5 ms·
Student Loans in the US are but another generational wealth transfer where the Baby Boomers spent more than they had, mortgaged their present and future, then d
by 6stringmerc 4y ago
Student Loans in the US are but another generational wealth transfer where the Baby Boomers spent more than they had, mortgaged their present and future, then decided to make the next generations financially indentured servants.
Nobody under 40 came up with this godforsaken system.
- christophilus 4y agoStudent loans are a good example of second-order effects. The way the system is constructed, you are almost guaranteed a bubble-like ratcheting of prices even though that wasn’t the direct goal of the responsible policies.