It is implicitly true. There used to be an informal social contract that the dollar had value, that the government would protect this value, and that there woul

It is implicitly true. There used to be an informal social contract that the dollar had value, that the government would protect this value, and that there would be a free market that would provide a time value of money. Governments, businesses, individuals and reckless borrowers of all stripes - not just students - have been massively rewarded by our current policies from both the left and the right where there is no longer accountability. We make money free so the market doesn't crash. This is so sad and leads to the cynicism and distrust so many of us have towards our institutions today.