A couple of articles caught my attention with my morning cup of Joe.
There is only one job for every three unemployed Americans, and MBA college grads are soaking in food stamps at an ever increasing rate: Right now,
both art school students and MBAs alike are being crushed by student debt. Deeply indebted doctorate recipients are seeking food stamps in increasing
numbers. Roughly 284,000 college graduates are making minimum wage.
But here's the news that should make socialists happy, but won't make them happy: Uncle Sam is profiting off of student loans to the tune of a
hundred billion bucks over the past five years: How does that work out? Simple. The government's funding costs, measured in the yield on 10-year
U.S. Treasurys, has averaged less than 2% since the summer of 2011, thanks in no small part to the Federal Reserve's attempts to stimulate the
This news does NOT come to you from the conservative media. Good old Huffington Post is letting the cat out of the bag:
How Uncle Sam made $100 billion on student debt
The government has been borrowing money on the cheap and lending it out at a premium, reaping huge profits.
The Huffington Post reported Wednesday that the combination of low borrowing costs for the government and fixed interest rates for students generated
$101.8 billion in profit for the Education Department over the last five years.
But there is really good news on the capitalist horizon. The George Bush library has raised half a billion bucks in donations.
Bush raises more than $500 million for presidential library
"The milestone makes Bush, who left office four years ago, the most successful fundraiser among former presidents at this stage in his post-White
House life," the report further noted.
According to these two articles alone, capitalism is far outpacing socialism in the profit columns. The Gubbmint made a hundred billion dollar profit.
George Bush pulled in half a billion.
I raise my morning cup of Joe in a toast to capitalism stomping the beejezzus out of socialism.