www.theguardian.com
The final inflection point was likely 2000 with the granting of permanent most favored nation status to China. And you're right about it being Clinton, as in 1992 Clinton suspended specific human rights requirements for China to maintain trade with the US. Before 1991 China accounted for only 1% of imports to the US. The only opposition to this normalization came from a smattering of bipartisan Union backed Dems, old Cold Warriors, and Social Conservatives, none of whom could get enough backing to really stop it.
I'd forgotten about this bit...man, pretty much 1st thing he did was aim at killing US production
Except all the banks that made these loans understood that they would be covered...which is just a dumb way to really run a business b/c then the risk calculation gets ignored. This leads to bad things down the road for many parties.
These colleges could also offer students part-time jobs in university departments, etc.,
I disagree such a mentality is satanistic. Historically western civilizations have either forgiven all debts on jubilee for example, or they considered loans with interest to be inherently exploitative and forbidden them.
Are you saying that 'my word is my bond' is satanistic?
This was how it used to work...until govt. decided some things were 'too big to fail'. Which is where American contract law went off the rails.
They do offer part-time jobs, but like every other job a student can possibly get, there is no hope of them actually being able to pay off those loans. You apparently don't realize how ridiculously expensive school has become these days. And it's not even just the tuition and fees, but housing, because a lot of schools will force at least the freshmen to live in the dorms, and a lot of students (like myself) prefer to live on campus so we can get to classes in a reasonable time on foot, and the school will charge thousands of dollars for that which is due all at once at the start of the semester. All told it cost me something like $10k a semester to go to school when I first started in 2001, and it went up a bit every year. It's definitely a lot higher now. A lot of times if a student has a job, all they can really hope to pay for is their more immediate bills, like rent and groceries.
www.forbes.com
No but excess legalism and fetishization of contracts or "deals" is.
Yes, so why can't we have the government decide "Having the majority of the youth be debt slaves is too big of a problem." why do conservatives always seek to protect interests of big companies? Like if conservatives were at least willing to be fair towards BOTH sides and let bankruptcy discharge student debt, that's one thing. But Western conservatives just want the status quo, or at best the status quo of 10 or 20 years.
They did? The Fiscal Conservatives ranted and RAVED against the government bailouts and pushed back whereever and whenever they could on the matter. That was the original motive behind the Tea Party movement after all.
Umm looking it over the Tea Party was not raging against government bailout of big bussiness.
Yeah, but then when they're in power, somehow they never take advantage of it and the subject is quietly dropped... until they're out of power and can safely rant and rave about it again while knowing they won't have to actually follow through because they don't have the votes.
