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).
HSLDA Founder and Chairman Mike Farris meets with the Wunderlich family during the Global Home Education Conference held in Berlin, Germany in October 2012. Farris is asking homeschoolers to contact German officials on behalf of the Wunderlichs.
- Children Seized in Shocking Raid (HSLDA, Aug 30, 2013):
At 8:00 a.m. on Thursday, August 29, 2013, in what has been called a “brutal and vicious act,” a team of 20 social workers, police officers, and special agents stormed a homeschooling family’s residence near Darmstadt, Germany, forcibly removing all four of the family’s children (ages 7-14). The sole grounds for removal were that the parents, Dirk and Petra Wunderlich, continued to homeschool their children in defiance of a German ban on home education.
The children were taken to unknown locations. Officials ominously promised the parents that they would not be seeing their children “anytime soon.”
HSLDA obtained and translated the court documents that authorized this use of force to seize the children. The only legal grounds for removal were the family’s continuation of homeschooling their children. The papers contain no other allegations of abuse or neglect. Moreover, Germany has not even alleged educational neglect for failing to provide an adequate education. The law ignores the educational progress of the child; attendance—and not learning—is the object of the German law.
- Move Over, Obamacare. Here Comes Obamaschool (Ludwig von Mises Institute, Aug 30, 2013):
The president gave a speech on August 22 in Buffalo outlining his proposal to “reform” the student loan program. He acknowledged that the program has some problems, but assured the audience they are easily fixed. Just take the principles behind Obamacare and apply them to education. The president personally “guaranteed” that his proposals would make college more affordable.
- Across America, Young Teachers are So Broke They are Taking 2nd Jobs…As Prostitutes (Liberty Blitzkrieg, Aug 28, 2013):
I suppose they should’ve just bought stocks. Welcome to the recovery.
From CBS in Detroit:
So, what are some Detroit women doing to offset their struggles in the classroom? Well, they’re becoming “sugar babies” of course — seeking financial assistance from wealthy men online.
In the Detroit School District alone, 201 teachers are moonlighting as sugar babies to offset wage cuts and job losses, according to dating website SeekingArrangement.com.
Brandon Wade, the website’s founder and CEO, said the average public school teacher registered on the site is between the ages of 28- and 33-years-old, and asks for approximately $3,000 a month in financial assistance from her sugar daddy.
While the number of Detroit school teachers registered on the website might be shocking to some, it’s actually less than the national average. Wade said the Philadelphia City School District has the highest number of teachers registered on the website at 674, followed by Miami-Dade School District with 507.
Awesome economy we’ve got going. Continue reading »
- Student Loan Rates Set To Double On July 1 (NPR, June 28, 2013):
The interest rate on government-backed student loans is going to jump from 3.4 percent to 6.8 percent Monday.
Republicans, Democrats and the Obama administration could not agree on a plan to keep it from happening. Lawmakers say a deal is still possible after the July 4 recess. But if they don’t agree on a plan soon, 7 million students expected to take out new Stafford loans could be stuck with a much bigger bill when they start paying the money back.
- Fed Shocked To Find Student Loans Used For Anything But To Learn (ZeroHedge, June 24, 2013):
Since January, under pressure from the Fed, the Education Department has flagged 126,000 applicants attempting to pocket federal loans and grants without any intent of going to school. As the WSJ reports, officials are cracking down on fraud in student-aid programs after evidence of recipients – acting alone or as part of organized crime rings – misusing funds. “What we find are very poor students academically that are borrowing to the max, getting the maximum in their Pell grant and just going from school to school,” noted one director of financial aid, with roughly $829 million in Pell grants as “improper payments,” in the last year. Rather stunningly, more than 34,000 participants in crime rings improperly received federal student aid last year, up 82% from 2009. “We started seeing student borrowing that was just over the top with no explanation for why,” another director noted, adding “it’s not so much about the education, it’s the money.”
Most federal student aid requires no credit check and comes with few restrictions on how the money is spent and Federal officials say the Internet has helped fuel student aid fraud.
Via The WSJ,
Federal officials are cracking down on fraud in student-aid programs, responding to evidence that a growing number of recipients—acting alone or as part of organized crime rings—are pocketing federal loans and grants without any intent of going to school.
Since January, the agency said it has flagged 126,000 applicants, about 1% of all those seeking aid for the 2013-2014 school year.
- 20 Completely Ridiculous College Courses Being Offered At U.S. Universities (Economic Collapse, June 5, 2013):
Would you like to know what America’s young people are actually learning while they are away at college? It isn’t pretty. Yes, there are some very highly technical fields where students are being taught some very important skills, but for the most part U.S. college students are learning very little that they will actually use out in the real world when they graduate. Some of the college courses listed below are funny, others are truly bizarre, others are just plain outrageous, but all of them are a waste of money. If we are going to continue to have a system where we insist that our young people invest several years of their lives and tens of thousands of dollars getting a “college education”, they might as well be learning some useful skills in the process. This is especially true considering how much student loan debt many of our young people are piling up. Sadly, the truth is that right now college education in the United States is a total joke. I know – I spent eight years in the system. Most college courses are so easy that they could be passed by the family dog, and many of these courses “study” some of the most absurd things imaginable.
Listed below are 20 completely ridiculous college courses being offered at U.S. universities. The description following each course title either comes directly from the official course description or from a news story about the course… Continue reading »
- Schools scanned students’ irises without permission (RT, May 30, 2013):
Parents in Polk County, Florida are outraged after learning that students in area schools had their irises scanned as part of a new security program without obtaining proper permission.
Students at three facilities — an elementary school, a grade school and a high school — had their eyeballs scanned earlier this month as part of a ‘student safety’ pilot program being carried out by Stanley Convergent Security Solutions.
“It simply takes a picture of the iris, which is unique to every individual,” Rob Davis, the school board’s senior director of support services, wrote home to parents in a letter dated May 23. “With this program, we will be able to identify when and where a student gets on the bus, when they arrive at their school location, when and what bus the student boards and disembarks in the afternoon. This is an effort to further enhance the safety of our students. The EyeSwipe-Nano is an ideal replacement for the card based system since your child will not have to be responsible for carrying an identification card,” he added.
- High School Teacher Faces Disciplinary Action for Informing Students of Their Rights (Liberty, Blitzkrieg, May 28, 2013):
Rather than being reprimanded, Illinois high school teacher John Dryden, should be held up as an example of what it truly means to be a teacher. When confronted with a situation where he knew his students might be giving up their Fifth Amendment rights, the social studies teacher did what he believed was the right and moral thing to do. For that action, he may be disciplined.
A high school social studies teacher in Batavia, Illinois, faces disciplinary action for informing students of their Fifth Amendment rights in connection with a survey asking about illegal drug use. The survey, ostensibly aimed at assessing the needs of students at Batavia High School, was distributed on April 18. After picking up the survey forms from his mailbox about 10 minutes before his first class of the day, John Dryden noticed that they had students’ names on them and that they asked about drinking and drug use, among other subjects. Dryden, who had just finished teaching a unit on the Bill of Rights, worried that students might feel obliged to incriminate themselves—an especially ticklish situation given the police officer stationed at the school. Since there was no time to confer with administrators, he says, he decided to tell his students that they did not have to complete the forms if doing so involved admitting illegal behavior. Tomorrow the school board will consider whether and how to punish Dryden for taking advantage of this teachable moment.
I suppose it makes sense. In the gulag, ghetto of injustice America has become only crooked IRS agents should be able to plead the 5th.
The petition to support John Dryden has well over 5,000 signatures, with the most recent recent one being mine. It can be found here.
- Eton College’s Exam Asks Boys to Justify the Army Killing Protesters (Liberty Bliitzkrieg, May 26, 2013):
Eton, the elite boarding school just west of London, attended by Prince William, Prince Harry and current UK Prime Minister David Cameron asked a very interesting question on a recent scholarship questionnaire. Specifically, 13 year old boys were asked to justify the army killing 25 protestors in oil-price related civil unrest.
It’s all hypothetical to be sure. Just as hypothetical as the DHS buying billions of rounds of ammunition and assault weapons. For hypothetical use, against hypothetical protestors when the hypothetical ponzi financial system collapses due to hypothetical theft by hypothetical oligarchs. Got that?
From the Huffington Post:
Eton College asked 13-year-old boys competing for a scholarship to pretend to be Prime Minister and justify the army shooting dead 25 protesters as a “necessary and moral” decision, it has emerged.
George Carlin sums it up best:
- Marching in Chicago: Resisting Rahm Emanuel’s Neoliberal Savagery (Truthout, May 24, 2013):
Across the globe, predatory capitalism spreads its gospel of power, greed, commodification, gentrification, and inequality. Through the combined forces of a market driven ideology, policy, and mode of governance, the apostles of free-market capitalism are doing their best to dismantle historically guaranteed social provisions provided by the welfare state, define the accumulation of capital as the only obligation of democracy, increase the role of corporate money in politics, wage an assault on unions, expand the military-security state, increase inequalities in wealth and income, foster the erosion of civil liberties, and undercut public faith in the defining institutions of democracy. As market mentalities and moralities tighten their grip on all aspects of society, democratic institutions and public spheres are being downsized, if not altogether disappearing. As these institutions vanish—from public schools to health care centers—there is also a serious erosion of the discourses of community, justice, equality, public values, and the common good. One does not have to look too far to see what happens in America’s neoliberal educational culture to see how ruthlessly the inequality of wealth, income, and power bears down on those young people and brave teachers who are struggling every day to save the schools, unions, and modes of pedagogy that offer hope at a time when schools have become just another commodity, students are reduced to clients or disposable populations, and teachers and their unions are demonized.
Chicago Mayor Rahm Emanuel’s current attempt to close down 54 public schools largely inhabited by poor minorities is one more example of a savage, racist neoliberal system at work that uses the politics of austerity and consolidation to further disenfranchise the unskilled young of the inner city. The hidden curriculum in this instance is not so invisible. Closing schools will result in massive layoffs, weakening the teachers unions. It will free up land that can be gentrified to attract middle class voters, and it will once again prove that poor minority students regardless of the hardships, if not danger, they will face as a result of such closings are viewed as disposable—human waste to be relegated to the zones of terminal exclusion. Not only are many teachers and parents concerned about displacing thousands of students to schools that do not offer any hope of educational improvement, but they are also concerned about the safety of the displaced children, many of whom “will have to walk through violent neighborhoods, and go to school with other students who are considered enemies.” Brian Sturgis, a Chicago high school senior and organizer with the group Chicago Students Organizing to Save our Schools declared in an op-ed that Chicago students are prepared to fight for their schools. He writes: Continue reading »
- Revealed Government Documents Show Vaccine Injured Children in Small African Village Used Like Lab Rats (Vactruth, May 19, 2013):
In December 2012, vaccine tragedy hit the small village of Gouro, Chad, Africa, situated on the edge of the Sahara Desert. Five hundred children were locked into their school, threatened that if they did not agree to being force-vaccinated with a meningitis A vaccine, they would receive no further education. These children were vaccinated without their parents’ knowledge. This vaccine was an unlicensed product still going through the third and fourth phases of testing.
Within hours, one hundred six children began to suffer from headaches, vomiting, severe uncontrollable convulsions and paralysis. The children’s wait for a doctor began. They had to wait one full week for a doctor to arrive while the team of vaccinators just carried on vaccinating others from the village. More children became sick.
When the doctor finally came, he could do nothing for the children. The team of vaccinators, upon seeing what had happened, fled the village in fear.
- Michigan school district that says it can’t pay teachers to remain closed until further notice (Click On Detroit, May 13, 2013):
BUENA VISTA TOWNSHIP, Mich. – A shuttered Michigan school district that says it can’t afford to pay its teachers plans to remain closed until further notice.The update is posted on the website of Buena Vista School District, located near Saginaw. It hasn’t held classes since May 3.
The district laid off teachers and all but three employees May 7. The district has said it wouldn’t be able to make payroll May 24 because the state put a hold on its funding to recoup about $580,000 for a juvenile detention education program the district no longer operates.
Meanwhile, MLive.com reports Democratic Congressman Dan Kildee of Flint says 91 percent of the district’s students get federal food assistance through free and reduced lunch programs, and he wants to ensure the shutdown doesn’t affect their nutrition.
- Student suspended for shaping Pop-Tart into gun (KTNV, March 3, 2013):
Baltimore, MD – A student in Baltimore was suspended over breakfast.
7-year-old Josh Welch was eating a Pop-Tart at school. A teacher saw the pastry and said she thought it looked like it was being shaped into a gun.
From the article:
“When you get 800 résumés for every job ad, you need to weed them out somehow,”said Suzanne Manzagol, executive recruiter at Cardinal Recruiting Group, which does headhunting for administrative positions at Busch, Slipakoff & Schuh and other firms in the Atlanta area.
- It Takes a B.A. to Find a Job as a File Clerk (New York Times, Feb 19, 2013):
ATLANTA —The college degree is becoming the new high school diploma: the new minimum requirement, albeit an expensive one, for getting even the lowest-level job.
Consider the 45-person law firm of Busch, Slipakoff & Schuh here in Atlanta, a place that has seen tremendous growth in the college-educated population. Like other employers across the country, the firm hires only people with a bachelor’s degree, even for jobs that do not require college-level skills.
This prerequisite applies to everyone, including the receptionist, paralegals, administrative assistants and file clerks. Even the office “runner” — the in-house courier who, for $10 an hour, ferries documents back and forth between the courthouse and the office — went to a four-year school.
“College graduates are just more career-oriented,” said Adam Slipakoff, the firm’s managing partner. “Going to college means they are making a real commitment to their futures. They’re not just looking for a paycheck.”
- Connecticut proposes bill for forced mental health checks on homeschoolers (Natural News, Feb 19, 2013):
Connecticut officials are proposing legislation that would require state investigations of children on an unprecedented level, critics contend, by calling for a “confidential behavioral health assessment” of every public school student in sixth, eighth, 10th and 12th grades, as well as every homeschooled student aged 12, 14 and 17.
The proposed legislation, called Bill 374, has been labeled by critics as little more than a shocking home invasion measure, WorldNetDaily reported.
“It’s outrageous that state officials could come into private homes and potentially remove children if they are assessed as a threat as a result of the investigation,” Dee Black, senior counsel to the Home School Legal Defense Association, told the website. “Regardless of what state officials claim, I don’t believe the results [of the investigations] will be held confidential.” Continue reading »
- Obama pushes preschool for all kids so they don’t start out ‘a step behind’ (McClatchy, Feb 14, 2013):
WASHINGTON — President Barack Obama visited a preschool in Georgia on Thursday to unveil details about his new plan to ensure that all 4-year-olds – including those whose families struggle to make ends meet – receive the same opportunities for a high quality early education.
Funded by federal and state tax dollars, the president’s plan would be a dramatic expansion of education for 4-year-olds, by making a year of optional preschool free for low- and moderate-income children.
“Hope is found in what works,” Obama said at the College Heights Early Childhood Learning Center in Decatur, part of Georgia’s widely available preschool program, funded by the state lottery. “This works. We know it works. If you’re looking for a good bang for your educational buck, this is it, right here.”
- Cops Nab 5-Year-Old for Wearing Wrong Color Shoes to School (Take Part, Jan 18, 2013):
In Mississippi, if kindergarteners violate the dress code or act out in class, they may end up in the back of a police car.
A story about one five-year-old particularly stands out. The little boy was required to wear black shoes to school. Because he didn’t have black shoes, his mom used a marker to cover up his white and red sneakers. A bit of red and white were still noticeable, so the child was taken home by the cops.
The child was escorted out of school so he and his mother would be taught a lesson.
Ridiculous? Perhaps. But incidents such as this are happening across Mississippi. A new report, “Handcuffs on Success: The Extreme School Discipline Crisis in Mississippi Public Schools,” exposes just how bad it’s become.
- Wednesday Humor: German Education Minister Stripped Of PhD For Plagiarism (ZeroHedge, Feb 6, 2013):
Some thought the irony of a Treasury Secretary who cheated on his taxes was extreme but Germany has gone one better as the nation’s Education Minister has just been stripped of her PhD due to plagiarism. As Spiegel Online reports, the University of Düsseldorf has revoked German Education Minister Annette Schavan’s degree because “she systematically and deliberately presented intellectual efforts throughout her entire dissertation that were not her own.” As such, she was guilty of “intentional deception through plagiarism.” Allegations that parts of her dissertation were not consistent with academic standards were first raised last spring and were hardened in October when a blogger released detailed findings of citation shortcomings he had found in the education minister’s dissertation. Of course, she has taken the political route to this problem – denial – admitting merely to “oversights,” and adding that “There was no cheating involved.” The university voted 12 to 2 to revoke her degree and invalidate her academic title. Schavan is yet to resign from Merkel’s Cabinet. What next? A skeet-shooting gun tzar, a job tzar responsible for thousands of jobs losses while in the private sector, or a Nobel Peace Prize winner building a drone army.
Via Spiegel Online,
Merkel’s Education Minister Has Ph.D. Title Revoked
German Education Minister Annette Schavan has long been dogged by accusations that she had plagiarized parts of her Ph.D. thesis. Now, the University of Düsseldorf has revoked her degree. She may be forced to resign from Chancellor Angela Merkel’s cabinet.
- Kindergartner Suspended For “Bubble-Gun Terrorism” (Alt-Market, jan 21, 2013):
Now obviously, anyone with any common sense would react to this story with immediate shock and disbelief. The 5 year old child merely discussed “shooting bubbles” with a bubble gun she didn’t even have with her, and she is immediately suspended? How does this compute? Have school districts gone completely insane? Actually, I believe they are quite aware and cognizant of what they are doing…
“A 5-year-old girl was suspended from school earlier this week after she made what the school called a “terrorist threat.”
Her weapon of choice? A small, Hello Kitty automatic bubble blower.