The Morning Roar: Mark Cuban Thinks Student Loan Bubble Will Burst, Greenwald & Iraq Vet Argue On Real Time, 38 Organizations Form Bipartisan Coalition To Pass Real NSA Reform
Welcome to the Monday edition of The Morning Roar!Mark Cuban Thinks Student Loan Bubble Will BurstThere are at least two things Mark Cuban and I have in common. We graduated from the same high school and we both think the higher education system is going to implode.In a video on Inc.com, Cuban compares the student loan crisis to the collapse of the housing market. Cuban thinks the impending bursting of the student loan bubble will put many colleges out of business. Cuban stated:
It's inevitable at some point there will be a cap on student loan guarantees.” He continued “And when that happens you're going to see a repeat of what we saw in the housing market: when easy credit for buying or flipping a house disappeared we saw a collapse in the price housing, and we're going to see that same collapse in the price of student tuition, and that's going to lead to colleges going out of business.
Cuban also made an interesting point about the effect student loan debts have on the spending habits of young adults. Unless something is a necessity college graduates are not spending money on it. He claims this is negatively impacting sales of cars, clothes, houses, and apartment rentals.Cuban's point about spending is referring to the misallocation of resources created by distorted interest rates and federal guaranteed loans that are pushing money towards higher education institutions and away from other segments of the economy. This is one of the many unintended consequences associated with State intervention into the higher education market.An aspect of the student loan crisis that Cuban was remiss to exclude from this particular discussion was increased access to educational materials, which place additional downward pressure on the price of education. There are thousands of online schools that require no classrooms or purchase of expensive books. They also allow the student to learn from the comfort of their own home. In addition to these “official” online schools, the internet provides a platform for ambitious individuals to self-educate on almost any topic imaginable.Mark Cuban is correct. The bubble will burst, schools will go out of business, and people will lose their jobs. The President and Congress at the time will probably panic and try to force some kind of bailout through that places the taxpayer on the hook to save dinosaur institutions of higher education. Hopefully by the time a bailout occurs, access to education will be so abundant, versatile, and inexpensive that the American people force Washington to allow these bloated institutions of higher education to fail.For more on the student loan crisis please check out a recent episode of the Lions of Liberty Podcast where Marc was joined by Aaron Calafato. Aaron is an actor and activist who has toured the country performing his one-man play “For Profit.” On the show Marc and Aaron discuss their viewpoints on the reasons behind the massive student loan debt facing many of the nation’s youth, the devaluation of college degrees, and the direction of education looking forward.Greenwald & Iraq Vet Argue On Real TimeDo you want to watch Glenn Greenwald get into a heated argument with an Iraq war vet over the documents leaked by whistle-blower Edward Snowden?You came to the right place then.My favorite part during the exchange was when Greenwald bluntly states, “So we’re just supposed to take the government’s word?” The Iraq vet Paul Rieckhoff retorts, “And we’re supposed to take your word?”How about we don’t take any individuals’ or government agencies’ "word", but instead look at the track records and evidence presented by all parties involved?The U.S. government is an empire built on lies. Some of the most egregious infringements upon the liberties of the citizens of the United States have been exposed as a result of Greenwald’s heroic journalism. Greenwald put his life and career on the line in order to notify the world to the illegal conduct of the U.S. government. The U.S. government has been gathering and storing the electronic transmission of every citizen. They repeatedly denied this now proven fact. If that is not reason enough to give Greenwald the benefit of the doubt over the State, then I don’t know what does.h/t Liberty Crier38 Organizations Form Bipartisan Coalition To Pass Real NSA ReformA bipartisan coalition of thirty-eight civil liberties and public interest organizations sent a letter to Congress on June 19th that states they cannot support the watered-down version of the USA FREEDOM Act. The USA FREEDOM Act passed in the House of Representatives after being changed at the last-minute in closed-door meetings, which weakened the bill.The Electronic Freedom Foundation was one of the organizations to sign the letter sent to Congress. The full text of the letter can be found on their website. The six issues that have been deemed as being vitally important in order for the Senate version of the bill to be supported by these thirty-eight organizations are listed below.
- Definitively end “bulk” collection.
- Strengthen transparency reporting and other transparency provisions.
- Avoid ratifying dragnet searches of our international communications.
- Strengthen Reforms to the FISA Court (FISC) Process to Provide More Accountability.
- Restore strong minimization requirements for the FISA pen register and trap & trace surveillance authority.
- Put strict limits on the new call detail records (CDR) authority.
The end goal should be to abolish the NSA. But in the meantime, supporting organizations that seek to place constraints on the notorious agency is not out of line. Barring some unforeseen mass awakening the NSA is not going anywhere anytime soon. For this reason we will continue to provide updates on the organizations that are trying to rein in the now infamous agency.Read The Morning Roar every weekday Monday-Friday!The Lions of Liberty are on Twitter, Facebook & Google+Receive access to ALL of our EXCLUSIVE bonus audio content – including “Conspiracy Corner”, “Degenerate Gamblers” and the “League of Liberty Podcast” by joining the Lions of Liberty Pride and supporting us on Patreon!
