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If Bernie Sanders Were a Philip K. Dick Character ...
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Screenshot 2015-12-29 17.17.33

This would make a good Philip K. Dick sci-fi premise: when you default on your college loans, cognitive repo men come and take back your knowledge of the Austro-Hungarian Empire, the Capital Asset Pricing Model, and Post-Structuralism.

 
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  1. Shouldn’t interest rates just be a function of the probability of defaulting and what kind of collateral goes with the loan?

    Based on that, home and car loan rates should have lower interest rates because the people taking them are more likely to already have jobs.

    • Replies: @PenskeFile
    @Lamb

    Interest rates are a function of many items in a financing P&L. Net credit losses (what you are referring to as probability of default and collateral) are the most important. You also need to take into account the operating and marketing expenses of the business model (eg mortgages are MUCH more expensive than credit cards) and fee income and other revenue streams.

    Also a factor is interest costs and how the loans are financed. Are they held on-balance sheet, securitized or a little of both? This is important to determine the ultimate metric - Return on Equity. The more you can securitize, the less equity (ie YOUR money) you have to put up and the more income you can make off your invested capital.

    Bernie and his advisors don't seem to have any clue about any of this. Let's just make a law that all interest rates need to be the same!!

  2. Maybe they could put a lien on your official transcript. Some schools – including my own alma mater – will do that if you have unpaid bills or parking tickets after graduation.

    You’d be surprised how many organizations won’t process a job application or background check unless you have your school send them a new official transcript.

    So if you default on your student loans, the government does the intangible equivalent of repossessing your degree, because in our Kafka-reality you now can’t prove them in the official way anymore.

    Actually, let’s not give them any ideas. Next time they’ll just swipe Tim Hunt’s (ability to prove he has a) PhD instead of forcing him into exile in Japan.

    • Agree: BB753
    • Replies: @Big Bill
    @Handle


    So if you default on your student loans, the government does the intangible equivalent of repossessing your degree, because in our Kafka-reality you now can’t prove them in the official way anymore.
     
    Internet to the rescue! A new web site, "Records-R-Us", to which you send a copy of your transcript from your college right after graduation, stores it, and serves it up for the rest of your life as the "official" copy. [I just love this Internet thingie!]
  3. This economic moron has been voting on our nation’s financial affairs and has no concept of risk or secured vs unsecured loans? This alone should disqualify him for dogcatcher. I’ll betcha’ Trump knows this one cold.

    • Agree: Hail
    • Replies: @Anonymous
    @Jim Sweeney

    Trump knows all about defaulting....

    Replies: @Jim Sweeney, @Big Bill

    , @24AheadDotCom
    @Jim Sweeney

    I'm sure Trump knows that cold. I'm also sure he realizes that an educated populace is better for the U.S. than, for instance, large numbers of otherwise qualified people not being able to get some college knowledge.

    However, Trump being Trump and his followers being his followers, it's possible he'll play to their stupidity yet again. And, his followers will eat it up.

    Of course, Trump is smart so he knows appealing to dunderheads isn't how he'd win the general. He'll toss said dunderheads under his bus and there won't be anything they can do about it.

    Replies: @Alec Leamas, @AnAnon

  4. One of my all time favorite quotes is from Philip K. Dick

    “Reality is that which, when you stop believing in it, doesn’t go away”

    • Replies: @Luke Lea
    @George Taylor

    George Taylor's favorite Philip K. Dick quote: “Reality is that which, when you stop believing in it, doesn’t go away”

    E.g. belief in God. You may stop believing in God, but the belief in God doesn't go away. By this I mean that belief in God has been and remains a tremendous force in history. For example it propels phenomena like Isis, though whether the God of Muhammad is the same God Christians have traditionally believed in -- and to a much lesser extent believe in today -- is questionable.

    People who don't believe in God, including most educated people in the West, fail to appreciate these realities. Thus in today's studies in history, whether in public schools or in our leading universities, it is seldom recognized, let alone explored, that the idea of God is easily the most influential idea in Western intellectual history -- accounting for such things as the contemporary liberal idea that all people are pretty much the same everywhere, or the idea, shared by both liberals and conservatives, that political liberty and social justice, including equality under the law, are central to our culture and civilization.

    I don't expect that many iSteve readers will appreciate this.

    Replies: @Clyde

  5. Anonymous • Disclaimer says:

    Sanders at least got Trump to flip on his call for lower wages:

    http://www.businessinsider.com/donald-trump-bernie-sanders-wages-high-low-2015-12

    After previously saying wages were “too high,” Trump instead stressed Monday that they were actually “too low.”

    In the Monday-morning tweet, Trump also said that good jobs were “too few” and that people had “lost faith in our leaders.”

    The apparent shift came after Sen. Bernie Sanders (I-Vermont), a Democratic presidential candidate, said in a Sunday interview that his message would resonate among Trump’s working-class supporters.

    “Look, many of Trump’s supporters are a working-class people, and they’re angry,” Sanders said on CBS’ “Face the Nation,” according to the show’s transcript. “And they’re angry because they’re working longer hours for lower wages. They’re angry because their jobs have left this country and gone to China or other low-wage countries.”

    Sanders added: “In fact, he has said that he thinks wages in America are too high.”

    Trump first responded Sunday by accusing Sanders of lying:

    [email protected] blew his campaign when he gave Hillary a pass on her e-mail crime, said that I feel wages in America are too high. Lie!
    — Donald J. Trump (@realDonaldTrump) December 27, 2015

    Trump, however, has indeed said that wages — among many other things in the US — are too high.

    In a Fox Business Network debate in November, Trump used his opening statement to say, “Taxes too high, wages too high. We’re not going to be able to compete against the world.”

    And Trump doubled down on his position during a “Morning Joe” interview the day after that debate.

    “It’s a tough position politically,” Trump acknowledged on the MSNBC show. “We have to become competitive with the world. Our taxes are too high — our wages are too high. Everything is too high. We have to compete with other countries.”

    • Replies: @Luke Lea
    @Anonymous

    When Trump said wages are too high I think he meant that the current minimum wage is too high because it makes some people in our society unemployable (teenagers for example). Or maybe he meant that wages were too high given that we haven't started taxing imports from low-wage countries like China and Mexico because, absent those taxes, American manufacturers are uncompetitive.

    Replies: @Jackdaw

  6. If a pussy like Bernie Sanders is the face of the Left these days, thank heavens our prayers have been answered.

  7. Bernie’s a mench, you couldn’t do better than to elect this guy. He’s like a Jewish version of Trump. A man of the people standing up to the oligarchs who finance and control American politics. I give both of these men a lot of credit for having the balls in 2015 to stand up to what we’re up against. Patriots both of them.

    • Replies: @Charles Erwin Wilson
    @Trelane

    Really? You want to put a socialist in charge of a federal bureaucracy of true socialist believers and you think that the result will be better off than what we have from "the oligarchs who finance and control American politics"? Have you never heard of tyranny or absolutism? Do you think Sanders won't stomp your face forever with the boot of socialist 'right-thinking'?

    Bernie will enable the jackbooted bureaucrats to ensure that wrong thinking results in the loss not only of your position or business, but also of your house. So if destitution is your desire, or grovelling before your 'superiors' is your preference, then Bernie is your man.

    If you are in doubt about the results, consult the Oregon bakers that were not only deprived of their business, but also their home - just because they wouldn't bake a cake for a privileged minority.

    Replies: @Jim Don Bob

    , @Hail
    @Trelane


    He’s like a Jewish version of Trump. A man of the people standing up to the oligarchs
     
    NumbersUSA Immigration Grades

    F Clinton
    F Sanders
    A- Trump
    A- Cruz (on paper)
    D Rubio

    Replies: @Trelane, @Dave Pinsen

    , @Alec Leamas
    @Trelane

    Not really. He's blaming the Lenders rather than the real culprits - the Colleges and Universities which set tuition and fees at rates which reflect several multiples of inflation when compared to an index of other goods. The reason he's doing this is that the Colleges and Universities constitute the taxpayer subsidized Leftist-Activist base of the Democratic Party which agitate and advocate for extrademocratic policy changes in the Administrative State and Courts and volunteer time in various Left "movements." The interest charged on Student Loans is historically reasonable and commercially very reasonable considering the fact that the borrower is by nature most often without a history of creditworthiness which would under ordinary circumstances be required to borrow tens of thousands of dollars.

    In truth, I don't think the Left and Democrats are really all that concerned (or, more accurately, are actually enthused) about a sort of class of propagandized, over-credentialed and underemployed young people who are in a state of perpetual student-hood, having not progressed on the formerly usual and customary course of career-marriage-homeownership-parenthood. These perpetual adolescents, including and especially those who have remained in academia as a "career" chasing the too-few tenured professorships (but who are compensated on meager adjunct per-credit bases) never seem to point the finger of blame at the academy but rather serve as activist shock troops motivated by resentment (being most credentialed but least compensated compared to peers) and not tempered by having a vested interest in the normal means and methods of middle class life. These sorts have been around in Europe for quite some time and have proved enormously useful to the political Left over there, I imagine their emerging presence in the U.S. is considered by the Left to be a "feature, not a bug" for like reasons.

    Replies: @ben tillman, @Big Bill

    , @Reg Cæsar
    @Trelane


    Bernie’s a mensch…
     
    Tell us, how does he keep his state so white? We'd all like to know.

    It's only 50 miles from Montreal, and 105 from Boston.

    Replies: @Diversity Heretic, @Brutusale

    , @Grandpa Jack
    @Trelane

    Well considering how many college grads these days are "luftmensch" , Bernie would be a good "man of the people" for them at least

  8. I’m thinking that repossessing “knowledge” of Post-Structuralism and the rest of the crit PoMo and gender/ethnic theories might not be such a tragic outcome. Half of it contradicts the other half, which their various proponents are honor bound to ignore.

  9. Anonymous • Disclaimer says:

    They passed the IRS passport law as part of Ryan’s Omnibus. More than $50000 in dispute and your passport is invalid.

    They also slipped in CISA which was successfully beaten back until now. Amazing how little coverage that received. I like Trump but Trump loves the Daddy State which is not any better than the Mommy State.

    The surveillance super state of the future (see the command base in Utah) will prevent anyone like Trump from ever running again. It’s not just a lack of funds that force the other candidates to mouth acceptable boilerplate only. It’s a total lack of privacy.

    The granular detail available in opposition research is already jaw dropping. I wonder how many state sponsored hackers have backdoored Trump’s phone.

  10. @Trelane
    Bernie's a mench, you couldn't do better than to elect this guy. He's like a Jewish version of Trump. A man of the people standing up to the oligarchs who finance and control American politics. I give both of these men a lot of credit for having the balls in 2015 to stand up to what we're up against. Patriots both of them.

    Replies: @Charles Erwin Wilson, @Hail, @Alec Leamas, @Reg Cæsar, @Grandpa Jack

    Really? You want to put a socialist in charge of a federal bureaucracy of true socialist believers and you think that the result will be better off than what we have from “the oligarchs who finance and control American politics“? Have you never heard of tyranny or absolutism? Do you think Sanders won’t stomp your face forever with the boot of socialist ‘right-thinking’?

    Bernie will enable the jackbooted bureaucrats to ensure that wrong thinking results in the loss not only of your position or business, but also of your house. So if destitution is your desire, or grovelling before your ‘superiors’ is your preference, then Bernie is your man.

    If you are in doubt about the results, consult the Oregon bakers that were not only deprived of their business, but also their home – just because they wouldn’t bake a cake for a privileged minority.

    • Replies: @Jim Don Bob
    @Charles Erwin Wilson

    Speaking of Oregon Bakers and the tolerant Left: https://pjmedia.com/trending/2015/12/29/bakery-pays-135k-for-refusing-to-make-cake-for-gay-wedding.

    Some of the comments are good; can a black refuse to make a cake for the KKK?

  11. A solar-battery-powered chopper marked BELOVED BRETHREN MORATORIUM waited at the edge of the Zurich field. Beside it stood a beetle-like individual wearing a Continental outfit: tweed toga, loafers, crimson sash and a purple airplane-propeller beanie. The proprietor of the moratorium minced toward Joe Chip, his gloved hand extended, as Joe stepped from the ship’s ramp onto the flat ground of Earth.

    “Not exactly a trip replete with joy, I would judge by your appearance,” von Vogelsang said as they briefly shook hands. “May my workmen go aboard your attractive ship and begin-”

    “Yes,” Joe said. “Go aboard and get him.” Hands in his pockets, he meandered toward the field’s coffee shop, feeling bleakly glum. All standard operating procedure from now on, he realized. We got back to Earth; Hollis didn’t get us – we’re lucky. The Lunar operation, the whole awful, ugly, rat-trap experience, is over. And a new phase begins. One which we have no direct power over.

    “Five cents, please,” the door of the coffee shop said, remaining shut before him.

    He waited until a couple passed by him on their way out; neatly he squeezed by the door, made it to a vacant stool and seated himself. Hunched over, his hands locked together before him on the counter, he read the menu. “Coffee,” he said.

    “Cream or sugar?” the speaker of the shop’s ruling monad turret asked.

    “Both.”

    The little window opened; a cup of coffee, two tiny paper-wrapped sacks of sugar and a test-tube-like container of cream slid forward and came to rest before him on the counter.

    “One international poscred, please,” the speaker said.

    Joe said, “Charge this to the account of Glen Runciter of Runciter Associates, New York.”

    “Insert the proper credit card,” the speaker said.

    “They haven’t let me carry around a credit card in five years,” Joe said. “I’m still paying off what I charged back in-”

    “One poscred, please,” the speaker said. It began to tick ominously. “Or in ten seconds I will notify the police.”

    He passed the poscred over. The ticking stopped.

    “We can do without your kind,” the speaker said.

    “One of these days,” Joe said wrathfully, “people like me will rise up and overthrow you, and the end of tyranny by the homeostatic machine will have arrived. The day of human values and compassion and simple warmth will return, and when that happens someone like myself who has gone through an ordeal and who genuinely needs hot coffee to pick him up and keep him functioning when he has to function will get the hot coffee whether he happens to have a poscred readily available or not.” He lifted the miniature pitcher of cream, then set it down. “And furthermore, your cream or milk or whatever it is, is sour.”

    -Ubik

  12. Anonymous • Disclaimer says:

    Trump is on record saying he assumes other parties are listening to his phone calls.

    But I wonder if he understands that the same phone that he uses for Twitter can be hacked many different ways so that it eavesdrops when in Airplane Mode or Power Off.

    Also NSA has backdoored most all “secure” government communications thru one company and probably many other companies. That news dropped last week on the ARStechnica website.

    Also the encryption that everyone thinks is safe is actually not safe at all. There was a theory about NSA actually being ahead of all the latest encryption (while playing dumb) back in the 90’s. Gradually small slipups/leaks paint a picture over the years that it has always been the case. This is all very much like WWII codebreaking of Nazis but now they are running the same operation on the whole world.

    Anyway if you want to keep a secret today it’s very hard to do. I wonder if Trump et all understand just how hard.

    • Replies: @Steve Sailer
    @Anonymous

    "This is all very much like WWII codebreaking of Nazis but now they are running the same operation on the whole world."

    Institutionally, it's pretty much all one effort going back to Bletchley Park, right? The French seem to think it's all one 75-year-long Anglo-Saxon plot to rule the world.

    Replies: @Anonymous, @The Man From K Street

    , @5371
    @Anonymous

    Keeping secrets has always been very hard. That's why the essential technique has involved a bodyguard of lies.

  13. @Jim Sweeney
    This economic moron has been voting on our nation's financial affairs and has no concept of risk or secured vs unsecured loans? This alone should disqualify him for dogcatcher. I'll betcha' Trump knows this one cold.

    Replies: @Anonymous, @24AheadDotCom

    Trump knows all about defaulting….

    • Replies: @Jim Sweeney
    @Anonymous

    Yes, he used legal process to bankrupt and reorganize corporations and investors lost some or all of their risk capital. Happens all the time and is not a personal character flaw. He never personally guaranteed a profit and every investor or lender knew that going in. Sometimes you lose.

    , @Big Bill
    @Anonymous

    Interesting. My lefty relatives have started hitting on the "Trump went bankrupt!" meme quite a bit lately. I guess I am supposed to see it as a character flaw or something.

    When I ask them whether it was Chapter 7, 11, or 13, a reorg or liquidation, they just give a blank look.

    As best I can figure, the bankruptcy talking point was first formulated and circulated back in August or September.

    Oddly enough, they as lefties they condemn the no-bankruptcy-for-college-loans law from a few years ago. As the Brits say, "any stick will do to beat the dog".

  14. @Trelane
    Bernie's a mench, you couldn't do better than to elect this guy. He's like a Jewish version of Trump. A man of the people standing up to the oligarchs who finance and control American politics. I give both of these men a lot of credit for having the balls in 2015 to stand up to what we're up against. Patriots both of them.

    Replies: @Charles Erwin Wilson, @Hail, @Alec Leamas, @Reg Cæsar, @Grandpa Jack

    He’s like a Jewish version of Trump. A man of the people standing up to the oligarchs

    NumbersUSA Immigration Grades

    F Clinton
    F Sanders
    A- Trump
    A- Cruz (on paper)
    D Rubio

    • Replies: @Trelane
    @Hail

    I'd give them all an 'F' on immigration. None of them get it.

    But I'd agree with you that Sanders in lost in outer space on this issue. Trump's the better candidate here.

    Replies: @AndrewR

    , @Dave Pinsen
    @Hail

    It's likely the true views of Trump and Sanders on immigration are closer than those grades suggest. Both have been driven to opposite sides to appeal to their electorates.

    Somewhat related to this, Fredrik DeBoer had a blog post this week ( http://fredrikdeboer.com/2015/12/22/yes-virginia-there-is-a-left-wing-reform-movement/ ) lamenting that obnoxious political correctness was getting in the way of leftism achieving its goals. He doesn't seem to grok the difficulty of reconciling the goals of identity politics and traditional labor socialism though.

  15. All the single women I know are big Sanders supporters. I guess they want to be able to rely on the state since they don’t have a husband.

  16. This was put forward as a feature of the Electro-Education Machine from a story that predates PKD’s We Can Remember it for You Wholesale by almost 20 years:

    “The scanner can erase this new-found knowledge from the brain, by using a neutralizing electronic impulse. Then the student can learn entirely new subjects.”

    From The Knowledge Machine, by Edmond Hamilton.
    Published by Thrilling Wonder Stories in 1948

  17. Actually, you might as well take back the memories and then take the body of the newly erased person in compensation…

    The Bureau had originally hoped the doctors could use laser imprinted subliminal commands to insert new behaviour patterns into the more stubborn social recidivists. A technique that would produce, if not model citizens, at least reasonably honest ones. That research was still continuing, but for the last year the Institute had concentrated on developing Softlight.

    It had been the idea of Doctor Michael Elliot, a neurologist who had been studying memory retention to see how long the rectification commands would last.

    What his research uncovered was the amnesia mechanism, the method by which grey cells discard the unwanted memories of each day’s events, preventing the brain from being cluttered up with a billion irrelevant details. Elliot isolated the governing neurological code and managed to adapt the laser imprint technique to transmit the sequence throughout the brain. Softlight: the total erasure of memory and behaviour patterns. Personality death.

    Anyone committing a capital crime could be mentally executed, leaving behind a perfectly viable body; an adult infant ready to be named, educated, and returned to the world as fully functional members of society. Capital punishment without death. For the PC politicians of the Brussels Federal Assembly it was a dream solution…

    Officially it was laboratory complex seven. But Douglas knew the Institute staff had taken to calling it the Light Chamber; and the press had somehow got hold of that title. It resembled a dental surgery, with a bulky hydraulic chair in the middle of the floor, a glass-topped desk, several cabinets of electronic equipment, and two voice-activated computer terminals. The Softlight imprinter was a triple-segment metal arm standing next to the chair; it ended in a bulbous plastic strip moulded to fit over the eyes like an optician’s mask.

    From Softlight Sins, by Peter F. Hamilton.
    Published by Birmingham Science Fiction Group in 1997

  18. cognitive repo men come and take back your knowledge of the the Austro-Hungarian Empire, the Capital Asset Pricing Model, and Post-Structuralism.

    If they wait more than a year or so it will all have evaporated anyway, like in Don Novello’s description of the Five-Minute University:

    I find that education, it don’t matter where you go to school, Italy, America, Brazil, all are the same — it’s all this memorization and it don’t matter how long you can remember anything just so you can parrot it back for the tests.

    I got this idea for a school I would like to start, something called the Five Minute University. The idea is that in five minutes you learn what the average college graduate remembers five years after he or she is out of school. [etc.]

    http://www.templaruniversity.com/guido.html

  19. @Trelane
    Bernie's a mench, you couldn't do better than to elect this guy. He's like a Jewish version of Trump. A man of the people standing up to the oligarchs who finance and control American politics. I give both of these men a lot of credit for having the balls in 2015 to stand up to what we're up against. Patriots both of them.

    Replies: @Charles Erwin Wilson, @Hail, @Alec Leamas, @Reg Cæsar, @Grandpa Jack

    Not really. He’s blaming the Lenders rather than the real culprits – the Colleges and Universities which set tuition and fees at rates which reflect several multiples of inflation when compared to an index of other goods. The reason he’s doing this is that the Colleges and Universities constitute the taxpayer subsidized Leftist-Activist base of the Democratic Party which agitate and advocate for extrademocratic policy changes in the Administrative State and Courts and volunteer time in various Left “movements.” The interest charged on Student Loans is historically reasonable and commercially very reasonable considering the fact that the borrower is by nature most often without a history of creditworthiness which would under ordinary circumstances be required to borrow tens of thousands of dollars.

    In truth, I don’t think the Left and Democrats are really all that concerned (or, more accurately, are actually enthused) about a sort of class of propagandized, over-credentialed and underemployed young people who are in a state of perpetual student-hood, having not progressed on the formerly usual and customary course of career-marriage-homeownership-parenthood. These perpetual adolescents, including and especially those who have remained in academia as a “career” chasing the too-few tenured professorships (but who are compensated on meager adjunct per-credit bases) never seem to point the finger of blame at the academy but rather serve as activist shock troops motivated by resentment (being most credentialed but least compensated compared to peers) and not tempered by having a vested interest in the normal means and methods of middle class life. These sorts have been around in Europe for quite some time and have proved enormously useful to the political Left over there, I imagine their emerging presence in the U.S. is considered by the Left to be a “feature, not a bug” for like reasons.

    • Replies: @ben tillman
    @Alec Leamas


    Not really. He’s blaming the Lenders rather than the real culprits – the Colleges and Universities which set tuition and fees at rates which reflect several multiples of inflation when compared to an index of other goods.
     
    Right, but not just the colleges. It's also the central government.

    The reason he’s doing this is that the Colleges and Universities constitute the taxpayer subsidized Leftist-Activist base of the Democratic Party which agitate and advocate for extrademocratic policy changes in the Administrative State and Courts and volunteer time in various Left “movements.”
     

    So far, so good, but it should be noted that they're doing it with huge government subsidies.

    The interest charged on Student Loans is historically reasonable and commercially very reasonable considering the fact that the borrower is by nature most often without a history of creditworthiness which would under ordinary circumstances be required to borrow tens of thousands of dollars.
     
    You left out the fact that the debts are non-dischargeable in bankruptcy.
    , @Big Bill
    @Alec Leamas


    These perpetual adolescents, including and especially those who have remained in academia as a “career” chasing the too-few tenured professorships (but who are compensated on meager adjunct per-credit bases) never seem to point the finger of blame at the academy.
     
    You do not read much. The "Academy" is the FIRST thing they blame, as in "you get big money from the students, yet you only pay us peanuts."

    Replies: @anowow

  20. @Jim Sweeney
    This economic moron has been voting on our nation's financial affairs and has no concept of risk or secured vs unsecured loans? This alone should disqualify him for dogcatcher. I'll betcha' Trump knows this one cold.

    Replies: @Anonymous, @24AheadDotCom

    I’m sure Trump knows that cold. I’m also sure he realizes that an educated populace is better for the U.S. than, for instance, large numbers of otherwise qualified people not being able to get some college knowledge.

    However, Trump being Trump and his followers being his followers, it’s possible he’ll play to their stupidity yet again. And, his followers will eat it up.

    Of course, Trump is smart so he knows appealing to dunderheads isn’t how he’d win the general. He’ll toss said dunderheads under his bus and there won’t be anything they can do about it.

    • Replies: @Alec Leamas
    @24AheadDotCom

    I don't think Trump's followers, dunderheads or no, have much appetite to further subsidize education lending in order to exempt it from normal market forces which dictate creditworthiness and risk.

    Having said this, his interlocutors could point to his entities' past use of Bankruptcy, whereas education loans are ordinarily not discharegeable in Bankruptcy. (putting aside that commercial lending is much more in the nature of investment than straight consumer lending with which most people are familiar - with interest rates reflecting the risk and relative security positions, etc.).

    Replies: @24AheadDotCom

    , @AnAnon
    @24AheadDotCom

    "However, Trump being Trump and his followers being his followers, it’s possible he’ll play to their stupidity yet again. And, his followers will eat it up." - It is important to note that his followers come from the groups that are the most discriminated against in terms of getting into colleges and universities. lack of credentials does not necessarily mean stupid.

    "I’m also sure he realizes that an educated populace is better for the U.S. than, for instance, large numbers of otherwise qualified people not being able to get some college knowledge." - then he'll pull disparate impact, which will eliminate their monopoly on signaling, and cause the price of an education to fall.

    The left controls these institutions and has created the monstrosity they've become, anything to rectify what they've done is to our benefit.

  21. @Anonymous
    Trump is on record saying he assumes other parties are listening to his phone calls.

    But I wonder if he understands that the same phone that he uses for Twitter can be hacked many different ways so that it eavesdrops when in Airplane Mode or Power Off.

    Also NSA has backdoored most all "secure" government communications thru one company and probably many other companies. That news dropped last week on the ARStechnica website.

    Also the encryption that everyone thinks is safe is actually not safe at all. There was a theory about NSA actually being ahead of all the latest encryption (while playing dumb) back in the 90's. Gradually small slipups/leaks paint a picture over the years that it has always been the case. This is all very much like WWII codebreaking of Nazis but now they are running the same operation on the whole world.

    Anyway if you want to keep a secret today it's very hard to do. I wonder if Trump et all understand just how hard.

    Replies: @Steve Sailer, @5371

    “This is all very much like WWII codebreaking of Nazis but now they are running the same operation on the whole world.”

    Institutionally, it’s pretty much all one effort going back to Bletchley Park, right? The French seem to think it’s all one 75-year-long Anglo-Saxon plot to rule the world.

    • Replies: @Anonymous
    @Steve Sailer

    Institutionally, it’s pretty much all one effort going back to Bletchley Park, right?

    Creating nurturing FSOS false sense of security yes that is the effort that pays off.

    When they gave us the internet maybe what they were thinking was FSOS on an institutional level.

    , @The Man From K Street
    @Steve Sailer


    Institutionally, it’s pretty much all one effort going back to Bletchley Park, right?
     
    Actually, since the Poles were the ones who first started the hack into the Enigma machines in 1932, they handed off their work to both the British and the French when Warsaw fell in '39.

    It seems impossible to believe, but the Vichy government thus knew the ULTRA secret throughout the war--and kept it hidden from the Germans just as successfully as the Allies! The charge of collaboration was not 100% fair in all things--Vichy saw itself as doing what it had to do out of patriotism--and the patriotic thing, as far as they were concerned, did not include telling the Nazis everything.
  22. Steve, I guess the Devil’s Advocate would reply that the loans are non-dischargeable in Bankruptcy (this is technically not true in every case*). The Devil’s Devil’s Advocate would reply that one can’t squeeze blood from a stone.

    My plan for a better student loan system would require the (very well endowed) educational institutions themselves to hold the loan debt for a definite period after matriculation (maybe five years), after which time the loans could be sold to private lenders with interest rates set according to the individual graduate’s creditworthiness at that time to replenish the supply of loan money (but capped in the original loan docs). If the borrower is not creditworthy and no private lenders will assume the loans within the agreed range, the educational institution is stuck with the distressed loans, thus (at least theoretically) reducing the available loan money for future borrowers at that institution. Since the educational institutions stand in the shoes of a commercially reasonable Lender, they should exercise more discretion about whom they admit, what courses of study are available, and whether and to what extent money will be lent for courses of study unlikely to result in some marketable skills. We’d probably see far fewer Baristas with Masters Degrees at least.

    President Leamas would also publish a yearly maximum tuition, room and fees schedule for full-time students indexed against an array of consumer goods. The United States would not prohibit any institution from charging tuition in excess of this yearly schedule, however the tax-exempt status of the institutions would rely upon the charge of tuition, room and fees at or below the schedule. 501(c)(3) tax-exempt entities are supposed to offer a significant proportion of their services for a reduced fee or no fee to fulfill their tax-exempt educational or charitable purpose. It simply does not make sense for the United States to heavily directly and indirectly subsidize exclusive country clubs for the children of elites to network. Since the most elite institutions are more or less hedge funds which make hundreds of millions if not billions annually tax exempt, they’d have the most incentive to get realistic about the sticker prices they charge – and since they set the perception of quality with their published tuition and fees, it would have a salutary effect on the less elite institutions.

    * I believe that if disability can be demonstrated to the Bankruptcy Court educational debt can be discharged.

    • Replies: @Romanian
    @Alec Leamas

    Thank you. This was a very interesting comment. I shall borrow from it, liberally... get it? ;)

  23. @Hail
    @Trelane


    He’s like a Jewish version of Trump. A man of the people standing up to the oligarchs
     
    NumbersUSA Immigration Grades

    F Clinton
    F Sanders
    A- Trump
    A- Cruz (on paper)
    D Rubio

    Replies: @Trelane, @Dave Pinsen

    I’d give them all an ‘F’ on immigration. None of them get it.

    But I’d agree with you that Sanders in lost in outer space on this issue. Trump’s the better candidate here.

    • Replies: @AndrewR
    @Trelane

    I strongly suspect you're a troll, but I'll bite:

    How on earth would Trump get an F?

  24. @24AheadDotCom
    @Jim Sweeney

    I'm sure Trump knows that cold. I'm also sure he realizes that an educated populace is better for the U.S. than, for instance, large numbers of otherwise qualified people not being able to get some college knowledge.

    However, Trump being Trump and his followers being his followers, it's possible he'll play to their stupidity yet again. And, his followers will eat it up.

    Of course, Trump is smart so he knows appealing to dunderheads isn't how he'd win the general. He'll toss said dunderheads under his bus and there won't be anything they can do about it.

    Replies: @Alec Leamas, @AnAnon

    I don’t think Trump’s followers, dunderheads or no, have much appetite to further subsidize education lending in order to exempt it from normal market forces which dictate creditworthiness and risk.

    Having said this, his interlocutors could point to his entities’ past use of Bankruptcy, whereas education loans are ordinarily not discharegeable in Bankruptcy. (putting aside that commercial lending is much more in the nature of investment than straight consumer lending with which most people are familiar – with interest rates reflecting the risk and relative security positions, etc.).

    • Replies: @24AheadDotCom
    @Alec Leamas

    Alec Leamas writes: I don’t think Trump’s followers, dunderheads or no, have much appetite to further subsidize education lending in order to exempt it from normal market forces which dictate creditworthiness and risk.

    The Teaparty/Trump2016 types do a lot of things that aren't in their own interests. Educating as many eligible people as possible would lead to new developments in doublewide construction techniques and so on, but they'd rather pay back libruls then help themselves.

    AnAnon says "It is important to note that [Trump's] followers come from the groups that are the most discriminated against in terms of getting into colleges and universities. lack of credentials does not necessarily mean stupid."

    I've had hundreds of online conversations with Teaparty/Trump2016 types. Almost without exception they have no integrity, they lie and smear without any sense of shame, they refuse to take responsibility, they want to silence their critics as much as the far-left does, and they're stupid and deranged people. The concept of solving problems is beyond them; they just do things that make them feel good. Trump knows how to touch their gooey centers so they follow him even though he refuses to do what he could do right now to help them out.

    For tangible examples, understand what I want to do and then see my replies on Twitter.

  25. Hey Bernie, the reason it’s structured like that is because higher ed is a racket. Big U and the Feds work together to make this happen. Big U perpetually jacks the cost of education into the realm of Spittle spewing unicorns while getting fat off it and Uncle Sugar provides “college loans” for the fools to attend these institutions in the hopes of obtaining a useless and expensive degree that they can never pay off.

    Hell the HS counselors act as enablers in this, telling everyone has to attend college, even the most intellectually bereft who has no chance of graduating.

    Oh it helped some years back when Bush and company disallowed student loans to be discharged in bankruptcy court. Thereby creating a permanent debtor class.

    Best thing we could do, is stop with the Federal backed student loans and allow students to file for bankruptcy. You’ll watch Big U become a lot more discriminating in who they let attend and watch tuition fees plummet. Oh yeah I hear CALPERS and other state pensions have loads of that paper, should be interesting when the kids start filing their bankruptcy papers.

    • Agree: Jim Don Bob, Clyde
    • Replies: @Olorin
    @rod1963

    What you're overlooking is that the Ed Biz since the 1970s has been a vast source of middle class jobs, careers, and now, adjunct positions that look middle class but pay poverty wages.

    Every other sector with the possible exception of civil service offshored or automated most of its jobs and skimmed the increased native worker productivity in the form of speculative profits. Where I come from--a 70% black Rust Belt city in the 1970s--the only jobs available in my teens and 20s were in higher ed, civil service (mostly very local), and temp agencies. This is, so far as I know, an unexamined socioeconomic trend. That's where I started, till I could get a leg up and get out. Though admittedly I did it without borrowing any money, based on my tradesman father's understanding of interest.

    One of the big engines of the Ed Biz becoming ever more silly is that there are more and more Americans wanting middle class jobs and the lifestyle that implies in their minds. But fewer pathways to that (given few want to become plumbers, electricians, welders, etc.).

    Example: Used to be that a big university might churn out ten philosophy Ph.D.s a year, who'd get teaching jobs at high schools or learn to drive a cab while tutoring bright kids in Latin. One in 100 might get a tenured teaching job at some college.

    Now every big university has philosophy programs in all sorts of nonsense--equality, social justice, racial justice, gender analysis, trannynomics--with the new fashions in Studies Studies rolled out each year via mechanisms such as Black Lies Natter (which seems to focus mostly on reforming education by creating more cradle-to-grave dolt-wrangling sinecures, centers and scholarships).

    The demand for loans has push as well as pull. The real problem is that most people signing on the dotted line don't understand how credit/debt work at any level, and get their ideas about college's value from Ed Biz PR flacks. The latter do a magnificent job of pumping their product. Though most of it involves specious and/or post hoc reasoning. (College grads in the aggregate make more money, on average, than non-grads, therefore it must have been the degree that did it.)

  26. @Lamb
    Shouldn't interest rates just be a function of the probability of defaulting and what kind of collateral goes with the loan?

    Based on that, home and car loan rates should have lower interest rates because the people taking them are more likely to already have jobs.

    Replies: @PenskeFile

    Interest rates are a function of many items in a financing P&L. Net credit losses (what you are referring to as probability of default and collateral) are the most important. You also need to take into account the operating and marketing expenses of the business model (eg mortgages are MUCH more expensive than credit cards) and fee income and other revenue streams.

    Also a factor is interest costs and how the loans are financed. Are they held on-balance sheet, securitized or a little of both? This is important to determine the ultimate metric – Return on Equity. The more you can securitize, the less equity (ie YOUR money) you have to put up and the more income you can make off your invested capital.

    Bernie and his advisors don’t seem to have any clue about any of this. Let’s just make a law that all interest rates need to be the same!!

  27. If anyone guarantees the loans it should be the colleges not the government. Not only would that keep all the parasites from sucking off the public but it would force the schools to stop enrolling feeble minded AA students who they know are destined to fail.

  28. @Alec Leamas
    @Trelane

    Not really. He's blaming the Lenders rather than the real culprits - the Colleges and Universities which set tuition and fees at rates which reflect several multiples of inflation when compared to an index of other goods. The reason he's doing this is that the Colleges and Universities constitute the taxpayer subsidized Leftist-Activist base of the Democratic Party which agitate and advocate for extrademocratic policy changes in the Administrative State and Courts and volunteer time in various Left "movements." The interest charged on Student Loans is historically reasonable and commercially very reasonable considering the fact that the borrower is by nature most often without a history of creditworthiness which would under ordinary circumstances be required to borrow tens of thousands of dollars.

    In truth, I don't think the Left and Democrats are really all that concerned (or, more accurately, are actually enthused) about a sort of class of propagandized, over-credentialed and underemployed young people who are in a state of perpetual student-hood, having not progressed on the formerly usual and customary course of career-marriage-homeownership-parenthood. These perpetual adolescents, including and especially those who have remained in academia as a "career" chasing the too-few tenured professorships (but who are compensated on meager adjunct per-credit bases) never seem to point the finger of blame at the academy but rather serve as activist shock troops motivated by resentment (being most credentialed but least compensated compared to peers) and not tempered by having a vested interest in the normal means and methods of middle class life. These sorts have been around in Europe for quite some time and have proved enormously useful to the political Left over there, I imagine their emerging presence in the U.S. is considered by the Left to be a "feature, not a bug" for like reasons.

    Replies: @ben tillman, @Big Bill

    Not really. He’s blaming the Lenders rather than the real culprits – the Colleges and Universities which set tuition and fees at rates which reflect several multiples of inflation when compared to an index of other goods.

    Right, but not just the colleges. It’s also the central government.

    The reason he’s doing this is that the Colleges and Universities constitute the taxpayer subsidized Leftist-Activist base of the Democratic Party which agitate and advocate for extrademocratic policy changes in the Administrative State and Courts and volunteer time in various Left “movements.”

    So far, so good, but it should be noted that they’re doing it with huge government subsidies.

    The interest charged on Student Loans is historically reasonable and commercially very reasonable considering the fact that the borrower is by nature most often without a history of creditworthiness which would under ordinary circumstances be required to borrow tens of thousands of dollars.

    You left out the fact that the debts are non-dischargeable in bankruptcy.

  29. “when you default on your college loans, cognitive repo men come and take back your knowledge of the the Austro-Hungarian Empire, the Capital Asset Pricing Model, and Post-Structuralism.”

    OMG! What if you don’t possess those valuable assets? What do THEY do to you? This is really scary stuff. Good thing Philip Dick is dead and buried. He is dead and buried, isn’t he? Good thing I never got any student loans. But tuition was a hell of a lot lower when I went to college. What happened?

  30. @Anonymous
    @Jim Sweeney

    Trump knows all about defaulting....

    Replies: @Jim Sweeney, @Big Bill

    Yes, he used legal process to bankrupt and reorganize corporations and investors lost some or all of their risk capital. Happens all the time and is not a personal character flaw. He never personally guaranteed a profit and every investor or lender knew that going in. Sometimes you lose.

    • Agree: ben tillman
  31. “when you default on your college loans, cognitive repo men come and take back your knowledge of the the Austro-Hungarian Empire”

    Good luck finding many recent college graduates with even cursory knowledge of the Austro-Hungarian Empire.

    • Replies: @AmericanaCON
    @Wilkey

    Maybe that is the problem? Today people learn about the Austro-Hungarian Empire instead of learning a trade or skills needed at the market place?

    Replies: @Romanian, @Diversity Heretic

  32. @Trelane
    Bernie's a mench, you couldn't do better than to elect this guy. He's like a Jewish version of Trump. A man of the people standing up to the oligarchs who finance and control American politics. I give both of these men a lot of credit for having the balls in 2015 to stand up to what we're up against. Patriots both of them.

    Replies: @Charles Erwin Wilson, @Hail, @Alec Leamas, @Reg Cæsar, @Grandpa Jack

    Bernie’s a mensch…

    Tell us, how does he keep his state so white? We’d all like to know.

    It’s only 50 miles from Montreal, and 105 from Boston.

    • Replies: @Diversity Heretic
    @Reg Cæsar

    I've lived in Vermont. The weather is brutal--winter starts in November and lasts until March or April. In December 2010 I had to use the snowblower two days out of three just to get out of the garage. Moreover, Vermont is (I think) the most rural state--the biggest city is Burlington, which is about 40,000. All of Chittenden County is 100,000. There are lots of small towns and villages where it's hard for NAMs to get a foothold. But there are surprisingly large NAM communities in Burlington, so just give them time--vibrancy awaits!

    , @Brutusale
    @Reg Cæsar

    Because VT is full of NY urban expats trying to escape the pathologies of their former city. Quite a few are of the Semitic persuasion.

    My nephew at UVM reported an uptick in imported Dindus. He said it makes Burlington YMCA basketball more interesting.

    Replies: @Diversity Heretic

  33. If Bernie Sanders Were a Philip K Dick Character

    Instead of a generic dick character?

    • Agree: Jim Don Bob
    • Replies: @tbraton
    @Reg Cæsar

    Hey, keep it clean. This is a family oriented site.

    Replies: @Reg Cæsar

  34. @Anonymous
    Trump is on record saying he assumes other parties are listening to his phone calls.

    But I wonder if he understands that the same phone that he uses for Twitter can be hacked many different ways so that it eavesdrops when in Airplane Mode or Power Off.

    Also NSA has backdoored most all "secure" government communications thru one company and probably many other companies. That news dropped last week on the ARStechnica website.

    Also the encryption that everyone thinks is safe is actually not safe at all. There was a theory about NSA actually being ahead of all the latest encryption (while playing dumb) back in the 90's. Gradually small slipups/leaks paint a picture over the years that it has always been the case. This is all very much like WWII codebreaking of Nazis but now they are running the same operation on the whole world.

    Anyway if you want to keep a secret today it's very hard to do. I wonder if Trump et all understand just how hard.

    Replies: @Steve Sailer, @5371

    Keeping secrets has always been very hard. That’s why the essential technique has involved a bodyguard of lies.

  35. Anon • Disclaimer says:

    One thing for sure, I think we should stop using the term ‘leftist’ or ‘liberal’ or ‘progressive’.

    We should just call the enemy the ‘globalist elites’ or the ‘glob’ or ‘globs’.

    According to globalist elites, if you celebrate Bruce ‘Caitlyn’ Jenner, you are ‘more evolved’. If you think he is wonky, you are a less evolved subhuman.

    https://www.facebook.com/photo.php?fbid=929741573727857&set=a.297649480270406.62107.100000760684974&type=3&theater

  36. Anonymous • Disclaimer says:

    OT, but the biracial son of a South African politician who was best known for being Winnie Mandela’s boy-toy is trying to get the Cecil John Rhodes statue removed from his Oxford college. Affirmative Action bites again. The anti-white Economic Freedom Fighters, widely assumed to be backed by Winnie, a 30+ year old political science student who flipped the bird to Jacob Zuma and a hapless white liberal academia, especially at the University of Cape Town complete the picture.

    • Replies: @Clyde
    @Anonymous

    OT, but the biracial son of a South African politician who was best known for being Winnie Mandela’s boy-toy is trying to get the Cecil John Rhodes statue removed from his Oxford college. Affirmative Action bites again.


    More on him.
    http://www.dailymail.co.uk/news/article-3377637/Student-says-violent-symbol-French-flags-taken-down.html
    Then, speaking to the Sunday Times Qwabe described Cecil Rhodes as being a 'racist, genocidal maniac' who was 'as bad as Hitler.'
    Supporting a campaign to remove the French flag from universities, Qwabe added: 'I would agree with that in the same way that the presence of a Nazi flag would have to be fought against.'

    Mr Qwabe's student campaign, called Rhodes Must Fall Oxford, says Rhodes paved the path to apartheid by introducing discriminatory land ownership and voting rules.
    It is inspired by the Rhodes Must Fall protest movement that began on in March, originally directed against a statue at the University of Cape Town which commemorates Cecil Rhodes.
    The campaign for the statue's removal received global attention and led to a wider movement to 'decolonise' education across South Africa.
     
  37. @Steve Sailer
    @Anonymous

    "This is all very much like WWII codebreaking of Nazis but now they are running the same operation on the whole world."

    Institutionally, it's pretty much all one effort going back to Bletchley Park, right? The French seem to think it's all one 75-year-long Anglo-Saxon plot to rule the world.

    Replies: @Anonymous, @The Man From K Street

    Institutionally, it’s pretty much all one effort going back to Bletchley Park, right?

    Creating nurturing FSOS false sense of security yes that is the effort that pays off.

    When they gave us the internet maybe what they were thinking was FSOS on an institutional level.

  38. “These sorts have been around in Europe for quite some time and have proved enormously useful to the political Left over there, I imagine their emerging presence in the U.S. is considered by the Left to be a “feature, not a bug” for like reasons.”

    Yes but in Europe there is a generous welfare system and they don’t have to pay interest on loans – they get their degrees for free. The US has enbarked on a neoliberal version of creating graduate undermployment where low-income graduates are stuck in perpetual indebtedness.

    The business sector should really be standing up the government and colleges on this but they seem to be too scared of the potential PR backlash. There is a bit of resistance in the UK where CEOs are warning graduates they won’t get jobs without serious degrees, work experience and good grades but in the rest of the Anglosphere no one is challenging the “”all graduates make more money than non-graduates”mantra.

    • Replies: @AmericanaCON
    @unpc downunder

    It is unreasonable to compare United States, a country, to Europe, a continent. It would even be unreasonable to compare United States with the European Union as the European Union does not have control over its member’s educational system. The Swedish educational system from kindergarten to graduate school is a disaster. Higher education in Sweden is not “free”. There is no such thing as a free lunch. It is paid by taxpayers.

    It is true that tuition is “free”. It is also true you are given grants to cover books and some minor additional cost. However, most students take loans to cover their living expenditures. Swedish students receive their loans from government and not private banks. When students are not enrolled anymore they need repay their loans with intrest. Loans and grants are limited to students below 55 and you need to pass a certain amount of credits to receive loans. You can only receive loans and grants for six years. The income of full time students is set below the minimum income for welfare recipients. It is somewhat compensated through student housing.

    So what is the consequence of “free education” in Sweden? The tuitions hours are set to a minimum to reduce cost. Hence, the standard is one class (90 minutes) and one seminary (90 minutes) a week. Attendance is seldom compulsory. STEM fields have more hours but much less than you would find internationally. The lack of hours became a serious problem when even strong students had difficult to pass exams. The Government could have solved it by expanding hours. Such move cost money so they didn’t. They could also solve it by making it more difficult to be admitted which would mean better students but that went against their socialist/liberal believes. Today, Swedish universities only receive grants for an individual student if he or she passes. The consequence is obvious - very poor students pass with little effort. However, this is just the minor problem.

    The major problem is the immense unemployment and underunemployment among Swedish college and university graduates. In the mid of financial crisis of 1990-1994 – the socialist Swedish government massively expanded higher education to rapidly reduce unemployment. Although it the unemployment was rapidly reduced it came with terrible effects. They expanded mostly programs with little demand because of most of them were cheaper. They did the same thing for STEM programs but didn’t go as far because they cost too much to expand. In the same time they cut quality by reducing lecture to just a few hours a week. The Social Democrats (supported by the liberals) were to give 50 percent of the youngster a university education.

    The Swedish government cut down the bureaucracy and made it more difficult to private corporations to hire through higher taxes, laws and regulations to protect “insiders”. Around 2001 report came in about college graduates ended up in unemployment or underunemployment. It was ignored. The Center-right government elected in 2006 followed with the same politics creating more and more unemployment/underunemployment among college graduates. To house all unemployed college/university graduates the government hires them into positions (mostly as clerks) which just ten years ago was given to high school graduates. However, as Sweden in financial decline and fewer people are hired the problems with unemployed/underunemployed graduates continue to deepen.

    It really doesn’t matter if Bernie Sanders is able to introduce “free” education. There are simply not enough jobs for college graduates anyway. This is what Sanders, Hillary and the liberals in GOP don’t understand. Education is only worth something if it’s in demand. There are plenty of educated people in Africa. It is not lack of universities which holds Africans in poverty. It is the lack of good jobs. You cannot educate your population out of poverty. The sooner the dumb liberal and socialist governments of the world stop believe in education the sooner people will be productive again. Education and job training ought to be provided by the employer and not the government. Just like in the old days.

    Replies: @Clyde, @unpc downunder

  39. If you let Wall St. securitize and tranche student loans I’m sure that students admitted to Stanford MBA programs or UC medical schools would have AAA ratings and very low interest rates. I’d rather have a portfolio of such loans over many state or muni bonds.

    • Replies: @Bill Jones
    @unit472

    I'd lend by Major.
    I'd be long Petrochemical Engineering and short Mexican Dwarf Lesbian Studies.

  40. Readers interested in criticism of the American academy may want to take a look at the e-newsletter put out by the John William Pope Center for Higher Education Policy. I think it’s still named “Clarion Call”. Conservative-libertarian perspective.

    There are also blogs by individual professors, such as University Diaries by Margaret Soltan. Her blogroll lists other professors’ blogs offering insider campus skinny.

    If you’re wondering why the zillions of federal dollars pumped into higher ed haven’t propelled us into some new American golden age, these sources may give you a start to formulating your own answers.

  41. @Reg Cæsar

    If Bernie Sanders Were a Philip K Dick Character
     


    Instead of a generic dick character?

    Replies: @tbraton

    Hey, keep it clean. This is a family oriented site.

    • Replies: @Reg Cæsar
    @tbraton



    Hey, keep it clean. This is a family oriented site.

     

    I wash "it" every morning.

    And "dick character" could mean anyone in the opening verse of "Searchin'":

    Well, Sherlock Holmes
    Sam Spade got nothin', child, on me
    Sergeant Friday, Charlie Chan
    And Boston Blackie
    No matter where she's a hiding
    She's gonna hear me a comin'
    Gonna walk right down that street
    Like Bulldog Drummond


    http://www.songlyrics.com/the-coasters/searchin-lyrics/#bYC73MvLfBORdoa7.99

    Replies: @Jim Don Bob

  42. @Reg Cæsar
    @Trelane


    Bernie’s a mensch…
     
    Tell us, how does he keep his state so white? We'd all like to know.

    It's only 50 miles from Montreal, and 105 from Boston.

    Replies: @Diversity Heretic, @Brutusale

    I’ve lived in Vermont. The weather is brutal–winter starts in November and lasts until March or April. In December 2010 I had to use the snowblower two days out of three just to get out of the garage. Moreover, Vermont is (I think) the most rural state–the biggest city is Burlington, which is about 40,000. All of Chittenden County is 100,000. There are lots of small towns and villages where it’s hard for NAMs to get a foothold. But there are surprisingly large NAM communities in Burlington, so just give them time–vibrancy awaits!

  43. Trump should propose to allow students to discharge their loans in bankruptcy. He’s the perfect person to propose this, given his history. The other candidates reactions would be priceless

  44. There is a dangerous disposition that afflicts Progressives, Leftists, Feminists, Communnists and others (such as Bernie Sanders) who want to restart and remake the “system”. They naturally have a low tolerance for those who disagree that the “system” needs reform and how it should be reformed. Yes, there is a lot of work that has to be done to restart the religious, cultural, social, and economic basis for a society.

    This is not evident right away as they talk about their utopian visions for the just society … damit, if only people would cooperate! Who doesn’t want to be progressive or just? Then comes the totalitarian measures to enforce cooperation and complaince. How about making the opposition guilty of “hate crimes”? What’s wrong with preemptory censorship when it supports the cause? Or, maybe we can disenfranchise people based on their economic class or racial origins … you know, the “White privilege” and “micro-aggression” thing. Makes sense to put this whole thing on the fast track.

    The socialist utopia quickly becomes another failed dystopia. Why do they fail? Perhaps it is because, at the end of the day, all that they really want to do is “cash out” their societies — the historical end game for any otherewise successful nation, culture, or civilization: Seize political power; seize assets and resources via taxation, affirmative action, or forthright confiscation … and redistribute the wealth to your supporters. An appealing utopian vision, is it not!

  45. @unit472
    If you let Wall St. securitize and tranche student loans I'm sure that students admitted to Stanford MBA programs or UC medical schools would have AAA ratings and very low interest rates. I'd rather have a portfolio of such loans over many state or muni bonds.

    Replies: @Bill Jones

    I’d lend by Major.
    I’d be long Petrochemical Engineering and short Mexican Dwarf Lesbian Studies.

  46. AmericanaCON [AKA "Emily Johnsson"] says:
    @unpc downunder
    "These sorts have been around in Europe for quite some time and have proved enormously useful to the political Left over there, I imagine their emerging presence in the U.S. is considered by the Left to be a “feature, not a bug” for like reasons."

    Yes but in Europe there is a generous welfare system and they don't have to pay interest on loans - they get their degrees for free. The US has enbarked on a neoliberal version of creating graduate undermployment where low-income graduates are stuck in perpetual indebtedness.

    The business sector should really be standing up the government and colleges on this but they seem to be too scared of the potential PR backlash. There is a bit of resistance in the UK where CEOs are warning graduates they won't get jobs without serious degrees, work experience and good grades but in the rest of the Anglosphere no one is challenging the ""all graduates make more money than non-graduates"mantra.

    Replies: @AmericanaCON

    It is unreasonable to compare United States, a country, to Europe, a continent. It would even be unreasonable to compare United States with the European Union as the European Union does not have control over its member’s educational system. The Swedish educational system from kindergarten to graduate school is a disaster. Higher education in Sweden is not “free”. There is no such thing as a free lunch. It is paid by taxpayers.

    It is true that tuition is “free”. It is also true you are given grants to cover books and some minor additional cost. However, most students take loans to cover their living expenditures. Swedish students receive their loans from government and not private banks. When students are not enrolled anymore they need repay their loans with intrest. Loans and grants are limited to students below 55 and you need to pass a certain amount of credits to receive loans. You can only receive loans and grants for six years. The income of full time students is set below the minimum income for welfare recipients. It is somewhat compensated through student housing.

    So what is the consequence of “free education” in Sweden? The tuitions hours are set to a minimum to reduce cost. Hence, the standard is one class (90 minutes) and one seminary (90 minutes) a week. Attendance is seldom compulsory. STEM fields have more hours but much less than you would find internationally. The lack of hours became a serious problem when even strong students had difficult to pass exams. The Government could have solved it by expanding hours. Such move cost money so they didn’t. They could also solve it by making it more difficult to be admitted which would mean better students but that went against their socialist/liberal believes. Today, Swedish universities only receive grants for an individual student if he or she passes. The consequence is obvious – very poor students pass with little effort. However, this is just the minor problem.

    The major problem is the immense unemployment and underunemployment among Swedish college and university graduates. In the mid of financial crisis of 1990-1994 – the socialist Swedish government massively expanded higher education to rapidly reduce unemployment. Although it the unemployment was rapidly reduced it came with terrible effects. They expanded mostly programs with little demand because of most of them were cheaper. They did the same thing for STEM programs but didn’t go as far because they cost too much to expand. In the same time they cut quality by reducing lecture to just a few hours a week. The Social Democrats (supported by the liberals) were to give 50 percent of the youngster a university education.

    The Swedish government cut down the bureaucracy and made it more difficult to private corporations to hire through higher taxes, laws and regulations to protect “insiders”. Around 2001 report came in about college graduates ended up in unemployment or underunemployment. It was ignored. The Center-right government elected in 2006 followed with the same politics creating more and more unemployment/underunemployment among college graduates. To house all unemployed college/university graduates the government hires them into positions (mostly as clerks) which just ten years ago was given to high school graduates. However, as Sweden in financial decline and fewer people are hired the problems with unemployed/underunemployed graduates continue to deepen.

    It really doesn’t matter if Bernie Sanders is able to introduce “free” education. There are simply not enough jobs for college graduates anyway. This is what Sanders, Hillary and the liberals in GOP don’t understand. Education is only worth something if it’s in demand. There are plenty of educated people in Africa. It is not lack of universities which holds Africans in poverty. It is the lack of good jobs. You cannot educate your population out of poverty. The sooner the dumb liberal and socialist governments of the world stop believe in education the sooner people will be productive again. Education and job training ought to be provided by the employer and not the government. Just like in the old days.

    • Replies: @Clyde
    @AmericanaCON


    It really doesn’t matter if Bernie Sanders is able to introduce “free” education. There are simply not enough jobs for college graduates anyway. This is what Sanders, Hillary and the liberals in GOP don’t understand. Education is only worth something if it’s in demand. There are plenty of educated people in Africa. It is not lack of universities which holds Africans in poverty. It is the lack of good jobs. You cannot educate your population out of poverty.
     
    This was always true in Latin America and in Europe to a lesser extent. Those students became leftists and were at the core of riots and agitation. United States is moving in the same direction. You are completely correct that it is a jobs thing. More robotics are the future and will make this worse. The Luddites were right but were 200 years premature.
    The elites will control the "means of production" but who will have the money to buy what they produce, import, distribute? I am not a lefty lib by any means but this is what I see.

    The sooner the dumb liberal and socialist governments of the world stop believe in education the sooner people will be productive again. Education and job training ought to be provided by the employer and not the government. Just like in the old days.
     
    The leftists promote more and more education because the education establishment is a jobs program for them. Plus they get to mold more naive brains into favoring leftists and their solutions. The education establishment could care less where the money comes from to pay all those salaries. My take is that most of it comes Federal borrowing and Federal Reserve printing money. State and county borrowing and bonding out school construction. Of course the educats will scream "tax the rich" as the solution
    , @unpc downunder
    @AmericanaCON

    Thanks for the interesting insights on the situation in Sweden. However, I was specifically responding to a comment about governments of the left in Europe creating a client class of underemployed graduates who will always vote liberal-left.

    In parts of Europe, this may have been possible since (up till now) Europeans have been willing to pay much higher taxes than Americans. However, it simply isn't possible in the US since Americans will not tolerate very high levels of taxation (Anglo countries like Britain and Canada sit somewhere in between).

    Trying to create a large client class of under-employed graduates in the US will simply result in massive indebtedness and a lot of angry young people with volatile and unpredictable political views.

  47. @Wilkey
    "when you default on your college loans, cognitive repo men come and take back your knowledge of the the Austro-Hungarian Empire"

    Good luck finding many recent college graduates with even cursory knowledge of the Austro-Hungarian Empire.

    Replies: @AmericanaCON

    Maybe that is the problem? Today people learn about the Austro-Hungarian Empire instead of learning a trade or skills needed at the market place?

    • Replies: @Romanian
    @AmericanaCON

    Speaking as someone who did learn about European history, I think that, had they learned about the Austro-Hungarian Empire, there would be a lot less naivete and enthusiasm for diversity and multiculturalism among the University crowd. A course on Yugoslavia would also help.

    , @Diversity Heretic
    @AmericanaCON

    Like Romanian, a genuine knowledge of the Austro-Hungarian Empire, and of the Ottoman Empire for that matter, has value--a multi-cultural balkanized United States may need to be governed in very nearly the same way. A trade or a skill is also a very good thing to have, but doesn't need a university education, with all the trappings. The problem is that a university liberal arts system designed to accommodate perhaps ten percent of the population, who were so intellectually gifted that they would have little trouble finding gainful employment regardless of what they studied in school, is now being asked to "do something" with perhaps sixty percent of the population, many of whom lack the intellectual capacity to do genuine university-level work.

  48. @George Taylor
    One of my all time favorite quotes is from Philip K. Dick

    "Reality is that which, when you stop believing in it, doesn't go away"

    Replies: @Luke Lea

    George Taylor’s favorite Philip K. Dick quote: “Reality is that which, when you stop believing in it, doesn’t go away”

    E.g. belief in God. You may stop believing in God, but the belief in God doesn’t go away. By this I mean that belief in God has been and remains a tremendous force in history. For example it propels phenomena like Isis, though whether the God of Muhammad is the same God Christians have traditionally believed in — and to a much lesser extent believe in today — is questionable.

    People who don’t believe in God, including most educated people in the West, fail to appreciate these realities. Thus in today’s studies in history, whether in public schools or in our leading universities, it is seldom recognized, let alone explored, that the idea of God is easily the most influential idea in Western intellectual history — accounting for such things as the contemporary liberal idea that all people are pretty much the same everywhere, or the idea, shared by both liberals and conservatives, that political liberty and social justice, including equality under the law, are central to our culture and civilization.

    I don’t expect that many iSteve readers will appreciate this.

    • Replies: @Clyde
    @Luke Lea

    George Taylor’s favorite Philip K. Dick quote: “Reality is that which, when you stop believing in it, doesn’t go away”


    E.g. belief in God. You may stop believing in God, but the belief in God doesn’t go away. By this I mean that belief in God has been and remains a tremendous force in history. For example it propels phenomena like Isis, though whether the God of Muhammad is the same God Christians have traditionally believed in — and to a much lesser extent believe in today — is questionable.

    People who don’t believe in God, including most educated people in the West, fail to appreciate these realities. Thus in today’s studies in history, whether in public schools or in our leading universities, it is seldom recognized, let alone explored, that the idea of God is easily the most influential idea in Western intellectual history — accounting for such things as the contemporary liberal idea that all people are pretty much the same everywhere, or the idea, shared by both liberals and conservatives, that political liberty and social justice, including equality under the law, are central to our culture and civilization.

    I don’t expect that many iSteve readers will appreciate this.
     

    More than you think. I have an average belief in God. Have not prayed much in the last few months. But within six months after the 911 attacks, after I did a lot of self education, I understood exactly what Muhammad and Islam are up to. Self educated mostly at the JihadWatch website. My God-belief helped me accept Muslim's religious motivations and to quickly "get" how powerful they are in the average Muslim's life.
    Meanwhile the typical atheist thinks all religions are equally stupid (they have said this to me) and that only stupid people are religious.


    Some atheists are figuring out that Islam is a greater threat to them than Christianity. Richard Dawkins used to spend time slamming Christianity. These days it is Islam. He even declared The Bible as essential to understanding Western Civilization. That it is worth reading or at least consulting. There are others such as Pat Condell on youtube who gets 200,000 hits on some of his videos which are just him talking for 6-9 minutes.

    Those who believe in God pick up on what Islam is really about a lot quicker. What Islam and Jihad is all about. Their armed Jihad and their slow Jihad of immigration, knocking out babies and demographics.

  49. @Handle
    Maybe they could put a lien on your official transcript. Some schools - including my own alma mater - will do that if you have unpaid bills or parking tickets after graduation.

    You'd be surprised how many organizations won't process a job application or background check unless you have your school send them a new official transcript.

    So if you default on your student loans, the government does the intangible equivalent of repossessing your degree, because in our Kafka-reality you now can't prove them in the official way anymore.

    Actually, let's not give them any ideas. Next time they'll just swipe Tim Hunt's (ability to prove he has a) PhD instead of forcing him into exile in Japan.

    Replies: @Big Bill

    So if you default on your student loans, the government does the intangible equivalent of repossessing your degree, because in our Kafka-reality you now can’t prove them in the official way anymore.

    Internet to the rescue! A new web site, “Records-R-Us”, to which you send a copy of your transcript from your college right after graduation, stores it, and serves it up for the rest of your life as the “official” copy. [I just love this Internet thingie!]

  50. @Anonymous
    Sanders at least got Trump to flip on his call for lower wages:

    http://www.businessinsider.com/donald-trump-bernie-sanders-wages-high-low-2015-12

    After previously saying wages were "too high," Trump instead stressed Monday that they were actually "too low."

    In the Monday-morning tweet, Trump also said that good jobs were "too few" and that people had "lost faith in our leaders."

    The apparent shift came after Sen. Bernie Sanders (I-Vermont), a Democratic presidential candidate, said in a Sunday interview that his message would resonate among Trump's working-class supporters.

    "Look, many of Trump's supporters are a working-class people, and they're angry," Sanders said on CBS' "Face the Nation," according to the show's transcript. "And they're angry because they're working longer hours for lower wages. They're angry because their jobs have left this country and gone to China or other low-wage countries."

    Sanders added: "In fact, he has said that he thinks wages in America are too high."

    Trump first responded Sunday by accusing Sanders of lying:

    [email protected] blew his campaign when he gave Hillary a pass on her e-mail crime, said that I feel wages in America are too high. Lie!
    — Donald J. Trump (@realDonaldTrump) December 27, 2015

    Trump, however, has indeed said that wages — among many other things in the US — are too high.

    In a Fox Business Network debate in November, Trump used his opening statement to say, "Taxes too high, wages too high. We're not going to be able to compete against the world."

    And Trump doubled down on his position during a "Morning Joe" interview the day after that debate.

    "It's a tough position politically," Trump acknowledged on the MSNBC show. "We have to become competitive with the world. Our taxes are too high — our wages are too high. Everything is too high. We have to compete with other countries."
     

    Replies: @Luke Lea

    When Trump said wages are too high I think he meant that the current minimum wage is too high because it makes some people in our society unemployable (teenagers for example). Or maybe he meant that wages were too high given that we haven’t started taxing imports from low-wage countries like China and Mexico because, absent those taxes, American manufacturers are uncompetitive.

    • Replies: @Jackdaw
    @Luke Lea

    I remember when he said that during one of the debates. I'm almost certain that he meant to say that wages are too low and simply mis-spoke.

  51. @Alec Leamas
    @Trelane

    Not really. He's blaming the Lenders rather than the real culprits - the Colleges and Universities which set tuition and fees at rates which reflect several multiples of inflation when compared to an index of other goods. The reason he's doing this is that the Colleges and Universities constitute the taxpayer subsidized Leftist-Activist base of the Democratic Party which agitate and advocate for extrademocratic policy changes in the Administrative State and Courts and volunteer time in various Left "movements." The interest charged on Student Loans is historically reasonable and commercially very reasonable considering the fact that the borrower is by nature most often without a history of creditworthiness which would under ordinary circumstances be required to borrow tens of thousands of dollars.

    In truth, I don't think the Left and Democrats are really all that concerned (or, more accurately, are actually enthused) about a sort of class of propagandized, over-credentialed and underemployed young people who are in a state of perpetual student-hood, having not progressed on the formerly usual and customary course of career-marriage-homeownership-parenthood. These perpetual adolescents, including and especially those who have remained in academia as a "career" chasing the too-few tenured professorships (but who are compensated on meager adjunct per-credit bases) never seem to point the finger of blame at the academy but rather serve as activist shock troops motivated by resentment (being most credentialed but least compensated compared to peers) and not tempered by having a vested interest in the normal means and methods of middle class life. These sorts have been around in Europe for quite some time and have proved enormously useful to the political Left over there, I imagine their emerging presence in the U.S. is considered by the Left to be a "feature, not a bug" for like reasons.

    Replies: @ben tillman, @Big Bill

    These perpetual adolescents, including and especially those who have remained in academia as a “career” chasing the too-few tenured professorships (but who are compensated on meager adjunct per-credit bases) never seem to point the finger of blame at the academy.

    You do not read much. The “Academy” is the FIRST thing they blame, as in “you get big money from the students, yet you only pay us peanuts.”

    • Replies: @anowow
    @Big Bill

    Higher Ed, like much else in our society, suffers from overly staffed managerial cadres and increased documentation requirements, which requires small clerical armies, and wasted money on facilities. Add in the extra costs of diversity and diversity enforcement, and a highly litigious society, and you have major contributors towards high tuition costs. Did I mention college sports? The government as guarantor is simply sealing the deal.

    Comparisons could be made to our health industry. I resent that I subsidize aesthetically pleasing environments for parasitic WHITE, MALE politically centrist deans and coaches, and reception staff at the doctor's office. 2 years back, I had a root canal done overseas for 200 dollars, and the dentist office was clean and pleasant, the staff professional, but not fancy, no architecturally banal, but costly features one associates with recently constructed US hospitals or health centers.

    But if we simply things where will all the management majors go, where else will we find sinecures for deans?

    That and the elitist attitude towards pay for star academics. Arguably, grant generators are worthwhile, but some of the high salaries paid are as inexcusable as the golden parachutes and sweet deals for under-performing CEOs. It just boils down to bragging rights, when most students are simply going through school to try to get a job in our over-populated, overly competitive society- a product not just of the left, but of the Centrist Right. White so-called Greatest Generation, Silents and Boomers, who were given Mayberry by geopolitical fortune and are turning their country into Dickens' London because of their greed and hubris.

    Jewish red diaper babies and Feminist studies majors aren't sending this country down the tube. No more than black lumpenprols. Find some other, more realistic scapegoats, guys.

    I'll believe [mostly white] guys complaining about wasted money the minute I see some serious, permanent cost cutting for the unnecessary Medicare expenditures, the military and athletics.

  52. @Reg Cæsar
    @Trelane


    Bernie’s a mensch…
     
    Tell us, how does he keep his state so white? We'd all like to know.

    It's only 50 miles from Montreal, and 105 from Boston.

    Replies: @Diversity Heretic, @Brutusale

    Because VT is full of NY urban expats trying to escape the pathologies of their former city. Quite a few are of the Semitic persuasion.

    My nephew at UVM reported an uptick in imported Dindus. He said it makes Burlington YMCA basketball more interesting.

    • Replies: @Diversity Heretic
    @Brutusale

    UVM doesn't play football, basketball has a 12-15 person squad and hockey remains lily-white, so sports may not be a problem anytime soon. The bigger problem in Burlington are refugees, although I still can't imagine them hanging around for more than two winters!

    Replies: @Brutusale

  53. You forgot feminist theory…

  54. @Anonymous
    @Jim Sweeney

    Trump knows all about defaulting....

    Replies: @Jim Sweeney, @Big Bill

    Interesting. My lefty relatives have started hitting on the “Trump went bankrupt!” meme quite a bit lately. I guess I am supposed to see it as a character flaw or something.

    When I ask them whether it was Chapter 7, 11, or 13, a reorg or liquidation, they just give a blank look.

    As best I can figure, the bankruptcy talking point was first formulated and circulated back in August or September.

    Oddly enough, they as lefties they condemn the no-bankruptcy-for-college-loans law from a few years ago. As the Brits say, “any stick will do to beat the dog”.

  55. Steve’s original premise was a good joke, but the rest of you seem to be auditioning for the position of Wall Street’s repo men. Does tinkering with loans after the fact have some moral hazard concerns? Sure. However, lenders also bet on the ability of philosophy majors to be able to pay them back. As we all know well, banks never have to face the moral hazard of making bad loans. They either get bailed out by us, or get favors like making student loans undischargeable in bankruptcy.

    Bernie isn’t perfect. If he were, he would be advocating lining up bankster parasites for public guillotining. A loss of a tiny bit of their not-at-all-earned profits isn’t too high a price to pay for social stability.

  56. @Charles Erwin Wilson
    @Trelane

    Really? You want to put a socialist in charge of a federal bureaucracy of true socialist believers and you think that the result will be better off than what we have from "the oligarchs who finance and control American politics"? Have you never heard of tyranny or absolutism? Do you think Sanders won't stomp your face forever with the boot of socialist 'right-thinking'?

    Bernie will enable the jackbooted bureaucrats to ensure that wrong thinking results in the loss not only of your position or business, but also of your house. So if destitution is your desire, or grovelling before your 'superiors' is your preference, then Bernie is your man.

    If you are in doubt about the results, consult the Oregon bakers that were not only deprived of their business, but also their home - just because they wouldn't bake a cake for a privileged minority.

    Replies: @Jim Don Bob

    Speaking of Oregon Bakers and the tolerant Left: https://pjmedia.com/trending/2015/12/29/bakery-pays-135k-for-refusing-to-make-cake-for-gay-wedding.

    Some of the comments are good; can a black refuse to make a cake for the KKK?

  57. @Steve Sailer
    @Anonymous

    "This is all very much like WWII codebreaking of Nazis but now they are running the same operation on the whole world."

    Institutionally, it's pretty much all one effort going back to Bletchley Park, right? The French seem to think it's all one 75-year-long Anglo-Saxon plot to rule the world.

    Replies: @Anonymous, @The Man From K Street

    Institutionally, it’s pretty much all one effort going back to Bletchley Park, right?

    Actually, since the Poles were the ones who first started the hack into the Enigma machines in 1932, they handed off their work to both the British and the French when Warsaw fell in ’39.

    It seems impossible to believe, but the Vichy government thus knew the ULTRA secret throughout the war–and kept it hidden from the Germans just as successfully as the Allies! The charge of collaboration was not 100% fair in all things–Vichy saw itself as doing what it had to do out of patriotism–and the patriotic thing, as far as they were concerned, did not include telling the Nazis everything.

  58. @Big Bill
    @Alec Leamas


    These perpetual adolescents, including and especially those who have remained in academia as a “career” chasing the too-few tenured professorships (but who are compensated on meager adjunct per-credit bases) never seem to point the finger of blame at the academy.
     
    You do not read much. The "Academy" is the FIRST thing they blame, as in "you get big money from the students, yet you only pay us peanuts."

    Replies: @anowow

    Higher Ed, like much else in our society, suffers from overly staffed managerial cadres and increased documentation requirements, which requires small clerical armies, and wasted money on facilities. Add in the extra costs of diversity and diversity enforcement, and a highly litigious society, and you have major contributors towards high tuition costs. Did I mention college sports? The government as guarantor is simply sealing the deal.

    Comparisons could be made to our health industry. I resent that I subsidize aesthetically pleasing environments for parasitic WHITE, MALE politically centrist deans and coaches, and reception staff at the doctor’s office. 2 years back, I had a root canal done overseas for 200 dollars, and the dentist office was clean and pleasant, the staff professional, but not fancy, no architecturally banal, but costly features one associates with recently constructed US hospitals or health centers.

    But if we simply things where will all the management majors go, where else will we find sinecures for deans?

    That and the elitist attitude towards pay for star academics. Arguably, grant generators are worthwhile, but some of the high salaries paid are as inexcusable as the golden parachutes and sweet deals for under-performing CEOs. It just boils down to bragging rights, when most students are simply going through school to try to get a job in our over-populated, overly competitive society- a product not just of the left, but of the Centrist Right. White so-called Greatest Generation, Silents and Boomers, who were given Mayberry by geopolitical fortune and are turning their country into Dickens’ London because of their greed and hubris.

    Jewish red diaper babies and Feminist studies majors aren’t sending this country down the tube. No more than black lumpenprols. Find some other, more realistic scapegoats, guys.

    I’ll believe [mostly white] guys complaining about wasted money the minute I see some serious, permanent cost cutting for the unnecessary Medicare expenditures, the military and athletics.

    • Agree: Jim Don Bob
  59. @Alec Leamas
    Steve, I guess the Devil's Advocate would reply that the loans are non-dischargeable in Bankruptcy (this is technically not true in every case*). The Devil's Devil's Advocate would reply that one can't squeeze blood from a stone.

    My plan for a better student loan system would require the (very well endowed) educational institutions themselves to hold the loan debt for a definite period after matriculation (maybe five years), after which time the loans could be sold to private lenders with interest rates set according to the individual graduate's creditworthiness at that time to replenish the supply of loan money (but capped in the original loan docs). If the borrower is not creditworthy and no private lenders will assume the loans within the agreed range, the educational institution is stuck with the distressed loans, thus (at least theoretically) reducing the available loan money for future borrowers at that institution. Since the educational institutions stand in the shoes of a commercially reasonable Lender, they should exercise more discretion about whom they admit, what courses of study are available, and whether and to what extent money will be lent for courses of study unlikely to result in some marketable skills. We'd probably see far fewer Baristas with Masters Degrees at least.

    President Leamas would also publish a yearly maximum tuition, room and fees schedule for full-time students indexed against an array of consumer goods. The United States would not prohibit any institution from charging tuition in excess of this yearly schedule, however the tax-exempt status of the institutions would rely upon the charge of tuition, room and fees at or below the schedule. 501(c)(3) tax-exempt entities are supposed to offer a significant proportion of their services for a reduced fee or no fee to fulfill their tax-exempt educational or charitable purpose. It simply does not make sense for the United States to heavily directly and indirectly subsidize exclusive country clubs for the children of elites to network. Since the most elite institutions are more or less hedge funds which make hundreds of millions if not billions annually tax exempt, they'd have the most incentive to get realistic about the sticker prices they charge - and since they set the perception of quality with their published tuition and fees, it would have a salutary effect on the less elite institutions.

    * I believe that if disability can be demonstrated to the Bankruptcy Court educational debt can be discharged.

    Replies: @Romanian

    Thank you. This was a very interesting comment. I shall borrow from it, liberally… get it? 😉

  60. @24AheadDotCom
    @Jim Sweeney

    I'm sure Trump knows that cold. I'm also sure he realizes that an educated populace is better for the U.S. than, for instance, large numbers of otherwise qualified people not being able to get some college knowledge.

    However, Trump being Trump and his followers being his followers, it's possible he'll play to their stupidity yet again. And, his followers will eat it up.

    Of course, Trump is smart so he knows appealing to dunderheads isn't how he'd win the general. He'll toss said dunderheads under his bus and there won't be anything they can do about it.

    Replies: @Alec Leamas, @AnAnon

    “However, Trump being Trump and his followers being his followers, it’s possible he’ll play to their stupidity yet again. And, his followers will eat it up.” – It is important to note that his followers come from the groups that are the most discriminated against in terms of getting into colleges and universities. lack of credentials does not necessarily mean stupid.

    “I’m also sure he realizes that an educated populace is better for the U.S. than, for instance, large numbers of otherwise qualified people not being able to get some college knowledge.” – then he’ll pull disparate impact, which will eliminate their monopoly on signaling, and cause the price of an education to fall.

    The left controls these institutions and has created the monstrosity they’ve become, anything to rectify what they’ve done is to our benefit.

  61. @AmericanaCON
    @Wilkey

    Maybe that is the problem? Today people learn about the Austro-Hungarian Empire instead of learning a trade or skills needed at the market place?

    Replies: @Romanian, @Diversity Heretic

    Speaking as someone who did learn about European history, I think that, had they learned about the Austro-Hungarian Empire, there would be a lot less naivete and enthusiasm for diversity and multiculturalism among the University crowd. A course on Yugoslavia would also help.

  62. @tbraton
    @Reg Cæsar

    Hey, keep it clean. This is a family oriented site.

    Replies: @Reg Cæsar

    Hey, keep it clean. This is a family oriented site.

    I wash “it” every morning.

    And “dick character” could mean anyone in the opening verse of “Searchin’”:

    Well, Sherlock Holmes
    Sam Spade got nothin’, child, on me
    Sergeant Friday, Charlie Chan
    And Boston Blackie
    No matter where she’s a hiding
    She’s gonna hear me a comin’
    Gonna walk right down that street
    Like Bulldog Drummond

    http://www.songlyrics.com/the-coasters/searchin-lyrics/#bYC73MvLfBORdoa7.99

    • Replies: @Jim Don Bob
    @Reg Cæsar

    Dashiell Hammet's (https://en.wikipedia.org/wiki/Dashiell_Hammett) books featuring his Continental Op are quite good. Lots of guns and saps and stuff. Makes Phillip Marlowe look like a pansy. Not that there is anything wrong with that. He also went to jail rather than rat out his fellow Commies. Gotta respect that.

  63. @AmericanaCON
    @unpc downunder

    It is unreasonable to compare United States, a country, to Europe, a continent. It would even be unreasonable to compare United States with the European Union as the European Union does not have control over its member’s educational system. The Swedish educational system from kindergarten to graduate school is a disaster. Higher education in Sweden is not “free”. There is no such thing as a free lunch. It is paid by taxpayers.

    It is true that tuition is “free”. It is also true you are given grants to cover books and some minor additional cost. However, most students take loans to cover their living expenditures. Swedish students receive their loans from government and not private banks. When students are not enrolled anymore they need repay their loans with intrest. Loans and grants are limited to students below 55 and you need to pass a certain amount of credits to receive loans. You can only receive loans and grants for six years. The income of full time students is set below the minimum income for welfare recipients. It is somewhat compensated through student housing.

    So what is the consequence of “free education” in Sweden? The tuitions hours are set to a minimum to reduce cost. Hence, the standard is one class (90 minutes) and one seminary (90 minutes) a week. Attendance is seldom compulsory. STEM fields have more hours but much less than you would find internationally. The lack of hours became a serious problem when even strong students had difficult to pass exams. The Government could have solved it by expanding hours. Such move cost money so they didn’t. They could also solve it by making it more difficult to be admitted which would mean better students but that went against their socialist/liberal believes. Today, Swedish universities only receive grants for an individual student if he or she passes. The consequence is obvious - very poor students pass with little effort. However, this is just the minor problem.

    The major problem is the immense unemployment and underunemployment among Swedish college and university graduates. In the mid of financial crisis of 1990-1994 – the socialist Swedish government massively expanded higher education to rapidly reduce unemployment. Although it the unemployment was rapidly reduced it came with terrible effects. They expanded mostly programs with little demand because of most of them were cheaper. They did the same thing for STEM programs but didn’t go as far because they cost too much to expand. In the same time they cut quality by reducing lecture to just a few hours a week. The Social Democrats (supported by the liberals) were to give 50 percent of the youngster a university education.

    The Swedish government cut down the bureaucracy and made it more difficult to private corporations to hire through higher taxes, laws and regulations to protect “insiders”. Around 2001 report came in about college graduates ended up in unemployment or underunemployment. It was ignored. The Center-right government elected in 2006 followed with the same politics creating more and more unemployment/underunemployment among college graduates. To house all unemployed college/university graduates the government hires them into positions (mostly as clerks) which just ten years ago was given to high school graduates. However, as Sweden in financial decline and fewer people are hired the problems with unemployed/underunemployed graduates continue to deepen.

    It really doesn’t matter if Bernie Sanders is able to introduce “free” education. There are simply not enough jobs for college graduates anyway. This is what Sanders, Hillary and the liberals in GOP don’t understand. Education is only worth something if it’s in demand. There are plenty of educated people in Africa. It is not lack of universities which holds Africans in poverty. It is the lack of good jobs. You cannot educate your population out of poverty. The sooner the dumb liberal and socialist governments of the world stop believe in education the sooner people will be productive again. Education and job training ought to be provided by the employer and not the government. Just like in the old days.

    Replies: @Clyde, @unpc downunder

    It really doesn’t matter if Bernie Sanders is able to introduce “free” education. There are simply not enough jobs for college graduates anyway. This is what Sanders, Hillary and the liberals in GOP don’t understand. Education is only worth something if it’s in demand. There are plenty of educated people in Africa. It is not lack of universities which holds Africans in poverty. It is the lack of good jobs. You cannot educate your population out of poverty.

    This was always true in Latin America and in Europe to a lesser extent. Those students became leftists and were at the core of riots and agitation. United States is moving in the same direction. You are completely correct that it is a jobs thing. More robotics are the future and will make this worse. The Luddites were right but were 200 years premature.
    The elites will control the “means of production” but who will have the money to buy what they produce, import, distribute? I am not a lefty lib by any means but this is what I see.

    The sooner the dumb liberal and socialist governments of the world stop believe in education the sooner people will be productive again. Education and job training ought to be provided by the employer and not the government. Just like in the old days.

    The leftists promote more and more education because the education establishment is a jobs program for them. Plus they get to mold more naive brains into favoring leftists and their solutions. The education establishment could care less where the money comes from to pay all those salaries. My take is that most of it comes Federal borrowing and Federal Reserve printing money. State and county borrowing and bonding out school construction. Of course the educats will scream “tax the rich” as the solution

  64. @AmericanaCON
    @unpc downunder

    It is unreasonable to compare United States, a country, to Europe, a continent. It would even be unreasonable to compare United States with the European Union as the European Union does not have control over its member’s educational system. The Swedish educational system from kindergarten to graduate school is a disaster. Higher education in Sweden is not “free”. There is no such thing as a free lunch. It is paid by taxpayers.

    It is true that tuition is “free”. It is also true you are given grants to cover books and some minor additional cost. However, most students take loans to cover their living expenditures. Swedish students receive their loans from government and not private banks. When students are not enrolled anymore they need repay their loans with intrest. Loans and grants are limited to students below 55 and you need to pass a certain amount of credits to receive loans. You can only receive loans and grants for six years. The income of full time students is set below the minimum income for welfare recipients. It is somewhat compensated through student housing.

    So what is the consequence of “free education” in Sweden? The tuitions hours are set to a minimum to reduce cost. Hence, the standard is one class (90 minutes) and one seminary (90 minutes) a week. Attendance is seldom compulsory. STEM fields have more hours but much less than you would find internationally. The lack of hours became a serious problem when even strong students had difficult to pass exams. The Government could have solved it by expanding hours. Such move cost money so they didn’t. They could also solve it by making it more difficult to be admitted which would mean better students but that went against their socialist/liberal believes. Today, Swedish universities only receive grants for an individual student if he or she passes. The consequence is obvious - very poor students pass with little effort. However, this is just the minor problem.

    The major problem is the immense unemployment and underunemployment among Swedish college and university graduates. In the mid of financial crisis of 1990-1994 – the socialist Swedish government massively expanded higher education to rapidly reduce unemployment. Although it the unemployment was rapidly reduced it came with terrible effects. They expanded mostly programs with little demand because of most of them were cheaper. They did the same thing for STEM programs but didn’t go as far because they cost too much to expand. In the same time they cut quality by reducing lecture to just a few hours a week. The Social Democrats (supported by the liberals) were to give 50 percent of the youngster a university education.

    The Swedish government cut down the bureaucracy and made it more difficult to private corporations to hire through higher taxes, laws and regulations to protect “insiders”. Around 2001 report came in about college graduates ended up in unemployment or underunemployment. It was ignored. The Center-right government elected in 2006 followed with the same politics creating more and more unemployment/underunemployment among college graduates. To house all unemployed college/university graduates the government hires them into positions (mostly as clerks) which just ten years ago was given to high school graduates. However, as Sweden in financial decline and fewer people are hired the problems with unemployed/underunemployed graduates continue to deepen.

    It really doesn’t matter if Bernie Sanders is able to introduce “free” education. There are simply not enough jobs for college graduates anyway. This is what Sanders, Hillary and the liberals in GOP don’t understand. Education is only worth something if it’s in demand. There are plenty of educated people in Africa. It is not lack of universities which holds Africans in poverty. It is the lack of good jobs. You cannot educate your population out of poverty. The sooner the dumb liberal and socialist governments of the world stop believe in education the sooner people will be productive again. Education and job training ought to be provided by the employer and not the government. Just like in the old days.

    Replies: @Clyde, @unpc downunder

    Thanks for the interesting insights on the situation in Sweden. However, I was specifically responding to a comment about governments of the left in Europe creating a client class of underemployed graduates who will always vote liberal-left.

    In parts of Europe, this may have been possible since (up till now) Europeans have been willing to pay much higher taxes than Americans. However, it simply isn’t possible in the US since Americans will not tolerate very high levels of taxation (Anglo countries like Britain and Canada sit somewhere in between).

    Trying to create a large client class of under-employed graduates in the US will simply result in massive indebtedness and a lot of angry young people with volatile and unpredictable political views.

  65. In The Paycheck, some of the thoughts of the character Jennings do sound rather like Sanders:

    The Special Police were everywhere.

    Everywhere? Not quite. When an individual person was defenseless, a business was not. The big economic forces had managed to remain free, although virtually everything else had been absorbed by the Government. Laws that had been eased away from the private person still protected property and industry. The SP could pick up any given person, but they could not enter and seize a company, a business. That had been clearly established in the middle of the twentieth century.

    Business, industry, corporations, were safe from the Security Police. Due process was required. Rethrick Construction was a target of SP interest, but they could do nothing until some statute was violated. If he could get back to the Company, get inside its doors, he would be safe. Jennings smiled grimly. The modern church, sanctuary. It was the Government against the corporation, rather than the State against the Church. The new Notre Dame of the world. Where the law could not follow.

  66. @AmericanaCON
    @Wilkey

    Maybe that is the problem? Today people learn about the Austro-Hungarian Empire instead of learning a trade or skills needed at the market place?

    Replies: @Romanian, @Diversity Heretic

    Like Romanian, a genuine knowledge of the Austro-Hungarian Empire, and of the Ottoman Empire for that matter, has value–a multi-cultural balkanized United States may need to be governed in very nearly the same way. A trade or a skill is also a very good thing to have, but doesn’t need a university education, with all the trappings. The problem is that a university liberal arts system designed to accommodate perhaps ten percent of the population, who were so intellectually gifted that they would have little trouble finding gainful employment regardless of what they studied in school, is now being asked to “do something” with perhaps sixty percent of the population, many of whom lack the intellectual capacity to do genuine university-level work.

  67. @Brutusale
    @Reg Cæsar

    Because VT is full of NY urban expats trying to escape the pathologies of their former city. Quite a few are of the Semitic persuasion.

    My nephew at UVM reported an uptick in imported Dindus. He said it makes Burlington YMCA basketball more interesting.

    Replies: @Diversity Heretic

    UVM doesn’t play football, basketball has a 12-15 person squad and hockey remains lily-white, so sports may not be a problem anytime soon. The bigger problem in Burlington are refugees, although I still can’t imagine them hanging around for more than two winters!

    • Replies: @Brutusale
    @Diversity Heretic

    I'm acquainted with Catamount athletics; I even remember Taylor Coppenrath. Hence my term "imported Dindus", as well as "Burlington YMCA".

    They seem to have adapted to the winters in the Twin Cities and Lewiston/Portland Maine over the past 5 years, and I don't think the winds off Champlain, as wicked as they are, will harsh their mellow of free American stuff, as well as the availability of dreadlocked, neo-hippie nubiles.

    Didn't a Muzzie get a sign about bacon removed from some space in front of a restaurant in Winooski, VT last year?

    Replies: @Reg Cæsar

  68. @Anonymous
    OT, but the biracial son of a South African politician who was best known for being Winnie Mandela's boy-toy is trying to get the Cecil John Rhodes statue removed from his Oxford college. Affirmative Action bites again. The anti-white Economic Freedom Fighters, widely assumed to be backed by Winnie, a 30+ year old political science student who flipped the bird to Jacob Zuma and a hapless white liberal academia, especially at the University of Cape Town complete the picture.

    Replies: @Clyde

    OT, but the biracial son of a South African politician who was best known for being Winnie Mandela’s boy-toy is trying to get the Cecil John Rhodes statue removed from his Oxford college. Affirmative Action bites again.

    More on him.
    http://www.dailymail.co.uk/news/article-3377637/Student-says-violent-symbol-French-flags-taken-down.html
    Then, speaking to the Sunday Times Qwabe described Cecil Rhodes as being a ‘racist, genocidal maniac’ who was ‘as bad as Hitler.’
    Supporting a campaign to remove the French flag from universities, Qwabe added: ‘I would agree with that in the same way that the presence of a Nazi flag would have to be fought against.’

    Mr Qwabe’s student campaign, called Rhodes Must Fall Oxford, says Rhodes paved the path to apartheid by introducing discriminatory land ownership and voting rules.
    It is inspired by the Rhodes Must Fall protest movement that began on in March, originally directed against a statue at the University of Cape Town which commemorates Cecil Rhodes.
    The campaign for the statue’s removal received global attention and led to a wider movement to ‘decolonise’ education across South Africa.

  69. @Luke Lea
    @George Taylor

    George Taylor's favorite Philip K. Dick quote: “Reality is that which, when you stop believing in it, doesn’t go away”

    E.g. belief in God. You may stop believing in God, but the belief in God doesn't go away. By this I mean that belief in God has been and remains a tremendous force in history. For example it propels phenomena like Isis, though whether the God of Muhammad is the same God Christians have traditionally believed in -- and to a much lesser extent believe in today -- is questionable.

    People who don't believe in God, including most educated people in the West, fail to appreciate these realities. Thus in today's studies in history, whether in public schools or in our leading universities, it is seldom recognized, let alone explored, that the idea of God is easily the most influential idea in Western intellectual history -- accounting for such things as the contemporary liberal idea that all people are pretty much the same everywhere, or the idea, shared by both liberals and conservatives, that political liberty and social justice, including equality under the law, are central to our culture and civilization.

    I don't expect that many iSteve readers will appreciate this.

    Replies: @Clyde

    George Taylor’s favorite Philip K. Dick quote: “Reality is that which, when you stop believing in it, doesn’t go away”

    E.g. belief in God. You may stop believing in God, but the belief in God doesn’t go away. By this I mean that belief in God has been and remains a tremendous force in history. For example it propels phenomena like Isis, though whether the God of Muhammad is the same God Christians have traditionally believed in — and to a much lesser extent believe in today — is questionable.

    People who don’t believe in God, including most educated people in the West, fail to appreciate these realities. Thus in today’s studies in history, whether in public schools or in our leading universities, it is seldom recognized, let alone explored, that the idea of God is easily the most influential idea in Western intellectual history — accounting for such things as the contemporary liberal idea that all people are pretty much the same everywhere, or the idea, shared by both liberals and conservatives, that political liberty and social justice, including equality under the law, are central to our culture and civilization.

    I don’t expect that many iSteve readers will appreciate this.

    More than you think. I have an average belief in God. Have not prayed much in the last few months. But within six months after the 911 attacks, after I did a lot of self education, I understood exactly what Muhammad and Islam are up to. Self educated mostly at the JihadWatch website. My God-belief helped me accept Muslim’s religious motivations and to quickly “get” how powerful they are in the average Muslim’s life.
    Meanwhile the typical atheist thinks all religions are equally stupid (they have said this to me) and that only stupid people are religious.

    Some atheists are figuring out that Islam is a greater threat to them than Christianity. Richard Dawkins used to spend time slamming Christianity. These days it is Islam. He even declared The Bible as essential to understanding Western Civilization. That it is worth reading or at least consulting. There are others such as Pat Condell on youtube who gets 200,000 hits on some of his videos which are just him talking for 6-9 minutes.

    Those who believe in God pick up on what Islam is really about a lot quicker. What Islam and Jihad is all about. Their armed Jihad and their slow Jihad of immigration, knocking out babies and demographics.

    • Agree: CJ
  70. @Hail
    @Trelane


    He’s like a Jewish version of Trump. A man of the people standing up to the oligarchs
     
    NumbersUSA Immigration Grades

    F Clinton
    F Sanders
    A- Trump
    A- Cruz (on paper)
    D Rubio

    Replies: @Trelane, @Dave Pinsen

    It’s likely the true views of Trump and Sanders on immigration are closer than those grades suggest. Both have been driven to opposite sides to appeal to their electorates.

    Somewhat related to this, Fredrik DeBoer had a blog post this week ( http://fredrikdeboer.com/2015/12/22/yes-virginia-there-is-a-left-wing-reform-movement/ ) lamenting that obnoxious political correctness was getting in the way of leftism achieving its goals. He doesn’t seem to grok the difficulty of reconciling the goals of identity politics and traditional labor socialism though.

  71. @Reg Cæsar
    @tbraton



    Hey, keep it clean. This is a family oriented site.

     

    I wash "it" every morning.

    And "dick character" could mean anyone in the opening verse of "Searchin'":

    Well, Sherlock Holmes
    Sam Spade got nothin', child, on me
    Sergeant Friday, Charlie Chan
    And Boston Blackie
    No matter where she's a hiding
    She's gonna hear me a comin'
    Gonna walk right down that street
    Like Bulldog Drummond


    http://www.songlyrics.com/the-coasters/searchin-lyrics/#bYC73MvLfBORdoa7.99

    Replies: @Jim Don Bob

    Dashiell Hammet’s (https://en.wikipedia.org/wiki/Dashiell_Hammett) books featuring his Continental Op are quite good. Lots of guns and saps and stuff. Makes Phillip Marlowe look like a pansy. Not that there is anything wrong with that. He also went to jail rather than rat out his fellow Commies. Gotta respect that.

  72. @Diversity Heretic
    @Brutusale

    UVM doesn't play football, basketball has a 12-15 person squad and hockey remains lily-white, so sports may not be a problem anytime soon. The bigger problem in Burlington are refugees, although I still can't imagine them hanging around for more than two winters!

    Replies: @Brutusale

    I’m acquainted with Catamount athletics; I even remember Taylor Coppenrath. Hence my term “imported Dindus”, as well as “Burlington YMCA”.

    They seem to have adapted to the winters in the Twin Cities and Lewiston/Portland Maine over the past 5 years, and I don’t think the winds off Champlain, as wicked as they are, will harsh their mellow of free American stuff, as well as the availability of dreadlocked, neo-hippie nubiles.

    Didn’t a Muzzie get a sign about bacon removed from some space in front of a restaurant in Winooski, VT last year?

    • Replies: @Reg Cæsar
    @Brutusale


    Didn’t a Muzzie get a sign about bacon removed from some space in front of a restaurant in Winooski, VT last year?
     
    Isn't Winooski the only municipality in Vermont with an Indian name? That's interesting in itself.

    Replies: @Brutusale

  73. @Luke Lea
    @Anonymous

    When Trump said wages are too high I think he meant that the current minimum wage is too high because it makes some people in our society unemployable (teenagers for example). Or maybe he meant that wages were too high given that we haven't started taxing imports from low-wage countries like China and Mexico because, absent those taxes, American manufacturers are uncompetitive.

    Replies: @Jackdaw

    I remember when he said that during one of the debates. I’m almost certain that he meant to say that wages are too low and simply mis-spoke.

  74. @Alec Leamas
    @24AheadDotCom

    I don't think Trump's followers, dunderheads or no, have much appetite to further subsidize education lending in order to exempt it from normal market forces which dictate creditworthiness and risk.

    Having said this, his interlocutors could point to his entities' past use of Bankruptcy, whereas education loans are ordinarily not discharegeable in Bankruptcy. (putting aside that commercial lending is much more in the nature of investment than straight consumer lending with which most people are familiar - with interest rates reflecting the risk and relative security positions, etc.).

    Replies: @24AheadDotCom

    Alec Leamas writes: I don’t think Trump’s followers, dunderheads or no, have much appetite to further subsidize education lending in order to exempt it from normal market forces which dictate creditworthiness and risk.

    The Teaparty/Trump2016 types do a lot of things that aren’t in their own interests. Educating as many eligible people as possible would lead to new developments in doublewide construction techniques and so on, but they’d rather pay back libruls then help themselves.

    AnAnon says “It is important to note that [Trump’s] followers come from the groups that are the most discriminated against in terms of getting into colleges and universities. lack of credentials does not necessarily mean stupid.”

    I’ve had hundreds of online conversations with Teaparty/Trump2016 types. Almost without exception they have no integrity, they lie and smear without any sense of shame, they refuse to take responsibility, they want to silence their critics as much as the far-left does, and they’re stupid and deranged people. The concept of solving problems is beyond them; they just do things that make them feel good. Trump knows how to touch their gooey centers so they follow him even though he refuses to do what he could do right now to help them out.

    For tangible examples, understand what I want to do and then see my replies on Twitter.

  75. wacky world

  76. @rod1963
    Hey Bernie, the reason it's structured like that is because higher ed is a racket. Big U and the Feds work together to make this happen. Big U perpetually jacks the cost of education into the realm of Spittle spewing unicorns while getting fat off it and Uncle Sugar provides "college loans" for the fools to attend these institutions in the hopes of obtaining a useless and expensive degree that they can never pay off.

    Hell the HS counselors act as enablers in this, telling everyone has to attend college, even the most intellectually bereft who has no chance of graduating.

    Oh it helped some years back when Bush and company disallowed student loans to be discharged in bankruptcy court. Thereby creating a permanent debtor class.

    Best thing we could do, is stop with the Federal backed student loans and allow students to file for bankruptcy. You'll watch Big U become a lot more discriminating in who they let attend and watch tuition fees plummet. Oh yeah I hear CALPERS and other state pensions have loads of that paper, should be interesting when the kids start filing their bankruptcy papers.

    Replies: @Olorin

    What you’re overlooking is that the Ed Biz since the 1970s has been a vast source of middle class jobs, careers, and now, adjunct positions that look middle class but pay poverty wages.

    Every other sector with the possible exception of civil service offshored or automated most of its jobs and skimmed the increased native worker productivity in the form of speculative profits. Where I come from–a 70% black Rust Belt city in the 1970s–the only jobs available in my teens and 20s were in higher ed, civil service (mostly very local), and temp agencies. This is, so far as I know, an unexamined socioeconomic trend. That’s where I started, till I could get a leg up and get out. Though admittedly I did it without borrowing any money, based on my tradesman father’s understanding of interest.

    One of the big engines of the Ed Biz becoming ever more silly is that there are more and more Americans wanting middle class jobs and the lifestyle that implies in their minds. But fewer pathways to that (given few want to become plumbers, electricians, welders, etc.).

    Example: Used to be that a big university might churn out ten philosophy Ph.D.s a year, who’d get teaching jobs at high schools or learn to drive a cab while tutoring bright kids in Latin. One in 100 might get a tenured teaching job at some college.

    Now every big university has philosophy programs in all sorts of nonsense–equality, social justice, racial justice, gender analysis, trannynomics–with the new fashions in Studies Studies rolled out each year via mechanisms such as Black Lies Natter (which seems to focus mostly on reforming education by creating more cradle-to-grave dolt-wrangling sinecures, centers and scholarships).

    The demand for loans has push as well as pull. The real problem is that most people signing on the dotted line don’t understand how credit/debt work at any level, and get their ideas about college’s value from Ed Biz PR flacks. The latter do a magnificent job of pumping their product. Though most of it involves specious and/or post hoc reasoning. (College grads in the aggregate make more money, on average, than non-grads, therefore it must have been the degree that did it.)

  77. Of course it makes sense- its market distortion from the govt involvement in extending loans to cover everyone

  78. @Trelane
    Bernie's a mench, you couldn't do better than to elect this guy. He's like a Jewish version of Trump. A man of the people standing up to the oligarchs who finance and control American politics. I give both of these men a lot of credit for having the balls in 2015 to stand up to what we're up against. Patriots both of them.

    Replies: @Charles Erwin Wilson, @Hail, @Alec Leamas, @Reg Cæsar, @Grandpa Jack

    Well considering how many college grads these days are “luftmensch” , Bernie would be a good “man of the people” for them at least

  79. @Trelane
    @Hail

    I'd give them all an 'F' on immigration. None of them get it.

    But I'd agree with you that Sanders in lost in outer space on this issue. Trump's the better candidate here.

    Replies: @AndrewR

    I strongly suspect you’re a troll, but I’ll bite:

    How on earth would Trump get an F?

  80. @Brutusale
    @Diversity Heretic

    I'm acquainted with Catamount athletics; I even remember Taylor Coppenrath. Hence my term "imported Dindus", as well as "Burlington YMCA".

    They seem to have adapted to the winters in the Twin Cities and Lewiston/Portland Maine over the past 5 years, and I don't think the winds off Champlain, as wicked as they are, will harsh their mellow of free American stuff, as well as the availability of dreadlocked, neo-hippie nubiles.

    Didn't a Muzzie get a sign about bacon removed from some space in front of a restaurant in Winooski, VT last year?

    Replies: @Reg Cæsar

    Didn’t a Muzzie get a sign about bacon removed from some space in front of a restaurant in Winooski, VT last year?

    Isn’t Winooski the only municipality in Vermont with an Indian name? That’s interesting in itself.

    • Replies: @Brutusale
    @Reg Cæsar

    My brother got married in Quechee, VT, and the innkeeper at the Quechee Inn told me the name was an abbreviation of the Abnaki name for the area, Ottauquechee.

    For Steve, staying at the Inn back in the day gave you temporary membership at the Quechee Club. Scenic vistas galore!

    http://www.quecheeclub.com/

  81. @Reg Cæsar
    @Brutusale


    Didn’t a Muzzie get a sign about bacon removed from some space in front of a restaurant in Winooski, VT last year?
     
    Isn't Winooski the only municipality in Vermont with an Indian name? That's interesting in itself.

    Replies: @Brutusale

    My brother got married in Quechee, VT, and the innkeeper at the Quechee Inn told me the name was an abbreviation of the Abnaki name for the area, Ottauquechee.

    For Steve, staying at the Inn back in the day gave you temporary membership at the Quechee Club. Scenic vistas galore!

    http://www.quecheeclub.com/

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