Trump vs. Powell and Dismantling the Education Debt Machine

Pres­i­dent Trump’s atten­dance at Pope Fran­cis’ funer­al in Rome on Sat­ur­day, fol­low­ing the pontiff’s recent pass­ing. The esca­lat­ing feud between Trump and Fed­er­al Reserve Chair Jerome Pow­ell, with Trump demand­ing low­er inter­est rates, claim­ing infla­tion is near­ly nonex­is­tent and warn­ing of eco­nom­ic slow­down if Pow­ell doesn’t act. Trump asserts he can remove Pow­ell despite the Fed­er­al Reserve’s inde­pen­dence from the U.S. gov­ern­ment. The  Depart­ment of Edu­ca­tion, alleg­ing Barack Oba­ma trans­formed it into a “stu­dent loan bank” con­trol­ling $1.6 tril­lion in debt owed by 42.7 mil­lion bor­row­ers. Under Lin­da McMahon’s lead­er­ship, account­abil­i­ty mea­sures are set to resume on May 5, mov­ing 1.8 mil­lion bor­row­ers into repay­ment plans, with penal­ties like wage gar­nish­ment for defaults. Final­ly, it notes Klaus Schwab’s retire­ment from the World Eco­nom­ic Forum, fram­ing it as a sig­nif­i­cant shift. These events were inter­con­nect­ed bat­tles against entrenched pow­ers in finance, edu­ca­tion, and glob­al influ­ence.

• Pres­i­dent Trump will be at the funer­al of the Pope on Sat­ur­day. 
• There is a finan­cial melt­down between Jerome Pow­ell and Trump. Trump wants inter­est rates to be low­ered. Trump said that when he wants Pow­ell gone he will be gone. The fed­er­al reserve is not an agency of the Unit­ed States. There is a pow­er strug­gle here between the two. 
• Trump says…There is vir­tu­al­ly no infla­tion. With these costs trend­ing so nice­ly down­ward, just what I pre­dict­ed they would do, there can almost be no infla­tion but there can be a slow­ing of the econ­o­my unless Mr Too Late low­ers inter­est rates. 
• Barack Oba­ma turned the Dept of Ed into a bank, a stu­dent loan vehi­cle. This is the rea­son we want to get rid of the Dept of Ed. If you con­trol the kids, the bank, the mon­ey… can’t make this up. 42.7 Mil­lion bor­row­ers owe more than $1.6 Tril­lion in stu­dent loan debt. Lin­da McMa­hon Account­abil­i­ty returns to stu­dent loans. On May 5 the process of mov­ing rough­ly 1.8 Mil­lion bor­row­ers into repay­ment plans and restart col­lec­tions of the loans in default. Bor­row­ers who don’t make pay­ments on time will see their cred­it scores go down and in some cas­es their wages auto­mat­i­cal­ly gar­nished. 
• Klaus Schwab retired yes­ter­day.