Monday, November 22, 2010

Draining the Host

The parasitism of both finance and mercantilism has bled the U.S. working class dry. And the future looks awful, especially keeping in mind that student loan debt stays with someone even through bankruptcy.

Recent college graduates, those in the labor force with the freshest batch of knowledge and skills, are currently underwater and sinking fast with unprecedented student loan and personal debt. Average student debt for the class of 2008 was $23,200, an increase over four years of about 25%, meaning that students are knee deep in negative equity between their educational investment and actual earnings.(1)

1'How Are the Kids? Unemployed, Underwater, and Sinking- Baseline Scenario

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