A Quote by Noam Chomsky
Students who acquire large debts putting themselves through school are unlikely to think about changing society. When you trap people in a system of debt, they can't afford the time to think.
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Students who acquire large debts putting themselves through school are unlikely to think about changing society. When you trap people in a system of debt, they can't afford the time to think. Tuition fee increases are a disciplinary technique, and by the time students graduate, they are not only loaded with debt, but have also internalized the disciplinarian culture. This makes them efficient components of the consumer economy.
Debt is a trap, especially student debt, which is enormous, far larger than credit card debt. It’s a trap for the rest of your life because the laws are designed so that you can’t get out of it. If a business, say, gets in too much debt it can declare bankruptcy, but individuals can almost never be relieved of student debt through bankruptcy.
Debt is a trap, especially student debt, which is enormous, far larger than credit card debt. It's a trap for the rest of your life because the laws are designed so that you can't get out of it. If a business, say, gets in too much debt, it can declare bankruptcy, but individuals can almost never be relieved of student debt through bankruptcy.
Debt vultures are really the scum at the bottom of the pond. These are guys who buy up the debts of the world's poorest countries on the secondary market. You can go buy debts of a country like Peru, for example, at a real discount. Why? Because people think that the debts won't be repaid.
No one has done a study on this, as far as I can tell, but I think Facebook might be the first place where a large number of people have come out. We didn't create that - society was generally ready for that. I think this is just part of the general trend that we talked about, about society being more open, and I think that's good.
There are two definitions of deflation. Most people think of it simply as prices going down. But debt deflation is what happens when people have to spend more and more of their income to carry the debts that they've run up - to pay their mortgage debt, to pay the credit card debt, to pay student loans.
In fact, I think that our society expects schools to get students to the point where they do things only for outside rewards. People who perform tasks for their internal reasons are hard to control. Now, I don't think teachers get up in the morning and say to themselves, 'I', going to go to school today and take away all those young people's internal motivations' ...but that's exactly what often happens.
The banks' product is debt. They try to tell customers that "debts are good for you," but the customers can't afford any more debt, so there's no way the banks can continue their current business plan.
Education is huge for me. I went to public school until I turned thirteen, and was lucky enough to afford college once I became successful as an actress. I cannot believe that quality education costs as much as it does in this country. Ghetto Film School is a remarkable public high school in New York City where students get to learn to express themselves through filmmaking, and have hands-on access to equipment.
We can pay our debts to the past by putting the future in debt to ourselves.
You watch people run for president, and a large part of what they say, they don't ever follow through on. But I don't think you can afford to wait on this [trade agreements].
My message to students is that if you want to become an entrepreneur and save the world, definitely don't skip college. But go to a school that you can afford. You'll be freed from the chains of debt and succeed on your own ambition and merit.
Today in America, we are trying to prepare students for a high tech world of constant change, but we are doing so by putting them through a school system designed in the early 20th Century that has not seen substantial change in 30 years.
What I think is bugging this guy [Steven Lerner] is the belief that debt - forced debt upon middle-class people, students (i.e., student loans and so forth) - has made Wall Street bankers and financial people excessively, unfairly, out-of-proportionally rich.
I think we're so addicted to bubble finance at the Fed that they can't get out of the corner they painted themselves into. I think the Fed is making federal debt so cheap that Congress has no interest, Washington has no incentive to ever face up to our massive fiscal gap that is going to grow, and grow as we go forward in time and so we have a paralyzed system.
I think that popular culture takes a long time to catch up to what's actually happening in the world. Women have had to take care of themselves for quite a while. Actually, not had to take of themselves, but have wanted to take care of themselves, so I think it's a big transition that our country and our society has been going through a long time.
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