The College Loan Fraud
Remember the massive Housing Bubble together with all those illegal foreclosures? Well get ready for much, much more but in an even greater way. This time it will be the Austerity Sledge-Hammer that is about to smash the ruins of the entire area that surrounds Colleges and student loans.
“In many parts of the country local governments are being forced to layoff or cut the salaries of thousands of emergency personnel. Education spending cuts across debt behemoths like California, Illinois and Michigan are forcing elementary and high school classrooms to capacities exceeding thirty or forty students at a time and removing subjects like art, music and physical education from school schedules. Towns and cities all over America are declaring bankruptcy on an almost weekly basis. Government sponsored health care systems are feeling the pressure with major cuts in access to key prescription medications quickly becoming the norm.
Just two years ago the idea that austerity cuts would hit America like an 8-pound sledgehammer was inconceivable.
Today it’s become quite apparent, especially for those just entering college or returning to higher education in an effort to learn new skills for a dying or dead jobs market.
In addition to nearly $1 billion in state funding cuts for college students, the progressive State of California and others are now facing massive jobs cuts and salary reductions across the board.
This is only going to get worse – it can be no other way:” (1)
Ah but this is NOT the whole story, not by a long shot! What happened during the Home Mortgage Crisis when the banks began buying up underwater mortgages and bad loans by the millions: Those ‘loans’ were split-up and then repackaged into toxic deficit packages of completely worthless stocks that were sold and resold until no one could ever prove who “owned” the original properties that were being foreclosed upon. The exact same thing is what is about to happen to the student-loans-crisis, but on a far larger scale than the home-loan-fiasco.
Millions of homes were foreclosed upon, many were illegally stolen from their owners before it was realized that the banks could not prove that they actually owned the properties which were being foreclosed on. The same thing is about to happen with the student loans that will be broken up and then reoffered as derivative-investment stocks, but without the ability to prove who actually owns the real papers that were signed before the banks began their savagely criminal shell-game that wiped out the paper trail which is needed to prove who actually owes what to who! So if you liked the Housing Bubble you’re going to love the College Loan Scandal!
“Despite their best hopes for change, it’s not a question of “if further cuts are required,” but rather, “when” those cuts will take place.
In fact, those cuts are taking place now, as evidenced by the half a million California college students sitting on the sidelines. As this college tuition bubble detonates, so too will the thousands of jobs it supports. As we noted in the summer of 2010, we can expect local and state governments to lay off at least 2 million people, which will further accelerate the depressionary feedback loop.”
As if this still needs to be pointed out:
Colleges and Universities are nothing but TRASH now, and this the government has known since long before they planned the total collapse of the nation. The government has known that there are no jobs and will never be more jobs here since Ronald Reagan began outsourcing the entire country back in the1980’s. Consequently the government’s continuing program to enroll students into the criminally corrupted student loans program that has always been a fraud upon both the nation and the students, as well as those who have signed up for these ‘student-loans” even before college loans became an entirely criminal affair: Before our colleges actually offered anyone anything of value in this world without a future. This was planned by the Rothschild’s the Ford Foundation, and all the so-called charity groups along with the banksters to end any form of a real education; before WWI—but the two World Wars interrupted their long range plans to turn Americans into Amerikans that can no longer even read.
What is brewing now is the wholesale dumping of the College Student Loans programs, from the original lending banks and the government into Sallie Mae where they will be combined and reoffered as ‘educational-derivatives’ that will be picked up by the banks again so that they can go broke again and seek more bailout funds to cover the new and catastrophic losses that need never have been possible in the first place.
The whole thing will be done via the interest-rates charged against these loans which are routinely altered upward and which are hugely responsible for college dropouts and defaults once the costs of getting an education have become stratospheric—thanks largely to the government’s manipulation of the caps that have now been placed on obtaining a student loan in the first place (jumping from 3.5 % to 6.5%, just recently). When Sallie Mae can no longer handle this already present catastrophic influx of bad debt; then this whole thing will kick back to the government and AGAIN the taxpayer’s will be stuck with the bill.
So the government learned, from the Housing-Bomb, how to create yet another “OPPORTUNITY’ to bleed the public dry and this time to shaft the so-called students and the public with not just a non-education for non-existent jobs—but how to get the public to pay for all of this—as if this were an unanticipated DISASTER. The truth is this was planned from the start, and the government together with the banks must answer for all this massively impending fraud and theft.
This goes far beyond CYNICAL, because the debt created by these college-loans can never be escaped: Even death will not end this individualized-crime, because thanks to congress, the relatives of the “students” will be held liable for this DEBT, even after they have died!
Americans are broke and going hungry, states have no money or credit left to fund the deluge of services they’ve committed to over the last three decades, and the Federal government is running unprecedented deficits and debt.
There is no help coming, regardless of how loud Occupy Wall street Protestors scream for free education, healthcare and more jobs.
We are seeing massive cuts – to the tune of tens of billions of dollars – in services that have become essential to stable functioning of the nation’s economy. In due time austerity will rear it’s ugly head in government safety nets that include federal retirement distributions, pensions, food and nutritional assistance and essential medical services.”
They’ll protest when they can’t fund their college educations or homes. They’ll scream loudly when they can’t find jobs. But when they can’t feed their families or provide life saving medical care they’ll riot in the streets.
The force of the sledgehammer is starting to hit and the pain is going to be brutal and without mercy. (1)
And in addition to the fraud and all the debt to be created the whole structure of formal education is riddled with WASTE and corruption led by a mid-range group of administrators that can barely read or speak; and they can reap $165,000 a year or more, each.
But the dream that colleges are selling is empty—totally devoid of any real possibilities for any kind of future except maybe manual labor, because that’s all that’s left between the alien-waves of bodies and the government that finances all of those bodies to take the few jobs that remain for those that still can’t find work.
And there’s another far more serious problem: We are graduating bodies that have no real-life work experience, only the freshly printed diploma’s and degrees that are worthless without any work experience whatsoever—and that is still too often the case.
All we have succeeded in creating is a whole new class of idiots that can’t be employed, rubbing shoulders with the many that will work for next to nothing just to try and stay afloat. Inbetween all that government has chosen to insert this new nightmare, coupled with what will soon become a new pool for draftees that will have no choice but the military, because there will very soon be NO JOBS AT ALL, at any price. The system has already come full circle. All that remains is for reality to confirm the truth of this massive FRAUD, and the monstrosity of the impending DEBT that this will saddle many with for the rest of their lives!
So far to go in a world that will soon become bereft of any light whatsoever; and by then no one will have anything or even the strength to fight even a small part of these continuing nightmares which continue to ravage any and all possibilities for any thoughts about surviving; in a world where disease, death, and pollution will very soon remove most if not all real choices in this thing we still call life—even though all of that died way back in the twentieth century along with most of the jobs that no longer exist today… (2)
Supposedly there are all these new jobs waiting for the graduates, which the next generation will be depending on: but that’s a cruel joke, because there will be no new jobs—which is why there cannot be a future for this place until the current-leadership is GONE!
1) Austerity Sledgehammer: At least Half a Million College Students on Waiting Lists, as Loans Dry Up
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