Nov 20

Obama-Putin

- Meanwhile, This Is What Is Really Taking Place Behind The Second US-Russian Cold War:

It appears John Kerry is at it again. Russian Foreign Minister Sergei Lavrov says the US Secretary of State called on him to “pay no mind” to a statement by President Obama, in which Russia was included to a list of top global threats. Seeking Russia’s cooperation in Iran and on the Korean Peninsula, Kerry told Lavrov to “forget about” what Obama said. As US foreign policy credibility dissolves, we leave it to Lavrov to conclude, “it is flippant,” he jabs, “it’s not appropriate for a powerful country to have such a consumer attitude to its partners – where you’re needed, help us; where you’re not, obey us.

The dust has barely settled on the latest high profile banker suicide in which Deutsche Bank’s associate general counsel, and former SEC regulator, Charlie Gambino was found dead, having hung himself by the neck from a stairway banister, and here comes the latest sad entrant in the dead banker chronicles of 2014 when earlier today, the Post reports, a Citigroup banker was found dead with his throat slashed in the bathtub “of his swanky downtown apartment, authorities said Wednesday.”

However, unlike previous more “clearcut” suicides, this time there may have been foul play: the Post adds that “there was no knife recovered at the scene, leading officials to suspect the death was not a suicide, and they were trying to determine who had access to his apartment.”

- 21 Facts That Prove That Dependence On The Government Is Out Of Control In America:

1. According to a Congressional Budget Office study that was just released, approximately 60 percent of all U.S. households get more in transfer payments from the government than they pay in taxes. 

- Stunning Photos Of Record Snow Covering Upstate New York: 100 Total Inches Of Snow Expected:

As previously reported, the anticipated Polar Vortex 2.0 has struck, pushing temperatures in all 50 states to below freezing, while heavy snow prompted a state of emergency in western New York and contributed to the deaths of four people. According to Reuters, it was the coldest November morning across the country since 1976, according to Weather Bell Analytics, a meteorologist consulting firm. It remains to be seen how many GDP percentage points were wiped out as a result, unless of course, this time it will be different from last winter. But it was the situation in upstate New York, especially around Bufallo and parts of Erie County, where things got most dire and where 60 inches (1.5 m) of snow accumulated, with more falling, said Steven Welch of the National Weather Service near Buffalo. It gets worse: forecasters are calling for more snow on Thursday, as much as three feet more, for a total of up to 100 inches over four days - a year’s worth for the region!

More than a year’s snowfall in three days:

“This will be a historic event… absolutely. It is a historic event,” said Dave Zaff of the National Weather Service in Buffalo. “A stunning amount of snow.”

- Climate can change drastically in mere decades – With no help from humans:

“The results show that the climate over the past hundred thousand years has been a roller coaster. Within just a few decades, the climate could tip from an ice age into a warm period,” says Doctor Thomas Litt of the University of Bonn’s Steinmann Institute and spokesman for the PALEOVAN international consortium of researchers.

obama-halloween

- America Throws Up Over Obama’s Immigration Executive Action Even Before It Is Announced:

Ahead of President Obama’s address to the nation tomorrow to dictate his executive orders on immigration, potentially allowing millions of undocumented immigrants to stay legally in the US, a new NBC News/Wall Street Journal poll finds nearly half of Americans disapprove of his plan. Only a dismal 38% support the President taking this executive action… which makes us wonder if there has ever been so much revulsion at the policies of a standing President. It’s good to be king.

- President Obama To Dictate Immigration Executive Order In Vegas On Friday:

While what normally happens in Vegas, stays in Vegas; President Obama’s decision to dictate his Immigration Executive Order from sin city will likely have repurcussions across the entire nation. As NY Times reports, Obama is preparing to use his executive authority to provide work permits for up to five million people who are in the US illegally, and to shield them from deportation. But these new arrivals will not receive one key benefit: government subsidies for health care available under Obamacare. The immigrants would also be unlikely to receive benefits like food stamps, Medicaid coverage or other need-based federal programs offered to citizens and to some legal residents. “The costs of extending these programs to millions of low-wage illegal immigrants would be enormous,” said Senator Jeff Sessions “this is yet another danger posed to Americans by the president’s unconstitutional action.”

- Bill to have all Russians fingerprinted and DNA profiled submitted to parliament:

MPs from the populist nationalist party LDPR have prepared and drafted a motion requiring universal fingerprinting and DNA profiling of all Russian citizens for reasons of security.

- Ebola cure: WATER! Drinking a gallon of fluid daily recognized as key to survival:

One of the primary lessons being learned from the Ebola crisis is that fancy meds and vaccines aren’t needed to cure the disease. Simple water, it turns out, is one of the best treatments for the hemorrhagic illness, supplying the body with much-needed hydration that is quickly lost when the advanced stages of nausea and vomiting begin to develop.

(Recommended is steam-distilled water (See HERE & HERE.)

- Prescription drug vending machines now being installed on college campuses across America:

The total insanity of over-medication in America has reached a new low as Arizona State University has installed a prescription drug vending machine called InstyMeds.

With growth rates for steel products at or near record lows and prices for end-product having plunged to record lows, it is little surprise that the Steel industry would provide the largest Chinese bankruptcy yet in this cycle. As Bloomberg reports, unlisted Haixin Iron & Steel – which halted production and defaulted on CNY3 bn in March – has started bankruptcy proceedings. Having spent 8 months hoping for the government bailout that every Western onlooker believes is every firm’s god-given right, a reorganization application for the Wenxi, Shanxi province-based company (with $1.7 billion of total debt) was accepted by the Yuncheng City Intermediate People’s Court. This is just the start as “Haixin Group’s bankruptcy will be followed by others,” warns one analyst, adding that the major flaw of producers of iron ore, the most traded commodity after oil, is they tend to be “over-bullish.”

Just a week after Dr. Craig Spencer was declared ‘Ebola-free’, The Daily Mail reports a woman, who had arrived from Guinea 18 days ago (and was on the NYC Ebola monitoring list), dropped dead in a Brooklyn hair salon this afternoon. FDNY sent their Special Operations and Hazmat units but she was declared dead at the scene. Witnesses said she was bleeding from the “face, nose, mouth, everything.”

- Navy vet to RT: I was fired, called ‘terrorist’ for posting photos of DHS vehicles near Ferguson:

Mark Paffrath, a Navy veteran, was fired and branded a “terrorist” for taking pictures of dozens of Homeland Security vehicles parked at the hotel where he used to work in Ferguson, as grand jury decision on Michael Brown shooting is due, he told RT.

This is the ‘Greatest Depression’ …

- 3 Of The 10 Largest Economies In The World Have Already Fallen Into Recession – Is The U.S. Next?

… and it will get much worse. Prepare for collapse.

- Half of UK councils face financial collapse – report:

Half the UK’s local councils are at risk of collapse, the government’s official auditor has said, warning that one in six may be unable to provide basic services this year. The warning comes after severe cuts in national government funding.

In a report produced by the government’s official auditor, the National Audit Office (NAO) on Wednesday, 52 percent of councils were said to be at risk of not having enough resources to fund public services, including education and social care.

- Adrian Salbuchi: The Cult of ISIS:

No, we’re not talking about any ancient Egyptian religious lore, even though geographically, we’re in the same general area.

We’re talking about the latest boogeyman trump card drawn by the “Four Horsemen of the Apocalypse” – US / UK / EU / Israel – bent on instilling fear, terror and panic amongst Western nations.

With tens of billions of dollars financing, with well-armed and well-trained Jihad fighters, and an eerily charismatic black-robed Darth Vader-like fearless leader – Abu-Bakr-al-Baghdadi – ISIS sprang to life armor-clad and fully armed just like the Greek war goddess Pallas Athena was born out of Zeus’ forehead.

If this sounds strange; the following is even stranger: for some “unexplained” reason Islamic State does not attack US allies in the Middle East like Saudi Arabia, Kuwait, UAE, Qatar or Bahrain. Even more oddly, IS does not attack Israel whom Arabs are supposed to consider their greatest regional enemy;

So: Here we have ISIS/ISIL/IS murdering untold thousands of Iraqis, Syrians, Kurds, Christians, Shiites of all nationalities, but never touching Israel nor European and US homeland and foreign interests save for a handful of allegedly beheaded hostages.

But, wait a minute. What a coincidence! Those are pretty much the very same foes and friends of the “Four Horsemen of the Apocalypse” presently waging their “Global Mega-War on Terror!”

aipac_rules_america

- ‘US foreign policy in ME dictated by Israel':

A US journalist and political analyst said Israel is the supporter of al-Nusra and Islamic State of Iraq and Syria (ISIS) Takfiri terrorists.

“And if Israel supports ISIS, we support ISIS, because our foreign policy in the Middle East is dictated by Israel,” Wayne Madsen told Habilian.

Regarding the US airstrikes on ISIS positions, Madsen said they are like Saudi Arabia’s bombing ISIS militants and financing them at the same time.

ISIS is an operation run by the Israeli Secret Intelligence Service and the CIA … (More info HERE.)

“Helpful” Britain Tweets “How To Spot A Russian Tank In Ukraine”:

In case you are wondering through Ukraine and come across a tank, the British embassy in Kiev has issued a handy pocket guide to indentifying whether it is Russian (bad guys) or Ukrainian (good guys)…

Now that was indeed very ‘helpful’

hague-savile

H/t reader squodgy:

Were the parents asked if it was OK, first??

http://rt.com/usa/206311-chicago-5thgraders-sex-ed-anal/

This is so sick:

- ‘Use lots of lube & enter anus slowly’: Chicago schools teach anal sex to 5th graders:

Parents at an elite, magnet elementary school in Chicago were “horrified” when they saw the “obscene” sexual education materials their fifth graders would be learning. The curriculum included condom demonstrations and discussions of anal sex.

jimmy-saville-666
666 … just another ‘coincidence’

- Royals and Thatcher to blame for Jimmy Savile scandal, says Noel Edmonds:

The Royal Family and Margaret Thatcher were as much to blame as the BBC for failing to stop Jimmy Savile’s “unspeakable” crimes, Noel Edmonds has suggested.

The television presenter, who worked with Savile at the Corporation, said the whole establishment was implicated for allowing the paedophile DJ to flourish.

(And I know whose TV career just ended.)

Savile-Prince-Charles

Jimmy-Savile-Margaret-Thatcher

- Jimmy Savile ‘raped girl, 15, in flat’:

Jimmy Savile raped a 15-year-old girl with another DJ who told her “you should be thanking us”, a court has heard.

- Operation Midlandinvestigates Tory MP over boy’s murder:

Operation Midland

- Germany and Bulgaria Confirm Strong Opposition to GM Crops:

Germany’s Farm Minister Christian Schmidt and Bulgaria’s Foreign Minister Daniel Mitov both confirmed their countries’ strong opposition to GM crops on Friday.

- 57 Million Americans Warn UK over Dangers of GM Food and Farming:

In an open letter published in The Times newspaper and promoted through a digital billboard at Waterloo station, American celebrities, Susan Sarandon, Daryl Hannah and Robert Kennedy Jr joined US NGOs, trade groups and businesses such as Food & Water Watch, the Sierra Club, the Rachel Carson Council, Friends of the Earth, the Organic Consumers Association, Dr Bronner’s and NYR Organic to warn British citizens of the dangers of growing GM crops and urge them to speak out before it’s too late.

The fully referenced letter, signed by groups and individuals representing some 57 million members and supporters, argues that GM crops have never delivered on their promises to increase yields and profits or to decrease pesticide use. In fact, they have done the opposite with the cost of growing GM crops now greater than conventional crops in the US and pesticide use 24% higher amongst GM farmers than non-GM farmers planting the same crops.

- Global GMO Free Coalition Set to Help Fund World’s Largest GMO Safety Study:

The Global GMO Free Coalition welcomes the launch of the largest ever study on GMO and pesticide safety – Factor GMO. This is the type of study that should have been carried out on all GM foods before they were released into our food and feed supplies.

What Do College Undergrads Spend Their Student Loans On: High-School Classes:

While the impact of the student loan bubble on the labor participation rate has been extensively covered in the past, there is a just as important question of just what these “students” spend their money on. Among the items revealed: “A U.S. Middle District Court indictment alleges that Price spent much of the loan money on crack cocaine, cars, motorcycles, jewelry, tattoos and video games.” And iPhones of course, because someone has to indirectly provide US subsidies to the NSA’s favorite company. Now we know one more thing that America’s young adults, of whom some 24% expect that their debt will ultimately be forgiven, are blowing Uncle Sam’s debt on. The answer: high-school level classes.

 …

 – Homebuilder Hope Hammered As Housing Starts Tumble:

With surging homebuilder sentiment, we suspect the disappointing plunge in Housing Starts (-2.8% vs +0.8% exp) will surprise a few but there is hope… as Building Permits rose 4.8% (vs 0.9% expectations) on the back of an 8% surge in multi-family / rental units. This is the highest level fo Permits since June 2008 (but still over 50% below peak permits levels in 2005). The only region with any increase in starts was the South.

One Reader’s Shocked Response Upon Learning His Health Insurance Cost Just Doubled:

“Attached is the ACA notification of next year’s price increase.  As you can see the cost goes from $281 to $555, a monthly increase of $274, a percentage increase of 97%. Basically we are now paying the same amount for the two of us that we paid for all four of us one year ago.  How can that increase occur in a “free market” economy?  Did I miss something? Has some input cost leaped exponentially in order to double the price I pay? Or has private industry colluded with government to rig the markets (again) in their favor?”

- Drone operators had bin Laden in crosshairs a year before 9/11:

​The first American to ever launch a drone strike from an armed unmanned aerial vehicle now says he had Osama bin Laden in his crosshairs in 2000, a full year before the terrorist attacks of September 11.

Flashback: President Bush Rejects Taliban Offer To Surrender Osama Bin Laden

Confronting Riot Cops in Tampa:

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Nov 18

- This Is What Taking An Exam In China Looks Like (ZeroHedge, Nov 17, 2014):

How many teachers does it take to proctor 1200 students taking college exams in Baoji, Shaanxi?

This Is What Taking An Exam In China Looks Like

Answer: 80 – with telescopes!

*  *  *

The Dean of the school explains the shocking scenes are so that students feel to the seriousness of the exam and to prevent cheating in the exam. Continue reading »

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Oct 27

- Teacher spends two days as a student and is shocked at what she learns (Washington Post, Oct 24, 2014):

Do teachers really know what students go through? To find out, one teacher followed two students for two days and was amazed at what she found. Her report is in following post, which appeared on the blog of Grant Wiggins, the co-author of “Understanding by Design” and the author of “Educative Assessment” and numerous articles on education. A high school teacher for 14 years, he is now the president of Authentic Education, in Hopewell, New Jersey, which provides professional development and other services to schools aimed at improving student learning. You can read more about him and his work at the AE site. Continue reading »

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Oct 19

Madeline Scotto

- 100-Year-Old Math Teacher Still Going Strong at Brooklyn Elementary School (DNAinfo.com, Oct 17, 2014):

DYKER HEIGHTS — Three days a week, Madeline Scotto walks across the street from her home to St. Ephrem’s elementary school, where she was part of the first graduating class.

She climbs the stairs to her classroom, where she works to prepare students for the math bee. She pores over photocopied worksheets with complicated problems, coaching kids on how to stay calm on stage while multiplying and dividing in their head.

She’s just like any other teacher at the school — except for one thing: She’s 100 years old. Continue reading »

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Oct 18

Flotus - Dogs

Bon appétit!


Chickasha-lunch

- Student’s photo of skimpy Michelle O school lunch sparks outrage (EAGnews, Oct 16, 2014):

CHICKASHA, Okla. – Lunch meat, a couple of crackers, a slice of cheese and two pieces of cauliflower qualified as lunch in Chickasha Public Schools Monday.

Student Kaytlin Shelton took a photo of the skimpy lunch and showed it to her parents.

“It makes me want to take that and take it to the Superintendent and tell him to eat it for lunch,” the girl tells Fox 25.

“I can go pay a dollar for a Lunchable and get more food in it,” her father, Vince Holton, says.

Shelton is pregnant and eating for two, complicating the problem. Continue reading »

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Oct 04

Living in constant fear has consequences:

- Dr. Bruce Lipton: The New Biology – Where Mind and Matter Meet (Video)


- What Are We So Afraid Of? (Of Two Minds, Oct 2, 2014):

We’ve put all our hopes, dreams and chips on Plan A, as if security flows from institutional promises rather than from being adaptable, resilient and able to create value in a variety of circumstances.

Setting aside monsters under the bed, the Ebola virus and fanatical terrorists bent on our destruction–what are we so afraid of? It must be something, because fear is the ever-present backdrop in America.
If you don’t get a college degree, it’s widely assumed that you’re doomed to a life of involuntary poverty of part-time toil in a coffee bar or big-box retailer–if you’re lucky enough to find a job at all. Continue reading »

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Aug 26

Dumbing Down Of America

Related info:

- Harvard Study: Fluoride Lowers Children’s Intelligence By 7 IQ Points


- We Now Have Scientific Proof That People Are Getting Stupider (The American Dream, Aug 24, 2014):

Are people dumber than they used to be?  Were previous generations mentally sharper than us?  You may have suspected that people are getting stupider for quite some time, but now we actually have scientific evidence that this is the case.  As you will read about below, average IQs are dropping all over the globe, SAT scores in the U.S. have been declining for decades, and scientists have even discovered that our brains have been getting smaller over time.  So if it seems on some days like you woke up in the middle of the movie “Idiocracy”, you might not be too far off.  Much of the stuff that they put in our junk food is not good for brain development, our education system is a total joke and most Americans are absolutely addicted to mindless entertainment.  Fortunately we have a lot of technology that does much of our thinking for us these days, because if we had to depend on our own mental capabilities most of us would be in a tremendous amount of trouble. Continue reading »

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Jul 30

- British university system faces collapse (RINF, July 29, 2014):

Half of Britain’s 150 universities must close down if the system is to remain viable, according to a senior academic.

Sir Roderick Floud has proposed a plan for mass redundancies and closures to be adopted by the government in which he criticised the “messy, muddled non-system of higher education” as “inefficient” and in need of root-and-branch reform. Floud is the former head of Universities UK, an advocate for universities, and has run several universities. Continue reading »

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May 08

- The Shocking Increase Of College Tuition By State (ZeroHedge, May 7, 2014):

Our condolences to students in Arizona, who have seen a near doubling of their college tuition in just 5 short years.

In fact our condolences to students in the six states where tuition have risen by more than 60%, in the ten states where it has increased by more than 40%, and in the 29, or more than half of all states, where college tuitions have risen by more than 10 times the Fed’s inflation target of 2% per year.

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Mar 17

- Common Core math education intentionally designed to make America’s children mentally ill (Natural News, March 17, 2014):

If you look around America today, mathematical mental illness is found everywhere. It’s found in the federal budget, where numbers only mean what we are told they mean, not what they really mean. Mental illness is also found in medicine, where mentally ill victims of mercury in vaccines viciously attack parents who seek to protect their children from those very same vaccines. It’s also found in the new “Common Core” curriculum, spearheaded by the federal government, which seems intentionally designed to make children mentally ill and as confused as possible.

Case in point: See this homework assignment from an elementary school in New York. The “mathematics” exercise instructs children to “Draw the cubes you colored in the number bond” and then “Show the hidden partners on your fingers to an adult.”

The final instruction asks students to “Color the fingers you showed.”

Continue reading »

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Mar 06


YouTube Added: Mar 4, 2014

Description:

Yeah, sorry, I meant to just do a regular report but this just really pisses me off guys. ~Mel

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Feb 15


A view of Venus, black dot at top center, passing in front of the sun during a transit in 2012. A quarter of Americans questioned failed to answer correctly the most basic questions on astronomy

- 1 In 4 Americans Thinks The Sun Goes Around The Earth, Survey Says (NPR, Feb 14, 2014):

A quarter of Americans surveyed could not correctly answer that the Earth revolves around the sun and not the other way around, according to a report out Friday from the National Science Foundation.

The survey of 2,200 people in the United States was conducted by the NSF in 2012 and released on Friday at an annual meeting of the American Association for the Advancement of Science meeting in Chicago.

To the question “Does the Earth go around the Sun, or does the Sun go around the Earth,” 26 percent of those surveyed answered incorrectly.

Continue reading »

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Feb 06

- Wisconsin Middle School Forces Children to Play “Cross the Line” Game – Asks Kids if Parents are Alcoholics (Liberty Blitzkrieg, Feb 5, 2014):

Just in case you had any lingering doubt about the uselessness of many U.S. public schools, I bring to you Marinette Middle School. Yes, the administrators of this school thought it would be a fantastic idea to gather sixth graders around and ask them in front of all their classmates questions like; if their parents are alcoholics, use drugs or are divorced.

This story emerge only a week after I published the very disturbing article: Lunches Seized and Tossed in Trash at Salt Lake City Elementary School for Kids with Unpaid Balances.

Now, from local station NBC26 we discover that:

Continue reading »

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Feb 01

- Lunches Seized and Tossed in Trash at Salt Lake City Elementary School for Kids with Unpaid Balances (Liberty Blitzkrieg, Jan 30, 2014):

While I understand the need for parents to pay for their children’s lunches, what do you think the appropriate response should be by adults running an elementary school upon realizing that some young children with unpaid balances had already been served a full hot meal?

Personally, I would assume that any reasonable human being would allow the children to eat the lunches while at the same time calling up their parents to sort out the problem. However, that’s not the action deemed appropriate by the “child-nutrition manager” that visited Uintah Elementary in Salt Lake City this past Tuesday. Nope, this person decided that the best course of action was to seize already served lunches and throw them in the trash in front of the victim’s classmates. Mind you, this person is called a “child-nutrition manager.” So someone in charge of “child nutrition” thinks he or she is doing their job by ensuring malnourishment due to unpaid balances.

Next stop for these kids, debtors prison, which are making a comeback in the U.S. by the way. Disgraceful.

From the Salt Lake Tribune:

Up to 40 kids at Uintah Elementary in Salt Lake City picked up their lunches Tuesday, then watched as the meals were taken and thrown away because of outstanding balances on their accounts — a move that shocked and angered parents.

Continue reading »

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Jan 17

FYI.


- Anal Sex, Oral Sex, and Touching Each Other’s Genitals: Just Another Day in Junior High Health Class (The Daily Sheeple, Jan 16, 2014):

Anal Sex, Oral Sex, and Touching Each Other’s Genitals - Just Another Day in Junior High Health Class

The last time I checked, none of the Three Rs stood for Reproduction or Recreational Sex.

However, a middle school in Kansas has apparently added those two Rs to the curriculum and is teaching students how to express their sexuality.

A poster entitled, “How Do People Express Their Sexual Feelings?” is broaching some rather shocking subjects with pupils. A photo taken by a 13 year old student lists things like:

  • Oral Sex
  • Hugging
  • Sexual Fantasy
  • Touching Each Other’s Genitals
  • Caressing
  • Anal Sex
  • Kissing
  • Dancing
  • Vaginal Intercourse
  • Hugging
  • Massage
  • Masturbation
  • Talking
  • Holding Hands
  • Saying “I like you”
  • Cuddling on the Couch
  • Grinding

Continue reading »

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Dec 02


YouTube Added: Dec 1, 2013

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Nov 12

So we rather throw food into the garbage than give it to a hungry kid???


- Texas School Throws Child’s Breakfast In The Garbage To Bully Him Out Of 30 Cents (RINF, Nov 10, 2013):

A quarter and a nickel. Three dimes. Six nickels. Thirty pennies. All equal 30 cents. This is the pocket change that a school punished a six grade boy for not having by taking away his breakfast and trashing it. Sound heartless? That’s because it is.

A 12-year-old boy was forced to sit in embarrassment at the breakfast table at Barber Middle School in Dickinson ISD when cafeteria workers took his food away and threw it in the garbage. Why? Because the boy’s account was short a measly 30 cents. As a result, the hungry child didn’t get to start the day with a meal in his belly.

Instead of allowing the child to finish his meal, school officials tossed it and made him call his mother to have her bring money to the school. But even after calling his mom, the school refused to let him eat until they got their money. Basically, this was a shake down. The boy’s mom, Jennifer Castilleja, described what happened and expressed disappointment that the school didn’t deal with the situation differently.

“My son called me and asked me if I could bring him some money because they took his breakfast from him and he needed money for breakfast,” Castilleja told KTRK.

“I said, ‘Well, I’m on my way, I’ll pay for it. And she said no, I would have to bring some money before he could have breakfast. There were kids all around him. I think he may have been a little embarrassed and upset and, of course, hungry. Telling the child, we are going to feed you, but go to the office and call your parent and let them know that you need money. Anything than sending them to class hungry.”

Schools deny meals to kids too often in this country.

Continue reading »

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Oct 01

- Next “Subprime Crisis” Expands As Student Loan Defaults Hit $146 Billion, Highest Default Rate Level Since 1995 (ZeroHedge, Oct 1, 2013):

Almost exactly one year ago we wrote “The Next Subprime Crisis Is Here: Over $120 Billion In Federal Student Loans In Default” in which we took the latest (2009 three year cohort) loan default data on Federal Student Loans released by the Department of Education and applied it to the total amount of student loans outstanding, which back then was $914 billion. Yesterday, ED.gov provided its annual update - this time to the 2010 three year and 2011 two year cohorts – and to nobody’s major surprise, learned that things just got even worse. To wit: “The national two-year cohort default rate rose from 9.1 percent for FY 2010 to 10 percent for FY 2011. The three-year cohort default rate rose from 13.4 percent for FY 2009 to 14.7 percent for FY 2010.” Putting this in context, according to Bloombergdefaults have risen to the highest level since 1995. The irony that this is happening in the aftermath of Bernanke’s disastrous ZIRP policy is not lost on anyone.

Quantifying this percentage, recall the NY Fed reported in its second quarter household credit update that the amount of total outstanding student loans has now risen to $994 billion, or $80 billion more in just one year:

… one can calculate that the current amount of non-performing loans originated in 2010 is now a whopping $146 billion (the full total amount of student loans owed is $1.2 trillion when including private loans from the likes of Sallie Mae – this sum surpasses all other kinds of consumer borrowing expect for mortgages). Unfortunately, as the economic situation has only deteriorated since then especially for student-age Americans, the real blended amount of student loans in default is almost certainly substantially higher as of this moment.

The Education Department had this commentary: Continue reading »

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Sep 16

For my German speaking readers.


More info HERE.

Der neue Film von ERWIN WAGENHOFER:


YouTube

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Sep 14

- Marc Faber On Protecting Wealth In The Coming Collapse

Faber begins by noting that “a deflationary bust, whenever it may happen (tomorrow or 10 years), is inevitable; and is the opposite of an increase in prices from inflation.” Of course, it is the central banks’ response to even the fears of that bust (e.g. whether it washes around the world – from EM to DM) that will turn an asset-deflationary bust into a hyperinflationary collapse in fiat currencies; and focused on the long-term, ‘Gloom, Boom, & Doom Report’s’ Marc Faber looks at how to preserve wealth through this as he ranges from the obsolescence risk of equities to the political risk of real estate and banking risks of cash and deposits. Faber reflects on various lessons from the past (hyperinflations, wars, banking crises) and geographies as he moves from asset class to asset class highlighting the pros and cons of each. Preferring a mix of gold and diversified real estate (and not government bonds), Faber warns investors to be highly skeptical of anyone who believes they can forecast what is going to happen over the next 5-10 years.

Starting at around 3:35, Faber begins to focus on wealth preservation… (the preceding discussion of higher education’s failings are also worth the time).


YouTube

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