Good Morning Jim,

I hope things are well with you and you are recovering from your successful trip. At the moment I am watching Greenspan this AM on America’s Ponzi scheme TV. I am absolutely STUNNED at his verbiage and his outlook. He acts as if he never saw any of this coming and literally pointed a finger at the EU for their bad management of debt. Talk about wagging the dog. Your assessment of Volcker, Greenspan and Bernanke are spot on. He will defend his position as to not lose face for historians.

The commentator are smiling and almost in AWE when he talks. That just goes to show how ignorant we truly are. It is a classic example of the frog in the boiling pot. Boy o boy if we frogs are put in water and have the heat SLOWLY turned up, we don’t even realize we are being cooked alive.

Thank you for the support and FREE knowledge you have so generously guided us on.

GOT GOLD?

CIGA Craig

Hi Jim,

Student loan debt is now in excess of $913 Billion and the default rate is rising every year.

Graduating seniors owe thousands in student loans and most of them can’t find jobs. The burden is falling on their parents.

I hate to think where these kids will be 20 years from now.

Cheers,
CIGA Black Swan

8% of Florida students default on school loans
Many graduates carrying debt can’t find jobs
May 30, 2011|By Scott Travis, Sun Sentinel

Forget term papers and roommate conflicts. For many students, the biggest college stress comes after they leave school.

Six months after graduation, those first student loan bills start arriving and for a Florida student in 2009, the average amount owed was about $21,000, according to the California-based Institute for College Access & Success. In this market, many graduates are unable to get the high-paying jobs needed to pay that debt.

Student loan debt nationwide now tops $913 billion and surpassed credit card debt for the first time last year, a study from college financial aid website FinAid has found. The situation is so tough that 85 percent of college graduates expect to live with their parents, said consultant Twentysomethings Inc.

More… ^[1]

Despairing College Graduates Hope For Jobs, Not A Better Future
First Posted: 06/ 2/11 01:48 PM ET

NEW YORK — Economic timing and the vagaries of the job market overshadow Caroline Cutter and Brad Miller’s relationship.

Cutter, 28, graduated last year from Montclair State University in New Jersey with a degree in art education and struggles to manage more than $50,000 of student loan debt. Contending with the fallout of one of the worst financial downturns in generations, she has yet to find a full-time job.

Miller, 27, graduated in 2006 from the Stevens Institute of Technology in New Jersey, two years before the crisis erupted. He works as a civil engineer. He makes about $65,000 a year.

More… ^[2]