June 9th, 2011

moon

My Bailout is Next--or Student Loan Debtor's Prison

http://www.thepetitionsite.com/takeaction/652/965/447/?z00m=19981889

This is a petition asking for student loan debt to be forgiven so that we can go about the business of opening new businesses, instead of getting low paying stupid jobs just to be able to make monthly payments on our student loans. I've been saying for a while now that the student loan debt is the next bubble. Last year student loan debt surpassed credit card debt in the US. It's evident to me that I will probably not live long enough to repay my entire debt--I'm just not that young, and the economy is not looking great. I'm not saying I deserve a bailout: I own my foolishness taking on this debt. I'm willing to work hard for the rest of my productive life, and I'd like to give back. I always wanted to be a doctor. I've never had a debt before, and it was and is an uncomfortable decision. If there were prisons for debtors in the US then I wouldn't be too surprised to end up there. But we don't imprison debtors, we just harass them. It is that harassment and the suffering involved in mindless work that I would like to avoid, in favor of being able to concentrate on the business I would like to open, and the people that I would like to help. If the fed were to excuse my debt, I would be able to do more for public health than I otherwise could do.
moon

The Zombie Economy

Here's the text of a speech given by Richard Heinberg (the peak oil guy) to a set of college grads about entering the world as it exists today----on the downslope of the production curve. His words are oriented at helping them get past the denial that grips their parents, and "make the best of it".

... if you apply the critical thinking skills that you’ve learned here at WPI to an examination of the relevant data, you’ll probably come to the same conclusion as has been reached by the overwhelming majority of scientists who have studied all of these questions in great depth. Indeed, the scientific community is nearly unanimous in assessing that the Earth is warming, and that the only credible explanation for this is rising levels of CO2 from the burning of fossil fuels. That kind of consensus is hard to achieve among scientists except in situations where a conclusion is overwhelmingly supported by evidence.