Nassim 'Black Swan' Taleb Blasts Biden's Student-Loan Bailout

The_Krakenite

The_Krakenite

“If a U.S. college degree appears to be useless, it is by design,” he said, arguing that liberal arts degrees amount to “training for upper class free men (liber) who were above having a profession.”

Taleb joins a growing chorus of both Republicans and Democrats that have panned the debt wipeout as unfair to people who sacrificed to pay off their student loans or never racked them up in the first place but now have to foot the bill for other people’s debts.

https://www.zerohedge.com/political...ced-nassim-black-swan-taleb-says-colleges-not



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But why the f*ck is the tuition so high these days? Seems like these colleges and universities are there solely to rip students off. I mean, that wouldn't be such a bad deal if the degree they offer are actually of any value. But we all know university degrees are completely worthless. Also there are way too many college graduates from too many subpar institutions, that only dilutes the entire pond.
 
schizo said:
But why the f*ck is the tuition so high these days? Seems like these colleges and universities are there solely to rip students off. I mean, that wouldn't be such a bad deal if the degree they offer are actually of any value. But we all know university degrees are completely worthless. Also there are way too many college graduates from too many subpar institutions, that only dilutes the entire pond.
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Because of all the free money and govt backed loans that you cant default on
 
schizo said:
Seems like these colleges and universities are there solely to rip students off. I mean, that wouldn't be such a bad deal if the degree they offer are actually of any value. But we all know university degrees are completely worthless.
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that’s a very strong statement, isn’t it?
 
newwurldmn said:
that’s a very strong statement, isn’t it?
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That's not a very strong statement, at all. It's reality.
Everyone is out to maximize profit, extract all the money possible they can.

The education industry certainly does this. The insurance industry does this. The healthcare industry does this. Pharmaceutical companies certainly does this.

All these services and things are terribly expensive for the common, typical, person to afford.
 
I watched the US give bailouts to those who not only didn't deserve them in the Financial crisis, but to those who actually caused it.

Looks like history repeats.

If there is one thing you can count on, it's the working-class tax payer to take the brunt every time these fiascos happen.
 
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