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algreeny
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Welcome to the Third World, Part 8: A PhD Is Now a 'Path to Poverty'

- John Rubino - Dollar Collapse

The low interest rates discourage savings and encourage borrowing/debt. Debt is slavery. Debt in the form of government school loans is "lifetime" slavery. Government interventions in "free" markets causes havoc and unusual symptoms as described in this very well written and meanigful article. The cure for a free market economy is less (smaller) government and no intervention. Since this is not likely to happen anytime soon it will take very careful manuvering to avoid the traps described.

Since the financial/banking industry is now completely in control of the political/military system, don't look for things to be as they were or you will only be continually disappointed. It's a new paradigm, bizzarro world in Seinfeld terminology. Little makes sense when looked at through the light of the traditional lenses of behavior or effort and the expectd results. Example: MF Global cannot account for a reported billion dollars in segregated client funds. One expects the responsible party for this apparent theft to be sought out, brought to trial and then sentenced. One would expect this because this is what traditionally has happened. Not in bizzaro world where it appears the parties are too well connected to the elite powers in control. Another example: Fraud charges for elite players are "settled" out of court by the agency in charge of policing the actions of certain groups. Bizarrow world. No judicial system needed.

Generally speaking, Americans are hardy and hard working because in a free market economy this has traditionally been rewarded. Now looked at through the lens of tradition it looks strangely distorted and only meaningful in the light of a way long gone by.

Commented 4256 days ago

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Beginning of the headline : Newly-minted anthropology PhD Sarah Kendzior has written a chilling piece for Aljazeera on what things are really like in academia these days: The closing of American academia It is 2011 and I'm sitting in the Palais des Congres in Montreal, watching anthropologists talk about structural inequality... Read More

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