What were the arguments against student loans being a private enterprise? Seems to me that having the private sector entities in debt for supposed worker skill increase means the private sector has some stake in outcomes, costs, etc. Turning the lender of last resort into the only lender looks like one huge mistake.
You can thank Obama for this. He federalized all student loans back in 2010.
But it wasn’t a mistake from a leftist’s POV. It was the goal.
Not unlike Obamacare where the goal was to get a stepping stone to single payer, by making health insurance ever more expensive - for both the consumer and for the government (front loading the taxes, backloading the costs).
I usually like to find the thing I disagree with when reading my favorite Substack authors; life’s more interesting when we disagree, and it’s how we learn.
But this piece was straight fire, with so many good points succinctly argued.
“OK, sure—maybe for critical minerals or defense tech. But otherwise, when did China win this debate about how to grow an economy?”
“First, the government does not need a stake in AI companies. It already has one; it is called future tax revenues.”
“The board is required to consider the costs landlords face, and it did not, for political reasons. It also shows the DSA is not moderating: they do indeed have power and are serious about implementing their extreme policies, and they have no interest whatsoever in evidence or history.” [My note: when leftists say they are going to do something, we should believe them.]
But hey Allison, on the bright side your city is about to send to Congress a woman who favors the “total eradication of Western civilization”, so there’s that.
how about a 90 day fiancé kind of thing. We'll take their depressed kids and teach them about crypto and we can send them Zoran's legions to see life in the great socialist paradise. I don't think we'll trade back though.
Allison, are you telling me that government (i.e., force) distorts incentives? I am shocked, shocked! Not that I disagree with you on anything. The Chinese aren't having children either.
As my marketing professor said 30 years ago, "Failure to sue is a fire-able offense." I believe the CEO of Ma Bell said the choice was regulation or break-up, turned out to be both. Joe Kennedy Sr, "At least they let me keep half." Another good one, "Keep your government hands off my social security check." And my own, "Buying souls for 20 cents on the dollar."
There is nothing more evil than government, except possibly pure anarchy, and Leviathan slipped its leash in 1937 when SCOTUS folded. SCOTUS is now fighting back, better late than never. Inflation is the only way out unless the Baby Boomers are prohibited from voting.
Viewed as an entity that's taking action (ignoring the shareholding structure), a corporation and a socialist economy are the same thing. They're generally pretty good at setting out a metric to optimize for and optimizing it. The CCP (inadvertently or advertently) adopts the structure of a well-managed conglomerate (think Berkshire's operating businesses or maybe Amazon) where HQ sets general targets and gets out of the way (this is a very scalable approach!). CEOs basically see themselves in the CCP and "game appreciates game".
This focus on optimizing a metric is also what machine-learning and AI is all about (LLMs even throw in linear algebra, much of which was developed for socialist calculation a century ago...).
Optimizing a metric works until it's discovered that the metric is wrong.
Corporations as authoritarian entities works because individual corporations compete with each other in various markets and can lose customers and go broke. Countries do not; they are territorial and cannot share and compete for customers like businesses do.
WE DRANK WATER FROM A HOSE, AND WE LIKED IT!
What were the arguments against student loans being a private enterprise? Seems to me that having the private sector entities in debt for supposed worker skill increase means the private sector has some stake in outcomes, costs, etc. Turning the lender of last resort into the only lender looks like one huge mistake.
You can thank Obama for this. He federalized all student loans back in 2010.
But it wasn’t a mistake from a leftist’s POV. It was the goal.
Not unlike Obamacare where the goal was to get a stepping stone to single payer, by making health insurance ever more expensive - for both the consumer and for the government (front loading the taxes, backloading the costs).
I usually like to find the thing I disagree with when reading my favorite Substack authors; life’s more interesting when we disagree, and it’s how we learn.
But this piece was straight fire, with so many good points succinctly argued.
“OK, sure—maybe for critical minerals or defense tech. But otherwise, when did China win this debate about how to grow an economy?”
“First, the government does not need a stake in AI companies. It already has one; it is called future tax revenues.”
“The board is required to consider the costs landlords face, and it did not, for political reasons. It also shows the DSA is not moderating: they do indeed have power and are serious about implementing their extreme policies, and they have no interest whatsoever in evidence or history.” [My note: when leftists say they are going to do something, we should believe them.]
But hey Allison, on the bright side your city is about to send to Congress a woman who favors the “total eradication of Western civilization”, so there’s that.
how about a 90 day fiancé kind of thing. We'll take their depressed kids and teach them about crypto and we can send them Zoran's legions to see life in the great socialist paradise. I don't think we'll trade back though.
Increased longevity is indeed a financial risk both for there individual and for society as well.
Allison, are you telling me that government (i.e., force) distorts incentives? I am shocked, shocked! Not that I disagree with you on anything. The Chinese aren't having children either.
As my marketing professor said 30 years ago, "Failure to sue is a fire-able offense." I believe the CEO of Ma Bell said the choice was regulation or break-up, turned out to be both. Joe Kennedy Sr, "At least they let me keep half." Another good one, "Keep your government hands off my social security check." And my own, "Buying souls for 20 cents on the dollar."
There is nothing more evil than government, except possibly pure anarchy, and Leviathan slipped its leash in 1937 when SCOTUS folded. SCOTUS is now fighting back, better late than never. Inflation is the only way out unless the Baby Boomers are prohibited from voting.
Viewed as an entity that's taking action (ignoring the shareholding structure), a corporation and a socialist economy are the same thing. They're generally pretty good at setting out a metric to optimize for and optimizing it. The CCP (inadvertently or advertently) adopts the structure of a well-managed conglomerate (think Berkshire's operating businesses or maybe Amazon) where HQ sets general targets and gets out of the way (this is a very scalable approach!). CEOs basically see themselves in the CCP and "game appreciates game".
This focus on optimizing a metric is also what machine-learning and AI is all about (LLMs even throw in linear algebra, much of which was developed for socialist calculation a century ago...).
Optimizing a metric works until it's discovered that the metric is wrong.
Corporations as authoritarian entities works because individual corporations compete with each other in various markets and can lose customers and go broke. Countries do not; they are territorial and cannot share and compete for customers like businesses do.