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"...but it has not hurt the economy..." Really? When people are burdened with mortgage-sized unsecured debt, they spend much less. It places enormous downward
by themartorana 12y ago
"...but it has not hurt the economy..."
Really? When people are burdened with mortgage-sized unsecured debt, they spend much less. It places enormous downward pressure on the economy.
http://www.pbs.org/newshour/bb/business-jan-june12-studentloans_05-30/ http://www.pbs.org/newshour/bb/business-jan-june12-studentlo...
- adventured 12y agoLittle question it's removing growth from the economy. The US Government is printing immense profits from the student loan racket presently. $600 billion in new debt has been added to the government's pool of that in just the last six years. That $600 billion just for those six years alone, will probably end up costing over a trillion dollars with interest. That's capital no longer available for production or consumption.