I happened to read a statement today that said student loans were the top asset of the U.S.Government after land and people. If there was ever a time when the the old saying about the emperor having no clothes could be said, this might be that time! Our government has no real assets (clothes)!! Trust me, I know that bookkeeping systems classify money owed to you as money that should eventually come in on the positive side of the ledger. But the keywords here are "should" and "eventually." First, who in their right mind would structure their budget and base their hopes for a secure future on such massive debt? Second, what system would base their future on massive debts owed to them by people who cannot pay because that same system has not made a single decision to benefit those people in years???
Comments
Barbara Rheinhardt
Thanks for putting this so succinctly! Nothing our government is doing is sustainable. We all need to open our eyes.
January 01, 2019
John Britton
I’ve heard this said as well, and that auto loans are the only thing that keeps banks solvent.
July 27, 2017
Penny Kelly
Ouch! That is rather frightening! Especially in light of the new banking rules that allow banks to confiscate our money if they become insolvent!!
July 27, 2017
Bethanie Leah Burke Green
I knew of this but hadn’t quite “connected the dots.” Thank you for this simple formula that clears away another layer of mental density/fog…
July 27, 2017
Penny Kelly
You’re welcome! And thanks for the feedback!!
July 27, 2017
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