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Stephanie Ritter, a 26-year-old Florida State University alum, has listed her diploma on eBay for the staggering sum to cover the 'actual cost' of attending the school. 

Now $40,000 in debt and living in Southern California, Stephanie is fed up with being unable to find a job in her field, despite having a Bachelor's degree - so she's come up with a drastic solution to pay off her loans and 'validate my use of time between 2007-2011'. 

She took $40,000 in debt to study.... theater.

Seriously.  Theater.

What did she think she was going to do with that degree that was worth the money?

This, in the end, is the problem -- universities and other "higher educational" institutions, including High Schools for that matter, that push people to get a degree -- any degree.  What's missing from that discussion is any sort of honest examination of the degree itself and what it does for your earnings potential.

An utterly huge percentage of "degrees" today are worth exactly zero.  Most humanities degrees are in this realm; "sociology", "woman's studies", "african-american studies" and similar "fields" are simply worth zero.

So where did she get this idea from?  Let me guess: Her parents and/or High School?

Here's my suggestion: If you encourage someone -- or fail to warn them, having a position of authority (such as a parent, high school counselor or similar) in regard to such a person who is not yet an adult to go chase such a "dream" while going into debt, you should be forced to cover it with your retirement funds so you get to go live in a refrigerator box under a freeway overpass.

And if you don't have it?  Then said student should eat you.

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2015-08-30 06:00 by Karl Denninger
in Federal Reserve , 296 references


Clearly, the Fed has essentially achieved its employment objective, but it is somewhat below its self-selected objective of 2% inflation. Congress clearly specified the inflation goal for the Fed by calling for “price stability.” Since 2012, the Fed has redefined this congressionally mandated goal of no or zero inflation as being represented by 2% inflation of the Consumer Expenditure Survey. In fact, 2% inflation will double the price level every 35 years. This hardly represents price stability.


Robert Heller

Belvedere, Calif.

Mr. Heller is a former governor of the Federal Reserve System

Mr. Heller was nominated by Ronald Reagan in 1986 and confirmed unanimously.

Note that he has called out exactly the same point I have since I started writing this column -- that the actions of The Fed have been unlawful.  

More to the point said unlawful behavior has been policy and worse, it has been essentially continual since The Fed was formed.

To those who say that this points to The Fed as an "evil" institution may I point out that no law means anything if there is nobody who will enforce it.

There are 535 jackasses currently infesting Washington DC that are quite capable of enforcing their own law.  They can do so as they have absolute control over the authority of said Fed, can revoke its charter at any time and further can de-fund it any time they'd like.  They can also add an "or else" (in other words, criminal sanction for violations) to the Federal Reserve Act and then refer the entire Board of Governors to the FBI for arrest and prosecution.

The problem does not lie in The Fed.

It lies in Congress, and since we directly vote for those who are in Congress, and we continue to sit for the rank and outrageous theft that takes place through the acts of this body, with the full consent of Congress, the fault is ours.

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The director of community relations for UW-Madison has declared, effectively, that you may go rob his house with impunity.

“I just don’t think that they should be prosecuting cases … for people who steal from Wal-Mart. I just don’t think that, right?” said UW-Madison director of community relations Everett Mitchell. “I don’t think [with] Target or all them other places, them big box stores that have insurance, they should be using justification, the fact that people steal from there as justification to start engaging in aggressive police practices, right?”

I'm sure Everett has insurance on his home and vehicle(s), so in the event you're inclined to steal I'm sure he won't mind if you rip him off -- and by his own standards he cannot file a police report or prosecute if you do.

That's a purdy car you have there, Everett.......

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