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

Federal Judge Rules Nationwide Eviction Ban Is Unconstitutional[/b...

The Lincoln Project’s members’ fall from their perch of anti-Trumpist fame to political grifters sidestepping sexual predation in their midst has had the velocity of a super collider.The depth of the crater from the detonation may not be known for wee...

Technicians work on the stage before the start of the Conservative Political Action Conference in Orlando on Thursday, February 25.Republican politicians, medi...

Your gut houses billions of bacteria that help your body break down the food you eat and send it either into your bloodstream as nutrients or out of the body as waste. The gut microbiome keeps you alive and healthy, and as you choose foods, it shifts i...

Recent Facebook Posts

No recent Facebook posts to show

Diner Twitter feed

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

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

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

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

Quote from: K-Dog on February 24, 2020, 06:23:52 P [...]

I wonder how much these coins have been debased? [...]

Precious tip of the day.....Buy silver NOW  She [...]

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

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

I am OUT of Jury Service!  I got summoned to be a [...]

Quote from: Eddie on May 16, 2020, 10:30:30 AMQuot [...]

Quote from: RE on May 16, 2020, 08:20:06 AMQuote f [...]

Quote from: RE on May 16, 2020, 08:20:06 AMQuote f [...]

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

  Tyranny, Inc.   By Alexander Macris Contemplations on the Tree of Woe   What government wants to d [...]

Getting Out of Dodge By Cognitive Dissonance     Recently I received an email from a reader who aske [...]

Penalizing Prudence By Cognitive Dissonance     “Economy, prudence, and a simple life are the sure m [...]

Harvest at Chez Cog By Cognitive Dissonance   It became obvious to Mrs. Cog and I by early February [...]

  Perhaps a Crumble Rather Than a Collapse Chapter One By Cognitive Dissonance     “...we can endure [...]

Event Update For 2021-02-24http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.htmlThe [...]

Event Update For 2021-02-23http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.htmlThe [...]

Event Update For 2021-02-22http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.htmlThe [...]

Event Update For 2021-02-21http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.htmlThe [...]

Event Update For 2021-02-20http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.htmlThe [...]

In the meantime, industrialised chickens – and their viruses – have come home to roost in Victoria, [...]

Based on extensive scientific research, a fictional reminder that COVID-19 is but a mild pandemic – [...]

In other words, treat COVID-19 like a dry-run for the upcoming “big one” [...]

However don't expect strikes and yellow vests to fix underlying problems [...]

Daily Doom Photo

man-watching-tv

Sustainability
  • Peak Surfer
  • SUN
  • Transition Voice

 "What we need to do will cost less by one-third what we currently spend on fossil fuel subsidi [...]

"To reach a carbon footprint of net zero, we will need to cut the US pet population by some 10 [...]

"In 2020, federal protection for the gray wolf was removed entirely. Now the entire species tee [...]

"Capitalism is a system that centers capital and wealth. Socialism is a system that centers soc [...]

"Forbidden from attending the annual rites of football in facepaint and cheesehead-hats, frustr [...]

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 [...]

Camus didn't predict Covid, but he studied enough about pandemics throughout history to depict [...]

Sarah Chayes spent decades studying networks of corruption in the Third World. Now she's findin [...]

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 [...]

Top Commentariats
  • Our Finite World
  • Economic Undertow

In reply to Gail Tverberg. Yes, you would need to be part of a community with a diversity of skills, [...]

In reply to Fast Eddy. @fast eddy, I think it is because the flu variant they prepare the vaccine fo [...]

In reply to Rodster. @Rodster, The quote is fake: https://www.jstor.org/stable/42579187 [full articl [...]

In reply to Gail Tverberg. 3.1% is far more than enough to provide US defense needs in peacetime and [...]

In reply to Gail Tverberg. So Japan will use less uranium and more coal? [...]

Thanks for the repost. It would be a good idea to see more of these when you're not writing! [...]

The Bakken keeps extracting the oil. Year over year, about 100 more wells and 20% less production. I [...]

Ugh, time has gone by and I haven't checked in. I meant to add 'The End of the Megamachine [...]

If, as some claim, the cost of energy is heading to zero, why do we need to accumulate so much debt? [...]

In reply to ellenanderson. Well, I keep abreast of energy, economics, and Covid developments through [...]

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 core crop region of the Humid Pampa is one of the most productive agricultural lands around the [...]

A new model of an axially-symmetric stationary concentrated vortex for an inviscid incompressible fl [...]

Weather forecasting relies on the use of numerical weather prediction (NWP) models, whose resolution [...]

The building energy performance pattern is predicted to be shifted in the future due to climate chan [...]

Ae. (Stegomyia) aegypti L. and Aedes (Stegomyia) albopictus Skuse mosquitoes are major arboviral dis [...]

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