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

Louis Vuitton luxury hangbags sit after manufacture at the workshop in Beaulieu-sur-Layon, France.The U.S. is set to go after beauty and luxur...

4 days ago I parked my car and went inside. The next day it would not even turn over.    It is a 1997 Toyota Corolla with  180,000 miles. We bought it for $5 from a relative about 5 years ago. I really have liked this car. "Auto experts and owners ali...

 The record-setting heat wave that swept through Arctic Siberia in June has yielded a wide-range of deleterious effects in the expansive polar and sub-polar regi...

https://www.cbsnews.com/news/coronavirus-cases-united-states-record-daily-cases-shut-down/Parts of U.S. scramble to shut down as countr...

Recent Facebook Posts

No recent Facebook posts to show

Diner Twitter feed

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

I found this on a friend's Facebook page. It [...]

Doomstead Diner Daily July 11The Diner Daily is av [...]

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

The Flim-Flam Men by Cognitive Dissonance   I suspect if average Joe or Jane were asked to identify [...]

The Coming War With China Re-posted from CaitlinJohnstone.com   (Have you noticed that (suddenly) Ch [...]

Papers Please! By Cognitive Dissonance     For those who may not know, Mrs. Cog and I live in the mo [...]

Lies, Damn Lies and Coronavirus Statistics By Cognitive Dissonance     “Never believe anything in po [...]

The Decline and Fall of Civil Society Chapter One By Cognitive Dissonance     From my perspective at [...]

Event Update For 2020-07-09http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.htmlThe [...]

Event Update For 2020-07-08http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.htmlThe [...]

Event Update For 2020-07-07http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.htmlThe [...]

Event Update For 2020-07-06http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.htmlThe [...]

Event Update For 2020-07-05http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.htmlThe [...]

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

So how many more times are we going to hear that this is our last chance to take action in order to [...]

This is definitely not a bona fide post [...]

Daily Doom Photo

man-watching-tv

Sustainability
  • Peak Surfer
  • SUN
  • Transition Voice

The Great Pause Week 16: Cash Bounties for Scalps"The word “redskin” has been coined to refer to these trophies."Paris, June 15, 1756. Anti [...]

The Great Pause Week 15: Pirata"The white gull can bank steeply, climb, dive, and even invert, but it lacks by a large margin [...]

"The blow felt by a globalized, just-in-time, cheap-energy driven, modern consumer economy will [...]

"There are ten million times more viruses on Earth than there are stars in our universe."H [...]

The Great Pause Week 11: Son of a Lab Rat"Humans, by and large, seem unshakable in their beliefs that skin color, religious affiliation, [...]

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

In reply to Harry McGibbs. "rats torment diners" -- how nice! Is bubonic plague the new ri [...]

In reply to Harry McGibbs. A similar problem, many places! [...]

In reply to Harry McGibbs. A similar problem in many parts of the world, with different excuses for [...]

In reply to Harry McGibbs. Details that no one thought about! [...]

In reply to Harry McGibbs. Needless to say, wages won't go up at the same time. [...]

I don't get it. For years this blogger and others like Martenson have been on about the fragili [...]

In reply to steve from virginia. This Brookings webinar goes over some of the ground discussed here [...]

In reply to Ken Barrows. Everything is bullish! [...]

Also, it's very possible we could send the virus packing if everybody would just wear a face-ma [...]

The crux of the problem is that what Chris Martenson has christened the "Honey Badger Virus [...]

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

Globally, subtropical circulation in the lower troposphere is characterized by anticyclones over the [...]

Numerical models are being used for the simulation of recent climate conditions as well as future pr [...]

This study aims to provide improved knowledge and evidence on current (1986–2015) climate vari [...]

In many countries, urban heat island (UHI) effects come along with urbanization in metropolitan area [...]

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