back to school
Is Education the next bubble? Tuition's increasing to obscene levels as more and more people are convinced it's a good idea to get an education. It's part of 'the American Dream' that used to include home ownership. Just as home prices inflated beyond the reach of the demand that was created for them, so is the price of an education. During the housing crisis, that was remedied through the indiscriminate distribution of credit (see subprime mortgages). Today, student loan debt has wholly eclipsed the entirety of credit card debt in this country. I see nothing but for-profit education ads on the subway these days that of course offer Financial Aid. 'The economy's so bad' they say, 'you need an advanced education to survive.' What's frightening, though, is that they seem to be right. So, Hello from inside the bubble! I'll seeya in class!