Another excellent article by Charles Hugh Smith.
Some excerpts:
Thanks to the Central State's partnership with the Education Cartel, student loans cannot be dismissed even in bankruptcy. This makes them unique in the world of credit and debt.
The largest for-profit, the University of Phoenix, graduates less than 10% of its students within 10 years.
Expecting the system to reform itself is a futile fantasy. Expecting tuition costs to double every few years and students to fill the gap with another trillion dollars in borrowed money is not just self-defeating for society, it is rapacious. Courtesy of the excellent dshort.com, here is a chart of inflation from 2000 to Q1 2011. In a low-inflation decade, tuition has more than doubled. This is the acme of unsustainability. Students loans are the only sector of credit which is expanding, and they now exceed $900 billion.
You're not going to escape debt-serfdom passively accepting passage to the slaughterhouse. You'll have to demand radical changes of institutions and fiefdoms which "came to do good and stayed to do well," and demand an affordable education for the real world instead of a gatekeeper's worthless stamp of approval.
Education is a key component of the "radical changes" that I've proposed here at IntegralJournal.
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