I am convinced that many municipal, state and federal workers have no actual idea how good they have it. That is why they always seem to be complaining about their pay. Many must just be clueless. In most cases government jobs are jobs for life, benefits are far above the private sector, and pay usually is too.
It’s easy to make a pile of dough if you get it for nothing and then lend it out at interest.
We have written many times about the student debt bubble. It’s been popping for the past year or so. But things are accelerating.
It makes no sense at all that the government makes loans available to everyone who wants to go to college. Who would lend $50,000 or more to an 18 year old who has never held a job, maybe has never paid a bill, and who is interested in majoring in drama?
No one! Except the government.
And for goodness sake don’t go shopping on Thanksgiving. We should be giving thanks, not standing in line for some trinket.
Sorry kids but America had a bad month in October. Here’s a pile of debt to go with that pile of Halloween candy. Yeah enjoy the candy now. You’re not going to have much money for Tootsie Pops when you get older.
We have points of disagreement with Mr. Stockman, but generally his analysis is excellent.
So long as the dollar retains its “reserve” status we’ll continue to run the world economic show.
This should have been their centerpiece proposal during the last battle. They had the full attention of the country and could have put it to good use.
World War I.
“The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void.” – The 14th Amendment to the Constitution, Section 4