The Great College Loan Swindle

America as a country has evolved in recent decades into a confederacy of widescale industrial scams. The biggest slices of our economic pie – sectors like health care, military production, banking, even commercial and residential real estate – have become crude income-redistribution schemes, often untethered from the market by subsidies or bailouts, with the richest companies benefiting from gamed or denuded regulatory systems that make profits almost as assured as taxes. Guaranteed-profit scams – that’s the last thing America makes with any level of consistent competence.

Going to college doesn’t guarantee a good job, far from it, but the data show that not going dooms most young people to an increasingly shallow pool of the very crappiest, lowest-paying jobs. There’s a lot of stick, but not much carrot, in the education game.

An interesting point of view and well worth reading.  Click here for the full Rolling Stone article.

 

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Use Spare Older Workers to Overcome ‘Labour Shortages’ – naked capitalism

Rather than relying on mass immigration to fill phantom ‘labour shortages’ – in turn displacing both young and older workers alike – the more sensible policy option is to moderate immigration and instead better utilise the existing workforce as well as use automation to overcome any loss of workers as the population ages – as has been utilised in Japan.

Source: Use Spare Older Workers to Overcome ‘Labour Shortages’ | naked capitalism

The referenced article describes the situation in Australia but is a worthwhile read for those of us in the US.

“Spare older workers”.  I like that.

What Is CamperForce? – WIRED

Chuck and Barb found that they had a lot in common with their fellow workers, who came from all corners of the United States. Many had seen their retirement savings vanish in the stock market or had lost homes to foreclosure. Others had watched businesses go under or grappled with unemployment and ageism. A larger number had become full-time RVers or vandwellers because they could no longer afford traditional housing—what they called “sticks and bricks.” They talked about how Social Security wasn’t enough to cover the basic necessities and about the yoke of debt from every imaginable source: medical bills, maxed-out credit cards, even student loans.

Source: What Is CamperForce? Amazon’s Nomadic Retiree Army | WIRED

I was delighted and surprised when I found Nomadland by Jessica Bruder available for loan at my local library.  So I downloaded the book and have been reading stories of the forgotten victims of the 2008 financial crisis.  I feel lucky and blessed to be where I am at the present time.  Life for me could have turned out a lot like the people profiled in this book.

The New Reality of Old Age in America – Washington Post

retirement

Source: The new reality of old age in America – Washington Post

The present standard of retiring somewhere between ages 60 and 70 is not going to be sustainable when half the population lives to 80 or 90 – which is already realistic today – let alone 100 or more. It’s just not possible. If you’re like me, you don’t intend to retire at 70 or maybe not at all, but it’s nice to know we have the option. Future generations won’t.

John Mauldin

I refuse to extrapolate the stories of two families profiled in the linked Washington Post article but will readily admit the author may be on to something.  The cartoon was not part of the article but ran in my local newspaper’s Sunday Comics.  So I put the two together and the picture is anything but funny.

So what happens when you  look at sales figures for RV’s in the US?  Yeah…wow.

I guess it’s pretty tough out there for some.  The sad thing is it’s going to get a lot tougher.

The Retirement Myth.  It’s a new hashtag.

I found some pretty sound advice here.  Scroll down to the bottom of the article.