{"id":41938,"date":"2014-02-20T05:46:12","date_gmt":"2014-02-20T11:46:12","guid":{"rendered":"http:\/\/www.shotinthedark.info\/wp\/?p=41938"},"modified":"2014-02-20T07:46:51","modified_gmt":"2014-02-20T13:46:51","slug":"economic-whack-a-mole","status":"publish","type":"post","link":"http:\/\/www.shotinthedark.info\/wp\/?p=41938","title":{"rendered":"Economic Whack-A-Mole"},"content":{"rendered":"

Joe Doakes from Como Park emails:<\/p>\n

Liberal rag Washington Post finally notices that student loans prevent young people\u00a0from buying a home<\/a>.\u00a0 And it\u2019s getting worse as home prices are starting to climb in some areas.\u00a0 Holy Study Hall, Batman: debt is Bad!<\/p>\n

Geez, ya think?\u00a0 It all comes back to the Instapundit\u2019s observation on\u00a0<\/span>middle class markers<\/a>. That\u2019s the mentality that got us into this mess.<\/span><\/p>\n

Middle class people need decent jobs.\u00a0 Decent jobs require college degrees.\u00a0 College is expensive so government gives out student loans to help people achieve the middle class marker of having a college degree to get a decent job.\u00a0 Makes sense, right?<\/span><\/p>\n

Middle class people own their own homes.\u00a0 Homes are expensive so government guarantees home loans to help people achieve the middle class marker of owning a home.\u00a0 Seems reasonable, doesn\u2019t it?<\/span><\/p>\n

Everything sounds great until we realize that student loan debt makes students ineligible for guaranteed home loans.\u00a0 Worse, we can\u2019t give debt relief to students because the profits from student loan interest payments are pledged to pay for Obama-care — we need the money from Peter\u2019s student loans to pay Paul\u2019s health insurance premiums.<\/span><\/p>\n

Wouldn\u2019t be so bad if homes were more affordable except the reason home prices are high is the Fed is pumping $60 Billion Per Month into the banking economy to shore up home prices so existing homeowners feel like we\u2019re in a recovery, thus freezing out future generations from buying.<\/span><\/p>\n

Do you ever wonder what would happen if we just stopped?\u00a0 Just . . . stopped?<\/span><\/p>\n

Stop subsidizing student loans.\u00a0 What would happen?\u00a0 Colleges would restructure themselves to become affordable.<\/span><\/p>\n

Stop subsidizing banks.\u00a0 What would happen?\u00a0 Banks would adopt sensible banking practices to stay afloat.<\/span><\/p>\n

Stop propping up home prices.\u00a0 What would happen?\u00a0 Home prices would collapse now so our children can afford to buy them (you and I are hosed already, we\u2019ll never see prices return to save us).<\/span><\/p>\n

Stop propping up any sector of the economy, just let everyone sort it out themselves.\u00a0 Could it truly be any worse than what we have now?<\/span><\/p>\n

Joe Doakes<\/span><\/p><\/blockquote>\n

That which can’t be sustained, won’t. That which can’t be sustained but is by brute government force, will – until the money runs out.<\/p>\n

And it’s gonna run out.<\/p>\n","protected":false},"excerpt":{"rendered":"

Joe Doakes from Como Park emails: Liberal rag Washington Post finally notices that student loans prevent young people\u00a0from buying a home.\u00a0 And it\u2019s getting worse as home prices are starting to climb in some areas.\u00a0 Holy Study Hall, Batman: debt is Bad! Geez, ya think?\u00a0 It all comes back to the Instapundit\u2019s observation on\u00a0middle class […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57,69],"tags":[],"class_list":["post-41938","post","type-post","status-publish","format-standard","hentry","category-economy-and-the-market","category-socialism"],"_links":{"self":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/41938","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41938"}],"version-history":[{"count":4,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/41938\/revisions"}],"predecessor-version":[{"id":41942,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/41938\/revisions\/41942"}],"wp:attachment":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41938"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}