The present paper--from a vantage in Bulgaria, and focusing in significant part on this country as an iconic example of the "post-socialist freefall' and its dystopia on European capitalism's neocolonial "new periphery"--is a revised version of an earlier chapter in "Immiseration Capitalism and Education: Austerity, Resistance and Revolt," (Hill, D. 2013). It was originally written as a "post-socialist" supplement to perspectives on austerity capitalism, education and fightback as analyzed in that volume. The revamped paper comprises an Introduction and six main sections, the first three contained in installment 1 of the article here, Sections 4-6 in a second installment to appear in the next issue of "Journal for Critical Education Policy Studies."