In a recent poll, two-thirds of recent U.S. college graduates said they would consider higher education in the United States to be a ripoff. In the “Game of Loans” also know as the student debt bubble, a balloon of trillions of dollars, directly backed by the American taxpayer, is at serious risk of never being paid back. Quite the contrary even: Some are guaranteed to be a loss! As student debt forgiveness programs are refinancing existing college debts to smaller student owed portions, taxpayer losses are expected run into the tens and probably hundreds of billions of dollars.
It wouldn’t be a surprise if this kind of economic bubble brought down the entire international derivative system in one fell swoop. And all to ensure that the millennial generation was not deprived of the fictitious right to a secondary education. You’d think we’d learned our lesson with the 2008 housing crisis, but it seems that Americans’ appetite is insatiable for unaffordable assets, especially when they’re marketed to be as sacred as John Locke’s natural rights.
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