by Tyler Durden
Curious
why distinguished, Nobel-prize winning economics professors (most of
whom have their own Op-Ed columns and blogs to fill all that free time
they have when they are not actually filling impressionable minds with "
this time the model will work" ideas, keeping
Solitaireoffice
hours or coming up with arcane, meaningless equations to explain human
behavior) have gone "all in" to defend a system which promotes the
ubiquity of cheap credit, and the creation of a generation of
nondischargeable debt slaves? Because if it wasn't for said cheap,
ubiquitous debt, their salaries would be utterly unsustainable (and for
once austerity would hit the academic ivory tower headquarters of
Keynesianism located in Cambridge, New Haven and West Philadelphia). And
for this they have to thank an economic system they created which is
now disintegrating before their eyes, and in which every incremental
dollar of systemic debt raises total disposable income per capita by
less and less and less.
http://www.zerohedge.com/news/2012-10-01/chart-day-college-tuition-vs-real-disposable-income
Posts
No comments:
Post a Comment