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> And I'm sorry, the moment you use "socialism" to describe the government backing private loans from institutions that are privately held you lost me No, I am
by jedmeyers 6y ago
> And I'm sorry, the moment you use "socialism" to describe the government backing private loans from institutions that are privately held you lost me
No, I am sorry. When government forces financial institutions to give loans to everyone applying without risk analysis it IS socialism, aka “democratic control over the enterprise”. No capitalist in their right mind would give hundreds of thousands of dollars to pay for underwater basket weaving degrees and expect to see the money back.
- alisonkisk 6y agoWe used to have socialized college education, taxpayer paid. Now we have capitalist loans paying for it, and borrowers pay high rates of interest for decades. No one has a degree in underwater basket weaving.