Student Loans and Economic Prosperity

The student debt crises has made the news and the editorial section of the Washington Post. Absent from the discussion so-far is the effect of student debt on the economy. Both Obama and Romney want to stimulate the economy to reduce unemployment. Yet, at the same time they are promoting the use of low interest government guaranteed loans to encourage people to attend college. Getting a higher degree is very desirable, but the students are graduating with a massive debt burden. What this means is that, instead of consuming they are working to pay-down debt. This is a drag on the economy.

Tom Toles of the Washington Post

Besides the economic drag of paying down debt, the sad economic reality is that low interest government guaranteed loans, actually increase tuition and make college less affordable.  The coming student loan boondoggle will be very similar to the housing bubble and fraudulent Green Energy programs (Solyndra) and will someday burst. Similar to the housing bubble, cheap easy to obtain loans are ripe for fraud. Obama just recently addressed the issues of diploma mills.  Disingenuously, Obama, by promoting cheap easy to obtain loans, is actually promoting the growth of diploma mills. Want to slow increases in tuition and minimize the fraud of diploma mills, end all government guaranteed loan programs.

Romney’s: “A Better America Begins Tonight”

Romney gave an excellent speech tonight.  “A Better America Begins Tonight” One can only hope that Romney is not imitating Obama's rhetorical game of distraction and deception. This speech was unusually positive, Romney stated: "Tonight is the beginning of the end of the disappointments of the Obama years and the start of a new and better chapter that we will write together". But in prior speeches Romney has called for a stronger military and a "surge" in the "war" to protect so-called "intellectual property". This has left me with the impression that Romney is just another "big" government politician claiming to be just the opposite.

In this speech Romney, like Sanatorium's speech prior to Sanatorium's withdrawal, seems to have usurped Ron Paul's message of liberty. Romney stated: "I have a very different vision for America, and of our future. It is an America driven by freedom, where free people, pursuing happiness in their own unique ways, create free enterprises that employ more and more Americans."

Mr. Romney asks: "I want to hear what’s on your mind, hear about your concerns, and learn about your families. I want to know what you think we can do to make this country better…and what you expect from your next President."

Mr. Romney, I hope that your staff, when trolling the web finds this blog. Bluntly, restore liberty by repealing many of the laws that are taking away our liberties, such as the Patriot Act. Restore copyright and patent law to what was originally envisioned. As a business professional, I would hope that you realize that copyright and patent laws are now obstructing business, stifling innovation and discouraging entrepreneurship. You have made assertions that China is "stealing" US so-called "intellectual property", but China owns much of the US debt so they can simply buy that technology while US companies squabble in court over who owns what, instead of innovating.

Mr. Romney, if you mean what you imply in this message, unwind the laws that have reduced civil liberties in the name of "national security" and the protection of so-called "intellectual property." You say that America's future is driven by freedom. I hope that you are not mimicking Obama's razzle dazzle techniques of rhetorical manipulation.

Obama's Failed Budget Proposal

Back in February, Obama released his proposed budget.  The Washington Post, as well as other media dutifully reported on this proposed budget. Ezra Klein prophetically wrote "Like the 2012 budget, it has no chance of being adopted by Congress. The big ideas in it are DOA in the House." Fox News reported on March 28, 2012 that "House easily rejects Obama budget in tactical vote" by a vote of 414-0.

What is of concern is that the media has apparently not delved into this "defeat" and has simply gone on to the new sound byte of lambasting Paul Ryan's proposed budget, which will be DOA when presented to the Senate. But this post is not about Ryan's proposed budget, it is about the fact that not one member of the House or Representatives bothered to vote for Obama's budget; even as a meaningless gratuitous gesture. Come-on now - not one vote?

My CasualObservation is that the "failed" budget proposal was never meant to be implemented, it was simply tossed-out to barely meet the constitutional requirement for a budget proposal. As such this implies that Obama does not take leadership seriously. Other highly visible examples of politics over the national interest include Solyndra, temporarily stopping the Keystone Pipeline and then claiming to "fast tract" another segment in Oklahoma as a grand empty gesture, and finally the whole divisive debate over the Patient Protection and Affordable Care Act. (Better known as Obamacare.) Words are cheap, rhetoric can be lofty, but leadership demands performance. We, as a Nation, are being sold snake oil. There is no leadership. It is all about promoting corrupt partisan politics. "Bread and Circuses".

Eve of Destruction

Time to resurrect the 1967 protest song "Eve of Destruction"  by Barry McGuire. "The eastern world it is explodin', violence flarin', bullets loadin', you're old enough to kill but not for votin', you don't believe in war, what's that gun you're totin', and even the Jordan river has bodies floatin', but you tell me over and over and over again my friend, ah, you don't believe we're on the eve of destruction." Once again the news coming out of the Middle East is not good.

McCain wants to initiate airstrikes in Syria. Obama initiated airstrikes in Libya, sent troops to Uganda, does not want to support Israel, and Afghanistan is not going that well. Romney wants the US be the strongest military nation in the world and initiate aggressive action against China. To fight this or that "war",  I foresee a continued diminution of our civil liberties which brings to mind the 1967 protest song For What It's Worth by the Buffalo Springfield. Lyrics here. "You step out of line, the man come and take you away."  Time to crank-up singing the old protest songs!

Update (3/6/2012): Since I posted, the Washington Post ran "AIPAC beats the drums of war" by Dan Milbank.  Others commenting on that article suggested two additional songs. "Monster" by Steppenwolf and "Masters of War" by Bob Dylan.  Smokey provided me with the inspiration to post the two videos below.

Piracy is the Creation of the Content Industy II

The content industry tirelessly whines how piracy is costing them business, but they never seem reflect on their own deceptive business practices to essentially steal from the consumer.  On this issue Marcus Crab wrote: "... the biggest driver of piracy is a lack of legitimate offerings." in his post post: "How To Turn A Legitimate Buyer Into A Pirate In Five Easy Steps".

If companies that sell content wish to complain about piracy, then they need to demonstrate some honesty and integrity on their part.  First, no misleading ads. Second, the ability of the consumer to return content that does not meet their needs. Through their blatant disregard of the consumer, it is the content industry that is promoting piracy.