Since my last blog on the subject, student loans are reported to now be up to $1.5 trillion. With public sector accounting, this $1.5 trillion does not show on the government books. Interesting?
We know that many of the kids who took out these student loans, now find that they can not ever pay back their student loans. Doesn't that mean these loans were not good investments in the first place? Why don't we hear more about the stupid kids who took out these loans and the stupid banks who gave out the loans? Remember that us tax payers promised the banks that if the loans to these kids went bad, us tax payers would pay the banks back. Does this give you a good idea why the banks turned off their brains when they gave out the loans? This is the same kind of game that the FHA did on home loans and who bailed them out? It was us tax payers. It is almost always the case that when the government is involved in any business or banking decision process, the process ends up making bad decisions.
You know me and how I always find that the answers to what appears to be a complex is some very simple concept. When I was about 8 or 9 years old, one of my uncles told me that, "you should never buy food on credit". He had gone thru the Great Depression and the Dust Bowl and I think that he purchased food at the "company" store and found it almost impossible to ever get his account paid off. To my way of thinking, paying for college with borrowed money is a very risky proposition. What do you really have after you graduate or God for bid you drop out without graduating. You not only have to make up for the lost earnings while you were in college, you have to make enough extra to pay off your loan with a little interest. I don't think that 90% of the kids or their parents can do the simple math to figure out if the college loan was a good investment or not. I know that 99% of high school career advisor can't.
It is a simple concept that if you want to optimize any system that you can not make bad decisions and ever expect to attain the quality of life that you could have had you made good decisions. The other fact is that you can "never" attain the high level that you could have if you had not made the bad decision in the first place. You can never really totally over come a bad decision.
Based on Obama being a Judas who wants to destroy the USA, making bad decisions like bad student loans is a perfect way to squander the wealth of the USA and help destroy the USA. Stupid people think that Obama is doing a good thing when he is actually sticking a knife in their back down the road. This is how a smart Judas goes about doing his job. It is always the same. It is not until the Judas leads you up to the edge of the Grand Canyon that you realize how easy it is going to be for him to push you that last inch to your death.
PS----See how long of a list you can make of the actions of Obama that actually makes the USA stronger. I have a good friend whose husband is very sick and needs constant care. She is working 24 hours a day to care for him. That is good, but if she does not take care of herself, it will not be long before she can't take care of her husband either. It is the same with this country. If we let Obama run it down the toilet trying to save the world from Global Warming, we will not be able to help anyone including our own children.
