Wednesday, March 30, 2011

Formula for Slavery in the US

Imagine having fought a war for independence against a foreign power, then another war in which slavery ended up being abolished, coming out of that war and fighting for Civil Rights, only to end up with a return of the slavery institution.  It isn't far fetched and I have a devious formula for how slavery is starting to return in the US.   First, let me define slave from wikipedia.
Slavery is a system under which people are treated as property and are forced to work. Slaves can be held against their will from the time of their capture, purchase or birth, and deprived of the right to leave, to refuse to work, or to demand compensation. In some historical situations it has been legal for owners to kill slaves.
The number of slaves today remains as high as 12 million to 27 million, though this is probably the smallest proportion of the world's population in history. Most are debt slaves, largely in South Asia, who are under debt bondage incurred by lenders, sometimes even for generations.
The  key in the emergence of slavery in the United states is the idea of "debt slaves".  Anyone that has ever read this blog knows how much I detest debt, but I'm not referring to credit card debt or car debt or house debt.  Instead, I'm talking about the worst kind of debt you can have, debt to the government.  If you have ever owed money to the government, you know just how harsh and swift the government can be in collecting "their" money.  Citibank, while powerful, cannot swoop into your home and arrest you and have all of your assets seized.  Citibank does not have its own court system in which you must prove your innocence.  
Am I referring to tax debt?  Not at all.  What I'm referring to is some of the first debt many people take on, student loans.  Here is the formula.  The government with the help of the media has put out for decades the idea that a person can achieve nothing in life without a college degree.  Forget trade schools and apprenticeships or entrepreneurship.  To the left, these hold no value.  Primary and secondary education shifted from preparing children with the knowledge needed for life skills to the knowledge needed to pass a college entrance exam.  You are a captive audience for 12 years as you are told over and over again that the end result of everything is to go to college.  College has its purpose, but it is not and should not be for everyone.   For example, 50% of all millionaires have no college degree. Then consider the high drop-out rate for college students.  This statistic is very important in proving my case.  You see, graduation rates are not important, neither is the quality of education.  The main goal for the colleges is to make money, nothing wrong with that, but that money comes from kids that have no money and must incur debt to pay the college.  Another important statistic is the tremendous increase in the cost of attending college, which is far beyond the rate of inflation.  College is not a natural resource with a limited supply.  College is as it is, and it stands to reason that the rate of increase for college tuition should never exceed the CPI.   
So now we have generations of students that spend most of their working life paying off this debt.  Some even incur more debt by going back to school to delay having to pay the debt they already have.   How does such a financial system make sense?  When you understand that the goal is create millions of debt slaves, it makes perfect sense.  But the final piece fell in place with the passing of Obamacare.  Inside of that legislation was the government takeover of student loans from private banks, done to “protect” the students.   The actual result of this takeover is the indebtedness of millions of people to the federal government, which has the power of police and enforcement.  Oh, the benevolent government will forgive your debt so long as you provide a government service for a certain number of years.  Doesn’t this sound like indentured servitude or slavery?   The government spent 80 years getting 1 half of the population to be in debt to the government through government programs like welfare.  Now they are taking over the other half, formerly known as the producers, through debt slavery.  In 10 to 20 years, it will not be unrealistic for 90% of the population to be enslaved to the government through service or debt.  When will we lose America?  I say America has been lost already. 


Kansas Bob said...

"the goal is create millions of debt slaves"

Doubt that anyone has that goal. Most govt programs (like student loans) started with good intentions/goals but morphed out of control by govt bureaucracies. IMO it is more about the law of unintended consequences than somebody's evil scheme to enslave Americans.

Now if we are talking about the finance industry I would probably agree that these folks have evil agendas in this area.. especially credit card companies and the like.

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