Stanford university students enthusiastically embraced hope and change (which was PC term for socialism). Little they knew until now that 50% of their education was paid for by $1.1 billion annual withdrawals from endowment fund.
Nowadays contribution to the endowment dried up. The contributions were made by greedy evil wealthy capitalists who could afford it, starting with Leland Stanford, railroad magnate and ruthless exploiter of working poor.
Not only that, but also in capitalism the funds were invested for profit. The funds were invested into corporate stocks, commercial real estate and federal T-bonds.
Now with unions and carbon tax and corporate tax, the corporations are unable to generate any profits anymore, hence no dividends.
Commercial real estate is vacant and is losing money.
Federal T-bonds yield meager 2% because bondholders are forced to compete against Federal Reserve, which monetizes debt like crazy.
To make the long story short, thanks to coming socialism the value of the endowment shrank from $17 billion to $11 billion. And annual profits fell from $1.1 billion to $0.35 billion - threefold.
As the result Stanford University had to introduce health care co-payments for students, lays off 8% of employees and cuts services. More to come.
And of course military tribuanals continue, and Obama's administration found itself to the right of Dick Cheney with respect to marriage equality.
All of this serves you right, liberals. You won. The party is over. The night of long knives is coming.
Orignal From: Is it possible that capitalism was not so bad after all?
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