Resumption Of Student Loan Repayments Stressing Already Stressed American Consumers

Authored by Michael Maharrey via SchiffGold.com,

After a more than 3-year pause, government student loan repayments started again this month and it’s already putting the squeeze on borrower’s wallets. This is bad news for an economy already strained by massive levels of debt and rising interest rates.

Interest accrual on student loans resumed on September 1 with the first payments coming due in October.

According to a recent survey reported by Yahoo Finance, about 40% of people with student loans expect to cut spending in order to make payments. Consumers planning to tighten their belts to cover student loan payments said they would likely cut back spending on restaurants, apparel, and electronics.

A separate Morgan Stanley survey found that only 24% of student borrowers can make monthly student loan payments in full without reducing spending. That was down from 29% just three months ago, indicating growing financial stress on consumers.

Continue reading “Resumption Of Student Loan Repayments Stressing Already Stressed American Consumers”

PULL IT!!!

“The illusion of freedom will continue as long as it’s profitable to continue the illusion. At the point where the illusion becomes too expensive to maintain, they will just take down the scenery, they will pull back the curtains, they will move the tables and chairs out of the way and you will see the brick wall at the back of the theater.” Frank Zappa

I know they try to keep us distracted with Taylor Swift’s latest escapades, today’s fake indictments of Trump, Biden’s dog biting another White House visitor, Dementia Joe falling down or shitting his pants while lying about his past, our imminent death from climate change and gas stoves, black lesbians from Maryland being appointed senator from California, allowing millions of third world savages to invade our homeland and then proposing Trumps wall, the annual government shutdown kabuki dance, and sending another $25 billion into Zelensky’s off-shore bank accounts for his noble freedom fighting efforts against Russia.

Continue reading “PULL IT!!!”

FALL OF AMERICAN EMPIRE AND DESCENT INTO A NEW DARK AGES

“The story of its ruin is simple and obvious; and, instead of inquiring why the Roman Empire was destroyed, we should rather be surprised that it had subsisted so long. The victorious legions, who, in distant wars, acquired the vices of strangers and mercenaries, first oppressed the freedom of the republic, and afterwards violated the majesty of the purple. The emperors, anxious for their personal safety and the public peace, were reduced to the base expedient of corrupting the discipline which rendered them alike formidable to their sovereign and to the enemy; the vigor of the military government was relaxed, and finally dissolved, by the partial institutions of Constantine; and the Roman world was overwhelmed by a deluge of Barbarians.” — Edward Gibbon. The Decline and Fall of the Roman Empire, Chapter 38 “General Observations on the Fall of the Roman Empire in the West”

How the fall of the Roman empire paved the road to modernity | Aeon Essays

“After a diligent inquiry, I can discern four principal causes of the ruin of Rome, which continued to operate in a period of more than a thousand years. I. The injuries of time and nature. II. The hostile attacks of the Barbarians and Christians. III. The use and abuse of the materials. And, IV. The domestic quarrels of the Romans.” — Edward Gibbon. The Decline and Fall of the Roman Empire, Chapter 71 “Four Causes of Decay and Destruction.”

The moniker of my website originated from a quote by David Walker, then Comptroller General of the U.S., in 2007. I wholeheartedly endorsed Walker’s viewpoint and become politically active in trying to get Ron Paul elected as president in 2008 and 2012. It was a fruitless effort, as the uni-party in Washington DC, controlled by the dark forces of the Deep State, do not allow men and women who truly want to reduce the size and scope of government to ever get elected. His warning sixteen years ago is a perfect example of being right but being early. When talking about the decline of empires, you are really deliberating about a process, not an event. The Roman Empire did not fall on a specific day due to a specific cause. It collapsed in stages over hundreds of years due to numerous reasons, each triggering events which compounded upon each other and ultimately led to the final collapse.

Continue reading “FALL OF AMERICAN EMPIRE AND DESCENT INTO A NEW DARK AGES”

Let’s Give Free Money to Gender Studies Majors

Guest Post by Kurt Schlichter

Let’s Give Free Money to Gender Studies Majors

I’m a strong supporter of the idea that a theoretical President Badfinger should decree that $50,000 in student loan debt just vanishes for everyone tired of the hassle of paying back what they owe. Chuck Schumer, who apparently never saw that “I’m Just a Bill” cartoon on Saturday morning in the ‘70s, thinks the desiccated old weirdo could do it if he is actually inaugurated. I just hope our newly Roberts-irrelevant Supreme Court doesn’t nix such a constitutional atrocity should the stars align and Mr. Stumbles tries it. It’s not that I want to reward the knuckleheads who spent way more money getting a degree in Marxist Puppetry than they might ever earn fetching lattes for successful people. Rather, I want to inflame the righteous fury of responsible citizens who actually paid their debts in order to flush these people down the sewer.

Continue reading “Let’s Give Free Money to Gender Studies Majors”

P FOR PANDEMIC

“People should not be afraid of their governments. Governments should be afraid of their people.” – Alan Moore – V for Vendetta

Coronavirus is close to becoming a pandemic, WHO warns - The ...

“Authority, when first detecting chaos at its heels, will entertain the vilest schemes to save its orderly facade.” – Alan Moore – V for Vendetta

I wrote an article called V for Vendetta – 2011 just over nine years ago on the day after the Tucson shooting where congresswoman Gabrielle Giffords and eighteen others were shot by a psychologically disturbed lunatic, with six dying. At the time, I thought of the scene from the V for Vendetta movie where someone did something stupid and all hell broke loose. I expected a similar result from this act, but those in control of our society were successfully able to put a cork in the bottle, preserving their façade of order.

We learned shortly thereafter, through the patriotic efforts of Edward Snowden and Julian Assange, how the government was using the vilest of schemes to surveil every American through their abuse of the Patriot Act. The government has become an enemy of the people.

The Immelman Turn » Blog Archive » Giffords Assassination Attempt

It is interesting to go back and view my conclusion from nine years ago and assess its accuracy as of today:

“This country has not reached the level of control and fear seen in Orwell’s 1984 and V for Vendetta, yet. We are moving relentlessly in that direction. Surveillance, monitoring, spying, censorship, secret prisons, predator drones, and conforming to state rules and regulations put citizens further under the thumb of an all-powerful state. The freedom to dissent, the freedom to be left alone, the freedom to speak out against injustice, the freedom to disagree with your government, and the freedom to present your ideas without fear of retribution or penalty are essential in a democratic society.

The next phase of this Fourth Turning will surely include another downward spiral in financial markets as un-payable debts accumulate to a tipping point level. When ATM machines stop spitting out twenties, food shelves are bare and gas stations are shuttered, social chaos will ensue. The government will react with further command and control measures. In V For Vendetta, the government creates a terrorist incident in order to gain unquestioned control over the population. Americans will need to be more vigilant than they have been over the last ten years in keeping an eye on their government.”

Continue reading “P FOR PANDEMIC”

WEEKS WHERE DECADES HAPPEN

Image result for weeks where decades happen

“There are decades where nothing happens; and there are weeks where decades happen.”Vladimir Ilyich Lenin

Image result for s&p 500 chart

 “A Crisis mood does not guarantee that the new governing policies will be well designed or will work as intended.

To the contrary: Crisis eras are studded with faulty leadership and inept management—from President Lincoln’s poor record of choosing generals to President Roosevelt’s colossal blunders with such alphabet soup agencies as the AAA, NRA, and WPA.

What makes a Crisis special is the public’s willingness to let leaders lead even when they falter and to let authorities be authoritative even when they make mistakes.

Wars become more likely and are fought with efficacy and finality. The risk of revolution is high—as is the risk of civil war, since the community that commands the greatest loyalty does not necessarily coincide with political (or geographic) boundaries. Leaders become more inclined to define enemies in moral terms, to enforce virtue militarily, to refuse all compromise, to commit large forces in that effort, to impose heavy sacrifices on the battlefield and home front, to build the most destructive weapons contemporary minds can imagine, and to deploy those weapons if needed to obtain an enduring victory.” – Strauss & Howe – The Fourth Turning

The quote by Lenin has been reverberating in my conscience for the last few weeks. I believe the quote from Strauss & Howe provides context to what has happened and will happen as this Fourth Turning advances towards its climax. I began a new role in my organization two weeks ago, after only seven months in my previous role. I’ve been in non-stop crisis meetings, as this coronavirus pandemic has flipped everyone’s world upside down. As of Thursday, we were ordered to work from home.

Continue reading “WEEKS WHERE DECADES HAPPEN”

Better Than a Loan

Guest Post by John Stossel

Better Than a Loan

Student loan debt keeps growing.

There is a better solution than the ones politicians offer, which stick the taxpayer or the loan lenders with the whole bill.

It’s called an “income share agreement.”

Investors give money to a college, and the college then gives a free or partially free education to some students. When those students graduate, they pay the college a certain percentage of their future income.

It’s a way “for the school to say to students, ‘You’re only going to pay us if we help you succeed’,” explains Beth Akers, co-author of the book “Game of Loans.”

Continue reading “Better Than a Loan”

UNDERESTIMATING THEM & OVERESTIMATING US

“Do not underestimate the ‘power of underestimation’. They can’t stop you, if they don’t see you coming.” ― Izey Victoria Odiase

Image result for bernanke, yellen, powell

During the summer of 2008 I was writing articles a few times per week predicting an economic catastrophe and a banking crisis. When the biggest financial crisis since the Great Depression swept across the world, resulting in double digit unemployment, a 50% stock market crash in a matter of months, millions of home foreclosures, and the virtual insolvency of the criminal Wall Street banks, my predictions were vindicated. I was pretty smug and sure the start of this Fourth Turning would follow the path of the last Crisis, with a Greater Depression, economic disaster and war.

In the summer of 2008, the national debt stood at $9.4 trillion, which amounted to 65% of GDP. Total credit market debt peaked at $54 trillion. Consumer debt peaked at $2.7 trillion. Mortgage debt crested at $14.8 trillion. The Federal Reserve balance sheet had been static at or below $900 billion for years.

Continue reading “UNDERESTIMATING THEM & OVERESTIMATING US”

Why Are So Many Top-Tier College Girls Turning To ‘Soft Prostitution’?

Via ZeroHedge

Are you a rich guy who wants to bang debt-laden college girls with all your extra money?

Are you a struggling college girl facing decades of six-figure debt so you can follow your unsinkable dreams?

Great news; thanks to the internet, your bases are covered! As we’ve previously reported (here and here), ‘soft prostitution’ may have been going on for a long time – but its normalization is relatively new – and undoubtedly linked to the $1.5 trillion+ student debt problem.

Continue reading “Why Are So Many Top-Tier College Girls Turning To ‘Soft Prostitution’?”

College Degree Impairs Thought Process

Submitted by Hardscrabble Farmer

Via CNBC

More student loan borrowers carry six-figure balances

Elisha Bokman has been out of school for eight years. Still, her student loan balance is half a million dollars.

Today, for her doctorate degree in naturopathic medicine and master’s in acupuncture from Bastyr University, she owes $499,322.69.

She and her husband struggled to buy a house because of her debt. Eventually, the financial stress led them to a divorce. “He felt like he couldn’t live his life or do the things he wanted to do,” Bokman, 38, said. She wanted to open her own medical practice, but she said her student debt prevents her from getting a business loan.

“It really effects the remainder of your life,” Bokman said. “There’s no out.”

Continue reading “College Degree Impairs Thought Process”

THIS IS IMMORAL

Students, Here’s A Plan To Solve Your Debt Problem (You Won’t Like It)

Guest Post by Kurt Schlichter

Students, Here’s A Plan To Solve Your Debt Problem (You Won’t Like It)

So, you’re a barista with a problem – you took out $200K student loans to get that master’s degree from Gumbo State in “LGBTQ2#v& Experiences as Reflected in 17th Century Bolivian Folk Songs” and now you can’t find an uncaffeinated career. Worse, those fascist monsters who you took money from based on your agreement to pay it back with interest now expect you to pay the money back with interest despite the fact that you really don’t feel like it anymore.

Well, I have a fresh solution to this crisis.

It’s an innovative strategy that totally and permanently resolves this problem in a new and exciting way.

Ready?

Here goes.

How about you pay your own student debt?

That’s it. It’s as elegant as it is simple. You. Pay. Your. Own. Debts.

Continue reading “Students, Here’s A Plan To Solve Your Debt Problem (You Won’t Like It)”

Elizabeth Warren Surprises Grads By Announcing She Will Sharply Increase Their Taxes To Pay For Their Student Loans

Via The Babylon Bee

AMHERST, MA—Speaking to the graduating class of 2019 at the University of Massachusetts Amherst, Senator Elizabeth Warren proudly announced she would be sharply increasing their taxes in order to pay for their own student loans, which were inflated by government subsidies in the first place.

After an inspiring speech in which she encouraged students to let the government do everything for them instead of doing things themselves and to exploit any minority status they have, or even ones they don’t have, Warren unveiled her generous offer.

“I have a special treat for you today,” she said, winking. “Every student here will be heavily taxed, and then with that money, we’ll forgive your student loans!”

Continue reading “Elizabeth Warren Surprises Grads By Announcing She Will Sharply Increase Their Taxes To Pay For Their Student Loans”

The Immorality of Student Loan Forgiveness and Free College

Guest Post by Nick Gillespie

elizabethwarren4-29

So now college should be free in the same way K–12 education is. That’s what most (though not all) of the Democratic presidential candidates are saying, with Massachusetts Sen. Elizabeth Warren offering the most-detailed plan to make tuition at public universities free, forgiving “95 percent” of existing student debt, and increasing the amount of money for Pell grants and historically black colleges and universities. Ironically, the push for “free” college is coming at a time when a historically high percentage—about 70 percent—of recent high-school graduates are already enrolling in college. College has somehow become so unaffordable and remote that more and more people are attending.

Continue reading “The Immorality of Student Loan Forgiveness and Free College”