NH Sen. Jeanne Shaheen is currently crushing the aspirations of the young by chaining a student loan millstone around their necks.
Shaheen is a multi-millionaire who lives in a demographically traditional New Hampshire town. Sometimes, Shaheen scoots out to billionaires' homes to grab more cash for herself. She recently headed out to San Francisco, and not to do a Labor Day weekend show. Shaheen was at the San Francisco home of billionaire Tom Steyer, in an effort to gather more money.
Shaheen likes to play the concerned politician when it comes to talking about the economy-crunching calamity of student loan debt. Shaheen knows that the average student loan debt load for New Hampshire students is $33,000.
Shaheen knows that total U.S. student loan debt is now over $1 trillion dollars. Shaheen has eyes to see just like you and me. Everybody aware of financial basics could see that when student loan debt passed auto loans and credit card debt, the resulting economy of the U.S. would be in bad shape for the future. Affordable family formation is being crowded out by young people having such massive student loan debt burdens.
Shaheen has nothing but micro-solutions to the student loan debt bomb about to detonate in the U.S. Shaheen is not dumb, she can see the student loan demographic dilemma just as well as any Pew Research Center egghead.
Shaheen likes to pal around with Goldman Sachs billionaire "global warming" enthusiast Tom Steyer. Shaheen can also be found canoodling with new Federal Reserve Bank Chairman Janet Yellen.
Billionaires currently have too much power in the U.S. Fed boss Yellen has the power to conjure dollars out of thin air. Somethings got to give in regard to student loan debt burdens.
Shaheen should tell her new gal pal Yellen to purchase the $1 trillion dollar plus outstanding student loan debt. The Federal Reserve Bank has already stacked up $4 or $5 trillion dollars worth of toxic paper from its member banks.
There was no market for the toxic sludge mortgage backed securities the Federal Reserve Bank has recently acquired. The Fed made the market. There has been, of course, more of a market for the U.S. Treasury securities(bonds) that the Fed has purchased, claiming the conjured loot helped the financing of various assets -- stocks, bonds, real estate. Most honest onlookers would say the Fed just re-inflated previously collapsed asset bubbles.
Shaheen has done nothing of real import to stop student loan debt from imploding the economy of New Hampshire and the U.S. Shaheen knows that Tom Steyer's old stomping grounds at Goldman Sachs would have been financially obliterated if the Goldman Sachs counter-party AIG was not bailed out by the Federal Reserve Bank. When the Fed handed out all the conjured-up, printed-up loot to AIG, it was really to bail out all the plutocrat scoundrels at Goldman Sachs.
Shaheen is a crafty, canny politician. Shaheen might be considered a political leader if she offered more than ineffectual political boilerplate to the student loan demographic disaster hitting New Hampshire and the U.S.
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