"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."
Friday, March 28, 2014
Helped to Death.
Over in comments at Silicon Graybeard's, talking about the state of the Governmental-Education Complex today:
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4 comments:
Got that right. If you can hold people up, most business will.
Profit has no morality
And that Sonic wouldn't have the necessary drivetrain to transport you to gainful employment, causing you to cry in your parents' basement, bemoaning your $150K loan on a car your parents and society told you you had to have.
Profit comes in different flavors. The auto dealer in the example would rake in the cash; education administration jobs seem to be the "profit" generated by current educational loan policy.
At least the auto dealer would spend the cash in the local economy. As far as I can tell, "education administration" money falls into a black hole and produces nothing at all.
Right - but money isn't the only thing people get held up for. Governments do it for power.
And Tam - that statement is in danger of collapsing into a black hole of Win.
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