Jan 06

Here Comes The Student Loan Bailout (ZeroHedge, Jan 5, 2013):

2012 is the year the student loan bubble finally popped. While on one hand the relentlessly rising total Federal student debt crossed $956 billion as of September 30, and was growing at a pace that will have put it over $1 trillion by the end of 2012, the one data point confirming the size, severity and ultimately bursting of this latest debt bubble was the disclosure in late November by the Fed that the percentage of 90+ day delinquent loans soared from under 9% to 11% in one quarter.

Which is why we were not surprised to learn that the Federal government has now delivered yet another bailout program: this time focusing not on banks, or homeowners who bought McMansions and decided to not pay their mortgage, but on those millions of Americans, aged 18 to 80, that are drowning in student debt – debt, incidentally, which has been used to pay for drugs, motorcycles, games, tattoos, not to mention countless iProducts. Which also means that since there is no free lunch, all that will happen is that even more Federal Debt will be tacked on to replace discharged student debt loans, up to the total $1 trillion which will promptly soar far higher as more Americans take advantage of this latest government handout. But when the US will already have $22 trillion in debt this time in four years, who really is counting? After all, “it is only fair” that the taxpayer funded “free for all” bonanza must go on.

Continue reading »

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Dec 20

Sorry (Poor) Kids: The Road From Rags To Riches No Longer Passes Through College (ZeroHedge, Dec 19, 2012):

… at least statistically speaking. Yes, outlier cases will always exist and there will always be a rags to Geology 101 to riches story somewhere, but as the following fascinating and very much damning (the entire higher learning industry of the US) diagram from Reuters demonstrates, colleges, in their once vaunted role of a “great equalizer for the classes” as defined over a century ago by Horace Mann, no longer exist.The chart in question?

What does the above chart imply? Nothing more than that for the vast majority of people, college degrees are the modern-day equivalent of very, very expensive snake oil.

Continue reading »

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Dec 19

Number of homeless students hits new record: Over 1 million (RT, Dec 18, 2012):

The number of homeless students in America topped one million for the first time last year as a result of the economic recession, a number that has risen 57 percent since 2007.

The US Department of Education found that of these 1,065,794 children, many lived in abandoned homes, cheap hotels, stations, church basements and hospitals. Some spent their time sleeping over at the houses of various friends whenever they could. Others fell victim to drugs and sexual abuse, in some cases trading sexual acts for food, clothing and shelter or selling illegal drugs.

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Dec 08

‘Sex for student fees’ man unmasked to be IT consultant ‘with top-level MoD security clearance’ (Independent, Dec 6, 2012)

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Nov 28

See also:

America’s Lost Decade In One Simple Chart

The Scariest Chart Of The Quarter: Student Debt Bubble Officially Pops As 90+ Day Delinquency Rate Goes Parabolic (ZeroHedge, Nov 27, 2012):

We have already discussed the student loan bubble, and its popping previously, most extensively in this article. Today, we get the Q3 consumer credit breakdown update courtesy of the NY Fed’s quarterly credit breakdown. And it is quite ghastly. As of September 30, Federal (not total, just Federal) rose to a gargantuan $956 billion, an increase of $42 billion in the quarter – the biggest quarterly update since 2006.

But this is no surprise to anyone who read our latest piece on the topic. What also shouldn’t be a surprise, at least to our readers who read about it here first, but what will stun the general public are the two charts below, the first of which shows the amount of 90+ day student loan delinquencies, and the second shows the amount of newly delinquent 30+ day student loan balances. The charts speak for themselves.

This is how the Fed described this “anomaly”:

Outstanding student loan debt now stands at $956 billion, an increase of $42 billion since last quarter.  However, of the $42 billion, $23 billion is new debt while the remaining $19 billion is attributed to previously defaulted student loans that have been updated on credit reports this quarter. As a result, the percent of student loan balances 90+ days delinquent increased to 11 percent this quarter.

oh and this from footnote 2: Continue reading »

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Oct 24

YouTube Added: 02.08.2012

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Oct 19

Student loan debt hits record high, study shows (NBC News, Oct 18, 2012):

The average college student who graduated in 2011 had $26,600 in student loans, according to a new report, which estimates two-thirds of last year’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.

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Oct 15

“The era of micro-chipping students is now upon us. A school in Texas is punishing students who refuse to be micro-chipped.”
– Mike Adams, Natural News

Students who refuse to be micro-chipped are punished by tyrannical Texas schools (Natural News, Oct 15, 2012):

The surveillance society continues to expand across America, with those who refuse to go along subject to recriminations and reprisals.

That’s what’s happening to students at John Jay High School and Anson Jones Middle School in San Antonio whose parents refuse to have their children tracked by school officials.

Continue reading »

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Sep 28

Student Debt Weighs Down One-Fifth of U.S. Households (Yahoo News/The Exchange, Sep 27, 2012):

A record number of American households carry student loan debt, while the average outstanding loan balance is the highest it’s ever been, according to a new report from the Pew Research Center. The Pew analysis found that about one out of five (19%) households, or around 22.3 million, were burdened with student debt in 2010. That figure is more than double the 9% it was in 1989, and it marks a big jump from 15% in 2007.

Here are some of the more alarming figures from the report: Continue reading »

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Sep 12

The Student Loan Debt Bubble Is Creating Millions Of Modern Day Serfs (Economic Collapse, Sep 10, 2012):

Every single year, millions of young adults head off to colleges and universities all over America full of hopes and dreams.  But what most of those fresh-faced youngsters do not realize is that by taking on student loan debt they are signing up for a life of debt slavery.  Student loan debt has become a trillion dollar bubble which has shattered the financial lives of tens of millions of young college graduates.  When you are just starting out and you are not making a lot of money, having to make payments on tens of thousands of dollars of student loan debt can be absolutely crippling.  The total amount of student loan debt in the United States has now surpassed the total amount of credit card debt, and student loan debt is much harder to get rid of.  Many young people view college as a “five year party“, but when the party is over millions of those young people basically end up as modern day serfs as they struggle to pay off all of the debt that they have accumulated during their party years.  Bankruptcy laws have been changed to make it incredibly difficult to get rid of student loan debt, so once you have it you are basically faced with two choices: either you are going to pay it or you are going to die with it.

But we don’t warn kids about this before they go to school.  We just endlessly preach to them that they need a college degree in order to get a “good job”, and that after they graduate they will easily be able to pay off their student loans with the “good job” that they will certainly be able to find.

Sadly, tens of millions of young Americans have left college in recent years only to find out that they were lied to all along.

As I have written about previously, college has become a giant money making scam and the victims of the scam are our young people.

Back in 1952, a full year of tuition at Harvard was only $600.

Today, it is over $35,000.

Why does college have to cost so much?

At every turn our young people are being ripped off. Continue reading »

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Jul 09

Indentured Students Rise as Loans Corrode College Ticket (Bloomberg, July 9, 2012):

Geraldine Damiani Brezler took out a $5,000 student loan in the late 1960s to study at the State University of New York. She became a nurse, got married, bought a house and repaid the debt in less than three years.

Today, her son, David, 38, owes about $85,000 in loans for a master’s degree in education at New York University. He can’t find full-time work, lives with his parents in White Plains, New York, and has deferred paying his debt for three years.

The financial-aid odyssey of two generations of Brezlers tracks the history of U.S. student loans, which, like the home mortgage, helped define the American dream. In the early years, the loan program let ambitious teens take on a small debt that could pay off with a lifetime of higher earnings. Now, the $1 trillion in outstanding student debt has become a drag on the economic recovery, a flashpoint in the presidential election and a threat to the egalitarian ideals of U.S. higher education. Continue reading »

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May 26

Students will be tracked via chips in IDs (San Antonio Express-News, May 26, 2012):

Northside Independent School District plans to track students next year on two of its campuses using technology implanted in their student identification cards in a trial that could eventually include all 112 of its schools and all of its nearly 100,000 students.

District officials said the Radio Frequency Identification System (RFID) tags would improve safety by allowing them to locate students — and count them more accurately at the beginning of the school day to help offset cuts in state funding, which is partly based on attendance.

Continue reading »

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May 26

Mass arrests: Over 700 Canadian protesters detained in police crackdown (VIDEO, PHOTOS) (RT, May 24, 2012):

Over 700 students have been arrested in Canada during the latest night of rallies against tuition fee hikes and the adoption of controversial bill that is widely seen as a tool to limit freedom of speech, association and assembly.

­Police in Montreal dispersed unsanctioned protests and arrested 518 demonstrators on Wednesday night. The arrests were also made in Quebec City, where some 170 were detained, and in Sherbrooke. There were no reports of injuries or casualties.

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May 26

Quebec Steps Closer to Martial Law to Repress Students: Bill 78 is a “Declaration of War on the Student Movement” (Intel Hub, May 19, 2012):

On Friday, May 18, the Québec legislature signed a special “emergency law” to “restore order” in the province following three months of student protests in a strike against the government’s proposed 80% increase in the cost of tuition. A legislative debate lasted all night and resulted in a vote of 68-48 in favour of the legislation.

The legislation has three main focal points: (1) it “suspends” the school semester for schools majorly affected by the strike, (2) it establishes extremely high fines for anyone who attempts to picket or block access to schools, and (3) it imposes massive restrictions on where and how people may demonstrate and protest in the streets.
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May 23

These Are The Colleges That Will Be Screwed When The Student Loan Bubble Pops (Business Insider, May 21, 2012):

We know the model is not sustainable,” said Lawrence T. Lesick, vice president for enrollment management at Ohio Northern University. “Schools are going to have to show the value proposition. Those that don’t aren’t going to be around.”

(The New York Times; May 14, 2012)

Very few topics have received as much attention here at Sense on Cents as the student loan/debt bubble.

In my opinion, the size, scope, and impact of this problem is an enormous anchor weighing down our next generation and our nation’s economy.

Continue reading »

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May 21

The Commencement Address That Won’t Be Given (Robert Reich, May 18, 2012):

Members of the Class of 2012,

As a former secretary of labor and current professor, I feel I owe it to you to tell you the truth about the pieces of parchment you’re picking up today.

You’re f*cked.

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May 21

Half of Florida high school students fail reading test (Reuters, May 18, 2012):

MIAMI – Nearly half of Florida high school students failed the reading portion of the state’s new toughened standardized test, education officials said on Friday.

Results this year from the Florida Comprehensive Assessment Test showed 52 percent of freshman students and 50 percent of sophomores scored at their grade levels.

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May 18

Student Loan Debt Collector Gets Paid $454,000 In Taxpayer Money (Huffington Post, May 17, 2012):

Debt collectors may have a worse reputation in the eyes of the public than members of Congress, ambulance-chasing lawyers and even sleazy tabloid journalists. And some recent headlines won’t improve their standing anytime soon.

The earnings of some student-loan debt collectors raised eyebrows when it was revealed this week that some of them make over $450,000, more than twice the pay of the U.S. Secretary of Education. Seven employees at Educational Credit Management, a Minnesota nonprofit group that works with the government to collect on loans in default, earned more than $400,000 through commissions up to 31 percent, reports Bloomberg News. ECM, whose CEO Richard Boyle earned $1.1 million in 2010, is one of 32 groups that oversee student loans for the government.

One of the debtors contacted by ECM is Susan Raposa, a special-education teacher in Massachusetts, who is struggling to pay off her $47,000 student loan balance. “I absolutely want to pay my fair share,” Raposa tells Bloomberg News. “But I’m going to live poorer than people on welfare.”

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Apr 24

Think The US Student Loan Bubble Is Bad? You Ain’t Seen Nothing Yet (ZeroHedge, April 23, 2012)

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Mar 29

Let’s see what those brilliant students will think about their actions, when their little brothers and sisters will start to die like flies from heart disease, cancer etc.

Disaster Debris Wide-Area Disposal: Tokyo Univ. Students to the Rescue with the Help from Largest Ad Agency in Japan (EX-SKF, March 28, 2012):

Students at the prestigious (at least hard to get in) Tokyo University have formed a group called “Project to Think About 3.11 Debris”. The group held a public symposium on March 28 on the Tokyo University Komaba campus, co-sponsored by Jiji Tsushin and others with “special support” from the Ministry of the Environment.

Their message: More information disclosure from the national government should help; there is a “silent majority” who would gladly accept disaster debris.

From the event co-sponsor Jiji Tsushin (3/28/2012):


Tokyo University students make proposals on disaster debris processing – information disclosure to dispel fears

東 日本大震災で発生したがれき処理の問題を東京大の学生らが議論する「3・11のガレキを考えるプロジェクト」(共催・時事通信社など、特別協力・環境省) は28日、放射能汚染に対する国民の不安を解消するため政府に一層の情報開示などを求める提言をまとめた。近く環境省に提出する。

“The Project to Think about 3.11 Debris”, where Tokyo University students discuss the issue of disaster debris from the March 11, 2011 earthquake/tsunami, issued its proposals to the national government to further disclose information to dispel citizens’ fears of radiation contamination. The Project is co-sponsored by Jiji Tsushin and others, with the special support from the Ministry of the Environment. The proposals will be submitted to the Ministry of the Environment shortly.

Continue reading »

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Mar 24

Student-Loan Debt Tops $1 Trillion (Wall Street Journal, March 22, 2012):

The amount Americans owe on student loans is far higher than earlier estimates and could lead some consumers to postpone buying homes, potentially slowing the housing recovery, U.S. officials said Wednesday.

Total student debt outstanding appears to have surpassed $1 trillion late last year, said officials at the Consumer Financial Protection Bureau, a federal agency created in the wake of the financial crisis. That would be roughly 16% higher than an estimate earlier this year by the Federal Reserve Bank of New York.

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Jan 17

YouTube Added: 16.01.2012

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Nov 29



Iranian Students Storm, Ransack British Embassy in Tehran (The Blaze/AP, Nov. 29, 2011):

TEHRAN, Iran (AP) — Hard-line Iranian students stormed the British diplomatic compounds in Tehran on Tuesday, bringing down the Union Jack flag and throwing documents from windows in scenes reminiscent of the anger against Western powers after the 1979 Islamic Revolution.

The mob surged past riot police into the British Embassy compound – which they pelted with petrol bombs and stones – two days after Iran‘s parliament approved a bill that reduces diplomatic relations with Britain following London’s support of recently upgraded Western sanctions on Tehran over its disputed nuclear program.

Less than two hours later, police appeared to regain control of the site. But the official IRNA news agency said about 300 protesters entered the British ambassador’s residence in another part of the city and replaced British flags with Iranian ones. The British Foreign Office harshly denounced the melee and said Iran has a “clear duty” under international law to protect diplomats and offices.

“We are outraged by this,” said the statement. “It is utterly unacceptable and we condemn it.”

It said a “significant number” of protesters entered the compound and caused vandalism, but gave no other details on damage or whether diplomatic staff was inside the embassy, although the storming occurred after business hours.
Continue reading »

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Oct 21

See also:

The Fraud At The Heart Of The Student Loan Market Exposed – To Many, This Market Has Become The Biggest Credit Bubble In America:

“To be sure, when the implications of the $850+ billion student loan bubble blowing up spread through the financial markets, it will make subprime seem like a tame walk in the park.”

Student loans outstanding will exceed $1 trillion this year (USA TODAY, Oct. 19, 2011):

Students and workers seeking retraining are borrowing extraordinary amounts of money through federal loan programs, potentially putting a huge burden on the backs of young people looking for jobs and trying to start careers.

The amount of student loans taken out last year crossed the $100 billion mark for the first time and total loans outstanding will exceed $1 trillion for the first time this year. Americans now owe more on student loans than on credit cards, reports the Federal Reserve Bank of New York.

Continue reading »

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Dec 17

In case you are wondering why protesters got violent watch this:

UK: Mounted Police Charge Fees Protesters (Video), Police Investigate Truncheon Attack

If police launch a truncheon attack like this one at protesters, which could have injured, even killed people, then I find it very much justified that the protesters defended themselves against it.

And now listen to this BBC ‘interview’…

Added: 13. December 2010

20yr old disabled protester Jody McIntyre was disgracefully dragged from his wheelchair by four MET police officers during student protests against the two tier education system being introduced to the UK.

BBC anchorman Ben Brown begins by badgering the shocked victim who suffers from Cerebal Palsy, for not reporting the incident immediately, but who was he going to call, the police or the Ghost Busters??

Next the BBC man suggests that Mr McIntyre menaced the officers by “wheeling towards them”, only to be told by Jody that he has no physical control of his chair. Jody was then asked if he threw any missiles at police, or shouted any abuse that would have provoked the police reaction. What dreadfully soul destroying words did these officers hear??

This is a shameful use of BBC interview intimidation techniques (IIT) against a victim of disgusting police brutality. Shame on the MET police and shame on the BBC.

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Dec 12

Unbelievable! This video is a must-see!

And what will happen next time?

This is complete madness.

All those police officers should be fired and charged with assault.

The police watchdog launched an independent investigation today after a 20-year-old student was left unconscious with bleeding on the brain after being hit on the head with a police truncheon.

Alfie Meadows, a philosophy student at Middlesex University, was struck as he tried to leave the area outside Westminster Abbey during last night’s tuition fee protests, his mother said.

The Independent Police Complaints Commission launched an investigation, but warned that inquiries were still at an early stage.

After falling unconscious on the way to Chelsea and Westminster Hospital, Mr Meadows underwent a three-hour operation for bleeding on the brain.

His mother Susan, 55, an English literature lecturer at Roehampton University, said: “He was hit on the head by a police truncheon.

Continue reading »

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Dec 10

Added: 9. December 2010

Mass demonstrations by thousands of students and trade unionists in central London against an increase in tuition fees, are growing more violent.

It’s the latest and the largest in a string of rallies against sweeping austerity measures and budget cuts across Europe.

What started as a relatively peaceful march later turned into violent clashes with the police, which is largerly outnumbered by the demonstrators.

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Nov 21


By Ed Dante

Editor’s note: Ed Dante is a pseudonym for a writer who lives on the East Coast. Through a literary agent, he approached The Chronicle wanting to tell the story of how he makes a living writing papers for a custom-essay company and to describe the extent of student cheating he has observed. In the course of editing his article, The Chronicle reviewed correspondence Dante had with clients and some of the papers he had been paid to write. In the article published here, some details of the assignment he describes have been altered to protect the identity of the student.

The request came in by e-mail around 2 in the afternoon. It was from a previous customer, and she had urgent business. I quote her message here verbatim (if I had to put up with it, so should you): “You did me business ethics propsal for me I need propsal got approved pls can you will write me paper?”

I’ve gotten pretty good at interpreting this kind of correspondence. The client had attached a document from her professor with details about the paper. She needed the first section in a week. Seventy-five pages.

I told her no problem.

It truly was no problem. In the past year, I’ve written roughly 5,000 pages of scholarly literature, most on very tight deadlines. But you won’t find my name on a single paper.

I’ve written toward a master’s degree in cognitive psychology, a Ph.D. in sociology, and a handful of postgraduate credits in international diplomacy. I’ve worked on bachelor’s degrees in hospitality, business administration, and accounting. I’ve written for courses in history, cinema, labor relations, pharmacology, theology, sports management, maritime security, airline services, sustainability, municipal budgeting, marketing, philosophy, ethics, Eastern religion, postmodern architecture, anthropology, literature, and public administration. I’ve attended three dozen online universities. I’ve completed 12 graduate theses of 50 pages or more. All for someone else.

Continue reading »

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Oct 18

U.N. Human Rights Council endorses Gaza war crimes report

Added: 16. Oktober 2009

On 15 October 2009, former Israeli Prime Minister Ehud Olmert came to give the annual King Abdullah II Leadership Lecture at the University of Chicago’s Harris School of Public Policy.

Outraged that a man responsible for war crimes in Palestine and Lebanon that killed more than three thousand people during his term of office, community members confronted Olmert inside the lecture hall effectively preventing him from delivering his speech.

Continue reading »

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Jul 30

New students informed: No jabs, no enrollment


Another major school institution has implemented a mandatory vaccination policy that bars both new and current students who haven’t received the meningitis and MMR shots from enrolling for the coming academic year.

The University of Alabama recently sent out an e mail to all its students informing them that they had to provide proof of several different immunizations before they could register for their course.

Failure to provide such proof would mean the students would be forced to take the shots on campus at the Student Health Center – refusal to do so would prevent them from enrolling and could also lead to further judiciary punishment.

The e mail reads as follows;

All freshmen and all new students, regardless of classification, must have:

1) Proof of the meningitis vaccination (Manactra (preferred) or Menomune)
2) If you were born after 1956, proof of two (2) measles containing vaccinations. One of these vaccines must be an MMR vaccination after 1980.
3) Acceptable proof of tuberculosis screening within the last year.

This is a registration requirement, whether transfer or graduate.

If you are living off campus this is still a requirement. Please turn in proof of these immunizations and tuberculosis screening before moving into campus housing or the first day of class if living off campus. All vaccines and tuberculosis screening are available at the Student Health Center. Failure to submit your immunization and TB test requirement could slow down your moving into residence hall room.

The e mail also informs juniors and seniors already living on campus that they need to get a meningitis shot if they haven’t received one in the last four years, even though as the advisory admits, “This is NOT a regular childhood immunization and it was not a requirement when you entered the University of Alabama.”

“Failure of any student regardless of classification not meeting the immunization and tuberculosis screening requirement may result in a disruption in ability to register for classes and possible disciplinary action per Office for Judicial Affairs,” states the e mail.

The MMR vaccine has been linked to autism and inflammatory bowel disease and despite a UK government propaganda campaign to try and convince the public that it is safe, as well as an effort brainwash children, many parents have boycotted the jab in Britain.

Earlier this year, the Daily Mail highlighted the story of 5-year-old Melody Brook, who went from a bouncing and bubbly child to a virtual vegetable after she took the MMR vaccine.

The meningitis vaccine also provoked safety fears after 5,000 children suffered adverse reactions immediately after it was introduced in Britain.

As we have previously highlighted, there is no law in America, aside from those applying to medical workers, that says you or your child has to take any vaccine whatsoever, no matter what any executive order, requirement, mandate or policy dictates, there is no situation where you can go to prison for refusing a government vaccine under the U.S. constitution and the law of the land.

This was particularly prescient for the parents of more than 1600 children in Prince George’s County, Maryland, who in 2007 were told they could be put in jail for failing to get their kids vaccinated. Appearing on the Alex Jones Show, a state prosecutor involved in bringing potential criminal charges against the parents was forced to admit that there was no law that mandated parents to vaccinate their children.

The only way mandatory vaccinations can be enforced in this context is by removing privileges, as in the case with Alabama University preventing immunized students from registering, but many people would argue that education is not a privilege but a human right, and to deny a student enrollment because they refuse to have a needle jabbed in their arm is clearly discriminatory.

The only other way to implement mandatory vaccinations is of course by force, which is what many fear will happen in the event of a mass swine flu pandemic this fall which the government has already assured us is inevitable.

Continue reading »

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