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We have learned the media will not pay attention to those protesting large scale thieves even in large numbers until they are forcibly removed for having the temerity to engage in said fictional rights. But if you are a crank who doesn’t think the 16th Amendment exists you and your two friends will get a Cable Network to do your bidding.
These Wall Street Protesters were arrested by cops because they are mad about being fleeced by the rich…worse than people usually are.
But if they were protesting that cops should be stripped of their pensions, salaries, and collective bargaining rights — they’d be able to sit there and waive their fake Kenyan Birth Certificates as much as they’d like.
The Growing Student Debt Bubble In the aftermath of the stock market failure of 2008, another type of economic bubble is swelling: student debt. And it’s no surprise, since Congress has done nothing to change the lending practices that brought the U.S. to the brink three years ago. The social statistics on the debt are appearing in financial journals and in the work being published by economic research groups. According to Rep. Hansen Clarke, D-Mich., in 2010, “the average borrower graduating from a four-year college left school with roughly $24,000 of student debt, despite the grim statistic that—according to a Rutgers University study—only 56 percent of 2010 graduates were able to find work following completion of their studies.” In July, credit rating firm Moody’s Analytics warned that student debt could lead to the next financial crisis. The stories of a number of former students and more urgent figures appear in the article below. —ARK AlterNet: A recent piece in the Atlantic noted that student debt has grown by 511 percent since 1999. At that time, only $90 billion in student loans were outstanding—by the second quarter of 2011, that balance was up to $550 billion, according to the New York Fed. And the Department of Education estimates that outstanding loans total closer to $805 billion—and that number will pass $1 trillion soon. As student loans rise, so has delinquency. Phil Izzo at the Wall Street Journal reported that 11.2 percent of student loans were more than 90 days past due and that rate was steadily going up. “Only credit cards had a higher rate of delinquency — 12.2 percent — but those numbers have been on a steady decline for the past four quarters,” he noted. It shouldn’t be surprising to anyone that student loan defaults are going up as young workers especially are struggling in the current economy. Izzo reported, “Workers between 20 and 24 years old have a 14.6 percent unemployment rate, compared to the national average of 9.1 percent recorded in July. That comes even as the share of 20- to 24-year-olds who are working or looking for a job is at the lowest level since the 1970s, before women entered the labor force en masse.” Read more
In the aftermath of the stock market failure of 2008, another type of economic bubble is swelling: student debt. And it’s no surprise, since Congress has done nothing to change the lending practices that brought the U.S. to the brink three years ago.
The social statistics on the debt are appearing in financial journals and in the work being published by economic research groups. According to Rep. Hansen Clarke, D-Mich., in 2010, “the average borrower graduating from a four-year college left school with roughly $24,000 of student debt, despite the grim statistic that—according to a Rutgers University study—only 56 percent of 2010 graduates were able to find work following completion of their studies.” In July, credit rating firm Moody’s Analytics warned that student debt could lead to the next financial crisis.
The stories of a number of former students and more urgent figures appear in the article below. —ARK
AlterNet:
A recent piece in the Atlantic noted that student debt has grown by 511 percent since 1999. At that time, only $90 billion in student loans were outstanding—by the second quarter of 2011, that balance was up to $550 billion, according to the New York Fed. And the Department of Education estimates that outstanding loans total closer to $805 billion—and that number will pass $1 trillion soon.
As student loans rise, so has delinquency. Phil Izzo at the Wall Street Journal reported that 11.2 percent of student loans were more than 90 days past due and that rate was steadily going up. “Only credit cards had a higher rate of delinquency — 12.2 percent — but those numbers have been on a steady decline for the past four quarters,” he noted.
It shouldn’t be surprising to anyone that student loan defaults are going up as young workers especially are struggling in the current economy. Izzo reported, “Workers between 20 and 24 years old have a 14.6 percent unemployment rate, compared to the national average of 9.1 percent recorded in July. That comes even as the share of 20- to 24-year-olds who are working or looking for a job is at the lowest level since the 1970s, before women entered the labor force en masse.”
Brent Budowsky: Republicans Are Driving America to an Economic Crash Never before in American history have leaders of any party attacked the Federal Reserve Board for trying to use monetary policy to strengthen the economy during a recession or depression. It has never happened before, not once in American history.
Brad DeLong: Review: Ron Suskind’s Confidence Men Two and a half years ago I would have given long odds that Ron Suskind’s â?¨book would provide me with a lot of the answers to the questions I had about why the Obama economic team chose the policies it did. Unfortunately, it does not.
DOJ: Rick Perry’s Texas Redistricting Plan Purposefully Discriminated Against Minorities The Justice Department said late Friday that based on their preliminary investigation, a congressional redistricting map signed into law by Republican presidential candidate Rick Perry appears to have been “adopted, at least in part, for the purpose of diminishing the ability of citizens of the United States, on account of race, color, or membership in a language minority group, to elect their preferred candidates of choice to Congress.”
Historic Negativity Toward U.S. Government Gallup finds a record-high 81% of Americans “are dissatisfied with the way the country is being governed, adding to negativity that has been building over the past 10 years.”
Words Have Meaning Mitt Romney declared in last Thursday’s debate — unlike his rival Rick Perry — that he stands by what he wrote in his book No Apology. Said Romney: “Words have meaning.”
But a new Perry web video aims to show how his rival deleted key lines and rewrote passages from the paperback version of the book.
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How Investing in Medicaid will Create Jobs Cutting Medicare and Medicaid are the new favorite solution for Democrats and Republicans–but actually, investing in those programs would do more for jobs.
Mr. President: Play Jujitsu With The U.N. Vote The most frustrating thing about Gershom Gorenberg’s smart letter to President Obama in The American Prospect is that there is nothing in it that its recipient does not already know: Abbas is going to the U.N. Security Council because bilateral…
The Capitalist Crack-Up Fitzgerald, by then deep into an inglorious relationship with Gin Rickeys, was lucid enough, in 1936, to explain that “all life is a process of breaking down, but the blows that do the dramatic side of the work – the…
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John Bolton Rejects Proposal For Hotline With Tehran Former U.N. ambassador John Bolton took to Fox News this morning to blast the idea of a “hotline” between Iran and the United States. Bolton is quick to dismiss the concept as cheap political ploy to heighten Iran’s “prestige”: Well it’s not always the best course to assume the Ahmadinejad’s being entirely logical in what […]
Former U.N. ambassador John Bolton took to Fox News this morning to blast the idea of a “hotline” between Iran and the United States. Bolton is quick to dismiss the concept as cheap political ploy to heighten Iran’s “prestige”:
Well it’s not always the best course to assume the Ahmadinejad’s being entirely logical in what I will call the “Western” sense of that word. But it’s possible on the hotline, what he has in mind, is a mechanism that he thinks will enhance Iran’s prestige. After all, how many countries does the U.S. have that kind of hotline with. I think this is part of his charm offensive. It’s hard to use that phrase when he’s also accusing us of masterminding the 9/11 attacks but again, in his rather strange way, this is a signal as well to us as inside Iran to try and enhance his position in the political infighting that’s going on there.
We haven’t had a connection with Iran since 1979. Even in the darkest days of the Cold War, we had links to the Soviet Union. We are not talking to Iran, so we don’t understand each other. If something happens, it’s virtually assured that we won’t get it right — that there will be miscalculation which would be extremely dangerous in that part of the world. […]
And one day before Mullen delivered his remarks, The Wall Street Journal reported that U.S. officials were examining the establishment of a hotline following a series of “near miss” encounters between American and Iranian forces in the Persian Gulf.
Bolton dismisses the hotline as a ploy by Ahmadinejad to increase his “prestige.” But the U.S. military is increasingly voicing concern that a misunderstanding with Tehran could lead to a wider conflict in an already tense region.
Is Joe Bastardi the Worst Long-Range Forecaster Ever? Many of the key Arctic sea ice records fell this year (see “Record Low Sea Ice Volume, Area and Extent*). In short, the Arctic death spiral continues. Meteorologist Joe Bastardi has always made nonsensical forecasts like “The coming cooling of the planet overall will return it to where it was in the ’60s, ’70s, and […]
On September 20, 2010, Bastardi predicted that Arctic Sea Ice extent would return to 2005 levels: “We are going to recover dramatically here with a cold that is coming over the next 9 to 12 months“!
Yet he also landed at WeatherBell, a weather consulting firm, where he is “Chief Forecaster.” To ensure no one would take them seriously, WeatherBell also hired another well-known science denier Joseph D’Aleo as “Chief Forecaster.”
Seriously, how consistently wrong does a forecaster have to be before people stop paying attention?
SAN JOSE — President Obama opened a West Coast fundraising blitz Sunday with appearances at four events in Seattle and San Jose as his reelection campaign sought to make up ground after a series of summer setbacks.
With his popularity fading in national polls, Obama challenged his supporters to “shake off any doldrums” and recapture the yes-we-can attitude of his historic 2008 campaign.
The phone rang last year as soon as the Senate confirmed Elena Kagan as the Supreme Court’s newest justice.
Chief Justice John G. Roberts Jr. said he wanted to be the first to congratulate and welcome Kagan to the court, she recalled at a recent event at the Aspen Institute. And Roberts told her one other thing: that the two were going to be serving together for the next 25 years.
Israeli Prime Minister Benjamin Netanyahu insisted Sunday that his nation’s bond with the United States and President Obama remains strong, but he declined to counter harsh criticism of Obama’s Middle East policy by Republican presidential candidates.
Speaking as the United Nations’ Security Council prepares to debate an application to create a Palestinian state—a move Obama has pledged the United States will block—Netanyahu said he stands ready to sit down and negotiate a peace deal. But he said Palestinian Authority President Mahmoud Abbas’ request for UN intervention was undermining peace efforts.
On Sept. 11th, 2001 George Bush said he would catch bin Laden dead or alive.
He never did, we used to run a counter showing how many days it had been, but Obama finally took care of it for him. Just another Bush lie.
The Hollywood Liberal started in 2004 at the height of the Bush Administration madness in America.
We were inspired by the late great Bartcop.com. The very first thing I did when the site started was to get arrested at the 2004 Republican National Convention in New York. My arrest at the start of a march from The World Trade Center was later ruled unconstitutional by a federal judge. On New Years Eve 2014 the case was finally settled, with a judge awarding a class action suit that I was part of over $26 Million. I posted daily on the blog up until the end of The Bush error, and the site is now run as a history of the whole fiasco. Feel free to browse the old postings, pictures, & comics (an HL favorite) It reveals the twisted history of the times. Thanks H.L.
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