Yeah maybe they theoretically don't look so bad from an extremely short-sighted balance sheet point of view, but they will completely destroy capitalism as we know it.
Since the mid/late 80s a generation has been brainwashed with TV and other forms of constant commercialized media into believing that self-actualization comes from consumption, fitting in and having more than others. We have also been brainwashed into believing we must go to college to be successful (that is, good) people. Now we can say this is the fault of the parents, or its the fault of the corporations or whatever. Doesn't matter. Point is, this is what is happening.
We have reached a structural employment crisis. There are not enough jobs. We can deduce statistically that those with college degrees are likely to do better, given extremely broad aggregate measures. While college can be highly helpful for some people, it isn't meant for everywhere. The promised jobs don't exist. We don't need 10,000 PHDs in every obscure social science, there is no known way to employ these people productively in existing businesses.
You may ask why? Why is it that we don't know how to use these people in society? Why don't the jobs exist?
Because our generation has been trained to be law-accepting, servile, submissive and rule-loving. We have had creativity, empathy and patience trained out of us. Initially this was viewed as good. Marketers thought they were creating perfect consumers, who would continue buying things forever. It was perfect monopoly capitalism: installing the idea of unique brands in children at ages as early as possible and making them believe only those brands could bring them joy. Perfect consumers.
What these idiots forgot is that CONSUMPTION ALONE DOES NOT MAKE AN ECONOMY WORK. They didn't train a creative productive workforce! They trained consumers! This is a huge part of why the economy is dying.
For the last 10 years, corporations tried to just hand jobs to otherwise useless idiots who only knew how to consume. Guess what? A corporation where all the grunt work is done by barely thinking consumeristic dolts, where the management is done by idiot consumption-side, short-sighted managers, has led to a crisis of productivity.
We find ourselves in a state where an entire generation has been psychologically trained that 'consumption = happiness' but that generation is also massively un- and underemployed. That is to say, our economic system has found no productive use for consumers.
The college loan crisis is the last hurrah of the system. As droves of trained idiot consumers begin to realize they are morons, they seek out education so that they may gain employment, so that they may continue to consume.
This is seen by the old idiot monopolists as a marketing opportunity. The monopolists planned for a wave of lifelong consumers. They sell us college degrees even though they know that 6-7/10 of us still aren't going to get a job we're qualified for. They didn't plan for a wave of lifelong wage earners.
They have no idea what to do with us BECAUSE THEY ASSUMED WE WOULD ALWAYS HAVE MONEY TO SPEND. Dunno how you're able to do much spending without any income. Such is the idiocy of mainstream 'keynesianism' and 'job creating' economic policies. Nothing grows by consumption alone, not in biology, not in physics, not in human economic interactions. There must be some transformative production of a new useful thing!
Well, ok, I'm wrong, there is one thing that grows by consumption alone with no creative production. CANCER.
The student loan bubble is the last gimmick, the last joke before everything comes falling down and a new social order is implemented. Our generation is realizing we have been lied to our entire lives. Consumerism brings you only despair, uselessness and mental disorders. To modify George Carlin's saying, we are finding that the American Dream is actually the American Nightmare. There are no jobs because none of these marketers know anything about economics, they just figured the money would come from somewhere.
We will realize we need to make our own economy, seperate and apart from these short-sighted psycopaths who have literally manipulated the thinking of much of our generation from birth. We will wake up from the American Nightmare. We will realize that it makes no sense to go 60,000 dollars in debt for nothing. Nothing but a pat on the back from our loan-shark financial rapists, thanking you for selling yourself into debt-slavery. Remember kids, student loan debt is not dischargeable in bankruptcy! Your wages will be garnished for the rest of your life!
We will stop going to college, we will drop out and make our own society. It is quite possible this transition will be extremely violent, though it does not have to be. Either way, when students begin en masse simply refusing to enroll, refusing to make loan payments or simply refusing to pay money they don't have for a service they don't need, the student loan bubble will collapse, and it will probably be the death-nell in modern Anglo-American globalist crony capitalism, as the shock waves emenating from the collapse of the student debt market will be at least as financially devastating as the collapse of home mortgages. Its likely it will be even worse (for the current order), as our generation will begin a widespread all-out revolt against consumerism, not by choice but by necessity, as we will be the new underclass if we do not pull ourselves up by our own boot-straps.
I think the way forward is co-ops, permaculture, and sustainable energy. We have to show these yahoos that globalist monopolistic capitalism is not responsive to true social desires. Its not good enough for us. We can do better.
Original Reddit post
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