[lbo-talk] ] Fwd: [Pen-l] "Today, We are all Norwegians?"

Dennis Redmond metalslorg at gmail.com
Mon Jul 25 18:13:22 PDT 2011


On Mon, Jul 25, 2011 at 6:02 PM, Michael Smith <mjs at smithbowen.net> wrote:


> Multiculturalism, the succeeding decade, didn't
> show the same interest we had in overturning the table.
> The idea seemed to be that the table was fine, as long
> as every group had a representative seated at it.

Of course, the table itself was shrinking, thanks to the decades-long assault of neoliberalism on higher education. Result: massive tuition hikes, driving students into massive debt.

Total student loans are now closing in on the $1 trillion mark, and unlike credit cards or mortgages, there's no way to default or get rid of it. The blogwriter behind Dr. Housing Bubble recently pointed out that this is basically ensuring that the housing bubble turns into a multi-decade bust, because millions of young people won't have the earning power to take out mortgages.

-- DRR



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