Posts Tagged ‘dollars’


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The average college student who graduated in 2011 had $26,600 in student loans, according to a new report, which estimates two-thirds of 2012’s college graduates had student loan debt.

The average debt is the largest since the Institute for College Access and Success began compiling the figures in 2005, and it comes amid soaring college costs, record loan defaults, and a persistently difficult job market for college graduates.

While unemployment among college graduates is only slightly higher than the overall rate, the study found a stunning 37.8 percent of recent graduates are working in jobs that do not require a college degree. The study said that means wages are depressed, making the situation for graduates even more difficult.

“Recent college graduates have entered an enormously difficult job market, which poses particular challenges for those who need to begin paying back student loans,” the study said.

There are several things the study did not say. For example, student loans have been pushed on students by Wall Street, which influenced congress and President Ronald Reagan to cut federal grants so that students would need to borrow more and more money in order to obtain an education. Investment firms take the loans, slice and dice them, and use the payments to back bonds, which they sell to rich investors. That means the payments made by students go directly into the pockets of the 1 percent because the government under Reagan decided this was a good income redistribution scam. These same rich investors receive all sorts of government welfare, and they’re shipping jobs overseas and destroying the US tax base in the process.

In other words, student loans are a carefully orchestrated scam by the 1 percent to redistribute income from the 99 percent to the 1 percent.That’s why student loan debt exceeds over a trillion dollars and is greater than all US credit card debt, which, coincidentally, is another income redistribution scam perpetrated by the 1 percent.

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There are numerous ways to resist! One of them is to get involved. For starters, join the fight against free trade treaties.

During 2012, President Obama and the corporate plutocrats in congress have another jobs outsourcing treaty in the pipeline. They call it a trade treaty, but it’s really a jobs exporting, income redistributing treaty. When jobs are exported, the difference between the old wages here and the lower new wages there are given to the rich via higher corporate profits, rising dividends and enhanced share prices. The job losers (that’s us) get uncertain futures. It’s the largest “Jobs Exporting, Income Redistribution Treaty” since NAFTA. This treaty is called the Trans-Pacific Free Trade Treaty by corporate representatives in government, but it will redistribute more income from working people to the rich, which is what it’s real purpose is.

Get involved in your area to help stop this massive income redistribution treaty, whose sole purpose is to impoverish the citizens of the United States, and then take their income and hand it to the rich in the form of higher corporate profits, rising dividends and share prices.

It has to make you wonder. How is it possible that our representatives in congress can possibly imagine that the mass of working people can continue to purchase enough stuff to keep corporate profits moving higher when they intend to redistribute more of our income to the rich. Maybe we’re not important anymore since the Federal Reserve can print trillions of dollars, hand it over to the banks, fix their books to make it look like the banks paid the money back, and then pretend as though nothing happened. The banks can then fix their own books to make it look like they paid the money back, and then funnel it to enhance corporate profits, pushing their dividends and share prices ever higher. The rich, of course, get richer, while we get unemployment and inflation. More on inflation later.

For more information on what this treaty does, check out the link below.

Information on the Trans-Pacific Jobs Exporting, Income Redistribution Treaty

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