Nick Gillespie over at reason.com brings us this (accurate, in my opinion) prediction of the forthcoming bursting of the education bubble. This bubble has been growing festering for a good long while now with help, in no small part, from federal loan guarantees which are purported to help make college affordable, and not at all designed to drive business to the same banks which will soon be lobbying for another bailout (*wink*wink*). These education loan guarantees are very similar (read: a carbon copy) to those which fueled the housing bubble, and the resulting bust market correction that we are seeing today.
When the education market does correct itself within the next couple of years, who are the politicians going to blame this time? Greedy banks? Greedy schools? Boobs?
How many of those politicians will have no idea who to blame? How many of those hapless politicians didn't know who to blame the last time a market melted down?
Should we continue to believe that they claim themselves to be innocent bystanders...
