Quick reinforcement over at Tam’s place today, of what I said a few days ago about Socialism/Cronyism screwing people blue, and those people being too dumb to realize it.
"If the federal government made auto loans subsidized, guaranteed, and undischargeable by bankruptcy, a Chevy Sonic would cost $150k and you would need to show proof of new car ownership to get all but the most menial of jobs."
The thing is, this isn’t even that unbelievable a thing for them to try and do. All it will take is for politicians to decide that automobile ownership, and the mobility that carries with it, should be “universal” and that in the interest of “fairness” that banks and the government should make these loans.
Sounds a little like the whole housing debacle and bubble, doesn’t it?
So why is it so hard to believe that the skyrocketing costs of college are just that – an education bubble, that is going to pop soon, just like all bubbles are destined to do?
All the kids going to school right now for worthless degrees need to take note – all the people that bought their houses during the bubble got hosed royally. Draw the moral…