Taxpayers Face $435 Billion in Student-Loan Losses

Taxpayers face a loss of $435 billion on the $1.37 trillion in student loans on the government’s financial statement at the beginning of this year, even if no additional loans are issued going forward, according to an internal study by the Department of Education, reported by the Wall Street Journal which reviewed the documents. Most of the losses would come from the already established income-based repayment programs and the debt forgiveness at the end of their term.

But who ultimately got this money, since students were just the conduit? The educational-financial-industrial complex, of course, the entities that have lined up to clean out the taxpayer via these student loans. Billionaires have been printed in the process, enabled and encouraged by the government since 2009. Any solution to the student-loan crisis needs to include measures that shut down that money-transfer and return the government’s role in student loans to where it had been before 2009.

Taxpayers Face $435 Billion in Student-Loan Losses, Already Baked in: Leaked Education-Department Study — https://wolfstreet.com/2020/11/22/taxpayers-face-435-billion-in-student-loan-losses-already-baked-in-department-of-education-study/

And let’s not forget who The Great Enabler was behind the college leaders’ lack of caring for their students College Presidents Fail to Protect Students from Covid-19 – College Clusterfuck Update 11.22.20. Politicians, of course.

We. Are. Doomed.

Diets Don’t Work so Why Are More Teens Dieting?

Well, my first thought was Body Dysmorphic Disorder (BDD) — https://adaa.org/understanding-anxiety/related-illnesses/other-related-conditions/body-dysmorphic-disorder-bdd. But this is merely an educated guess from an insurance guy who has lost 200 pounds and not a trained licensed practicing clinical psychiatrist.

In 2015, 42% of 14-year-old girls and boys said they currently were trying to lose weight, compared to 30% in 2005.

Lead author Dr Francesca Solmi (UCL Psychiatry) said: “Our findings show how the way we talk about weight, health and appearance can have profound impacts on young people’s mental health, and efforts to tackle rising obesity rates may have unintended consequences.

“An increase in dieting among young people is concerning because experimental studies have found that dieting is generally ineffective in the long term at reducing body weight in adolescents, but can instead have greater impacts on mental health. We know, for instance, that dieting is a strong risk factor in the development of eating disorders.”

University College London. “Dieting and weight worries on rise in teens.” ScienceDaily. http://www.sciencedaily.com/releases/2020/11/201116112855.htm (accessed November 21, 2020). — https://www.sciencedaily.com/releases/2020/11/201116112855.htm

And in case you made it this far on this blog post my estimated BMI at age 20 was 53.1. My current BMI is 25.1.

Can 2020 Get Any Worse? (si)

Until now, there had been only one confirmed case of Chapare virus, an Ebola-like illness that turned up in the rural Bolivian province of Chapare in 2004 and then disappeared. But in 2019, at least five more people caught the bug, according to research now made public. The virus spread from person to person through bodily fluids in a region near Bolivia’s capital city of La Paz, killing three people. There are no active outbreaks of Chapare in 2020, and even in the event of further outbreaks the virus would be unlikely to cause a pandemic, according to virus experts.

There are reasons to be concerned about the news, however. Three of the five confirmed patients from the 2019 outbreak were health care workers, according to a CDC statement; a “young medical resident,” an ambulance medic and a gastroenterologist all contracted Chapare after contact with bodily fluids from infected patients. Two of them died.

Deadly hemorrhagic fever in Bolivia can spread between people — https://www.livescience.com/chapare-virus-human-transmission.htm

In my next life I want to come back as an Infectious Disease specialist.

Covid-19 Data and Rapid Testing

Rapid Covid-19 tests are being deployed by the millions across the nation. The federal government is sending these tests, which can provide results in minutes, to states for educators, students, nursing home patients, first responders, and other sites. That’s a good thing. But in a rush to get individual test results, we’re making a dangerous public health mistake: We’re losing critical data about Covid-19.

For months, the U.S. has struggled to get accurate information about Covid-19 cases and testing about different demographic groups. As rapid tests surge — and are performed at sites that don’t follow specific Covid-19 data reporting processes — even more information will be lost.

The hidden public health hazard of rapid Covid-19 tests — https://www.statnews.com/2020/11/05/rapid-covid-19-tests-hidden-public-health-hazard/?utm_campaign=rss

Colleges’ Opening Fueled 3,000 COVID Cases a Day (College Clusterfuck Update)

The study, done jointly by researchers at the University of North Carolina-Greensboro, Indiana University, the University of Washington and Davidson College, tracked cellphone data and matched it to reopening schedules at 1,400 schools, along with county infection rates.

Colleges’ Opening Fueled 3,000 COVID Cases a Day, Researchers Say — https://khn.org/news/colleges-opening-fueled-3000-covid-cases-a-day-researchers-say/

A majority of young adults in the U.S. live with their parents for the first time since the Great Depression

In July, 52% of young adults resided with one or both of their parents, up from 47% in February, according to a new Pew Research Center analysis of monthly Census Bureau data. The number living with parents grew to 26.6 million, an increase of 2.6 million from February. The number and share of young adults living with their parents grew across the board for all major racial and ethnic groups, men and women, and metropolitan and rural residents, as well as in all four main census regions. Growth was sharpest for the youngest adults (ages 18 to 24) and for White young adults.

A majority of young adults in the U.S. live with their parents for the first time since the Great Depression — https://pewrsr.ch/351SVs1

And to think the number of young people living with their parents was based upon data from July. This percentage will go higher since a lot of kids are moving back home from college earlier than expected.

The problem with college during the coronavirus pandemic is not just what’s happening on campuses and in college towns. It’s also that colleges may end up spreading the virus to dozens of other communities. In recent weeks, as students have returned to campus, thousands have become infected. And some colleges have responded by sending students home, including those known to have the virus.

Last week, after hundreds of students came down with the virus, the State University of New York at Oneonta ended in-person classes and sent students home. Colorado College, North Carolina State, James Madison (in Virginia) and Chico State (in California) have taken similar steps. At Illinois State, Georgia Tech and the University of Georgia, administrators have encouraged some students who have tested positive to leave campus, so they don’t infect other students, and return home.

These decisions to scatter students — rather than quarantine them on campus — have led to widespread criticism. “It’s the worst thing you could do,” Dr. Anthony Fauci, the federal government’s leading infectious-disease expert, said on NBC. “When you send them home, particularly when you’re dealing with a university where people come from multiple different locations, you could be seeding the different places with infection.” – Zach Morin, a University of Georgia student, told WXIA, a local television station, “Once it is open and people are there and spreading it, it doesn’t make sense to send it across the nation.” Susan Dynarski, a University of Michigan economist, wrote on Twitter that “unloading students onto home communities” was “deeply unethical.”

There are no easy answers for colleges, because creating on-campus quarantines brings its own challenges. At the University of North Carolina in Chapel Hill, one student who tested positive — Brianna Hayes — said that no employee checked on her during her week in isolation. “Feverish and exhausted from the virus, she made four trips up and down staircases to move her bedding and other belongings to her isolation room,” The Times’s Natasha Singer writes, in a story about campus quarantines.

Still, many experts say that the colleges that chose to reopen their campuses despite the risks, often for financial reasons, have a moral responsibility to do better. “Universities are not taking responsibility for the risks they are creating,” Sarah Cobey, an epidemiologist at the University of Chicago, said.

Last spring, the meatpacking industry became a vector for spreading the disease, when it quickly reopened and caused hundreds of new infections. This fall, higher education may end up being a similar vector.

David Leonhardt – The New York Times The Morning newsletter email 09.09.20

Clusterfuck.

College Clusterfuck 2.0 – “It’s a Dystopian Hell” – Updated

Update 09.05.20

What could be worse than being stuck at home with Mom and Dad for months on end isolated from friends, activities restricted?

Going back to Mom and Dad to be stuck at home for even longer because you got expelled from college AND telling them they just paid for a year of college and housing for nothing.

The students were part of a special one-semester program for first-year students and according to Globe, the prepaid $US 36,500 cost for the semester won’t be refunded. Students won’t be able to take courses from home but are eligible to return in the fall.

11 freshmen at Northeastern were dismissed for violating COVID-19 rules. Their $35,000 tuition won’t be reimbursed. — https://www.businessinsider.com.au/11-northeastern-students-dismissed-breaking-covid-19-rules-party-2020-9

jordanschachtel.substack.com — America’s college students are returning to campus for the Fall semester, and many are finding themselves in an environment that no longer resembles an academic institution, but something closer to a correctional facility for young adults. It’s not just a handful of schools that are pursuing extreme restrictions and punitive measures in the name of “stopping the spread” of the coronavirus, but something that has become a nationwide norm.

Tales from America’s COVID college campuses — https://muckrack.com/jordan-schachtel/articles

College campuses have transformed into some of the most restrictive environments in America.  After hearing about these conditions, I sent out a post on social media asking for testimonials from students, parents, and educators. The responses below are some of the many replies I received discussing what students are experiencing in colleges and universities that have allowed for students to return to campus.

Tales from America’s COVID college campuses — https://jordanschachtel.substack.com/p/tales-from-americas-covid-college

From what I can tell Jordan Schachtel is an investigative journalist. If you follow the link in the second quote above you’ll find a bevy of quotes from both students and parents on college life 2020 pandemic edition. What you’ll read is absolutely jaw dropping. A lot of prison analogies…

This is not going well nor will it end well. Online education will become the new operating model for higher education sooner rather than later. See my earlier rant Post Pandemic Changes in Consumer Behavior for Professor Galloway’s opinion. He says it’s simple math.

Funny to think how colleges and universities will succeed now that they all have to focus on education and teaching their students. Not sports. No longer modern day fiefoms that exist solely to enrich the clueless intellectual elites. My Dad always told me the purpose of college was to teach you how to think, not what to think. High time to get back to what a “higher” education should be.

CDC Clusterf*ck!

At issue are a set of guidelines released on Monday that say that people without symptoms who have come into contact with someone with Covid-19 do not necessarily need to be tested. Earlier, the Centers for Disease Control and Prevention had said that “testing was recommended” for the same group.

The modified guidelines sparked a significant backlash. The absence of evidence supporting the change puzzled public health experts. California Gov. Gavin Newsom said Wednesday that the guidelines would not be adopted in California; in New York, Gov. Andrew Cuomo called them “indefensible.” And Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, told reporters that he was undergoing surgery when the guidelines were approved last week — contradicting Brett Giroir, the assistant secretary for health, who said Fauci and others on the task force had approved the final version.

CDC director attempts to clarify controversial Covid-19 testing guidelines https://www.statnews.com/2020/08/27/redfield-clarify-controversial-testing-guidelines/?utm_campaign=rss

CDC attempts to explain guidelines they never developed. Dr. Fauci didn’t sign off on the new guidelines. Hmm…

How Some People Pass the Time While Waiting for Covid-19 Test Results

With long testing delays in other states, some learn they tested positive after starting vacations in Maine.

The proportion of COVID-19 tests from out-of-staters that are coming back positive in Maine has increased throughout July, with nonresidents now testing positive in Maine at a rate more than four times that of residents. Though the numbers are small – about 2.8 positive tests a day – they account for over 11 percent of recent new cases in the state.

Bar Harbor hospital sounds warning on undetected COVID-infected visitors

HT – https://www.nakedcapitalism.com/

We are doomed.