Blog/America's Economic History
Posted Oct 18, 2015 by Martin Armstrong
The two major acts that the Clintons did perpetrate, which have set in motion our greatest crisis were (1) they repealed Glass-Steagall allowing banks to go nuts and return to proprietary trading of the 1920s at the direction of Robert Rubin of Goldman Sachs, and (2) they gave the banks absolute dominion over students by removing their right to declare bankruptcy on what they owe the bankers. No other class of debt has such an exception. And Hillary pretends to care about the people? Come on. She and Bill have done more for the bankers than any Republican ever did. Furthermore, ANY press that refuses to tell this truth is by no means FREE, but bought and paid for all the way.
It was the Clinton Administration that aided the bankers for on October 7, 1998, when President Clinton signed the Higher Education Amendments of 1998 (the 1998 HEA), which provided federal funding for education loans at a reduced rate of interest. However, Clinton sneaked in the 1998 HEA two specific changes regarding the collection of student loans that is a brewing part of the Sovereign Debt Crisis today for students cannot discharge student loans in bankruptcy and 65% cannot find a job in what they paid for. This has funded WORTHLESS education at outrageous prices creating a welfare system for academics to propagate stuff like global warming to screw us with even more taxes, and then bankers can lend money to students and turn them into economic slaves for life.
Too many students cannot find jobs that pay enough to fund student loans, so Hillary wants to double minimum wages rather than repeal what she did to start this mess. Many of the youth cannot get married and start a family because they typically cannot afford to by a home with huge student debt on the credit record. The marriage rate per 1000 has dropped from 8.2 in just 2000 to 6.8 in 2012. (Source: p70-125)
So what happens? Rentals are soaring as the next generation lost the ability to buy a home all because of the Clintons.
So let’s get this right since the media will NEVER question Hillary because she walks on water and the mainstream media is just equally bought and paid for else they would ask the question — WHY? And then there is Bernie who wants to raise taxes to subsidize even more worthless education. Even Trump is seriously wrong on his tax ideas. Nobody bothers to correlate anything and academics will never tell the truth for they benefit from this entire scam.
We are dangerously headed in the direction of a revolution because the media will not hold politicians to reality, bankers are just lining their pockets, and academics are on high maintenance welfare filling kids heads with worthless dreams. Meanwhile, 60% of the youth cannot get a job in what they paid huge bucks for and cannot buy a home with a debt burden that is crazy while 53% were unemployed in 2012. They are calling it the over-educated barista. We have a lost generation under socialism.
Society is just not sustainable moving in this direction. Unfortunately, those in the know are lining their pockets asking for more and more so they will NEVER change anything. This is what results in civil unrest for there is no democratic process to change it and the press surrendered their responsibility to protect society from corrupt government since they too ask – where’s my cut?
Tags: Bill Clinton, Clinton, Education, Glass Steagall, Higher Education Amendments, Hillary, student loans