Bernie Sanders sucks at economics
Well, you probably knew that. But seriously?
I think I’m going to set up a GoFundMe page to buy Sanders one semester of Econ 101.
9 Responses to “Bernie Sanders sucks at economics”
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October 19th, 2015 at 9:35 pm
I will contribute as long as the other presidential candidates are in the class.
October 19th, 2015 at 10:42 pm
It’s not just the interest he wants reduced, it’s the principle…all just a set-up for “free” tuition. The maximum irony would be for recipient “economics” majors to write their thesis on that.
October 20th, 2015 at 9:47 am
Bernie has been a socialist for over 50 years. He has lived through the experiences of socialist countries, from Cambodia, to China & Russia, to the EU & Greece, Venezuela & Argenitina. And he still supports socialism.
Which is to say, he is insane.
Enjoy your 15 minutes of fame, you crazy old man.
October 20th, 2015 at 11:05 am
Student loans are fully backed by the federal government. If someone defaults on the loan, the bank gets paid the full amortized amount. So your link’s assertions fall flat on their face from the start. There is NO risk for a bank to write such a loan, therefore the interest rate should be rapidly approaching zero. With a car loan, the bank repos a used car….
The reason that Sanders would be assassinated in his first day in office is that he would do the moral thing and destroy the student loan servicing industry. The servicers make big bucks with fees and penalties for not doing their jobs. For example, I recently got a letter that a student loan I had paid off was in default. Well, it hadn’t been paid off. The loan servicer had pocketed the final payment and had not closed the loan (they send no documentation without pulling teeth). I had to go through a 9 month rehab program, serviced by the loan servicer, where I paid $11 a month to the servicer to rehab at $77 balance on the loan. The default took my credit from pretty good to crackhead overnight. They tacked on $22 for “processing.” Then they sent a check to me for $77 for paying over the amount of my loan, because they “discovered an accounting error.” Net profit on me? $22. This is an anecdote, but the practices of companies like EdAmerica and Nelnet would make a Mafia don jealous.
If you think the current system is “sane,” then join Bernie Sanders in the insanity column.
October 20th, 2015 at 1:45 pm
Metulj, let me paraphrase your little note:
Student loans are back by me. When a deadbeat defaults, the middleman gets paid and I get fucked.
Since I’m getting stiffed anyway and can’t repo something that doesn’t exist, commies like you and Sanders think I should drop the pretense and just hand over the dough for free to begin with. But see, it ain’t free for me and since Bernie is gonna get croaked by Dark Forces anyway, instead of joining him at the asylum I think I’d rather join him at the graveyard.
Because if the logic and reason that you demonstrate is the result of my investment in Higher Learning, we’re all dead anyway.
October 20th, 2015 at 3:30 pm
Or, we should get the government out of the business of backing student loans.
Sounds like you should have kept better records.
October 20th, 2015 at 6:51 pm
They are not backed by you (solipsism: what Saysuncle runs on). It is backed by millions of people.
As for the keep better records quip, I had the last payment record number. Didn’t matter. The law is written to allow them to do it. All they do is “service” the payment. You, the debtor, are required to make payment.
There is NO risk for the banks. You can’t get past that.
October 20th, 2015 at 6:53 pm
PS. Since I am a college professor, I get loan forgiveness in 6 more years. Yup. The loans are just forgiven. But that doesn’t cost a cent of taxpayer money either. Why? Every dollar invested in an advanced degree by the government pays ~7 dollars back into the economy. Keep trying.
October 22nd, 2015 at 1:41 pm
Really? A college professor who couldn’t stroke a $77 check? Pull one of the other ones, it’s got bells on.