How lending money to folks with no assets, no guarantee of re-payment other than the tax payer, and the recipients of that money facing limited to no job opportunities becomes an enormous debt bubble threatening the economy. But, the President told us today that the economy is working and that he won’t deviate from what works despite the election results, current student loan bubble is estimated at $1.5-to-$2 trillion dollars with over half of that already in some form of default.
Economics and Random Thoughts 