This is just graft on a Federal scale.
Thursday, May 31, 2012
Graft
The Puppy Blender links to this post today which features this alarming chart.
Allow me to simplify what's going on here.
Yes, I know, technically you can't default on a student loan. At least not right now. Once the higher education bubble bursts, there will be all kinds of political pressure to forgive loans or change their terms to the point where they are forgiven for all practical purposes.
This is just graft on a Federal scale.
This is just graft on a Federal scale.
Whoa there Nelly, with the change in bank rules on holding government bonds the actual loans will be forgiven at the expense of our savings and investment markets. Goodbye small business start up money!
ReplyDeleteyour flow chart makes it look like the students become tax payers. Where's the protest phase?
ReplyDeleteGads, I missed the Occupy box!
ReplyDelete