Un-preparing the future with the higher education bubble – graduating students with more debt and with degrees that have little demand in the marketplace. For-profits now account for nearly 10 percent of all undergraduate enrollment when in 1997-98 they accounted for 3 percent.
The higher education bubble only continues to spiral out of control because the profits are so good for the massive banking industry that is pushing student loan debt to the trillion dollar level. At the same time the return on investment in education has been slowly diluted as more for-profit degrees enter the market place […]
The walking debt – U.S. public debt now surpasses $15 trillion. The financial sector has wreaked disaster in the American economy. Wall Street banks cause havoc in housing and student loans.
It can be argued that the world is suffering from an epidemic of chronic debt. The financial sector loves to play on words and would rather call certain debt issues as a credit crisis as if it were a temporary thing like a mid-life crisis. This is also similar to renaming junk bonds to something […]
The glory of debt spending and casino financial markets. What is the typical income, tax situation, and household income for Americans? Americans claiming student loan deduction surges from 4 million to 10 million in roughly one decade. According to IRS AGI needs to be above $1 million to qualify for top one percent.
This weekend I spent time digging through IRS and Social Security data to get a better perspective on working and middle class Americans. I find it amazing that in a consumer driven economy, meaning we live to spend in some respect that the media never even bothers to focus on household incomes. Even on self […]
Crossing the student debt point of no return – for-profit colleges have default rates now rivaling subprime mortgage debt. $1 trillion in student loan debt on the horizon while college graduate wages fall for the decade.
The student loan market is back in the news as it makes its unrelenting march to the $1 trillion mark. This crippling figure comes in the face of a decade of lost wages for middle class Americans. Just like the housing bubble people were supplementing a disappearing middle class with more debt. The allure of […]