JHK’s Three-Act Play
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Richard Fossey is the author of Student Loan Catastrophe: Postcards from the Rubble, published in September, 2017. He’s the Paul Burdin Endowed Professor of Education at the University of Louisiana at Lafayette. He received his J.D. from the University of Texas School of Law and his doctorate in education policy from Harvard Graduate School of Education. His research concentrates on the student loan crisis; and much of his work is focused on student loans and the federal bankruptcy courts. He is an active blogger on the student loan crisis. His blog sit can be accessed at condemnedtodebt.org
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A lot of these kids were sucked into for profit schools that have since gone out of business.
Leaving them with worthless degrees.
I believe that the department of education should be held accountable
and/or responsible regardless of whether it was a private or public loan.
It is not a question of bankruptcy but of sheer greed and power perpetuated by a never ending drive of bureaucracy out of control.
So what happens the USA’s massive networks of rackets and frauds if the US Dollar loses its reserve currency status? I can’t imagine it going all too well for us and doubt that these debts maintain any value if the dollar follows the same path as the reserve currencies before it.
I have been reading more and more about the Petro Yuan and a Chinese currency backed by gold. Part of me wonders about the accuracy of such stories but I also think that there may be something there.
I’m an old fart living out my days without student debt, so don’t take this as a threat, “Whoever” might be checking this, but after hearing things like this podcast I am often amazed that there is not more open rebellion in this country.
What gets me the most is the allegation, probably quite true, that the problem continues because of campaign contributions from the banking and commercial “education” lobbies.
They say that it is only by virtue of massive quantities of SSRIs that the country has not gone up in flames – yet. One day a straw will break the camel’s back.
If you are amazed by the fact that open rebellion or even violent rebellion has not happened, it has not and will not happen for good reason. Open, violent assault might seem to be the only way to change this and so many of the other corruptions that we live with is not only not possible but would change nothing anyway. Besides being morally wrong, violence only plays to the strength of the thugs, the Dons of Deception, that rule over this nation and these horribly corrupt systems. If these con artists who run the “Higher Education Racket” are ever deprived of their massive incomes because of the lack of paying customers, their lackeys in Congress and the Senate will simply bail them out as Too Useless to Fail. In the end, what is left of the working slobs will have the debt thrown onto their backs with all of the other bailout bullshit that we currently carry. Only when the Golden Geese are put out of their misery will the Golden Eggs cease to be squeezed out of them. They will not stop the beatings until the patients are dead. They are far to greedy and way too stupid. Or perhaps that is exactly what they want and precisely where they are steering this Garbage Scow of State.