http://www.theglobeandmail.com/news/politics/ottawa-starting-to-tackle-rapidly-aging-workforce-with-renewed-urgency/article2127263/
“The oldest baby boomers start to turn 65 in 2011, meaning the dependency ratio will start to increase significantly in a matter of months,” states the draft report, which was obtained in redacted form by The Globe under Access to Information.
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Monte Solberg, who preceded Ms. Finley as Human Resources minister and retired from politics in October, 2008, said incentives for older workers were among the easiest options – politically speaking – available to the Conservatives in the face of an aging population.
Now, he says, the government will have to consider the hard ones, like raising the retirement age – a move so controversial he says it would likely require a Royal Commission to build public support.
Even more pressing are the upcoming negotiations on health-care transfers to the provinces, which currently grow at six per cent a year under the Canada Health Transfer Program that expires in fiscal 2013-14.
“It’s a very real problem,” said Mr. Solberg in an interview. “It’s easily the largest unfunded liability that we have, without question...
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D - the future is now. I have watched this topic be largely ignored for 2 decades.
Friday, August 12, 2011
Monday, August 8, 2011
chomsky on student debt
http://www.alternet.org/education/151921/chomsky%3A_public_education_under_massive_corporate_assault_%E2%80%94_what%27s_next/
"The era of affordable four-year public universities heavily subsidized by the state may be over."
Now that's one important way to implement the policy of indoctrination of the young. People who are in a debt trap have very few options. Now that is true of social control generally; that is also a regular feature of international policy — those of you who study the IMF and the World Bank and others are well aware. As the Mexico-California example illustrates, the reasons for conscious destruction of the greatest public education system in the world are not economic. Economist Doug Henwood points out that it would be quite easy to make higher education completely free. In the U.S., it accounts for less than 2 percent of gross domestic product. The personal share of about 1 percent of gross domestic product is a third of the income of the richest 10,000 households. That's the same as three months of Pentagon spending. It's less than four months of wasted administrative costs of the privatized healthcare system, which is an international scandal.
It's about twice the per capita cost of comparable countries, has some of the worst outcomes, and in fact it's the basis for the famous deficit. If the U.S. had the same kind of healthcare system as other industrial countries, not only would there be no deficit, but there would be a surplus. However, to introduce these facts into an electoral campaign would be suicidally insane, Henwood points out. Now he's correct. In a democracy where elections are essentially bought by concentrations of private capital, it doesn't matter what the public wants.
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Noam is the MAN!
"The era of affordable four-year public universities heavily subsidized by the state may be over."
Now that's one important way to implement the policy of indoctrination of the young. People who are in a debt trap have very few options. Now that is true of social control generally; that is also a regular feature of international policy — those of you who study the IMF and the World Bank and others are well aware. As the Mexico-California example illustrates, the reasons for conscious destruction of the greatest public education system in the world are not economic. Economist Doug Henwood points out that it would be quite easy to make higher education completely free. In the U.S., it accounts for less than 2 percent of gross domestic product. The personal share of about 1 percent of gross domestic product is a third of the income of the richest 10,000 households. That's the same as three months of Pentagon spending. It's less than four months of wasted administrative costs of the privatized healthcare system, which is an international scandal.
It's about twice the per capita cost of comparable countries, has some of the worst outcomes, and in fact it's the basis for the famous deficit. If the U.S. had the same kind of healthcare system as other industrial countries, not only would there be no deficit, but there would be a surplus. However, to introduce these facts into an electoral campaign would be suicidally insane, Henwood points out. Now he's correct. In a democracy where elections are essentially bought by concentrations of private capital, it doesn't matter what the public wants.
----
Noam is the MAN!
Wednesday, August 3, 2011
grad sells self to sugar daddy 2 pay loan
http://www.huffingtonpost.com/2011/07/29/seeking-arrangement-college-students_n_913373.html?ncid=dynaldushpmg00000042
A month prior, faced with about $15,000 in unpaid tuition and overdue bills, Taylor and her roommate typed "tuition," "debt," and "money for school" into Google. A website called SeekingArrangement.com popped up. Intrigued by the promise of what the site billed as a "college tuition sugar daddy," Taylor created a "sugar baby" profile and eventually connected with the man from Greenwich. ("Taylor" is the pseudonym she uses with men she meets online. Neither she nor any of the other women interviewed for this article permitted their real names be used.)
In her profile on the site, Taylor describes herself as "a full-time college student studying psychology and looking to meet someone to help pay the bills." Photos on the site show her in revealing outfits, a mane of caramel-colored hair framing her face. But unlike other dating sites, where a user might also list preferred hobbies or desired traits, Taylor instead indicates preferences for a "sugar daddy" and an "arrangement" in the range of $1,000 to $3,000 a month.
Saddled with piles of student debt and a job-scarce, lackluster economy, current college students and recent graduates are selling themselves to pursue a diploma or pay down their loans. An increasing number, according to the the owners of websites that broker such hook-ups, have taken to the web in search of online suitors or wealthy benefactors who, in exchange for sex, companionship, or both, might help with the bills.
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D - recall when a university educatio was so your daughters would NOT need to sell themselves for sex?
Or to avoid involvement with police.
http://www.rawstory.com/rawreplay/2011/06/swat-team-busts-into-house-over-student-loan-default/
Or to commit crimes.
http://www.thisisdevon.co.uk/University-debt-drove-student-attempt-armed/story-12849793-detail/story.html
A month prior, faced with about $15,000 in unpaid tuition and overdue bills, Taylor and her roommate typed "tuition," "debt," and "money for school" into Google. A website called SeekingArrangement.com popped up. Intrigued by the promise of what the site billed as a "college tuition sugar daddy," Taylor created a "sugar baby" profile and eventually connected with the man from Greenwich. ("Taylor" is the pseudonym she uses with men she meets online. Neither she nor any of the other women interviewed for this article permitted their real names be used.)
In her profile on the site, Taylor describes herself as "a full-time college student studying psychology and looking to meet someone to help pay the bills." Photos on the site show her in revealing outfits, a mane of caramel-colored hair framing her face. But unlike other dating sites, where a user might also list preferred hobbies or desired traits, Taylor instead indicates preferences for a "sugar daddy" and an "arrangement" in the range of $1,000 to $3,000 a month.
Saddled with piles of student debt and a job-scarce, lackluster economy, current college students and recent graduates are selling themselves to pursue a diploma or pay down their loans. An increasing number, according to the the owners of websites that broker such hook-ups, have taken to the web in search of online suitors or wealthy benefactors who, in exchange for sex, companionship, or both, might help with the bills.
----
D - recall when a university educatio was so your daughters would NOT need to sell themselves for sex?
Or to avoid involvement with police.
http://www.rawstory.com/rawreplay/2011/06/swat-team-busts-into-house-over-student-loan-default/
Or to commit crimes.
http://www.thisisdevon.co.uk/University-debt-drove-student-attempt-armed/story-12849793-detail/story.html
Tuesday, July 26, 2011
G&M article on student debt
http://www.theglobeandmail.com/globe-investor/personal-finance/household-finances/staggering-debt-lessons-for-young-and-old/article2109256/
Between 1995 and 2005, the proportion of graduating students in debt increased from 49 per cent to 57 per cent, a 2010 Statistics Canada report said. Undergraduate tuition fees rose by an average of almost 10 per cent a year between 1990 and 1999. The rate of increase has since slowed to 5.3 per cent.
D - yup, and I started university at that 1990 mark. They got rid of grants then too.
Note that "only" 5.3% is still way above the inflation rate, or the rate of wage increase. The law of 72 says that'll still double tuition in c. 15 years.
According to Statistics Canada, the average debt for student loans increased from $15,200 to $18,800. But after adjusting for inflation, debt has not increased at all, said Craig Alexander, chief economist at TD Canada.
“I found that really surprising, given how tuition costs have increased over the years,” Mr. Alexander said.
“I think the only way to reconcile that is either students are contributing more to paying for their financial education, or their parents are, and I suspect it’s more likely the latter … Canadians are starting to save for retirement later in life, and partly, I think this is because more and more parents are helping out students with paying the tuition fees.”
The Statistics Canada report also noted that in 2005, “Canada not only had more individuals graduating with student loans, but also an increasing proportion graduating with larger debt loads than in the past.” The proportion of student loan borrowers that owed $25,000 or more at graduation increased from 17 per cent in 1995 to 27 per cent in 2005. The proportion owing $50,000 or more tripled from 2 per cent to 6 per cent in the same decade.
Collectively, students in Canada owe the federal government more than $15-billion, said Roxanne Dubois, chairperson of the Canadian Federation of Students.
D - aside. I live in a university town. University of Waterloo is within a block of my residence. Laurier is a 5 minute bike ride away. Plus we have Conestoga College.
Waterloo is apparently *the* most intelligent community.
I've met and chatted with Fotini at the Perimeter Institute- one of the top 10 minds to solve Grand Unified Theory or whatever passes for it now.
Walking up the scenic Father David Bauer Drive to the cafe, I just might encounter Stephan Hawking cruising in his wheelchair while on a visit.
A university town thrives on recessions. No work? Not enough to pay off a student loan? Add gasoline to the fire. Go and hide in school some more.
That is exactly what I did. The amount of student housing - major projects - going up around here is huge.
Interestingly, once the recession properly ends, and boom times return, this will result in surplus of student housing, thereby driving down their renting costs.
Between 1995 and 2005, the proportion of graduating students in debt increased from 49 per cent to 57 per cent, a 2010 Statistics Canada report said. Undergraduate tuition fees rose by an average of almost 10 per cent a year between 1990 and 1999. The rate of increase has since slowed to 5.3 per cent.
D - yup, and I started university at that 1990 mark. They got rid of grants then too.
Note that "only" 5.3% is still way above the inflation rate, or the rate of wage increase. The law of 72 says that'll still double tuition in c. 15 years.
According to Statistics Canada, the average debt for student loans increased from $15,200 to $18,800. But after adjusting for inflation, debt has not increased at all, said Craig Alexander, chief economist at TD Canada.
“I found that really surprising, given how tuition costs have increased over the years,” Mr. Alexander said.
“I think the only way to reconcile that is either students are contributing more to paying for their financial education, or their parents are, and I suspect it’s more likely the latter … Canadians are starting to save for retirement later in life, and partly, I think this is because more and more parents are helping out students with paying the tuition fees.”
The Statistics Canada report also noted that in 2005, “Canada not only had more individuals graduating with student loans, but also an increasing proportion graduating with larger debt loads than in the past.” The proportion of student loan borrowers that owed $25,000 or more at graduation increased from 17 per cent in 1995 to 27 per cent in 2005. The proportion owing $50,000 or more tripled from 2 per cent to 6 per cent in the same decade.
Collectively, students in Canada owe the federal government more than $15-billion, said Roxanne Dubois, chairperson of the Canadian Federation of Students.
D - aside. I live in a university town. University of Waterloo is within a block of my residence. Laurier is a 5 minute bike ride away. Plus we have Conestoga College.
Waterloo is apparently *the* most intelligent community.
I've met and chatted with Fotini at the Perimeter Institute- one of the top 10 minds to solve Grand Unified Theory or whatever passes for it now.
Walking up the scenic Father David Bauer Drive to the cafe, I just might encounter Stephan Hawking cruising in his wheelchair while on a visit.
A university town thrives on recessions. No work? Not enough to pay off a student loan? Add gasoline to the fire. Go and hide in school some more.
That is exactly what I did. The amount of student housing - major projects - going up around here is huge.
Interestingly, once the recession properly ends, and boom times return, this will result in surplus of student housing, thereby driving down their renting costs.
Monday, June 27, 2011
on Cdn. Gov't Debt
D - this is a pic of debt held by foreigners.
Notice how suddenly Japan looks OK.
Their debt is largely held by the people of that nation.
Then look at us.
Sure, not quite as bad as the USA.
But not golden either.
Aside- we are not the only nation with a looming retirement problem.
China's one-child policy has resulted in younger men who will need
to care for not ONE, but TWO parents by themselves.
Why do Chinese save so much? And why won't they ever have a robust
domestic economy? They must save that much, without social programs in place,
to take care of their parents in the decades to come.
I think of intergenerational debt as the sins of the father being
visited on the son, and his son, to the 5th generation, to borrow some
Old Testament passage.
It is blood guilt of a sort, the idea that one's children must pay for one's
own wrong-doing.
We don't have the excuse of a Great War to fall back on.
The last few decades have been about hedonism and luxury and living beyond one's means.
Thursday, June 2, 2011
Harper: the issue is health care, stupid
http://www.theglobeandmail.com/news/politics/ottawa-notebook/health-care-talks-with-provinces-should-top-harpers-list-poll-finds/article2044202/
The survey suggests 59.2 per cent of respondents believed working with the provinces on healthcare is an immediate priority compared to 44.1 per cent who said that eliminating the deficit was most pressing and 35.3 per cent who viewed crime-fighting as the top priority for the country.
D - I cannot help but think how those billions to be sent into tough-on-crime policies could help with other less feel-good but more important issues.
The survey suggests 59.2 per cent of respondents believed working with the provinces on healthcare is an immediate priority compared to 44.1 per cent who said that eliminating the deficit was most pressing and 35.3 per cent who viewed crime-fighting as the top priority for the country.
D - I cannot help but think how those billions to be sent into tough-on-crime policies could help with other less feel-good but more important issues.
Wednesday, June 1, 2011
US grad's story- college is scam, a bubble to burst
http://www.marketwatch.com/story/college-is-a-scam-lets-make-some-money-off-it-2011-05-26
Student-loan debt is now greater than credit-card debt for the first time ever. After the huge debt crisis we experienced in 2008 and the financial bust in housing that ruined so many lives, you would think we would be having more of a national discussion on this — but we just aren’t.
Forty-four percent of 2009 graduates are either unemployed or hold jobs that don’t require degrees. So, in other words, these millions of young people are five years behind their peers, and many are holding over $100,000 in debt. What a shame.
On whether the increased income is worth it:
Obviously, this test will never get done, but the basic idea is common sense. Take people who are equally intelligent and ambitious and give them a five-year head start, with no debt. They are going to do very well, I have no doubt.
Tuitions have gone up 10 times faster than inflation in the past 30 years and three times faster than health-care costs in the past 30 years. We need to have an active discussion on this as a society. Meanwhile, the greatest entrepreneurs, artists and inventors in history either didn’t go to college at all or dropped out (or were kicked out).
Ouch...
Student-loan debt is now greater than credit-card debt for the first time ever. After the huge debt crisis we experienced in 2008 and the financial bust in housing that ruined so many lives, you would think we would be having more of a national discussion on this — but we just aren’t.
Forty-four percent of 2009 graduates are either unemployed or hold jobs that don’t require degrees. So, in other words, these millions of young people are five years behind their peers, and many are holding over $100,000 in debt. What a shame.
On whether the increased income is worth it:
Obviously, this test will never get done, but the basic idea is common sense. Take people who are equally intelligent and ambitious and give them a five-year head start, with no debt. They are going to do very well, I have no doubt.
Tuitions have gone up 10 times faster than inflation in the past 30 years and three times faster than health-care costs in the past 30 years. We need to have an active discussion on this as a society. Meanwhile, the greatest entrepreneurs, artists and inventors in history either didn’t go to college at all or dropped out (or were kicked out).
Ouch...
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