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Student Loan Debt Forgiveness A Giveaway To Democrat ‘Overproduced Elites’

Student Loan Debt Forgiveness A Giveaway To Democrat ‘Overproduced Elites’

Democrats are the party of overproduced elites, many of whom took on unsustainable government-backed debt in order to obtain that elusory elite status. The counter-elites already are making allies among the commoners.

https://www.youtube.com/watch?v=tVplDz5yO-I

Like the proverbial broken clock, The Atlantic takes a break occasionally (not quite twice a day) from pushing fake anti-Trump narratives and derangement, and runs an opinion article that sheds meaningful light on the pathologies that drive leftist cancel culture and authoritarianism.

One such article is The Next Decade Could Be Even Worse, by Graeme Wood.

The title doesn’t give away the important point, nor does the sub-headline: “A historian believes he has discovered iron laws that predict the rise and fall of societies. He has bad news.”

The article focuses on the views of U. Conn. Professor Peter Turchin, “one of the world’s experts on pine beetles and possibly also on human beings.”

Here’s the important point — our “elite” class is the problem. We have too many of them. They are too unproductive. They turn on each other and society to justify their existence. Turchin doesn’t focus on ‘the left,’ but the point he makes in the current political climate is most relevant to leftist cancel culture and aggressiveness.

The year 2020 has been kind to Turchin, for many of the same reasons it has been hell for the rest of us. Cities on fire, elected leaders endorsing violence, homicides surging—­­to a normal American, these are apocalyptic signs. To Turchin, they indicate that his models, which incorporate thousands of years of data about human history, are working. (“Not all of human history,” he corrected me once. “Just the last 10,000 years.”) He has been warning for a decade that a few key social and political trends portend an “age of discord,” civil unrest and carnage worse than most Americans have experienced. In 2010, he predicted that the unrest would get serious around 2020, and that it wouldn’t let up until those social and political trends reversed. Havoc at the level of the late 1960s and early ’70s is the best-case scenario; all-out civil war is the worst.

The fundamental problems, he says, are a dark triad of social maladies: a bloated elite class, with too few elite jobs to go around; declining living standards among the general population; and a government that can’t cover its financial positions….

Of the three factors driving social violence, Turchin stresses most heavily “elite overproduction”—­the tendency of a society’s ruling classes to grow faster than the number of positions for their members to fill….

Turchin goes on to describe how overproduction of elites gives rise to counter-elites looking for “allies among commoners.” Like Trump and ‘elite’ supporters of Trump. Which leads to social strife, conflict, and potentially, breakdown.

Having read and bookmarked this article, I thought of overproduction of elites as the Democrats launched a push to foregive $50,000 in student loan debt by executive order in a Biden administration.

Democrats are the party of overproduced elites, many of whom took on unsustainable government-backed debt in order to obtain that elusory elite status. The counter-elites already are making allies among the commoners, the majority of the country that either didn’t go to college, went to college without taking on excessive debt, or paid down their student debt through income earned from working through or after college.

It won’t in itself lead to strife and societal breakdown, but it’s another brick in that road. Why should a plumber or electrician or factory worker or landscaper or parents who saved their entire lifetimes for their kids colleges or students who didn’t take on excessive debt or who worked it off … have to pay for Democrats with ‘feminist dance therapy‘ degrees?

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Comments

The Friendly Grizzly | November 17, 2020 at 9:15 pm

Just how much more will the productive put up with before we start some “adjustments “?

    A lot.

    I say this because Republicans pleaded to be able to observe vote counting, but there was very little espionage apparently (hidden spy cameras, etc.) in the facilities and they didn’t fight their way in and obstruct the frauds.

    It would have been an opportune time for things to turn physical, and they did — by the Dems only. We complained and retreated.

      The Friendly Grizzly in reply to artichoke. | November 17, 2020 at 11:13 pm

      No “we” here. I’m not a Republican; I still gave my testicles. I walked away from Rhe a party of Eunuchs long ago.

      I generally vote Republican only because they have less-repulsive candidates.

        The Friendly Grizzly in reply to The Friendly Grizzly. | November 17, 2020 at 11:14 pm

        HAVE. The GOP ‘gave’ theirs decades ago.

        Interesting, Griz. On Monday I sent in a voter registration card changing my party affiliation to D – partly out of protest and partly out of a whole host of other reasons. It doesn’t mean I am one of them, not by a long shot. The spineless RINOs that left our guy out hanging in the wind need to get the message. I will continue to vote for smaller government and fiscal responsibility. My act was symbolic; a shot across the bow; a “this party sucks – later, assholes.”

        (Still holding out hope for the greatest President of our lives, Donald J. Trump, to be sworn in for a second term.)

    Now the Republicans folded and certified Wayne County MI, because of the usual leftist bashing. Apparently there wasn’t an army protecting them and pushing back. We sit back and demand that the system works, and when it gets thick and nasty, we step back. So they can count on winning such battles.

    They know they’re in a war. That makes them the smarter side.

      notamemberofanyorganizedpolicital in reply to artichoke. | November 17, 2020 at 11:37 pm

      Jack Posobiec ??
      @JackPosobiec
      Many disturbing and deeply bigoted tweets found on @NedStaebler’s deranged twitter account

      He is a county official responsible for certifying elections in Michigan, who promotes violence against Trump supporters

      Kyle Becker
      @kylenabecker
      ·
      Nov 17, 2020
      Michigan.?️?

      State senate throws down to @JocelynBenson, accusing Wayne Cty of counting:

      • ineligible ballots
      • same batches numerous times
      • backdated ballots
      • late ballots
      • ballots with false identity information

      Forensic fraud investigation beats counting.

Lost me at “The Atlantic”.

Quoting them in a serious context is like quoting Pravada, CNN MSNBC, or Teen Vogue.

    healthguyfsu in reply to TheFineReport.com. | November 17, 2020 at 9:22 pm

    The Atlantic tries to style itself as unbiased and, as a result of those little occasional adventures, stumbles into some decent insight. It is rare but happens. It doesn’t change my opninion of the publication, but I don’t argue with good logic.

    I’ll add to the aggrieved. Why should those without kids have to pay for other people’s kids? This has always been waved off as “better for society”, but I think that veil of being some kind of insightful mic-drop point is wearing very thin.

      It just follows marching orders.

      So now they think they won the election, they’re suddenly ‘conservative’ with the loan program.

      The real purpose of the student loan program was to enslave young people – after indoctrinating them. The left isn’t giving that up.

    The devil quotes Pravada.

notamemberofanyorganizedpolicital | November 17, 2020 at 10:09 pm

“Over Processed,” Self-appointed, Pompous Nare-do-well (LOL) “elites”…….

A bit off topic, but when I tried to pull up LI earlier this evening (11/17, around 10:30 Eastern) I got a host error. Now it’s working. That was scary.

More on topic, The Bride and I have been discussing the idea of pulling some $$ out of our retirement accounts to pay off some debts in case the inflation rate goes sky-high in the next few years and we don’t have anything left in the accounts to draw from. We were in our twenties during the “stagflation” days decades ago and we remember it wasn’t fun.
.

    notamemberofanyorganizedpolicital in reply to DSHornet. | November 17, 2020 at 11:36 pm

    Hyperinflation would make your debts about the size of first-class postage stamps.

      And our retirement would be squeezed by flying prices and crashing income. So you see what we’re looking at.
      .

        artichoke in reply to DSHornet. | November 18, 2020 at 11:26 am

        That’s why people try to find a better return — gold, bitcoin, etc. I am not telling you those things will go up, they could go down, I have no advice, but it is true that if you expect hyperinflation, don’t pay down fixed rate debt.

        I don’t expect hyperinflation because our debts are in dollars, and we print dollars. Hyperinflation happens when your debts are in a currency you don’t print, and when confidence collapses, your currency can’t buy as many dollars to pay down debt, so your currency collapses more …

    thad_the_man in reply to DSHornet. | November 17, 2020 at 11:40 pm

    Down for a couple of hours.

    William A. Jacobson in reply to DSHornet. | November 17, 2020 at 11:50 pm

    It was an outage at our host, MediaTemple (and also its parent corp., GoDaddy): “there appears to be a widespread network issue affecting multiple datacenters, resulting in an outage across our AccountCenter as well as multiple services”

    jakebizlaw in reply to DSHornet. | November 18, 2020 at 12:11 am

    This retired bankruptcy lawyer says “probably wrong”. Your retirement accounts are exempt from creditors (unless in 7 figures). Most of your debts are probably dischargeable. Seriously, get some legal or financial planner advice before implementing that strategy.

    amwick in reply to DSHornet. | November 18, 2020 at 12:36 pm

    You can keep an eye on LI through twitter or parler. Better than nothing…

    hopeful in reply to DSHornet. | November 18, 2020 at 1:03 pm

    not a member is right. Inflation favors debtors– a constant $$ debt is paid off with depreciated dollars. Also, I would wait until one actually arrives before doing anything as drastic as raiding your retirement accounts. Paying off debt is always a good idea–why to paying it dow out of current income instead?

    henrybowman in reply to DSHornet. | November 19, 2020 at 12:20 am

    It was fun if you had no debts. 18% CDs? I sure miss those!

re “forgive $50,000 in student loan debt by executive order”

How is this legal? Is this some sort of presidential pardon?

    Milhouse in reply to Cache. | November 18, 2020 at 1:23 am

    Since the money is owed to the federal treasury, I assume the president can order the treasury to waive payment.

      And the legal basis of this is?

      What ever happened to Article II, Section 3?

      [The President] shall take Care that the Laws be faithfully executed…

      Given the huge aggregate amount of money involved and the laws on the books, this is no trivial discretionary matter or minor technicality in enforcement. Total student loan debt is $1.6 trillion. The power to pardon is the only avenue I see to do this.

A Lesbian Studies PhD in every pot!

    The Friendly Grizzly in reply to TheFineReport.com. | November 18, 2020 at 7:15 am

    I wasted my time on a Broadcasting and Film major. Yes. Here is one of LI’s most severe critics of Styrofoam majors, and he took a Styrofoam major. Guilty!

    But: no debt.

    After attemmpts to get on with several stations, both small and not so small I went to work so I could feed and house myself. I am, relatively speaking, a failure compared to my high school classmates, but was, and still am, self-sufficient.

This might sound strange, but I am for partial forgiveness of student loans. The students should have known better but they were victims of the university.

In exchange for this tie student loans to universities and departments with eligibility dependent on how many students in that university and that department seek forgiveness. The more students that seek forgiveness the harder it is to qualify.

Right now all universities don’t give a damn about individual students. If you come in with an 80 IQ and want a degree in math, they will give it to you, so long as you have cash or can get the loan. Of course they do care about graduates overall. They want a certain percentage to be succesfull so they can donate to their endowment. Now they’ll have skin in the game to make sure they are preparing their students to be successful.

Of course, the universities will want to cheat. For example, tell a student to major in engineering to qualify, then transfer to French Literature. So build in safe guards. In this case, if a person transfers then he must meet the eligibility requirements in the department he transfers to or no more loan.

    artichoke in reply to thad_the_man. | November 18, 2020 at 4:55 pm

    In the 2016 campaign in a speech he gave in Canada(!), Trump outlined some ideas for student loans. He proposed partially underwriting them privately, so you have the private sector approving your risk.

    One can expect they would approve loans to those in good majors and likely to graduate in those majors. If they fund their 10%, the government would fund the other 90%. But if you want that grievance studies degree and the grievance studies job market isn’t good, you might have to pay cash to pursue your academic passion.

      henrybowman in reply to artichoke. | November 19, 2020 at 12:24 am

      The irony is that as long as the grievance studies people can successfully extort American industry, grievance studies positions will not be lacking.

Student Loan Debt Forgiveness = money laundering. Taxpayer money flows to universities and then to the Democrat Party.

Follow the money. This is more corruption. Philosophical reasoning is not needed.

I wrote to my inept Senator (Warren) and old her NO. What’s next? A plan to forgive Ferrari car loans?

Me and the Mrs live extremely frugally over the years and thus were able to give the kids a debt free college education. What suckers were we!

The idea that a nation’s over-production of elites leads to social and political instability — and sometimes revolution — has been well-known among political scientists for over 50 years. I remember this being one of the very first things I learned in my college political science courses in 1969.

Unfortunately, the idea has been so thoroughly suppressed by academics and the media, and forgotten by regular folks, that by now it must be the most-suppressed and forgotten well-known idea since, well, the facts that FDR’s policies prolonged the Depression, Alger Hiss was actually a Communist spy, and the Rosenbergs actually gave nuclear secrets to the Soviets. As a result, the U.S. has been over-producing elites at an alarming rate for over 50 years.

What accounts for this national suicidal behavior? For ordinary citizens I suspect it’s just a combination of misguided egalitarianism and well-meaning ignorance. For most politicians and government and academic bureaucrats, I suspect it’s ambition / corruption. But for a small but dangerous minority who know exactly what happens when a country over-produces elites — here I’m thinking of people like Bill Ayers and Barack Obama — it’s clear that social and political instability is the goal.

Th student loan program was never meant to create a class of elites. It became a means of funding Progressive liberal training grounds; aka colleges and universities. But, it was initially hidden in the government guaranteed Student Loan program set up in 1965. The institutions saw a way to increase their income stream and began raising prices. This continued until the lenders told the government they could not continue to make these loans, due to the recession of 2008. So, the government assumed all responsibility for the loan program in 2010. The institutions continued to increase prices.

Now, these institutions are significantly, if not totally, dependent upon the federal government. And, the Dems see a way to gain total control of the running of these institutions. Free education. Someone has to pay the bill for free anything. And, in this case it will be the taxpayer. Eliminating the student loans debt will allow the federal government to step in and guarantee a set payment for each student, just as with Medicare. It will mean that every school will have a guaranteed operating budget, which they can pretty much count on every year. Price controls will be instituted, but alumni and corporate donations will make up the difference and more. It will also allow the government to determine such things as curriculums and what is taught and by whom.

So, student debt forgiveness is just the first step to the federal government assuming fascistic control of another industry, secondary education. Of course, the people will pay for all of this, again.

    artichoke in reply to Mac45. | November 18, 2020 at 4:57 pm

    Trump administration, right again! The only way out of this conundrum is school choice. It didn’t sound very sexy 4 years ago when DeVos announced that as a priority, but now I can see it’s the key to deflating the power of the educrats.

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