And the student loan debt cycle continues. I'm all for canceling student debt if it is attached to a longterm plan to reduce the cost of higher education so that the next generation is not strapped with the same problem. My cynical side thinks the higher education lobby is deeply entrenched with the Federal Government and loves the never ending conveyer belt of young adults with large bankrolls provided by government backed debt.
All of this seems like a problem of leverage: the government's fiscal policy encouraged people to be levered up, then the fed's monetary policy allowed people to be levered up.
The "value" for any given thing (housing, college) remains similar, but more leverage for everybody means that same thing gets proportionally more expensive.
I don't see any way out of this except for popping the debt bubble.
