moral hazard

[JohnRoberts]

Moral hazard
In economics, a moral hazard is a situation where an economic actor has an incentive to increase its exposure to risk because it does not bear the full costs of that risk.

Does anybody think that forgiving student loan debt will not create the expectation that future student loans will likewise be forgiven?
===
I see a parallel with past illegal immigration amnesty. After seeing previous illegal immigrants being given a free pass, more decided to come.

Since then this has gone completely off the rails

Of course opinions vary...

JR

 

[Tubetec]

Writings on the wall , its like fighting an incomming tide ,resist all you want , its a by product of our wars and our propaganda that people want to come to a better life , its no different here , suck it up butter cups

Stings a bit sometimes the truth don't it?

 

[Tubetec]

Mops up those tears boys ,
My informed guess is a little outbreeding will in fact do us good in the long run ,
Look what the monarchies did to each other from inbreedeing/incest/institutionalised sexual abuse .

We didnt have kings and queens of Ireland (apart from subserviance to the crown of England) for many many generations , they say Brain boru was the last true high king of Ireland . Once known as the land of 1000 kings, rule of law ( or what came before it ) varied from place to place (maybe it still does to a certain extent)
In battle the usual thing once the dirty work was over , you carted off the ladies of high breeding , held them hostage for a while and tried to marry them off to your best men. Often bridges were rebuilt this way between rival clans .

 

[Tubetec]

 

[living sounds]

If only...

https://www.vanityfair.com/news/2022/08/white-house-twitter-joe-biden-student-loans

https://www.nytimes.com/2022/08/26/us/white-house-twitter-ppp-loans.html

 

[living sounds]

BTW, I tend to kind of agree with the general criticism of this watering can procedure.

But I wonder why the focus is always on stuff like this instead of the hundreds of times huge sums have been wasted by Republicans, e.g. to subsidize bad businesses, bail out banks, unncessary tax cuts, for profit wars etc... what about displaying that beautiful, beautiful outrage when these things happen?

 

[Tubetec]

The beatings will have to continue until moral improves

 

[Matador]

Does anybody think that forgiving student loan debt will not create the expectation that future student loans will likewise be forgiven?

No?

Maybe we'll join the rest of the civilized world, come together, and start offering tuition free colle...HAHAHAHHAHAHAHAHAHAHA I swear I almost made it through the sentence.

Even Vladimir Fucking Putin isn't so degenerate as to saddle his citizens with student loan debt.

 

[user 37518]

Since I am not a US citizen I don't have a voice in the matter, but what I see, is that from one perspective, those who live in extreme near poverty will experience relief, but also those who went to Harvard to become politicians will have it too easy, in either case, the citizens will pay for the good or bad decisions of others. On the other hand, if the US had state funded universities that would be different than just forgiving the debt.

 

[Tubetec]

The good ole boys want to maintain their exclusivity to club f**k, that shit goes on all over.
has since the notion of law came into existance

 

[Matador]

Since I am not a US citizen I don't have a voice in the matter, but what I see, is that from one perspective, those who live in extreme near poverty will experience relief, but also those who went to Harvard to become politicians will have it too easy, in either case, the citizens will pay for the good or bad decisions of others. On the other hand, if the US had state funded universities that would be different than just forgiving the debt.

Given relief is means tested (I can't find the exact figure, but I think it was around $125k salary) most of the benefits will go to lower income earners. It will not stop the 'Taxation is Theft" crowd from crowing on and on about how they don't want to help pay for someone else.

 

[john12ax7]

White House twitter has uped their game.

I'm not a fan of bailout in general. But it's hilarious the disparity in objections by people. Bankers crash the financial system, it's ok here's a boatload of money to start over. Tons of PPP money going to people who don't need it, no problem it's forgiven. 10k to a college student, bring on the outrage!!

 

[john12ax7]

But I wonder why the focus is always on stuff like this instead of the hundreds of times huge sums have been wasted by Republicans,

It's not just the Rs. Some of most damaging things to the working class have been the financial crisis bailouts and the recent covid ppp loans and fed money printing. By and large both parties were complicit in them. It's not a D vs R issue.

 

[Tubetec]

Its a systemic issue
go on blaming the other side all you want , it'll prolong the agony
edit ,cheers John

 

[AnalogPackrat]

Smaller government leads to less waste. I hated the unjustified Cheney Iraq invasion. "Too big to fail" was total BS and those massive bailouts were bipartisan. Solyndra was a bad joke. PPP was crap and would not have been necessary had the Covid response been properly managed (lock downs lifted after a few weeks, no bullshit "essential business" preferential treatment, focus on prophylactic treatment over "wait until you're on death's door to seek help," and not closing schools for over a year). There's no such thing as an "unnecessary tax cut" but there are definitely unnecessary taxes.

 

[boji]

Targeted loan forgiveness will cause greater problems of disparity, created by those who are the most conscientious with money.
Class issues can't be fixed by a federal govt's temporary political position; any federal act that increases outgroup animosity as a way to maintain ingroup allegiance is a failed policy.

 

[Tubetec]

The man behind the curtains agenda continues no matter what puppets we put in power ,
Good to hear from you Boji,

edited

 

[JohnRoberts]

Thanks for all the thoughtful comments...

At least you didn't call me a semi-fascist (yet).

JR

 

[Matador]

any federal act that increases outgroup animosity as a way to maintain ingroup allegiance is a failed policy

 

[PermO]

Why are these people on the tracks ?