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$150,000 in Debt for Law School. Now What?

Written by Gary North on July 8, 2012

This was posted recently. The economic stupidity of the person is clear, even to the person who posted it. As I’ve mentioned before, I graduated from law school over $150,000 in debt. As many of you know, I haven’t exactly paid all of that money back. Not making payments that first year was all my […]

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Pensions for City Employees: Up in Smoke

Written by Gary North on July 5, 2012

A recent report issued by Moody’s rating service reveals that local governments are $2 trillion in the red. Why? Pension obligations. The money has not been put aside. The money that was put aside has not been invested well. The result is obvious: a Great Default is coming. But no one wants to think about […]

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Killer Clause: No Fixed Rate for College Loans

Written by Gary North on July 4, 2012

Students who take out a loan to fund college are making a terrible decision in almost every case. These loans are not necessary. There are ways around debt for college. But most students don’t understand this. This woman signed the loan agreement. She did not read the document carefully enough. She thought it gave her […]

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Culinary School Cooks a Graduate: Massive Debt

Written by Gary North on July 2, 2012

The tragedy of people who take on huge debts for college or specialized training schools is spreading across he nation. This has concerned me for many years. You can imagine the heartbreak of parents who see their children sucked into this quicksand. There is a new movie, Default: The Student Loan Documentary. I hope parents […]

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Reverse Mortgages Disinherit Your Children

Written by Gary North on June 28, 2012

A reverse mortgage is a loan against equity in your home. You borrow against this equity. You must continue to pay property taxes and fire insurance, but you live rent-free in your home. The amount of the loan is determined by your life expectancy. The lender gets your home at the death of the surviving […]

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Obama’s Green Energy Stimulus: $1.6 Million Per New Job

Written by Gary North on June 22, 2012

CBS News ran a story on the job-creating effects of the Obama Administration’s $9 billion worth of stimulus money, 2009-11. First, there were the new jobs created directly. There were 910 of these. These are jobs related to operations and maintenance. They are long-term jobs. This assumes, however, that the companies do not go bankrupt, […]

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Deficits, Republicans, and the Inevitable Great Default

Written by Gary North on June 5, 2012

When Reagan accepted $200 billion-a-year deficits, beginning in fiscal 1983, he ended Republican opposition to big spending and huge deficits. Today, Republican Congressmen occasionally talk tough on spending, but then they vote for programs that guarantee a huge, never-ending federal deficit. They know that hardly anyone back in the district will track their votes. They […]

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