tag:blogger.com,1999:blog-8597101.post8099129086224206565..comments2024-03-25T20:06:39.794-05:00Comments on Grits for Breakfast: What do Greg Abbott, Croatia, the Roman Emperor Hadrian, ancient Hebrews, 6th century Greeks, Hammurabi, Elizabeth Warren, and Bernie Sanders all have in common?Gritsforbreakfasthttp://www.blogger.com/profile/10152152869466958902noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-8597101.post-37418579905273110452020-01-27T12:39:58.563-06:002020-01-27T12:39:58.563-06:00Not sure that applies to student loan debt, 10:07....Not sure that applies to student loan debt, 10:07. For years, education was subsidized, in Texas, UT tuition was $2 per semester hour into the 1980s. That's why past generations didn't have the same student debt problem. That's a consequence of government policy, not personal irresponsibility. <br /><br />Certainly your observation doesn't apply to abolition of driver surcharge debt in Texas, and I tend to think the benefits of ↓ criminal-justice debt outweighs the moral hazards you're worried about.Gritsforbreakfasthttps://www.blogger.com/profile/10152152869466958902noreply@blogger.comtag:blogger.com,1999:blog-8597101.post-29273544046126357862020-01-27T10:07:30.553-06:002020-01-27T10:07:30.553-06:00Wholesale debt discharge is a terrible idea unless...Wholesale debt discharge is a terrible idea unless tied to something like public service, including military service, and even then does not have the positive aspects for society as claimed by Anon 3:00. If such a program is going to be paid for by taxpayers who would have to cough up the money for erasing private debt from banks, than at very most it should be a freeze on the interest from such debts, along with notice to lending institutions and credit card companies that they need to choose who they lend to more wisely lest they get burned repeatedly moving forward. Handouts sound so swell to those who would benefit yet they amount to a government taking to the rest of the equation, and you can be assured that the same people being bailed out will be racking up more debt afterwards unless they are forced to adhere to better spending practices in the future.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8597101.post-4270347859598177572020-01-26T15:00:36.877-06:002020-01-26T15:00:36.877-06:00What happens if it DOESN'T happen? Houses and...What happens if it DOESN'T happen? Houses and cars and less important items go unbought, entrepreneurs remain bound to makework jobs at best, the mental and physical costs associated with bankruptcies and debt bondage (including suicide rates) keep climbing and adding to dollar costs paid by taxpayers. IOW, the economy keeps spiraling for all but those who lent the money and get back the interest. What happens then? The people who did pay off loans get sucked down in that spiraling economy rather than selling products to the buyers who now can participate again in the economy, which is why all the rulers much wiser and experienced than "anonymous" did these things as part of tradition recognizing its wisdom. Better economy and personal welfare for everyone or the self-righteous pleasure of feeling superior as you go down the tubes with those same derelicts as you see them? Hmm . . . . Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8597101.post-56719141277689223922020-01-26T13:01:02.763-06:002020-01-26T13:01:02.763-06:00...and then what happens? No sane person would eve......and then what happens? No sane person would ever pay back a future student loan, and no bank would make such a loan unless the principal and interest were 100% guaranteed by Uncle Sam. And if money is not unlimited, shouldn't the Government direct such a huge give away instead toward the people who really need it, i.e. arguably those who never have sniffed going to college and have no means of getting the "good paying jobs" to which the college experience / degree opens the door? This sounds much more like a gift to irresponsible middle and upper class voters...to heck with the poor people who can't spell college, let alone attend one.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8597101.post-83472172511972642252020-01-26T10:05:20.617-06:002020-01-26T10:05:20.617-06:00Thanks! I had not, but now I see his book and will...Thanks! I had not, but now I see his book and will check it out. I'd seen it referenced when researching this post.Gritsforbreakfasthttps://www.blogger.com/profile/10152152869466958902noreply@blogger.comtag:blogger.com,1999:blog-8597101.post-89392864213506718322020-01-25T19:40:52.401-06:002020-01-25T19:40:52.401-06:00Michael Hudson, if you're not familiar with hi...Michael Hudson, if you're not familiar with him, has written a LOT about this. https://michael-hudson.comGadflyhttps://www.blogger.com/profile/13075757287807731373noreply@blogger.com