Warren Bills the Fed

Senator Elizabeth Warren has drafted a bill to force the Federal Reserve Bank to issue low interest loans to students. Webster Tarpley is urging people to get their representatives to support this bill. It is not the 1% sales tax on Wall Street transactions that Tarpley has been calling for but it is a step in the right direction.

At least the money will be vectored at the real economy and not into the financial services labyrinth.

tarpley.net...

Washington DC, May 8, 2013 — I urge a major all points mobilization in support of Sen Elizabeth Warren’s Bank on Students bill mandating that the Federal Reserve provide 0.75% cheap federal credit for federal student loans (Stafford loans) via the US Department of Education. This is so far as we know the first bill which proposes to force the Fed to provide cheap credit to something other than banks and financial institutions.

reply to post by ipsedixit


I really like Tarpley and respect his view, however is this not putting the cart before the horse???

How is education going to mean anything if the only lucrative jobs available will be politicians or corporate figureheads?

Lawyers are a dime a dozen already! Doctors????? Well we can expect to see them disappear at an alarming rate as the affordable health care act goes into full play.........

I will say it should NEVER be a bad thing to learn and educate oneself, however, I think we need to get rid of a whole lot of corrupt politicians whom decided it was more beneficial for them to work for the Corporation of The United States of America, instead of working for the citizens whom elected them!

Education is definitely needed! BUT, when will the puppets in DC do something to create jobs in the country they represent, versus sucking the teet of corporations whom are moving their companies into nations who use slave labor?

This will contribute to jobs in the education sector if nowhere else. There is an economic benefit here. Plus having more educated people in the unemployment lines may move us further along toward the 1% Wall Street sales tax, in terms of educated agitation and activism. I see the glass as "half full" on this one.

America needs a second "New Deal". It is obvious from looking at the way wealth is distributed in the country. Even up here in Canada there is growing criticism of the government's austerity line.

A certain class in the United States decided some time ago to ship American industry and the jobs that went with it, overseas. People know this. It has been sold as beneficial to the people of the United States but now it is pretty clear that it has created near catastrophic conditions on the home front.

America may be "owned and operated" by the oners but the squatters outnumber them 99 to 1 and they are getting restless. Mr. President, give America a 1% Wall Street sales tax.

reply to post by ipsedixit

This will contribute to jobs in the education sector if nowhere else. There is an economic benefit here. Plus having more educated people in the unemployment lines may move us further along toward the 1% Wall Street sales tax, in terms of educated agitation and activism. I see the glass as "half full" on this one.

America needs a second "New Deal". It is obvious from looking at the way wealth is distributed in the country. Even up here in Canada there is growing criticism of the government's austerity line.

Who is distributing the wealth? Is this thread about education or socialism?

Originally posted by seeker1963
Who is distributing the wealth? Is this thread about education or socialism?

Nobody is distributing the wealth in America.

The top one percent of the country are largely distributing it overseas or playing games with it on the stock market. They have "financialized" America's economy. They don't need workers in America and they don't need to produce anything in America. Overseas does all of that cheaper.

They don't need social services in America. Get rid of food stamps. That's socialism. Let people riot in the streets. The "reign of terror" will never happen in America because the oligarchs are paying a great military to protect them. If the squatters get uppity, the army will shoot them down in the streets the way it was done before the Russian Revolution.

Nobody's talking about socialism here. People can work at MacDonald's. The real work of making things and creating value can be done in Chinese prisons, or in India or in Indonesia.

Ya see, an economy is not like a garden that you have to fertilize with investment. The oners know this. The way you handle an economy is to suck the life out of it and never give anything back, like in America.

This isn't going to help anything. Instead of having a $40,000 student loan with crushing interest that cannot be paid back because the graduate can't find work and cannot be charged off in bankruptcy, the graduate will have a $40,000 student loan with a meager interest that cannot be paid back because the graduate can't find work and cannot be charged off in bankruptcy.

We need to overhaul the way higher education is handed out by higher level institutions. Help transfer students out by accepting more, credits from another college instead of forcing them to retake calculus every time they transfer schools. Remove many of the gen ed credits from different majors; for example, as a computer science major, I really don't need to take psychology or philosophy. Stop letting book companies charge an arm and a leg for a textbook that can get for a few bucks in another country (and then change a few questions in the review part of the chapters and release a new edition just to force kids to pay full price for the book). Give realistic counseling for the major you've signed up for so that a student can have an idea how useful the major they picked will be in the real world; in other words, a major in philosophy without pursuing post-graduate studies equals a career in the food service industry.

These are just a few of the changes that colleges could implement that could seriously reduce the costs of tuition for students and help them better prepare for the real world when they graduate. This isn't even touching on the problems of the student loan problem (like purposely overlending money to the students knowing that they aren't going to turn around and repay that money to their loan and instead spend it on junk).

Originally posted by Krazysh0t
This isn't going to help anything. Instead of having a $40,000 student loan with crushing interest that cannot be paid back because the graduate can't find work and cannot be charged off in bankruptcy, the graduate will have a $40,000 student loan with a meager interest that cannot be paid back because the graduate can't find work and cannot be charged off in bankruptcy.

Speak for yourself. Low interest money is obviously the best option of the two. Graduates who can't find work have a problem, granted, but non-graduates who can't find work are in a worse mess. Finding work, creating work, moving to find or create work are things that human beings have done forever. Life's tough.

Remove many of the gen ed credits from different majors; for example, as a computer science major, I really don't need to take psychology or philosophy.

I think some of your ideas on education are good but if anything we need more scientists and technologists with liberal arts credits. I think society suffers from science specialists who feel free to eschew responsibility for a broader understanding of human problems.

This isn't even touching on the problems of the student loan problem (like purposely overlending money to the students knowing that they aren't going to turn around and repay that money to their loan and instead spend it on junk).

Financial planning is important. If I were a student in danger of being "overloaned" at .75% interest, I would say, "Bring it on!", and use that low interest money to invest in other things. Low interest money is cheap money. Cheap money for the ordinary person, as opposed to a partner bank, is a great opportunity. How people use the opportunity is up to them.

This is how you get inflation on the street fast.

As it is now, the Federal Reserve prints money for the banks and they pass it between other banks and it never hits the street to make inflation. With this bill, printed money will hit the streets. Not good!