[Leica] Fuji X-Pro1 - Jim

[shino at panix.com (Rei Shinozuka)]

quite a timely observation.

just today, the wall street journal announced that the outstanding face 
value of student loan debt now exceeds $1 trillion.

it took the united states until 1983 to accumulate one trillion dollars  
of treasury debt.

-rei


On 03/21/2012 05:05 PM, scleroplex wrote:
> exactly!!
>
> everyone is talking about the rise in healthcare costs.
> no one is comparing the rate of rise of higher education costs.
> it is 6 times that of health care!
>
> all the universities are raking it in and putting up flashy buildings with
> gay abandon.
> and no one is even looking at abuse of HEFA loans, which is as big a
> scandal as mortgage loans if not bigger.
>
> university boards are packed with real estate developers who get HEFA loans
> from the government and spend the money on construction projects.
>
> a good percentage of the loans are also invested in the capital markets by
> university endowment funds and multiplied.
> essentially rolling cheap tax money.
> when there is a profit, the university keeps it.
> when there is a loss, it is a public write-off.
>
> nowadays whenever i see students and their parents touring the universities
> here in boston,
> i only think, here are the next lot of mugs!
> these are the people who are deliberately left in huge debt,
> which they then concentrate on paying off the next 30 years,
> with no time for the policing of democracy at the local or national level.
>
> bharani
>
>
>
>
>
> Message: 16
> Date: Wed, 21 Mar 2012 09:07:49 +0530
> From: Jayanand Govindaraj<jayanand at gmail.com>
> Subject: Re: [Leica] Fuji X-Pro1 - Jim
> To: Leica Users Group<lug at leica-users.org>
> Message-ID:
>         <CAH1UNJ1=+AvJ7=jCJXTvdUnRM7o4DyhFqgib_OiKAHsMVxGP4g at 
> mail.gmail.com>
> Content-Type: text/plain; charset=ISO-8859-1
>
> It is still considered a part of the parent's duty to fully educate their
> offspring here in India (I am talking lower middle class and above here).
> Of course, there is some self preservation involved, as it is still
> considered a part of the offspring's duty to look after the parents in
> their old age. My parents in law have always stayed with me, and my parents
> with my brother - and they have done so for the past 20-25 years. The old
> joint family systems have not noticeably broken down as yet, though in
> urban India it is starting to happen.
>
> As far as the USA is concerned, it is my considered view that the only
> bubble that has not collapsed yet is in education - both in terms of
> affordability, and the sheer weight of student loan debt that has no chance
> of being repaid.
>
> Cheers
> Jayanand
>
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