In Mish's Global Economic Trend Analysis, Subprime Goes to College; Students Buried in Debt; Who is to Blame? requires another look from the socioeconomic perspective.
College's once spoiled rich-kids--the ones whose parents pay the entire way while the kids think for themselves and study, party or drop-out, drop-in and/or graduate--has quickly become a thing of the past. I'll be the first to say that although I did graduate from college, I did so as a spoiled rich kid who never had to worry about paying for college.
In full disclosure, I went to college, partied too much, left school in an unfocused "daze of glory" and then returned, wiser-for-the-wear to much more focused behavior, hours in the library reading, better grades and then graduation.
Well, the "Animal House" experience is a thing of the past, and now that colleges know this--as Howard Beale said in "Network"--who's to say what shit they're going to peddle for truth in these "higher" educational institutions.
The whole point of a liberal arts education is to learn how to think for yourself. Sure, a person my age--in his mid-forties--can say to himself (or herself as the case was with someone in a past class) that this is what the professor wants to see so here it is and I'll take my A, thank you.
Is that free thinking? Yes. Because she and some others have the wisdom to see behind the bullshit, learn and get the damn degree for more pay--or, today, just to have a job.
What about the kids who now need to think like professors--sometimes intelligent and nurturing of free thinkers and sometimes egomaniacal failures who posture themselves as experts but never had a real job in their lives (just look at Larry Summers).
The latter knows they can manipulate the system and student minds because the same kids have been under constant pressure to succeed all their lives, and they can't stop now that they're near the finish line with $100,000 of pressure debt on the line.
In a lifetime of A or B-grade necessity, rittalin medication, and no time to lie down and think, thinking for yourself rather than the system gets lost somewhere between Sarah Palin and Elizabeth Warren.
For that reason, we find decisions made that have no logic behind them; we find the egomaniacal "masters of the universe" creating sovereign debt defaults while the U.S. public paying the bill says, "What can we do? I need a job to pay off all the debt I've accumulated or everything I've worked for all my life is worth bupkus."
Come on. This is why our kids don't feel good about themselves...because unless they're part of the chosen few to run this country, they are powerless to any possible change. They can vote for the compromiser every November forced to make decisions based on the campaign contributions given to them.
Slaves to debt are not free thinkers. They're idiots who make decisions based on selfish reasons and not on logic ideals for the good of the country. It's not that Obama has bad ideals because he doesn't. But he has to work with groups of people who can't think for themselves and we, frustrated Americans, get to vote for the next loser to make stupid decisions to water down laws that the public wants and feed the banking system for its own wealth and gain.
It is almost a self-fulfilling prophecy that this system will stop. How--we do not know--but we all may be a little wiser for the wear.
One way to look at free thinking wrapped around personal behavior? Take a look at investors. The Tokyo Exchange yesterday went straight up after its Prime Minister left office--stayed that way for much of the day--and dropped to the same number it started at. Why are investors free thinkers? They have money and they don't want to lose it.
As the European contagion continues its spread--now stopped at Spain with France first in line outside of the PIIGS countries--look for very scared investors to run for Treasuries.
While this may be good for the 10-year Treasury Yields, don't be so sure that mortgage rates will decline as favorably as they should because spreads can widen--the same crap that happened about two weeks ago. Spreads widen, yields fall, rates stay about where they are.
What? Give the public any kind of break to refinance their home other than "moral hazards?" Can't do that. Now, the question is, are our professors Elizabeth Warren's out there or are they Larry Summer's type. Will college students even know the difference? Will they care?
In this society, thinking for yourself risks madness, so not many do. But that was one advantage the baby boomers had when they protested during the Civil Rights marches and the Vietnam War marches. The feminist protests and the gay rights parades.
Baby boomers were free thinkers until they had to earn a living and became material in the 1980's with families and, of course, debt slaves. For that reason, they know truth, they did not want to acknowledge it and now many are frustrated with a volatile market, increasing levels of unemployment and overtaxed from limited resources.
So, what are you going to do about it? Oh, right, make the future generation pay for it. That's okay, because they won't protest. They can't. Too busy texting messages to friends while working off their student debt. And what are they actually thinking about? Their future?
Way to go boomers! Toga, toga!
2 comments:
I suppose we all discard our personal effects and could go sit by a Theroux-esque pond; would that would be the modern equivalent of "free thinking".
Albert Brooks tried to do it in "Lost in America" but failed, but I never really figured out if he was happy that he failed to achieve the freedom for which he searched.
If you ask me, there are still free thinkers out there, and most of them just think of new ways to manipuate the "debt thinkers" as you call them.
The problem is, as I see it, I don't really have a problem with it. Maybe that's the problem! Or maybe not.
That thinking just cost me $257.89. Oh bother.
dgatorfan2579,
Your comments are well put but were even better put offline for two reasons:
First, you didn't misspell Thoreau. Here is a dime to call your mother, tell her you have no chance of being a Spelling Bee champion. I'm paraphrasing from The Paper Chase of course.
Second, you would have said "brother" instead of "bother."
But I'm not here to bury you but to praise you. Before you think you're Julius Caeser or something, I did think about this entry...or, should I say, rethink this entry.
Here's the paragraph I had the biggest problem with:
"Slaves to debt are not free thinkers. They're idiots who make decisions based on selfish reasons and not on logic ideals for the good of the country. It's not that Obama has bad ideals because he doesn't. But he has to work with groups of people who can't think for themselves and we, frustrated Americans, get to vote for the next loser to make stupid decisions to water down laws that the public wants and feed the banking system for its own wealth and gain."
I think my connection from "free thinker" to "debt slaves" was mistaken and "when I'm wrong I say I'm wrong." (That was Jerry Orbach, the father in Dirty Dancing.)
Free thinkers can be debt slaves, but unless an individual lives within his or her means, they do compromise their status in society. Therefore, we must hold back our free speech lest we get fired or get no money for schooling.
In our offline discussion, you said a student in debt is more of a free thinker because they need to be more mature about their college education, even if that means saying the professor is right when they know he or she is wrong. That was an excellent point which I had to rethink and revise. You're absolutely correct.
Also, many people are not in debt and still want to keep their jobs without the risk of entrepreneurial intent.
Absolutely. I'm one of those people and this blog is perfect for me to relay free speech, as it is for millions of anonymous people. But don't think for a second I'm the same person (or anyone is the same person offline from online). Granted, it depends who I speak with.
Also, I am a slave to debt--only one debt right now--my mortgage. If it was not for that, the thought of becoming an entrepreneur (or, in laymen's terms, a freelancer) would be much more appealing. Does that keep me from free thinking. No sir, it does not. However, it does bar me from certain righteous actions that I might take in the real world.
However, we all need to live somewhere and even rent is a form of debt. A house is, indeed, an investment and once paid off, then we can conceivably have no debt at all (other than health, auto and property insurance, taxes, electricity bills, gas bills, etc.). We can also retain a high credit rating which can be much-needed in this society.
You see, in the real world, young baby boomers protested because they had nothing to lose. In this world, young people are texting, emailing and writing in blogs. And, they have alot to lose.
Which method is more effective?
This method of online email cost you $257.89, probably because you were playing online poker and missed a hand.
Granted, the cost for a trip to Washington, D.C. for a good old-fashioned one million person march and protest may cost more, but the reward might also provide greater internal satisfaction.
RM
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