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Tuesday, June 10, 2014

Why student loans are evil beyond measure

College loans make family formation less affordable

Sailer knocks another one out of the park:
The current system is a machine for creating Democratic voters. But Republican politicians have been bought off by its semi-privatized nature, which creates a lot of for-profit opportunities for firms employing Republican lobbyists. The solution is perhaps to let the Democrats de-privatize the system, and then the Republicans can oppose it on general principles.

As the economists are fond of saying, incentives matter. If you want a future-oriented, fiscally prudent, stable populace, in short, a conservative populace, you have to increase the incentives for being conservative. Men have to earn money in order to to carve out a little slice of land for themselves, attract a wife, and start a family. Ergo, keep land cheap and wages high. Eschew credentialism in favor of meritocracy.

On crucial policy issues, for Republicans (the nominal "conservative" party) the way forward is clear. Immigration needs to be sharply reduced to boost worker wages and reduce demand for land and public goods. Taxes on business entities need to be reduced if not eliminated as business taxes are ultimately regressive. Unstack the deck in favor of large, publicly traded corporations by reducing the regulatory burden and tell them to figure out their own ways to protect "intellectual property."

Specific to this topic, the Republicans should outbid Obama on the student loan issue. As Vox Popoli points out, the Obama plan to reduce student loan payments is just a stopgap to make valueless assets appear valuable. But for central bank intervention, these loans would never be extended much less collected. Make student loans dischargeable in bankruptcy. Dissolve Sallie Mae and flat out tell the Fed they can no longer print money to buy student loans. Two-thirds of colleges and their atrocious Departments of Cultural Marxism vanish overnight.

This should be pretty obvious to any thinking person. If you hit your prime marrying years $50K in debt acquiring a credential that signals nothing more than that you are reasonably intelligent and focused, you are obviously less attractive to prospective mates. The hottest date around at that point is Uncle Sugar. Likewise, if you open the borders, all you do is put your citizens in a race-to-the-bottom with the global poor for wages and the global rich for housing, and provide a big, fat raison d'etre for the national security state.

Instead, student loans are trumpeted as a purported "free market" solution to the pseudo-problem of the fact that a minority of people get a bachelor's degree. Immigration becomes recast as freedom of contract rather than privatizing profits and socializing costs. Bought-and-sold Republicans are naturally unable to articulate a single principled reason to oppose both.

The easiest conclusion is that the Republicans are not actually a conservative party but the party of certain non-Democrat moneyed interests. If anybody has another explanation, I'm all ears. I will also give a courteous and completely skeptical hearing to the claim that Democrats are actual economic populists.

8 comments:

Michael said...

@AG: "The easiest conclusion is that the Republicans are not actually a conservative party but the party of certain non-Democrat moneyed interests. If anybody has another explanation, I'm all ears. I will also consider any thesis that the Democrats are actually the populist party."

I see that you have missed the memo. America is not a democracy, nor even a representative republic, nor has it ever been so.

It is, and always has been, a plutocracy:

http://cluborlov.blogspot.com/2014/05/moneybag-logic.html
https://www.princeton.edu/~mgilens/Gilens%20homepage%20materials/Gilens%20and%20Page/Gilens%20and%20Page%202014-Testing%20Theories%203-7-14.pdf
http://talkingpointsmemo.com/dc/princeton-scholar-demise-of-democracy-america-tpm-interview

I think you need to revise the Rassenwissen which animates your blog. Houston Stewart Chamberlain, Alfred Rosenberg, Joerg Lanz von Liebenfels and Rudolf von Sebottendorf were all off the mark. Your pseudo-scientific division of the human species into "K-selected" versus "R-selected" subspecies is no more scientifically valid than the Welteislehre of Hans Hoerbiger.

There is exactly one, and only one, race war which has ever mattered in the history of humanity. That is the war between natural born psychopaths (of whatever nation and skin color) and the human race (of whatever nation and skin color).

There is a wealth of scientific literature which explains psychopathy. From the books of psychiatrist Robert Hare, to Dr. Martha Stout's The Sociopath Next Door, the late Dr. Hervey Cleckley's The Mask of Sanity, and through to Political Ponerology by Dr. Andrew Lobaczewski, this topic has been documented and researched to death.

The "1 percent" are not WASP's, Jews, Freemasons or what-have-you. The are psychopaths. That is their common bond, among themselves, and against the rest of us.

Please do your homework and get up to speed on this subject, before you post any more shabby, pseudo-scientific, Rassenwissen nonsense. The "enemy" is not the illegal immigrant (who never wanted to come across the border in the first place!). The enemy is the psychopathic class of plutocrats who have orchestrated this whole business in the first place, and who destroyed the home economies of the illegal immigrants in the first instance.

The Anti-Gnostic said...

You are right, so far as it goes: the immigrant is not the enemy. He just is who he is. The enemy is the political and financial elite with transnational loyalties. But he is no ally either, and is fed a steady diet of entitlement and hate for the white ethnic majority.

SFG said...

"The easiest conclusion is that the Republicans are not actually a conservative party but the party of certain non-Democrat moneyed interests."

Oh, liberals have known that for a *while*. ;)

Realistically, there's the coastal money party and the heartland money party. The coastal money party spends its time fighting for transgender rights. The heartland money party spends its time fighting for rich people to keep more of their money.

BnG said...

The Republican Party is hopeless and must be completely destroyed before a true conservative populist party can take center stage. The defeat of Cantor last night is proof that this is a realistic goal; people are furious with the GOP monied interests and would be willing to accept alternatives once the two party stranglehold on politics is broken.

IA said...

I think you are attracting supporters of the $outhern Poverty Law Center. Which is neither southern, poor, nor ruled by law.

Bert said...

Anti-Gnostic, I'd like to hear your thoughts about Tom Piatak calling out Rod Dreher on his anti-Catholicism and Dreher responding by insulting Chronicles.

Idle Spectator said...

The evidence that Gilens and Page present needs careful interpretation. For example, the opinion surveys they rely on suggest that, on many issues, people of different incomes share similar opinions. To quote the paper: “Rather often, average citizens and affluent citizens (our proxy for economic elites) want the same things from government.” This does get reflected in policy outcomes. Proposals that are supported up and down the income spectrum have a better chance of being enacted than policies that do not have such support. To that extent, democracy is working.

The Anti-Gnostic said...

@Bert - I tracked down the TAC thread in question and glanced thru it but can't be bothered to link. Suffice to say Dreher is in way over his head with anybody from Chronicles.