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Kindergarten debts

By Tuesday, March 3, 2020 Interviews , Permalink

FRONT RUNNING: Student Debt, March 2, 2020 Topic: Student Debt || Guests: Steve Keen, Michael Hudson, Randy Voller MAX KEISER: Welcome to Front Running 2020 with Max Keiser and Stacy Herbert and a bevy of special guests right here in fabulous, hipster Brooklyn. I'm feeling it. So Stacy, this episode is all about student debt. STACY HERBERT: And the students, of course, are the Millennials and Generation Z. They like the candidates promising to get rid of all the student debts. There's $1.6 trillion in outstanding debt today in America. That is up from $363 billion in just 2005. Joining us to discuss this, Dr. Michael Hudson, Professor Steve Keen and Randy Voller. Professor Steve Keen, of course, you talk a lot about debt and in fact the rate of increase of ...

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Are Students a Class?

By Wednesday, May 31, 2017 Articles Permalink

Students usually don’t think of themselves as a class. They seem “pre-class,” because they have not yet entered the labor force. They can only hope to become part of the middle class after they graduate. And that means becoming a wage earner – what impolitely is called the working class. But as soon as they take out a student debt, they become part of the economy. They are in this sense a debtor class. But to be a debtor, one needs a means to pay – and the student’s means to pay is out of the wages and salaries they may earn after they graduate. And after all, the reason most students get an education is so that they can qualify for a middle-class job. The middle class in America consists of ...

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Another Housing Bubble?

By Wednesday, May 24, 2017 Interviews , Permalink

TRNN, May 24, 2017. Economist Michael Hudson explains that even though housing prices are back up at 2008 levels homeownership is at a much lower level and banks have their loans guaranteed by the US government SHARMINI PERIES: It's The Real News Network. I'm Sharmini Peries, coming to you from Baltimore. Just prior to the economic collapse of 2007-2008 there were several economic indicators which could have given us a clue of the impending disaster. If we look at the economic situation today in the US, we find many of these very same indicators. Housing prices are getting very high. Credit card debt has begun to rise again. Student loans are in default, many of them, and the stock and bond markets reached an all-time high.  Are we actually in another housing bubble ...

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Banking on Student Debt

By Thursday, March 21, 2013 Interviews , Permalink

More at The Real News Student debt is the new growth zone for banking revenues. With no student bankruptcy permitted, this is akin to a low risk revenue stream for the financial industry, now second in size to mortgage debt. Solution to Student Debt is to Get the Banks Out of the Education Business Michael Hudson: Crippling student debt, which is also a drag on the whole economy, developed as governments pushed the burden of higher education costs onto students and pushed them into the arms of the banks - PAUL JAY, SENIOR EDITOR, TRNN: Welcome to The Real News Network. I'm Paul Jay in Baltimore. A recent New York Times editorial about the student debt says this: ...

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