It's Coming!

Here's the NYT article - Doesn't this ring a familiar bell - Credit Default Swaps and the Housing Collapse? Click here and take a look! -
https://www.nytimes.com/2017/07/17/business/dealbook/student-loan-debt-collection.html?partner=msft_msn&_r=0

Indentured Servitude - It's Back

If you have a child or grandchild who is planning to attend college you must listen to this. If you are interested in the economic prospects of future generations (as am I) this is for you too.

Is Anybody Looking Down the Tracks?

  A collision between robotization and student loan debt is inevitability on course. Tens of thousands of students are now being prepared for jobs that will soon be replaced by robots and A.I.(owned by corporations and the wealthy). An even sadder part is that they are incurring trillions of dollars of debt to become eligible for the non-existent jobs of the future. (See my post  - http://teachersdontsuck.blogspot.com/2015/07/i-robots.html). 

Not only will they have the prospect of few available jobs but also the burden of huge debt which they will have no means to repay. 

How will the housing market endure? Who will buy the new "driver-less" cars? Will the middle classes' disappearing act finally be  completed?

Might these be bigger problems than even terrorism for the capitalist system in the not too distant future?

Even less encouraging is that I have heard few it any politicians addressing the likelihood of these probable circumstances and how they should be addressed?

Learnin' Stuff Ain't Cheap!

It appears that in order to obtain a college education a student or his parents must become indentured servants of banks and/or the government!

BTY - Many of those indebted leave college without a degree! And if you've noticed the advertising by "for profit" schools is constant on both radio and TV (DeVry, Berkeley, Star, Phoenix, etc.). There must be a ton of money in the "education business".