After all, when it comes to lying, let's not be ridiculous
This Just In via Bloomberg:
Speaking of ridiculous, 70% of Americans saw their real median wages decline 9% since 1979 i.e. those without a degree. Those with a degree, saw a 23% total increase which equates to .63% per year.
Meanwhile, Inflation-adjusted Federal Debt Grew 550% since 1979 i.e. 5.5% compounded annually for 35 years.
As we see, the adults left the building in 1980, when the Friedman/Reagan amateur show started:
As we see, the adults left the building in 1980, when the Friedman/Reagan amateur show started:
Inflation-adjusted Corporate profits have grown 260% or 10x as much as wages in that timespan:
Obama's subprime: Student Loan Debt
Every recent President has to find their own unique way to screw the middle class
A 35% annualized gain since 2008. Today's ROI on a college degree is deeply negative.
Rolling Jubilee
A new activist group is looking to raise money to buy down student loan debt at cents on the dollar in the open market. So far, they've raised $700k and written off $18 million in face value loans. Securitized student loan debt trades at a massive discount to face value - due to the fact that jobless graduates can't pay it back:
"John Aspray, national field director at the United States Student Association (USSA), said recent changes in law mean people in medical or gambling debt can declare themselves bankrupt - but to do so for student debt means satisfying an '"undue hardship" criteria, which is very difficult to prove"
"Success" summarized:
Wages without a degree -9%, wages with a degree +23%, debt +550%, profits +260%, debt-enslaved college grads, and by far worst of all - thousands of factories and two centuries of intellectual property sold by one generation.
