6 figure education debt NZ version

Each generation starts with less that the one before, this now means starting with negative wealth.

Each generation starts with less that the one before, this now means starting with negative wealth.

Recently we have had debates about education funding and regulation. So it would be a worth considering the woeful path New Zealand took with its education funding model about 23 years ago.

The New Zealand loan scheme, the rapacious debt monster that for the first 20 years of its life was unbankrupt-able. Starting out at 7% plus CPI interest rates being charged daily culminating in monthly 2% penalties for non payment, this political football generated billions of dollars of debt placed squarely on the shoulders of the youngest and least able to pay. How did people deal with this in a country with shallow employment markets, low wages and few opportunities. One option was emigration and a significant number who did so simply left the debt behind. Australia with its strict privacy laws vast landscape became an attractive hideout for those who sought to escape the debt slavery of the student loans scheme. Australia is home to approximately 7500 long term non payers owing about 450 million dollars of this debt.  Worst of all was the continuous tinkering with the terms and conditions of this debt making it difficult to understand what was actually required. This confusion was exacerbated by the IRD deliberately providing misinformation to confuse and deceive borrowers in paying more that they were legally required to. The IRD is a powerful government agency in New Zealand and has on occasion enacted legislation taking force retroactively, one of the more infamous cases was the first student loan bankruptcy in the mid 1990’s where the borrower had filed for bankruptcy and been discharged after several years only to then be told the loan could not be bankrupted and the debt still stood. For almost 20 years the loans could not be bankrupted. Recent developments with contacting historical borrower appear to be a form of gaming borrowers and simply waiting until they have enough assets to chase despite ignoring them for many years. The statue of limitations on debt  ( typically 7 years) does not apply to these loans either.

Recent changes to information sharing between the ATO and  IRD ( NZ ‘s tax office) announced by Tony Abbott means that the ATO will be giving information to New Zealand regarding borrowers that are sought for payments. The Australian based hold outs have been getting some very large bills lately.

http://www.scoop.co.nz/stories/PA1502/S00379/information-sharing-on-student-loans-welcomed.htm

Recently however the NZ government relented and accepted that a NZ student loan was in fact bankrupt-able, this of course leads to the inevitable new wave of bankruptcies where the largest  (and often only debt cited) was the NZ Student loan. So here we have Kristina Andersen, New Zealand based bankruptcy specialist explaining the situation in an interview with radio New Zealand.

http://www.radionz.co.nz/national/programmes/sunday/audio/20175273/kristina-andersen-student-loans

But the New Zealand government has changed it’s mind before (retrospectively) to re-shackle a bankrupt with their student loan debt all over again.  I’m sure many of the long term defaulters are watching this situation carefully so see if it a real remedy or whether it is just more ‘bait and switch’ policy in the student loan shell game. I guess that’s the reason why they called it the student loan scheme.

Scheme ( definition)

2; an underhand plot; intrigue.

3; a visionary or impractical project.

Yes the student loan scheme certainly turned out to be underhanded and completely impractical for borrowers.

 

The amusing fact is this, NZ student loan borrowers are actually advised to consider declaring bankruptcy right after graduation.

nz student loan IRD parody

http://www.studentloan.org.nz/planning.html

So that is the possible legacy of a completely deregulated education system with loans and debt as fuel for a massive debt and bankruptcy bomb the explode in the future.

Eventually one would hope the business model of putting students in to enormous debt with the intention of farming them over a lifetime will come to an end with the simple inability to pay converged with the fact that information is now almost completely free via the internet. The voucher of a university degree will simply lose its luster as a guarantee of a better middle class life. There is of course the real competition, open source, free market online style education.

It’s seems an anachronism that people would opt for 6 figure debt for information they could get for free. Perhaps the university degree will become a thing of the past, and future people will educate them selves in a lifelong process of continuous learning.

Baltimore race baiting

Just look at the complete lack of logic:

 

 

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I’M SO MAD AT THE POLICE, …

occupymelbournenet:

Makes perfect sense.

Originally posted on tomfernandez28's Blog:

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BALTIMORE POLICE MUGSHOTS RELEASED; CONFUSE THE HECK OUT OF RACE-BAITERS

occupymelbournenet:

Hard to call them racist, against their own race, which is only a social construct…. The leftist logic melts faster than a clock on a Salvador Dali painting.

Originally posted on tomfernandez28's Blog:

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That half of the officers are black appears to dispel the notion that the death of Gray was racially motivated, but the debate raged on social media

byBIZPAC REVIEW | MICHAEL DORSTEWITZ | MAY 2, 2015

On Friday night, the Baltimore police Department released the mugshots of the six police officers charged in the homicide of Freddie Gray

The officers, who have all been released on bond, were previously identified as Lt. Brian Rice, Officer Garrett Miller, Sgt. Alicia White, Officer William Porter, Officer Edward Nero, and Officer Caesar Goodson.

That half of the officers are black appears to dispel the notion that the death of Gray was racially motivated, but the debate raged on social media:

Syndicated columnist and Breitbart News editor-at-large Ben Shapiro tweeted:

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But the left wasn’t ready to let the “racist” label loose. Joan Walsh, editor for the far-left Salon, tweeted:

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New UAH Lower Troposphere Temperature Data Show No Global Warming for More Than 18 Years

occupymelbournenet:

Still no global warming.

Originally posted on Watts Up With That?:

Guest Post by Bob Tisdale

Dr. Roy Spencer introduced the updated and much corrected UAH atmospheric temperature data in his blog post Version 6.0 of the UAH Temperature Dataset Released: New LT Trend = +0.11 C/decade.  The new temperature anomaly data for the lower troposphere, mid troposphere and lower stratosphere are presently in beta form for comment. That is, they’re not official…yet.  I suspect the update will not go over well with the catastrophic-anthropogenic-global-warming crowd.  Links to the version 6.0 beta data are at the bottom of Roy’s post, which also contains a detailed discussion of the updates.  So if you have questions, please ask them at Roy Spencer’s blog through the above link.  This post is a simple data presentation.

The version 6.0 beta temperature anomaly data for the lower troposphere used in this post are here.

In this post, we’ll take a quick look at the…

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The Media and Jihad

occupymelbournenet:

The same pattern every time, In the US and here in Australia. Media is complicit.

Originally posted on The Counter Jihad Report:

Published on Apr 26, 2015 by Political Islam

Every time that there is a major jihad attack, the media responds in the same way. There is now a routine that the authorities tell us:
Islam is the religion of peace

***

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Muslim driver tries to run down cops at Minneapolis Airport by Pamela Geller

The horror — and the media continues to whitewash these vicious savage acts. The Islamic State has called for Muslims in the U.S. to use their car to attack non-Muslims, especially military personnel and police. But “Stanek said they believe the incident was isolated and does not appear to have any ties to homeland security.” The politically correct fools continue in their denial.

“Suspect Injured Following Officer-Involved Shooting At MSP,” by Susan-Elizabeth Littlefield, CBS Minnesota, April 26, 2015:

MINNEAPOLIS (WCCO) — One man was hospitalized Saturday night after an officer-involved shooting at the Minneapolis-St. Paul…

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ONE OF THESE IS A RIOTER FROM BALTIMORE

Originally posted on tomfernandez28's Blog:

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Flowchart of civilization destruction

red pill header1

Redpill body1

You really need to see this on a really big screen.

 The word “dysgenic” was first used, as an adjective, about 1915, by  David Starr Jordan, describing the dysgenic effect of World war I. Jordan believed that healthy men were as likely to die in modern warfare as anyone else, and that war killed only the physically healthy men of the populace whilst preserving the disabled at home. Stolen straight from Wikipedia.

In essence war weakens a society immediately and for generations to come.

 

So an entirely plausible chart showing causes and effects of various social institutions and political themes leading to a feedback loop between banks and those pushing progressive (politically correct) culture.  Was this actually planned this way of was it an accidental consequence of different groups lust for power at all costs?  Either way it is a very interesting analysis of some very big issues. There is the further prong to the assault of attacking logical reasoning also, to prevent people from comprehending what is actually going on.

 

One can almost image it as a power point presentation being displayed somewhere quite vile.

Monsanto Employee Admits an Entire Department Exists to “Discredit” Scientists

occupymelbournenet:

Sadly not surprising, but nice to have some evidence.

Originally posted on wchildblog:

Source: Natural Society, by Christina Sarich

Dare to publish a scientific study against Big Biotech, and Monsanto will defame and discredit you. For the first time, a Monsanto employee admits that there is an entire department within the corporation with the simple task of ‘discrediting’ and ‘debunking’ scientists who speak out against GMOs.

The WHO recently classified glyphosate, a chemical in Monsanto’s best-selling herbicide Roundup, as carcinogenic – news that is really heating things up with biotech. So Monsanto has been demanding that the World Health Organization (WHO) and the International Agency for Research on Cancer (IARC) retract their statements about the poisons’s toxicity to human health.

The company demands this even though a peer-reviewed study published in March of 2015 in the respected journal, The Lancet Oncology, conducted a analysis proving that glyphosate was indeed ‘probably carcinogenic.’

Monsanto’s vice president of global regulatory affairs Philip…

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Tony Abbott resigns

I quit!

I quit!

In a surprise move the beleaguered Prime minister of Australia announced his resignation today.

Tony Abbott released this  statement to the press :

Its become clear to me my popularity is the lowest of any prime minister in Australian history. Modern democracy is really a fancy a popularity contest, and without the Murdoch press constantly spruiking and spinning every move I make, my position and lobbyist for various corporations and private interests is untenable. I have feathered my nest quite well in this time is politics but the game is up. It’s time to hand the mask to a new monster currently more palatable to the mindless masses we call the Australian public. I wish the next soulless opportunist to take on the captaincy all the best, as captain of this now sinking ship.

 

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