Peter Schiff: Somebody Has To Pay For Student Loan Forgiveness

[The_Krakenite]

Schiff said it won’t likely be a one-time thing. This will create a moral hazard.

If they do it once, they’re going to do it again. Everyone is going to expect it... The moral hazard there is nobody is going to pay for college. Nobody is going to work to try to avoid going into debt because you’re an idiot. Take on the debt! It’s going to be forgiven.”

https://www.zerohedge.com/personal-finance/peter-schiff-somebody-has-pay-student-loan-forgiveness

 

[Overnight]

Schiff said it won’t likely be a one-time thing. This will create a moral hazard.

If they do it once, they’re going to do it again. Everyone is going to expect it... The moral hazard there is nobody is going to pay for college. Nobody is going to work to try to avoid going into debt because you’re an idiot. Take on the debt! It’s going to be forgiven.”

https://www.zerohedge.com/personal-finance/peter-schiff-somebody-has-pay-student-loan-forgiveness

Yep. Someone needs to pay for all that suffering these college grads are going though. Because every job in America these days requires a college degree.

 

[VicBee]

2 points:
1. Already clearly addressed by the general media, the republican hypocrisy knows no limits. So many of those screaming fkrs defaulted on their PPP loans, it's become a meme, the same fkrs who railed against those loans but took them anyway and never paid them back...

2. Yes, education should be free, like it is in every modern nations around the world. Republican Reagan ended free education because he disliked and feared educated masses, like those who protested the Vietnam war. The Republican party spent half a century belittling education as a luxury of the rich, an elitist endeavor, all the while sending their kids to private schools and colleges along the way.
I get it, it's much cheaper to brain drain the world of their smart students by subsidizing their studies in our universities than it is to provide free education to our own citizens. I have a simple solution, cut 10% of our military budget and assign it to free education in public universities; that would be plenty enough.

 

[ktm]

Schiff said it won’t likely be a one-time thing. This will create a moral hazard.

If they do it once, they’re going to do it again. Everyone is going to expect it... The moral hazard there is nobody is going to pay for college. Nobody is going to work to try to avoid going into debt because you’re an idiot. Take on the debt! It’s going to be forgiven.”

https://www.zerohedge.com/personal-finance/peter-schiff-somebody-has-pay-student-loan-forgiveness

You will never get liberals to understand basic economics. When they hear "free", they believe that it doesn't cost anything to anyone anywhere for any reason, and it's the greatest thing since climate change.

 

[The_Krakenite]

Reaganomics is interesting to study. Up to his point in time, it was generally desirable for presidents to try to minimize spending and to keep things in check and balanced, etc. Then Reagan comes along, and blew up the debt so high that even today it has never been fully paid off.

Think about that for a minute, and also realize that not even a penny from the financial crisis bailout has been paid back, which JPow talked about two years ago. He tried to save face by saying that the plan is to minimize that debt through inflation, and not pay it off.

You see, the government really does find ways to get free-lunches!

So I guess what happened with the whole covid spending recently is... not a big deal. Right guys?

 

[Overnight]

You will never get liberals to understand basic economics. When they hear "free", they believe that it doesn't cost anything to anyone anywhere for any reason, and it's the greatest thing since climate change.

The kiwis know the value of free! Mostly.

 

[DaveV]

You will never get liberals to understand basic economics. When they hear "free", they believe that it doesn't cost anything to anyone anywhere for any reason ...

s

You mean like tax cuts pay for themselves?

 

[easymon1]

Schiff said it won’t likely be a one-time thing. This will create a moral hazard.

If they do it once, they’re going to do it again. Everyone is going to expect it... The moral hazard there is nobody is going to pay for college. Nobody is going to work to try to avoid going into debt because you’re an idiot. Take on the debt! It’s going to be forgiven.”

https://www.zerohedge.com/personal-finance/peter-schiff-somebody-has-pay-student-loan-forgiveness

Whatever you do don't do this. That would require y'all to get up off y'ass. Wouldn't wanna do that.
What if they will just laugh on you and fart in your general direction? lol. Wouldn't you be
embarassed? Tell Biff and Judy they're on the hook next and to make a note
for their kids too. They gonna think that the adults after year 2000 are just peachy keen swell for the legacy. Enjoy.
Relax.

Pay up chump and Relax... don't touch that dial...

https://www.usa.gov/elected-officials
How to Contact Your Elected Officials
https://www.usa.gov/elected-officials

 

[guest_trader_1]

This is why you don't let corporations make a business out of basic needs like healthcare, energy, real state and education.

When people confront the abuse they don't do it peacefully, they race against the system with anger. And it is well deserved. Go Americans, quit your jobs and debts until they stop the abuse.

 

[MKTrader]

2 points:
1. Already clearly addressed by the general media, the republican hypocrisy knows no limits. So many of those screaming fkrs defaulted on their PPP loans, it's become a meme, the same fkrs who railed against those loans but took them anyway and never paid them back...

2. Yes, education should be free, like it is in every modern nations around the world. Republican Reagan ended free education because he disliked and feared educated masses, like those who protested the Vietnam war. The Republican party spent half a century belittling education as a luxury of the rich, an elitist endeavor, all the while sending their kids to private schools and colleges along the way.
I get it, it's much cheaper to brain drain the world of their smart students by subsidizing their studies in our universities than it is to provide free education to our own citizens. I have a simple solution, cut 10% of our military budget and assign it to free education in public universities; that would be plenty enough.

All you've proven is that you're an incredibly brainwashed sheep who can't have an independent thought outside the MSM matrix. PPP loans were for businesses who were forced to shut down and affected heavily by government lockdowns. I know plenty of people who own (and is some cases lost) them. Some 21-year old, green-haired dweeb who gets a "Queer Eastern Asian Women Studies" degree and expects loan forgiveness isn't remotely comparable. Apples and oranges. Classic false analogy. As usual, the "general media" only fool those who got programmed in near-worthless gov't schools. Your second paragraph is related and equally inane. At least some basic reading comprehension and logical fallacies before vomiting stuff like that out of your keyboard.