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The Problem with Student Loan, Medical and Any Type of Forgiveness!
Manage episode 418216624 series 3524376
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Hey SatsCrew,
Things are getting interesting as it comes to the Biden administration and loans. The socialist and democratic party seems to be trying to bribe the populace into voting for them, by forgiving loans and other debts.
While I can go on and on about the problems our society faces as it comes to how we have gotten into this mess, I can assure you one of the worst ways out of this mess is through government intervention. Paying off these loans will further divide our society as it can create a huge moral hazard, and there are a lot of logistical details that would need to be addressed. In this podcast specifically, I go over the following important topics:
- Moral hazard
- Setting the wrong precedent
- Higher taxes for the lower, and middle class
- People intentionally taking advantage of the system
- What is the solution to this problem?
- No government intervention in healthcare
- No government intervention in education
- No government guarantees
- Current problem, is things are artificially propped up because of all of these guarantees
- We need a system where we get rid of the bureaucracy and red tape and allow the free market
- We need deflationary money like Bitcoin so things get cheaper over time and not more expensive
I'd love to hear your thoughts on loan forgiveness! While I tend to be a bit more hesitant on this, I am for equity & equality as it comes to finance. If we just forgive all loans, then anybody can get anything they want in life and it will turn our system upside down.
I hope you all enjoyed this one!
Best Regards,
SatsMate
Bitcoin Buys: https://invite.strike.me/2MSTYG
Financial Disclaimer: Nothing stated in this video is a recommendation from SatsMate to buy or sell a particular security or asset class. It would help if you wisely considered your tolerance for risk, time horizon, and financial goals before making an investment. With investing, you risk losing money, always read an investment prospectus and make an informed decision before allocating capital to a particular investment
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