Hudson on the E in FIRE

[don]

Michael Hudson

[Verrocchio]

Re: Hudson on the E in FIRE

Recommended.

Hudson sees the root cause of the student debt as the financialization of higher education and describes how this affects the national economy.

It's not the economy, stupid; it's the banks!

[wayiwalk]

Re: Hudson on the E in FIRE

Very well done.

[gwynedd1]

Re: Hudson on the E in FIRE

Two students want a seat in an auditorium. They get into a fist fight over it and fight to a stand still on round one.
An arms dealer goes to one and sells one a knife. He then tells the other one that the other bought a knife and sells him one.
In round two they slice each other up.
The arms dealer then offers them swords for round three, and pistols for round four......


Does not matter which weapon wins because, in the end, only one student will get the seat especially in medical school since that market is controlled. The seat is not won by the best student, but only the one most willing to injure themselves with debt.

[don]

Re: Hudson on the E in FIRE

the proclamation "we're in it for the money" along with the high end, non-academic, property/business investments, told much of the tale.