Re:Medical School at $278,000 Means Even Bernanke Son Has Debt
by mindslight on Saturday April 13, 2013 @07:52PM
(#5545176)
Of course - you've got to be a True Believer to get that kind of leadership position, and he would have of course taught that to his son. These people actually believe that having any non-monthly expense able to be financed is a good thing, as it is then more "affordable", where affordable means not requiring any sort of planning or saving for the future. Of course this really just causes prices to shoot up, with positive feedback if the good can serve as collateral, which exacerbates the problem causing more people to finance. Essentially they are working to erode the utility of money itself, and revert us back to a social reputation based system where your stature in life depends on your creditworthiness and obedience to your job (stability required to make all those continuing monthly payments).
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