How Higher Education has become a Racket

Dec 2013
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Beware of watermelons
Student loan lenders are skimming tens of billions in profits guaranteed by the taxpayers.

“Legal” rackets have two essential components: a public-relations “cover” that obscures the racket and the mechanism that extracts the wealth from the “marks.” The Higher Education Racket qualifies on both counts:

1. The PR cover is “you all need a college diploma, and we’re here to make that happen.” Yea for more education!

2. The extraction mechanism is student loans. Here’s a chart that shows what happened relatively recently: your federal government began guaranteeing obscene profits to student-loan lenders and debt-serfdom for tens of millions of “marks” i.e. students.

https://www.lewrockwell.com/2017/05/charles-hugh-smith/higher-ed-became-rip-off/



We are allowing the state to make a generation of debt slaves before they can buy a beer or a handgun. Criminal.