Tuesday, August 2, 2016

Student Loans and the Next Bubble

The above us the summary of outstanding student loans. As of January 2016 they were in excess of $1.4 trillion, yes "trillion". Unlike the housing bubble, there really is no asset behind it. Unless the student is a Chemical or Electrical Engineer, we really don't need any more Progressive Political Scientists. We need people to create, not to talk. In fact we most likely don't need any more MBAs or Lawyers.

What we really do not need is to continue this explosion. It is three times the Medicare load. And for that people paid in and continue to pay in.

Frankly this is truly terrifying. It is all unsecured and one Party is saying they will just wipe it out. Really!