Tag Archives: Colleges

The Student-Loan Fiasco: I’m Going to Wade into the Debate, But with my Boots On, by Wolf Richter

Student loans for higher education has become a very profitable racket. From Wolf Richter at wolfstreet.com:

The University-Corporate-Financial Complex is going to squeal.

OK, I’m going to wade into this debate. And I’m going to do it with my boots on.

The student loan fiasco – the pile of debt that has ballooned to $1.6 trillion – and what to do about it – particularly how much of that student debt to forgive at the expense of taxpayers – has now entered the list of presidential campaign promises.

These promises of student-loan forgiveness are efforts to buy votes at the expense of the rest of the taxpayers, whose money this is, on the principle that whoever proposes the biggest debt-forgiveness will get the most votes from those graduates and their parents.

I can’t blame them. It’s just too juicy a low-hanging fruit. If I were a politician running for office, I’d promise the same damn thing, and that’s why I’m not running for office.

But this $1.6 trillion is an asset on the government’s books. It was funded by tax receipts and debt that the government issued. If hypothetically, all students paid off their federal student loans today, the gross national debt would drop by 7%, from $22.5 trillion to $20.9 trillion.

Forgiving these student loans wipes out that asset, but the national debt that funded these student loans remains. That’s how that would work. There are no freebies, when it comes to debt.

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College Safe Spaces, from Reason

From Protesting Vietnam to Demanding “Safe Spaces” – What Happened to America’s College Kids? by Michael Krieger

Another disturbing article on what’s happened to America’ colleges. Be sure to click the link and watch the video at the end. You won’t believe the shrieking, screaming creature is a Yale student. From Michael Krieger at libertyblitzkrieg.com:

I grew up hearing stories of protest. About those years, a decade or so before I was born, during which America’s youth rebelled against the prevailing establishment, and forever changed the nation’s course in some meaningful ways.

Of course, many of you will accurately state that not much about the imperial state has actually changed since those days of protest, and that in fact, the out of control abuse of power both abroad and at home has gotten far worse in the subsequent decades. I will concede this point, but want to add a caveat. Certain things really did change, particularly with regard to racial discrimination in these United States. Not to say things are perfect, but to discount the significant gains achieved in this regard would be unfair.

Nevertheless, as far as the “shadow government” is concerned, not much has changed. Other than the fact that the status quo learned important lessons from those years of rebellion, and was forced to operate even more secretly than it did before. As an example, the military-industrial complex learned that it couldn’t have genuine journalists running around war zones after images taken in Vietnam shocked the nation and helped turn popular sentiment against it. As such, reporters in war zones these days are nothing more than propagandists and imperial shills. Indeed, increasingly effective propaganda and a captured corporate media has probably been the single most important tool used by the shadow government to maintain and consolidate control over all these years. In a nutshell, people have been dumbed down, as well as mentally and emotionally castrated, to the point of being almost unable to rebel against anything of real importance.

Which brings me to the point of this post. The reason I brought up the civil disobedience and activism of the 1960’s, is because it did at least represent a true conflict with that generation’s status quo, and it did in fact attempt to tackle some of the pressing issues of power, justice and freedom that existed at the time. This is in stark contrast to what passes as “activism” on college campuses today, which essentially amounts to “pro-censorship” students vigilantly defending an entirely invented and unconstitutional right to “not be offended.” Whereas the 60’s movements, for all their failings, were at least ostensibly about freedom (of the mind and body), today’s college movements are strikingly focused on shackling the mind, and turning campuses in unintellectual, zombie-filled wastelands.
Of course, while someone like myself might be tempted to just laugh off such infantile and pathetic “activism,” it is in fact one of the most dangerous trends facing modern American society. You’d think that a culture in which the most vibrant source of college activism centered around the defense of a non-existent right to not be offended, would be one where all other issues of national import had been successfully addressed.

To continue reading: What Happened to America’s College Kids