Who First Alerted the Public About For-Profit College Fraud?

The number of accurate forecasts and leading-edge insights presented in America’s Financial Apocalypse is too long to list. But here are a few examples.

As one demonstration pointing to the comprehensiveness of this book, we will post an excerpt exposing the for-profit college fraud that has recently become a topic of debate by Washington and others.

Remember, this book was published in 2006. Ask yourself when you started hearing about the controversial nature of for-profit colleges.  

As yourself if the media celebrities who are positioned as experts...guys like Peter Schiff and the rest of that crew...were talking about the for-profit controversy prior to the economic collapse.

I'll answer for you. NO, THEY WERE NOT.

But you had better believe that once it became a topic of debate, attention-whore and full-time marketer Peter Schiff was talking about the issue because all he cares about is generating attention.

He wants exposure hoping to land new accounts from sheep.

He is also focusing on his intent to run for senate next time around. That alone should make you scratch your head.

Maybe if Schiff spent less time in sales and marketing, media appearances and shooting his mouth off with the same generic and delusional lines, he just might be able to help his clients do better with their investment returns.

The fact is that these guys are broadcasters and talking heads looking to jump on every media buzz they can in order to generate publicity for the purpose of boosting sales of their books and services.

They are not analysts.

They are not creative or intelligent thinkers.

They are salesmen. 

And they are the last people you should go to for investment analysis or investment management.

Okay so here it is; nothing too long, but evidence that America's Financial Apocalypse hit on every topic you can imagine.

From America’s Financial Apocalypse (expanded version, 2006)

“Government-Subsidized Fraud

The epidemic of America’s declining K-12 public school system has not gone unnoticed by businesses. Over the past two decades hundreds of colleges have sprung up to fill the gap in education for many who couldn’t get accepted into a four-year university, or for those already working but wanting to advance or change careers.    

Every year, thousands of Americans enroll in one of the many non-traditional, for-profit, two- and sometimes four-year degree programs offered throughout the United States. In the past, these colleges focused on traditional blue-collar skills such as carpentry, plumbing, welding, machinery, and so forth. However, as the high-tech field has been seen as the most lucrative career choice for modern America, these colleges now focus on providing relatively low-grade, “dead-end” technical skills disguised as high-quality degrees that promise to open the door to a lucrative professional career.   

Many of these colleges have inappropriately used success stories of high-tech careers in order to position themselves as institutions that provide an entry into lucrative jobs, when in fact this is often not the case. They make use of television airtime during programs targeted towards specific socioeconomic groups, offering a “better life,” higher wages, and job stability by enrollment into their programs. 

While many of these schools teach valuable skills and offer certification degrees that do have market demand, they often exaggerate job placement rates and the abilities of graduates. Some of these schools have outdated curriculums, inadequate or outdated equipment, and incompetent teaching staff. If it were that easy to change one’s life from two years of moderate study, the laws of supply and demand would kick in and nullify these opportunities. However, many of the jobs these schools claim to prepare one for never materialize, leaving many with broken dreams and a pile of inescapable debt.  

The price tag for many of these schools might shock you. Most are very expensive. But financial aid is a virtual certainty due to student loan programs offered by the government. When post-secondary schools begin operating as for-profit entities and make exaggerated claims of a better lifestyle and secure future resulting from completion of their degree programs, this creates a major problem that should be investigated by the FTC. However, when federal-backed funds are made available to these institutions, you’re talking about taxpayer fraud. 

It’s a great business to be in if you run these schools. You make exaggerated promises to people wanting to improve their situation. And you’re able to provide them with loans from the government which are guaranteed by taxpayer dollars. These schools have set up such a great business that many of the parent companies are now publicly traded.   

There have already been hundreds of accounts of former students forced into bankruptcy due to their inability to obtain employment after graduation. However, as these unfortunate victims have discovered, student loans are exempt from bankruptcy relief under all circumstances.”   

Now ask yourself this question.

Do you want to read books that discuss something AFTER they have hit the mainstream?

If so, you have an endless list of books and authors to choose from.

Or do you want to read books that discuss something BEFORE the masses are aware of the problem?

If you answered yes to this question, you need to read America’s Financial Apocalypse.

And if you have already read, we suggest you read it again.

If you have the extended version, we recommend you study it if you want to know more about what is going on than everyone else.

There's a very good reason why many of the top fund managers have called this book "the most prolific and accurate investment-related book of our time."

There's also a very good reason why many others have called it a "virtual crystal ball."

There has been no other book written before or since that addressed the full nature of issues in the U.S.

In addition, there has never been another book that so accurately predicted the details of what we see today. 

I challenge you to prove me wrong.

Unlike the vast majority of books which have shelf lives of 6 months at best, every book Mike writes is guaranteed to have a shelf life of many years.

Some of his books, like the Wall Street Investment Bible will remain valuable indefinitely.

Have a look at the table of contents and you will begin to see just how comprehensive this book is. America’s Financial Apocalypse

 

 

We uploaded thousands of pages of documents (nearly 40) related to dozens of for-profit colleges, discussing every aspect of each school, including investigations by Congress. To download these documents, please check the Special Reports section under the Library menu.