Billionaire Warns Of Massive Economic Crash That Will Wipe Out Americas CollegesBy Mac Slavo For years the federal government has been subsidizing loans, much like they did with houses ahead of the 2008 crash. This has led to increased tuition costs and lending to individuals who will more than likely never be able to pay back their student loans. The end result, according to Mark Cuban, will be a bursting of the debt bubble, a significant drop in college tuitions, and an outright collapse of Americas institution of higher learning: College tuitions have exploded because of easy money guaranteed by Sallie Mae. So, if any student can borrow more and more money, and its guaranteed by the federal government, why wouldnt the colleges take it all? The problem is that bubble has led to over a trillion dollars in student loan debt, which is having a significant impact on the economy and its really holding us back in the economys ability to grow. Its holding back housing, its holding back apartment building, its holding back car sales, its holding back clothing sales anything thats not an absolute necessity, kids cant spend their money on. Thats a real problem for the economy and I think that bubble is going to burst. I think its inevitable at some point therell be a cap on student loan guarantees and when that happens youre going to see a repeat of what we saw in the housing market when easy credit for buying or flipping a house disappeared. We saw a collapse in the price of housing and were going to see the same collapse in the price of student tuition and thats going to lead to colleges going out of business. Though going to college was a stepping stone for bigger and better things several decades ago, the notion that having a degree is the only road to success today is one ofthe largest scams in U.S. history: College education is big business, and with easy Federal loans, prices for everything from tuition to text books is going through the roof. Once degreed, the majority of college grads are ill-equipped to handle the current marketplace. Many of those who entered college just five years ago simply cant find work in a 21st century economy thats imploding on all sides. What college grads are left with are massive loans that cant be repaid and a room in mom and dads basement. At one time, college was an investment. Today, its become indentured servitude. For parents and teens looking at colleges, we suggest taking a close look at the amount of money that will need to be spent and borrowed, compared to the benefits that will come out of the degree pursued. Thirty years ago, a bachelor of business would have been a desired degree to hold. In an economy with over 20% unemployed, one must ask: how many business administration and management jobs will there be four or five years from now, especially if we continue to lose production capacity to cheap foreign labor. A micro-documentary produced earlier this year by Crush The Street exposes the scam for what it is: The government gladly invests taxpayer dollars into student grants and loans. This is what has been driving the increase in college tuition bringing it above and beyond the average student and family. For teenagers the propaganda is so potent that high school students in many cases have blind optimism that they will land their dream career after college and have the income to easily pay off any loan balances occurred along the way. Some graduates are left with over 100,000 in debt and can barely find any job, let alone the one they pictured themselves getting into four years ago. Were not suggesting that a college education isntworthwhile. But at current tuition costs those who lackpractical skills for todays economy once they get out of schoolwill be left indebted, impoverished and living in moms basement for the majority of their working lives. Thats hard to believe for many future students of higher education but the fact is that nearly 85% of college graduates will return home jobless: Saddled with debts that will take years to pay off, college graduates are finding it almost impossible to acquire any sort of meaningful labor in this much touted jobless recovery. [] Though estimates vary, a recent study by Twentysomething Inc., a consulting firm specializing in marketing to young adults, predicted thatof the 2 million graduates in the class of 2011, 85 percent will return home because they cant secure jobs that might give them more choices and more control over their lives. Millions upon millions of dreams will be crushed by the propaganda being spewed by high school counselors, universitymarketing departmentsand the federal government. Think carefully before committing yourself to tens of thousands of dollars in student loans just so you can hang out and party, because partying is the last thing youll be doing for the 20 years that follow your graduation ceremony. You can read more from Mac Slavo at his site SHTFplan.com, where this first appeared. wow you seem so touchy getting a little emotional are you ??? looks to me like you are projecting , since you continue to argue with a compete stranger , but hey this convo is better then a soap opera lol love at last , only way to disarm a person with win lose mentality , well done China now robot driven! Chinese are the masters of industrial and manufacturing capable robots. Robots do not consume! Trade with a robot driven China is toxic relative to American trade? Worse still, they expect more when they graduate and America simply does not provide it. Big changes coming were predicted in Vance Packards The Waste Makers We still do not listen. Small House Society a recent phenomenon, we all drive much smaller, Asian cars, and even electric transportation is on the horizon folks. The mid 20th century Golden age fueled by the Cheap Oil era is having a rough landing now in the mid 21st century. Only China has made appropriate conversions to renewables and now are developing advanced waste free nuclear systems. America remains stuck on Oil. Welcome to Capitalism and the crappy American Education System . . . running scared is an easy out . . . 