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Earlier quoted context omitted.
> Eh, it's not "real" money Why not? It was real to the tax payers who paid it to the government and real to the Corinthian employees who were paid by the school and it will be real to the students as they struggle to pay it back over many years.
Because the Fed can add and remove dollars from the economy at will. See: Quantitive Easing with mortgage-backed bonds.
So basically students enroll in a scam college to trick people into thinking they are well educated, and then complain when the scam is revealed. What's next, people who scam money from the elderly by pretending to be their grandchildren sue after only getting 25 cents with their birthday cards? I realize these colleges are also using high pressure sales tactics to trick vulnerable populations into enrolling and then…
>So basically students enroll in a scam college to trick people into thinking they are well educated, and then complain when the scam is revealed. I don't think so. There are colleges (mostly online and often postgraduate only) where the 'student' is in on the scam. They mostly serve markets where promotion or pay prospects are tied to box ticking possession of a masters or PhD with no real consideration of the acade…
Earlier quoted context omitted.
To pay for someone's education someone else must be taxed. Why is it better to tax a working person for every student's education instead of just having that person pay for the exact education they received?
To pay for infrastructure repairs someone else must be taxed. Why is it better to tax a working person in order to repair roads instead of just having drivers pay for the proportion of roads that they use?
A lot of countries have a free post secondary education system : https://en.wikipedia.org/wiki/Free_education#Partial_list_of... It always astonish me to think it can be seen as normal, even more equitable, to require people to get so huge debts before even being trained to work.
A sensible system would be one like Brazil's (and possibly other countries): free education at public universities for those who qualify on the stringent entrance exams along with a system of private universities for those who don't make it and can pay for it. This would allow all deserving students a high quality, free education while limiting the amount of waste and degree inflation that would result from a complet…
Earlier quoted context omitted.
Because the Fed can add and remove dollars from the economy at will. See: Quantitive Easing with mortgage-backed bonds.
Is any money real money, by that logic?
Think about it. We exchange dollars, euros, bits, whatever all day long. Do you ever stop to think, "Why does this hold any value to me?" Its because someone else will accept it in exchange for goods or services.
The Onion, as always, captures this perfectly: http://www.theonion.com/articles/us-economy-grinds-to-halt-a...
Did the students get a loan from the college or a bank? Did the bank fail? Can I refuse to pay back my mortgage if my house burns down?
[0] http://fortune.com/2014/11/11/gi-bill-for-profit-colleges/ [1] http://www.pbs.org/newshour/bb/gi-bill-benefitting-profit-co...
A lot of countries have a free post secondary education system : https://en.wikipedia.org/wiki/Free_education#Partial_list_of... It always astonish me to think it can be seen as normal, even more equitable, to require people to get so huge debts before even being trained to work.
A sensible system would be one like Brazil's (and possibly other countries): free education at public universities for those who qualify on the stringent entrance exams along with a system of private universities for those who don't make it and can pay for it. This would allow all deserving students a high quality, free education while limiting the amount of waste and degree inflation that would result from a complet…
A lot of countries have a free post secondary education system : https://en.wikipedia.org/wiki/Free_education#Partial_list_of... It always astonish me to think it can be seen as normal, even more equitable, to require people to get so huge debts before even being trained to work.
A sensible system would be one like Brazil's (and possibly other countries): free education at public universities for those who qualify on the stringent entrance exams along with a system of private universities for those who don't make it and can pay for it. This would allow all deserving students a high quality, free education while limiting the amount of waste and degree inflation that would result from a complet…
California used to have a multitier system of tuition-free higher-education (two tiers of tuition-free public university, both selective but one moreso than the other, plus the community college system) along with private universities, so it worked somewhat like that, but that eroded over time.
Earlier quoted context omitted.
Because the Fed can add and remove dollars from the economy at will. See: Quantitive Easing with mortgage-backed bonds.
Is any money real money, by that logic?
Now ask yourself: what do central banks hoard? Whatever they hoard must be, at the very least, a more "real" kind of money than the money they print. Do they hoard diamonds? No. Do they hoard platinum? No. Do they hoard fine art? No. Do they hoard expensive wine? No. What do they hoard? Gold. And why do they hoard gold while publicly stating it's a useless and worthless metal? "Tradition", according to Ben Bernanke.
So if you believe our rulers, you can sleep sound in knowing nothing is real money, and the worthless stuff central banks hoard, they're doing it just because it's tradition. All this work of moving this stuff around the globe in armored planes and escorted ships, it's all for tradition, you see.