As we continue in holiday mode, I’ve been listing a few points that I thought were worthy to reflect upon hence this running titled segment.
Back in 2009 I wrote what some called a scathing piece titled “Be Afraid, be very, Very, VERY Afraid” on a few things I found troublesome. One of the points I was arguing that seemed to fall on deaf ears was the potential for a massive recognition of troubles that I saw forthcoming in the college loan area and how that might be detrimental to not only students but companies, and the country as a whole. Here’s an excerpt:“How about that fancy college tuition you’re paying for?…Where’s your child going to find the job their studying for?…Oh that’s right!…If you accept or apply for any college loans, they can ONLY be made through the Government. That’s a new law that takes effect next year. So if the same rational applies for the Government in using it for their decision-making process. If they need people to run these companies because it’s in the good of the Tax Payer, and is needed in the eyes of the Government, what’s to say that in order for YOUR child to finish their degree, or receive one, they’ll have to do some Government Service working at one of the companies, hospitals, you fill in the blank” I had many people try to convince me that I was stating a lot to do about nothing. So I found it self satisfying to read this head line on one of the most read and cited financial blogs Zero Hedge.
“Risk and the Indentured Servitude of Student Loans” written by Charles Hugh Smith from Of Two Minds. The article starts off with this startling sentence. “Students stuck with gargantuan loans for life are bound in a bank-dominated “improvement” of indentured servitude.” (You can view the original article here)
The article is worth reading for it makes a very detailed and outlined case of the perils and pitfalls so many are not seeing even today let alone when I expressed it a few years back.
© 2011 Mark St.Cyr All Rights Reserved