Just One More Reason For the Crappy U.S. Economy

Written by Steven Hansen This past week saw the release  of consumer credit data for May. At first I was surprised by the significant difference between the adjusted and unadjusted data. The adjusted data was suggesting consumer credit growth was accelerating; The unadjusted data was consumer credit growth was slightly decelerating for the last 3 …

Student Loans Destroying Consumption

Written by Steven Hansen Over the long Christmas Holiday weekend, The New York Times published For Poor, Leap to College Often Ends in a Hard Fall.  The post is a anecdotal essay correlating being poor and the inability of those who are poor to become higher educated.  This post shows how easy it was for …

Bad Education

The Project On Student Debt estimates that the average college senior in 2009 graduated with $24,000 in outstanding loans. Last August, student loans surpassed credit cards as the nation’s single largest source of debt, edging ever closer to $1 trillion. Yet for all the moralizing about American consumer debt by both parties, no one dares call higher education a bad investment. The nearly axiomatic good of a university degree in American society has allowed a higher education bubble to expand to the point of bursting.