Powell Promises Pain, Markets Deliver – Ep 836
The Peter Schiff Show Podcast
00:00
The Moral Hazard of Borrowing Money
Bide administration is encouraging people who pursue degrees in the lowest paid occupations to borrow the most amount of money. If you're going to college to prepare yourself for a job that doesn't have a lot of pay, well it doesn't matter how much you borrow. You'll borrow whatever you can, because you're not really going to have to pay it back. People who know that they're going to have low incomes are incentivi to borrow as much as possible. These repayment plans make the income based debt completely irrelevant.
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