That "loan" is in fact a negative-amortization exploding debt bomb but Johnny is too ignorant to figure it out.

He's ignorant because you intentionally dumbed down his schooling, lest he figure out that dear old Mom and Dad have every intention of bending him over the table and raping him repeatedly when they get older, as there is not a snowball's chance in HELL that the Ponzi Scams called "Social Security" and "Medicare" can be sustained.

So to hide YOUR intent to screw YOUR child you intentionally failed to teach him or her how to calculate these things out for him or herself, afraid that Johnny or Jane will figure it out and tell YOU to go straight to hell for mortgaging their future.

Of course after the first generation does this to their kids, the next generation - the 20-somethings of today - don't know any better! They poop out a few kids but now they don't know what they should be teaching their kids - but aren't.

And the best part of it is that our government indoctrination centers, otherwise called "schools", don't teach this stuff either so Johnny can protect himself from the predators on both Wall and Main Streets, because by gosh, if they did, Johnny would figure out that the government is running that very same gigantic Ponzi Scheme!

Now let's take an objective look at educational standards to see if I'm overstating my case.

I'm going to use for this purpose the infamous 1895 eighth grade graduation test from Salnia, KS.

Snopes has gone after this and claimed that this does "not" demonstrate a shocking lack of educational standards. Notice that they say nothing about the authenticity of the test - that's because, after lots of research, plenty of people have confirmed that it IS authentic!

I'll accept about half of the criticism of the test at face value. Certainly, the history portion of the test is unfair by today's standards - it focuses on the topical events of the time, which we would pay a different level of attention to - and justly so. Geography, unless you live in Kansas, I'll give you half on, considering that a good part of the questions were Kansas-specific.

But how about the grammar portion? Hmmmm..... has "The King's English" changed? Oh I think not. More to the point, are we more concerned with "diversity" in language today than proper grammar? Ebonics anyone?

How about arithmetic? While you can probably argue that some of the units demanded in that section of the test are arcane for all but an agrarian society (e.g. rods and bushels), a few of those questions stuck out instantly given the financial situation we find ourselves in. Specifically:

6. Find the interest of $512.60 for 8 months and 18 days at 7 percent.
8. Find bank discount on $300 for 90 days (no grace) at 10 percent.
10.Write a Bank Check, a Promissory Note, and a Receipt.

Well, well, well. Now isn't that interesting. A substantial part of the arithmetic portion of the test bore specifically on matters of finance that would be of interest (pun intended) to anyone who was borrowing money!

Do we teach any of this today? Of course not! Walk into any car dealer - "how much payment can you afford" becomes the primary focus of any negotiation there as soon as you disclose that you intend to finance the car. And why not? 99% of our government school graduates not only couldn't answer those three questions in 8th grade they couldn't answer them as high school graduates either!

Think I'm being unfair towards the government indoctrination centers, er, schools?

I'm not. Here are the facts.

I ran a company with a few dozen employees for more than a decade - in Chicago. I got tired of so-called High School Graduates that were unable to answer those three questions above, or anything resembling them in the ordinary course of business.

See, if you worked in my office, someone might occasionally come in that forgot to pay their bill. That could require that you be able to make change for them, in your head or on a piece of paper using a pencil, for a $20 so they could get their service restored.

The majority of applicants were unable to do this; I instituted a math and English test necessary to get an interview, calibrated at an average 7th grade level. Nearly 9 out of 10 applicants - out of a pool of thousands over the years - failed. I kept ever one of these tests in a file cabinet in the event that the EEOC tried to claim I had "discriminated" against someone, along with aggregate statistics. It was disgusting.

Now let's be objective about this.

WHY aren't those questions on today's 8th Grade tests?

The government does not want our high schoolers, say much less graduates, to understand that both Government and Private Business are running one gigantic Ponzi Scheme after another, and that all are destined to collapse.

Notice that in 1895 there was no Social Security and no Medicare.

There was no incentive for the government to keep you from knowing about exploding debt bombs, whether on your personal or the public's balance sheet.

In fact, the government was quite interested in you having that knowledge, because you were expected to protect yourself and save on your own - there was no "social security" safety net and if you needed a doctor as you got older, you damn well better be able to pay him. If not, you might die, and government was interested in that not happening, since dead people don't pay taxes (other than one last gasp in the inheritance tax!)

Every year I get a "statement" from the Social Security Administration. It says that it is a statement of "projected" benefits, and shows the money that I've reported to the SS(A), and reminds me of both the dates on which I can "apply" and also that I can "apply" for Medicare as well.

Nowhere on that statement is the fact that according to both Mr. Walker, the former Comptroller General of the United States (you know, the chief accountant?) and The Dallas Fed's Fisher, Social Security and Medicare have a net present deficit of ONE HUNDRED TRILLION DOLLARS, and absolutely no plan or ability to fund it.

Fact is, I have no desire to suck off the public tit. If I cannot pay for my own medical care when I get older, it is time for me to go meet God. If I cannot pay for my own food and shelter, ditto. I have the right to ask my progeny for help, but I do not have the right to force her to cover my medical or living expenses via theft - otherwise called "taxation."

My parents see this differently. They have plenty of money to pay their own way. But they are very interested in not doing so, nor checking out peacefully if they exhaust their resources. As such they are perfectly happy to screw both me (as their son) and their granddaughter.