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Get 'em, Cubes.
Advertise
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Respond
Mark has usually been on point with his macro economic views. As most of us know, that tuition hike is pretty bad. I’m looking forward to seeing the bubble pop.
Pop like a roided teen’s pimple.
Left my headphones at home today. PGP
I cannot wait until the bubble pops!
Mark Cuban Simply Explains Why Obama Is Destroying The US Economy
Sucks for all the tards who wasted their money at second/third tier universities
What about credit card debt and debt from banks? You do not think those loans are out of control also? A credit card debt is bad, but can be paid off with bankruptcy. It is bad once the student gets out of college and cannot get a job.
Credit card debt is not “paid off” during bankruptcy. It is merely dismissed. During a bankruptcy liquidation all non essential assets are sold and the funds are used to settle debt. Most of the time it is not repaid dollar for dollar. This causes the credit card companies to recoup their loss through charging interest rates to other consumers.
You do raise an excellent point that consumer debt is “out of control”. However most consumer debt is collateralized… Student debt is not. Cuban makes reference to the real estate bubble bursting. While the lax lending practices in the student loan industry are very similar to Clinton Glass Seagull act, the key difference is the lack of collateral. It will be very interesting to see how this bubble plays out with this critical difference.
*Clinton’s Glass Steagall. Damn autocorrect