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I think you're being too optimistic. Collapse of student loan debt most certainly won't bring down tuition. What will happen is the government/taxpayer will sho
by nvarsj 5y ago
I think you're being too optimistic. Collapse of student loan debt most certainly won't bring down tuition. What will happen is the government/taxpayer will shoulder it and everyone's quality of life will decrease overall. The same thing happened with the mortgage crisis of 2009 and the massive government bailouts - and look, the housing market is a giant bubble again, and completely unaffordable if you're not already on the property ladder, and western governments will preserve it at all costs (like, letting inflation drive everyone's cost of living up so that the mortgage/house market doesn't fall through by being forced to raise interest rates substantially). The system doesn't operate logically or fairly anymore.
- unicornmama 5y agoIn the GFC the derivatives were the TNT that blew up the world. The amounts owed by the losers were orders of magnitude higher than the underlying. While the fuse may be set for student loans and housing, today’s banks are not levered to the level in the GFC, nor does there appear to be a vast derivatives bomb in waiting.