Educashun - Less is More!

In an age where every academic institution is called a "university" and every person leaving school is expected to have a "degree" in order to flip burgers, don't be surprised that student debt is so high.

For why?

They have to pay for yacht owning vice chancellors, as per the FT:

"Prof Holmes, vice-chancellor of the University of Bolton, who drives a vintage Bentley Continental, also has a 30ft yacht moored on Windermere and believes academics should not hide their wealth. 

“I have had a very successful career. I hope students use their education to get a good job and then they can have a Bentley. Do you want to be taught by someone who is successful or a failure?” he said. 

Prof Holmes’ taste for luxury is partly funded through an inheritance from his father, a property developer, but he also earned £222,120 in 2016, up from £202,500 the year before."

I am so old that I remember a time when there weren't so many universities, nor students and zero student debt (apart from the debt between parent and student!); because there weren't university fees, and students were awarded a means tested grant.

Less is more!

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Nanny Bans The Money Lenders

The BBC reported the other day that payday loan adverts have been banned from billboards and bus stops by Plymouth City Council, while Cheshire East Council has banned access to their websites from its computers.

Whilst it is true that payday loan companies offer small loans over short periods at remarkably high interest rates (APR's running into 1000's of percent), it should be remembered that the loans are available to people classified by mainstream "respected" banks as being high risk (eg low income, poor credit history with the likelihood of not being able to pay them back).

By denying such people access to a regulated, albeit high rate of interest, loan market Nanny is in effect pushing them into the hands of the loan sharks who are not regulated and who break legs in order to extract their debts.

People do not merrily skip and dance to these companies because they have nothing better to do, they borrow from them because they have literally run out of cash (by all means feel free to lecture them on the concept of "fiscal prudence" etc) and their only alternative is a loan shark.

Nanny is perfectly at liberty to ban payday loan companies, as and when she has in place a loan system that works for people whom the mainstream banks won't touch with a bargepole.

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Prat of The Week - Dave Willetts

Ooh er missus, it has been a wee while since I have awarded a Prat (or Prats) of The Week Award, therefore without further ado here it is.

This week it goes to an individual, David "Two Brains" Willetts (Nanny's higher education minister, whose nickname derives from the fact that people regard him as being very intelligent).

Anyhoo, Two Brains was applying his intellect to the issue of those who are in their sixties who still need to work in order to be able to live.

His solution was simple and "brilliant", they should go to university in order to obtain new skills; thus they would stand a better chance of being employed, or of simply keeping their jobs.

Brilliant!

How would these silver haired students pay for their education?

Study loans.....just like the youngsters!

Therefore, at the end of three years or so at university a sixty something graduate will leave with around £27K of debt.

What are their chances of being employed?

Well, based on the fact that 20 year old graduates are having problems finding work, I would say fark all.

So what happens to the £27K debt then?

No income, no need to to pay back!

Simples!

Money and time well spent!

Dave "Two Brains" Willetts, well deserving Prat of The Week.
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Councils Are The Enemies of The People - Great Coates Abolishes Council

As loyal readers know, councils are the enemies of the people.

My thanks therefore to a loyal reader who tipped me off about a revolt by the good people of Great Coates against their parish council.

Over 650 Great Coates residents (over 90% of the village) have signed a petition calling for the parish council to be dissolved. The Great Coates Residents' Association (Grass) have now presented the councillors with the petition.

For why are the good people of Great Coates so angry with their parish council?

Well it seems that (in a microcosm of what national governments do) the parish council decided to rack up a large debt (£300K), the liability for which rested with the residents rather than the councillors who took the loan out.

Oh, and by the way, the loan plus interest places the villagers in debt to the tune of £700K!

Governments and councils are always delighted to take on huge debts, but are very reluctant to take personal responsibility for repaying them; instead they foist that burden onto the voters and taxpayers!

Funny that isn't it?

Anyhoo, in theory the loan is meant to pay for a new village hall.

All very nice and dandy, if the villagers actually wanted to pay £700K for a new village hall.

Can you guess what though children?

Yes, that's right, the villagers do not want to pay for a new village hall or indeed be placed in debt to the tune of £700K!

Local referendums voted against the hall, but the council ignored the people.

Raymond Lawrance, chairman of Grass, told the councillors:

"The petition was created because you chose to ignore our referendums which voiced a resounding 'no' to build the hall.

We are asking you, as a council, to represent us and respect our views. And because you haven't, we have created the petition. It took several weekends to visit houses and it is still ongoing.

We will be taking legal advice with a view to taking action to abolish the council, if you choose to go ignore this petition."

The councillors have not commented.

Here's my comment:

Councils are the enemies of the people!

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