The bloodsuckers’ next bubble

The finance industry gets its blood meals from a succession of bubbles driven by its victims’ greed.   Each lasts a few years.  Victims seldom spot the next one.

Endowment mortgages…

Emerging Markets…

Building Society demutualisations…

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Zero-dividend preference shares…

DotCom and Tech shares…

Private equity buy-outs…

Liar loans

Monetised mortgages

real house price trend graph

NINJA loans…

Credit Default Swaps…

Debased money

Next in the series being lined up for banksters by government banksters-in-waiting is university loans…

Is College Worth It?

Thiel Fellowship Pays 24 Talented Students $100,000 Not to Attend College

Bureaucrats Shut Down Cheap, Online University Courses

“Management guru Peter Drucker wrote a generation ago that any industry that faces price competition from a new source that offers the same product or service for 10% of the existing price will be replaced by the existing industry. Drucker saw what this means for university education.

‘Thirty years from now the big university campuses will be relics. Universities won’t survive. It’s as large a change as when we first got the printed book. Do you realize that the cost of higher education has risen as fast as the cost of health care? . . . Such totally uncontrollable expenditures, without any visible improvement in either the content or the quality of education, means that the system is rapidly becoming untenable. Higher education is in deep crisis. . . . Already we are beginning to deliver more lectures and classes off campus via satellite or two-way video at a fraction of the cost. The college won’t survive as a residential institution. Today’s buildings are hopelessly unsuited and totally unneeded. (Robert Lenzner and Stephen S. Johnson, “Seeing things as they really are,” Forbes, March 10, 1997)’ “

Check out the  hidden charges.

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2 Responses to The bloodsuckers’ next bubble

  1. Mireille says:

    Do you know this Frontline documentary, College Inc, about the growth of the for-profit higher education industry in the US? Really scary.

    • ISOwatcher says:

      The documentary was news to me, but not surprising. The Witchdoctor has written on the commoditisation and dumbing-down of professional medical education. The US shows clearly where this is leading. The student debt bubble will replace the mortgage bubble. In this case, no student will be able to hand back their certificate and walk away.

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