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Journal of No. 118


December 6th, 2011

up and away @ 09:53 pm


Spotted at pharyngula.



Somewhere a little to the *left* of the start of that graph, you'd have found me 'Occupying' Royce quad with a few hundred companions, tearing down barricades, getting face to face with the UCPD, shouting at the Regents who were meeting inside the building to raise our fees yet again.

Strangely, one of the things I remember most was when the meeting was over, and the Regents were all spirited away, and people were dispersing, was shaking hands with the officers.
 
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From:alex_victory
Date:December 7th, 2011 02:08 pm (UTC)
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How can there be any doubt that college debt is the new bubble?

The scary thing is that I don't know how this bubble pops, since there's no way to permanently default on college loans. They're always there.

My worry is that the college debt bubble will turn into indentured servitude. You can't get a job without a college degree, you can't get a college degree without tremendous debt, once you have the job you can't enjoy it because all your earnings are going to pay off your tremendous debt.

And then you've got no money for goods or services and the economy collapses and the financial services sector owns everyone and everything.

Journal of No. 118