10k moral hazard
Biden will forgive 10k in federal student loan debt. And by "forgive" I mean every single person will pay for it either through taxation or debasement of the currency. In 2019, I paid off my student loans. I estimated that 10k was the equivalent of 3 months of work minus necessary expenses. I was extremely frugal because I didn't want debt. Thought experiment: let's say I could grant you 3 months of your youth? How much would that be worth to you? **I'm never getting that time back.** There's an even bigger moral hazard that emerges from this. The government can wave a magic wand and poof! Problems solved! People will only request more from the government and there will be even more taxation and/or currency debasement. **I NEED TO HAVE A HARD ASSET OUTSIDE OF THIS BROKEN SYSTEM** I need something that is worth trading my time for. Time is money. If the money is worthless, then so is your time!
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