The academic bubble is about to burst, while scholars in their infinite wisdom tell us that they know best how to run our society and civilization, don’t you think that is strange? They seem to have not tidied up their own house and yet they want our entire country to function as one giant college campus, interesting indeed. These same scholars want to tell us how to vote, redistribute wealth, and how to think, well, I think doomsday is just around the corner, and I’m afraid what’s to come won’t be pretty. No, I don’t want to be the one to say; “I told you.” Surely, there are others with more followers on social networks who see the reality of the situation to spread that slap when the time comes. Okay, let’s talk, shall we?
40% of student loans are in technical default (90 days in the back with no further agreement to catch up on payments). That’s $ 583 billion in delinquent loans that we may never see repayment of. Believe me when I tell you that the college loan bubble has burst and it is an extreme crisis. Why is this allowed to continue? Well, if it stops, it will collapse academia, become a huge problem for our federal government, add over 1/2 trillion to our $ 20 trillion national debt, and cause the millennial angst that the Democrats have almost promised. ” Free University for All “during the 2016 presidential elections.
Still, by the time the elections are over, student loan debt will be $ 1.57 trillion, despite official figures claiming it’s only $ 1.2 trillion, which was actually the figure before the start of the year. academic 2015.
If you don’t see the enormity of the problem, let’s talk about the auto industry right now. It turns out that the number of “subprime” auto loan defaults is at another all-time high of 4.5%, meaning subprime loans made to those without proof of ability to pay or marginal credit ratings, perhaps from low-end borrowers. socioeconomic. The last time this happened, the auto industry crashed and needed a big bailout, and now we’re hitting those same numbers, and we realize this is only 4.5%, not 40-50% like the loan problem. students.
Scared yet? Well, today is Halloween 2016, and I am, and no, there will be no good witches flying on their brooms to win the next election to use the hocus pocus and make this problem go away; in fact, both presidential candidates are in the car loan problem is likely to get worse, as well as the student loan debt problem, not to mention that our stock market is breaking all-time highs with PE indices and major stock index records.