The academic bubble is ready to burst, all the while academics in their infinite wisdom tell us they know best how to run our society and civilization – don’t you find that odd? It seems they haven’t gotten their own house in order, and yet, want our entire country to run like a giant college campus – interesting indeed˳ These same academics want to tell us how to vote, re-distribute wealth, and how to think – well, I think their day of reckoning is right around the corner – and I fear what’s to come will not be pretty˳ No, I don’t want to be the one to say; “I told you so˳” Surely, there are others with more social media followers who see the reality of the situation to spread that in-your-face slap when the time comes˳ Okay so, let’s talk shall we?
40% of the student loans are in technical default (90-days in the rears with no further agreement to catch up on payments)˳ That is 583 Billion Dollars in defaulted loans that we may never see payment of˳ Trust me when I tell you that the College Loan Bubble has burst and is extreme crisis˳ Why is this allowed to continue? Well, if it stops it will collapse academia, become a huge problem for our Federal Government, add over 1/2 Trillion to our $20 Trillion National Debt, and cause the angst of millennials who the Democrats have all but promised “Free College For All” during the 2016 Presidential Election˳
Still, by the time the election is over the Student Loan debt will be 1˳57 Trillion Dollars, even though the official figures claim it only 1˳2 Trillion which was actually the figure before the start of the 2015 Academic Year˳
If you don’t see the enormity of the problem, let’s talk about the auto industry right now˳ It turns out that the number of “Subprime” auto loan defaults are at another all-time high of 4˳5% – Subprime meaning loans made to those without proof of ability to pay or marginal credit ratings, perhaps coming from low-socioeconomic borrowers˳ Last time this happened the auto industry crashed and needed a big bailout, and we are reaching those same numbers now – and realize this is only 4˳5% not 40-50% like the student loan problem˳
Scared Yet? Well, it is Halloween 2016 today, and I am, and no, there won’t be any good witches flying in on their brooms to win the next election to use hocus pocus to make this problem go away – indeed, both presidential candidates are likely to see the auto loan problem get worse, as well as the student loan debt problem – not to mention our stock market breaking all-time highs with PE Ratios and major stock market indices records˳
Source by https://ezinearticles˳com/?Student-Loan-Debt-Clock-Is-Ticking-Away-At-1˳57-Trillion-Dollars-On-Election-Day-2016&id=9563929