Debt Rattle April 9 2015

[Raúl Ilargi Meijer]

Harris&Ewing Treasury Building, Fifteenth Street, Washington, DC 1918 • The Oil Industry’s $26 Billion Life Raft: Derivatives (Bloomberg) • Oil Tumble
[See the full post at: Debt Rattle April 9 2015]

[Raleigh]

Re student loans:

“If there are a lot of defaults, that would impact the fiscal situation, because the taxpayer would lose money in that deal,” Stanley said.

Student debt will probably continue to grow because of the country’s soaring cost of college tuition. Treasury’s Wall Street advisors point to estimates of additional $1 trillion in direct student debt over the next decade.”

Wow. People are graduating with in some cases useless degrees, unable to find jobs in their chosen field, and yet the government continues to give out student loans? Shouldn’t someone be asking some serious questions or telling some serious truth? Such as, “Honey, with your degree, I predict you’ll be working at The Gap or the corner 7-11.” No wonder tuition costs are rising – there’s a huge “demand” for a degree.

Karl Denninger yesterday posted a rant on what Elizabeth Warren earns for teaching ONE law class: $400,000.00 per year. The post is entitled, “How Do You Spell ‘Hypocrite’?” So the government should continue to guarantee the loans for what, so that she can continue to make that kind of money for teaching one class? Maybe she should be asking: why am I and others being paid so much money, forcing up tuition costs? Why are university and college administrators/professors making a fortune teaching students who in a lot of cases are not going to find jobs? And why is the government not telling these students the truth?

[Author]

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