Wednesday, October 5, 2011

Leverage and Bad Money

There is no point in me restating what has already been said with utter clarity and brevity -- read Denninger's "OWS:  Want to Turn the Tide?" on the Ticker.

Denninger's explanation of the student loan program and the rising cost of college is perfect.  I wish everyone in America would read it.  Some eyes might open.  Just meditate upon this thought:

But that we can do a thing on a technical basis doesn't mean we can afford to do that thing.  We can put a man on the moon, but we can't afford for everyone to take that flight. 
Write this on your wall.  Write it in the dust on the back of an truck.  Get a bumper-sticker printed with this on it.  Tell it to everyone you know who thinks that government money does not come out of the pockets of workers and employers at the point of a gun.  Maybe, just maybe, a few people will start to get it.

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