Head Of The Class, Back Of The Unemployment Line

The most honest high school valedictorian speech you'll ever see is making the rounds like wildfire today.



Considering the next huge bubble economy is student debt in the US, she's on to something here.  How bad is it?  From January 2008 to January 2010, student loan debt has doubled from $100 billion to $200 billion.  From January 2010 until now, the amount has doubled again to nearly $400 billion.  The major reason?  Unemployment among 20-24 year olds is upwards of 20-25%.

When you owe $150,000 in student debt and you're struggling to swing a barista job at Starbucks, it's kind of hard to get that house and car you need.  Student debt is basically pinning down everyone in their 20's right now and it's going to get a lot worse before it gets better.  This is the new debt bubble, folks.  When it blows up, it's going to be brutally ugly.