While associated with the other scam bloggers, SubprimeJD has a broader scope than just the law school scam. As a law graduate and young attorney I have personal experience and knowledge of how the law schools are ripping of their students. Maybe pre crisis they knew they were fudging the data but figured that the majority of their graduates did alright. Post crisis, with the economy going to shit, with law firms laying off thousands of associates, coupled with absurd increases in tuition, without a doubt these schools now know that they are operating a scam for a good portion of their graduates. Throw in the scam blogs, mainstream media articles, ABA statements and the most recent letter from Senator Boxer, the schools are now on at least constructive notice, if not actual notice, that they are operating a scam that is harming thousands of graduates every year.
As a decent person, it is my duty to warn potential law school applicants about the dangers and risks associated with attending law school at the present time. Throw in the student loans and it's a recipe for financial and emotional ruin. For some insidious reason, peonage and slavery have returned to America, this time in the form of student loans. It matters not if it takes you 3 years after graduating to find decent employment. The student loan will grow and grow and can never be defaulted on. If you find the practice of law disgusting and just can't bear life in the field, it matters not, the loan will follow you. If you borrowed over $100,000.00 your situation can turn precarious. With shot credit, you will be charged more interest for all financed purchases. Be prepared to save as much money as possible while paying rent and the loans in order to purchase a car without getting raped with 20% on a car loan. Prepare for a life of less while you find others that don't have a college degree earning the same if not more money than you without having to pay any student loans off. Prepare to be infuriated. This is not time to go to law school, especially if you have to finance your attendance with student loans.
In addition to scam blogging as my regular readers know I also discuss markets, with an emphasis on commodities, debt, and precious metals. This is an extremely important time in American economic history. For the first time perhaps since the civil war we face a grave crisis threatening our nation. For the first time in our history, we face bankruptcy. This is why I post charts about silver, gold, the dollar, crude oil and the debt levels. I'm no economic expert, I'm a personal injury lawyer. I studied political science and got a law degree taking courses in fucking evidence, civil procedure, family law, et al. However, I have spent the last 4 years reading about economics like a mad man. Since I realized something was very wrong with our economic system, I made it a mission to learn as much as I could. Many people will discredit the things I say because I'm not an authorized voice to speak on such matters. I have no masters in economics, I'm no professor at some prestigious university. However, I specifically recall reading article after article from University professors proclaiming in the summer of 2008 that the US would avoid a recession while economic disaster was weeks away. I called bullshit and said the stock market would crash to 6500 with the financial system imploding on itself. Lo and behold I was dead on. So either I'm a genious and these professors/economists are all captured by groupthink, or I got lucky time and time again and they are lying to us. Believe whatever you want, just don't forget my silver and gold calls.
Nevertheless, as I stated before, I'm no expert in this area but I can say with some confidence that I have a good idea of what's going on. I learn from some of the brightest minds out there that don't get much media exposure and willingly share the wealth on this blog. I have had several readers catch on to the ponzi (our cute little reference to the global economic system) and have taken action to prepare for the coming troubles. Perhaps we are wrong to prepare. Oh well. I'd rather be stuck with supplies (water, food, arms, medicine) and precious metals then be caught unprepared in the event of economic dislocations as a result of a failing monetary system. I work nearly everyday and save as much as I can. I have the luxury of living at home even though I can move out tomorrow. I'd rather give up some privacy and independence in exchange for being able to save as much as possible for as long as I can. If you this option I suggest you also use it.
This is the message of this blog. In as simple words as possible our economic system is in trouble and instead of the problems being cyclical this time they are structural in nature. In addition, for the first time in modern economic history, we have an energy crisis even though oil producers are pumping at the max. Our debt backed high powered interest growing money is hitting the wall of limits to growth due to energy issues. We also squandered our wealth as a nation by going into obscene debt to the point where a central bank has to print trillions of dollars just to keep the show going. The list goes on and on. I can't change the future but I can prepare MY future. A nice quote I heard the other day, "no one plans on failing, but people do fail to plan."
Just trying to get as many people on board as fast as possible before its too late. I will continue to provide as many FACTS as possible so you all can make your own independent judgments. The media is doing its job serving their corporate masters. I'm doing my job by giving out the warning. Thanks for all the support.
PS Good job Nando with the ABA panel! That was some good exposure. Keep up the scatological toilet bashing!!