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Thread: The Endgame of the Student Loan Debacle - Now it makes Sense

  1. #11
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    Quote Originally Posted by JustPassinThru View Post
    I'd heard of Stefan Molyneux any number of times, but given how...geeky...the Webcast-Podcast community is, the tricks, the tools...it took me awhile to actually come across his program and longer to find the hidden DOWNLOAD MP3 buttons.

    But anyway. Molyneux, who is painted by the Left as a Libertarian kook, actually makes a great deal of sense on a number of topics. Today, while working, I was listening to his thoughts on the Student Loan situation - as he took apart the complaints of the young woman who racked up $90,000 in debt, and nine years later has yet to pay on the actual principal of it.

    Freedomain Radio Podcasts with Stefan Molyneux (MP3 archive)



    The way he breaks it down - and he doesn't even draw the conclusion, at least not strongly - but what it adds up to, is terrifying.

    And demonic, in the PURE EVIL wreaked by the Obamatons, as they nationalized Student Loans.

    It's this way: The universities are jam-packed with MARXIST ACTIVISTS. We know that; we see, in smuggled smartphone vids, what they teach their young charges. They despise America and capitalism and individual freedoms.

    AND, we've all noted, the IRONY - of how they are paid so well, and how they charge their students such huge amounts; how the costs have increased fivefold in a generation.

    And, not incidentally, the balance of males to females has skewed violently in favor of the latter - and the array of absolutely USELESS courses of study, has grown like weeds.

    Here's what the Education syndicate is up to: First, they're overcharging, GROSSLY, for an increasingly-worthless product. They're doing what they accused Trade Schools of doing, 25 years ago - charging all out of proportion to what they deliver; and hustling their young charges into the loans programs to raise the money.

    Meantime, the educrats, from government grade-schools on, promote the false connection, COLLEGE -> SUCCESS. They build the image of how it's REALLY SMART people who have the diploma. So, if you go to koledge, you'll be really-smart, too.

    Stefan takes that logic apart, easily. One might as well ask for a professional NBA Player's contract - because professional basketball players are tall, demand a contract, and that will make you tall, too.

    The interest rate on College Obamaloans is STILL...NINE PERCENT. That was the rate when I was going to college - and in that era of 18-percent auto loans, those were a bargain. You could borrow $3000 with little fear...paying it off might be burdensome, but your future wasn't destroyed.

    Now, in an era of 0-percent Federal Reserve prime rates, of two-percent car loans, koledge loans are...nine percent. And ONLY government can make them.

    And they cannot be dodged. They are not discharged in personal bankruptcies.

    The young woman Stefan referenced, did an opinion piece complaining of her debt, her obligatory overtime, how a couple of years' hard times racked up the penalties; and how nine years after working twelve-hour days, plus commute times, she has yet to pay anything on the principle. She bemoans the lack of options - starting with things as trivial as not having money for evenings out; but then on to how this obligation makes her grossly unattractive to men looking to marry.

    If you're like me, you're saying "Tough toenails."

    BUT...think this one through. This woman's case is not unique - it's becoming ubiquitous. ALL these educated idiots...with all this debt...

    ...HEY! There's a WAY OUT OF THIS! ELECT HARD-LEFT DEMOCRATS WHO PROMISE TO FORGIVE THE LOANS!!.

    And...MAKE KOLEDGE FREE!! Yeah...THAT's the ticket...SOCIALISM!!!.



    Which is exactly what Barry, Hillary, Red Timmy Kaine, the whole cast of idiots in the Dumbo Party...PLUS the plague of perfessers in these sumps of lower-living that used to be universities...what they ALL want.

    Barry's puppetmasters...led him to set the table on this, perfectly. There is NO WAY this juggernaut is going to be stopped.

    What do I think we should do? I don't know. I do think they'll get the loans forgiven.

    I don't know how you can RESIST the pressure to forgive the loans and make koledge "free." Now it's all these SJW bimbos; AND whatever men they're involved with, to the extent they are involved. AND their parents, many of whom cosigned on those insanely-huge loans.

    That's a hell of a coalition there. As Stefan posits, debt is slavery - and slaves aren't mollified with fruitious pronouncements about personal responsibility and the obligation of a borrower to meet the terms of his promissory note.
    This is no big epiphany about the left. It's their known pattern/tactic. They did the same thing with health care, African Americans, and pretty much everything else. Destroy what works, cause hardship, then come to the rescue, because they made it impossible to do it on our own.

    Kinda like the fireman who sets the fires in secret so he can show up on the scene and be the Hero!
    Last edited by msc; 05-28-2018 at 01:16 PM.
    Can't we all just get along!

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    I have no empathy for this girl, her father, or any other yahoo who wasted there time and money on a degree that turns out to be worthless. They should have done the math before signing the contract and I'll be damned if the American people should be left holding the bag for something the bankers and the government cooked up to fill their pockets.




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    Quote Originally Posted by DeadEye View Post
    I have no empathy for this girl, her father, or any other yahoo who wasted there time and money on a degree that turns out to be worthless. They should have done the math before signing the contract and I'll be damned if the American people should be left holding the bag for something the bankers and the government cooked up to fill their pockets.
    Yabbut...they vote.

    Guess what they'll vote for. They'll vote to set themselves free - by imprisoning all of us.

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    Quote Originally Posted by JustPassinThru View Post
    Yabbut...they vote.

    Guess what they'll vote for. They'll vote to set themselves free - by imprisoning all of us.
    You are prolly right about that but it still deosn't make it right and is a knife in the back to those who have carried their own load.




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    This student loan situation today is predatory.

    First of all, we are graduating kids from college who shouldn't even be in college in the first place. That's the beginning of the problem right there.

    But then secondly, many of these kids are poor, and the only way they're going to get through the four years is by borrowing tons of money. Since the money is federally guaranteed, the banks are more than happy to get on board, because they know they're going to get their pay regardless. But on the ground, the reality and practices they're sucking money out of these dumb kids for the rest of their lives. That's predatory, there's no question about it. Yes, it's a good time to question whether that college degree really equates with success. I do understand that success is a relative thing, so if the degree means the difference between getting a job and not getting a job, then it's a good thing, but on the other hand if that job only pays $15 an hour then you're never going to pay that principal back. Which means in practice the banks are going to be sucking money out of your paycheck forever, for the rest of your life. It's like they get a fraction of your income for funding your education, and that's not how things should be.

    I also smell a business opportunity in here somewhere, because as long as we're giving away free college degrees, we might as well make them cheap. I could start a university for half the price he's other assholes are charging, and probably issue twice as many degrees too, in the process. That would make me the best university in town, right?

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    Quote Originally Posted by nonsqtr View Post
    This student loan situation today is predatory.

    First of all, we are graduating kids from college who shouldn't even be in college in the first place. That's the beginning of the problem right there.

    But then secondly, many of these kids are poor, and the only way they're going to get through the four years is by borrowing tons of money. Since the money is federally guaranteed, the banks are more than happy to get on board, because they know they're going to get their pay regardless. But on the ground, the reality and practices they're sucking money out of these dumb kids for the rest of their lives. That's predatory, there's no question about it. Yes, it's a good time to question whether that college degree really equates with success. I do understand that success is a relative thing, so if the degree means the difference between getting a job and not getting a job, then it's a good thing, but on the other hand if that job only pays $15 an hour then you're never going to pay that principal back. Which means in practice the banks are going to be sucking money out of your paycheck forever, for the rest of your life. It's like they get a fraction of your income for funding your education, and that's not how things should be.

    I also smell a business opportunity in here somewhere, because as long as we're giving away free college degrees, we might as well make them cheap. I could start a university for half the price he's other assholes are charging, and probably issue twice as many degrees too, in the process. That would make me the best university in town, right?
    IMO if you are going to college to get a job you are going for the wrong reason. College should be for building a career and technical school for getting a job. Back when I was young our high school prepared one for a job by offering technical training in carpentry, drafting, welding, auto repair, and farming. There were a couple of others I can't recall right now but you get my idea. College was for those who excelled in academics and could afford the tuition.




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    FYI- The ancient Athenians and Romans had a period of reform against this type of debt slavery early in their respective histories.

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    Quote Originally Posted by DonGlock26 View Post
    FYI- The ancient Athenians and Romans had a period of reform against this type of debt slavery early in their respective histories.
    And it didn't save them, either. The debt jubilees just increased irresponsibility and pressured the government to do it MOAR.

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    Yeah, sorry to hear that, but i'm already loaned some from REMOVED
    Last edited by Trinnity; 11-14-2018 at 07:10 PM.

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    Quote Originally Posted by lodrek View Post
    Yeah, sorry to hear that, but i'm already loaned some from REMOVED let's see how it works.
    Why don't you take you loan advertisements somewhere else? Anyone who thinks a 400 dollar loan is going to save them financially is an idiot.
    Last edited by Trinnity; 11-14-2018 at 07:10 PM.




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