Saturday, August 22, 2009

Debtor's Revolt?

A college education is no longer a privilege, but a necessity, if one hopes to secure his future, yet attending college and securing a foothold on the career ladder in America continues to get more difficult as we enter the new millennium.

Consider the unlikelihood of the dark cloud hovering around the horizon of our economy lifting anytime soon.

Consider the skyrocketing cost of a college education

Consider that only 19% of '09 graduates are employed currently.

Consider the unemployment rate is 15.3% amongst 20-24-year olds.

Then, consider the widespread proliferation of unpaid internships, and then consider many of these unpaid internships require payment!

Consider agency fees working people often pay to find employment despite the The Wagner-Peyser Act of 1933

Consider why, in a world of over abundance and continually advancing technology, it's so difficult for young people to start a career, achieve independence, start a family, etc.

Consider the destruction of usury laws that protected citizens from predatory lending.

Consider the $156 million spent to pass a bill to weaken bankruptcy protection for citizens.

Consider the more confusing and complex the financial arena becomes, the more personal responsibility is stressed (For ex. Bush's attempt at privatizing social security).

Consider stagnant incomes amidst skyrocketing costs of everything.

Consider housing over-valued by as much as 40%, which created an illusion of trillions of dollars of inflated wealth and that that wealth was the only wealth most Americans relied.

Consider the retrenchment of security nets for households over the last three decades.

Consider why the economy grows increasingly stacked against our young people and us.

Consider why it is so important to further divide society into two tiers: the haves and have-nots.

Then consider what's in it for whom, to keep Americans locked into a lifetime of debt servitude.

Debtors' revolt anyone?


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