken Europe by storm and made governments sit down [...]

The success of Apollo 11 flipped the American public from skeptics to fans. The climate movement nee [...]

Today's movement to abolish fossil fuels can learn from two different paths that the British an [...]

Top Commentariats
  • Our Finite World
  • Economic Undertow

Egypt runs seriously short of water just as their pop gets towards 150m Bob Geldof organizes another [...]

The point is that if we want to deal with energy issues, we have to deal with wealth. Don, that [...]

Entropy and steroids will get us all in the end. https://pics.me.me/then-ill-be-back-now-oh-my-back- [...]

Perhaps more clarity... Somebody recently produced a graph of energy consumption on the globe. But i [...]

Yep, it is not a problem, but a predicament---- The issues we are discussing here are not even in th [...]

For those safe from the rising seas, the ocean acidification will fcuk you up instead [...]

Here's an article: https://www.reuters.com/article/us-imo-shipping-factbox/factbox-imo-2020-a-m [...]

What is the shift away from bunker fuels? [...]

Yeah, when the water heater goes out the day after you just put new tires on one of the cars, etc... [...]

I join the chorus in welcoming you back. Any thoughts on how the shift away from bunker fuel on Janu [...]

RE Economics

Going Cashless

Off the keyboard of RE Follow us on Twitter @doomstead666...

Simplifying the Final Countdown

Off the keyboard of RE Follow us on Twitter @doomstead666...

Bond Market Collapse and the Banning of Cash

Off the microphone of RE Follow us on Twitter @doomstead666...

Do Central Bankers Recognize there is NO GROWTH?

Discuss this article @ the ECONOMICS TABLE inside the...

Singularity of the Dollar

Off the Keyboard of RE Follow us on Twitter @doomstead666...

Kurrency Kollapse: To Print or Not To Print?

Off the microphone of RE Follow us on Twitter @doomstead666...

SWISSIE CAPITULATION!

Off the microphone of RE Follow us on Twitter @doomstead666...

Of Heat Sinks & Debt Sinks: A Thermodynamic View of Money

Off the keyboard of RE Follow us on Twitter @doomstead666...

Merry Doomy Christmas

Off the keyboard of RE Follow us on Twitter @doomstead666...

Peak Customers: The Final Liquidation Sale

Off the keyboard of RE Follow us on Twitter @doomstead666...

Collapse Fiction
Useful Links
Technical Journals

The effect of urbanization on microclimatic conditions is known as “urban heat islands”. [...]

Forecasting extreme precipitations is one of the main priorities of hydrology in Latin America and t [...]

The objective of this work is the development of an automated and objective identification scheme of [...]

Follow on our http://www.doomsteaddiner.net/forum/