/biz/ - Business & Finance

>>15303876

We never had this issue because people couldn't get loans for meme degrees.

If someone came to you for a loan to open a McDonalds you would consider it since you know they make money right?

If someone came to you for a loan to make an ice cream flavored as shit would you give them may money? No because you know you'd be unlikely to get your money back.

The USA started to pass laws saying lenders HAD to lend money to everyone (education for all) but they can't force lenders to lend money when they know they have. 90% chance to lose it so what did they do?

The IRS said they will pay the loans if they default, now the IRS has to collect the money and what happens if you don't pay? Well they made sure they can always collect it till death because at the end of the day they know most of these loans will default.

Moral of the story? The government tries to secure college for everyone and ends up commiting everyone to a life of debt and lowers the wages of college degrees because of there being a larger supply of graduates causing businesses to hire over seas.

It's really quite comical, by design government intervention always fails because it tries to force an opposite, an unnatural.. you can't bend reality, you can't make a deformed dog breed, itl create a race of retards.

Cosmic debt always catches up.

Is economics a meme degree?