Economics, False teachers, Financial

Because bankers consider a house and a Womyn’s Studies degree to have equal value as collateral . . .

5 Comments

. . . uh, or in a more accurate sense, they don’t.  Unless Socialist and “Christian” Left BFF Bernie Sanders is your banker.

Source: Bernie Sanders Mercilessly Mocked for Posting ‘Economically Illiterate’ Tweet

Democratic presidential candidate Bernie Sanders asked in a tweet Saturday, “You have families out there paying 6, 8, 10 percent on student debt but you can refinance your homes at 3 percent. What sense is that?”

As if you needed more evidence that Leftists literally fail at basic economics, now we have Bernie Sanders publicly questioning how bankers could possibly consider those as different risks.  And this guy wants to be the leader of the free world — and the “Christian” Left thinks his economics ideas are great!

Do we really have to spell it out for the Left?  Apparently so.

If your job is lending money that your owners expect to get paid back, you decide whether to lend money based on those risks and you set interest rates according to risks.  In the case of a mortgage, there is a real thing — a house!! — that they can recover and sell to get money if you don’t pay.  And those silly bankers require you to make a down payment so that if they do have to repossess and sell the house that there will be enough money to cover their expenses.  Where do you they get these crazy ideas?!  How dare they try to keep their assets while providing a valuable service to the community?

With your Womyn’s Studies or whatever other degree you get, there is nothing to recover except your earning power, which, if you aren’t paying them back, is apparently not enough.  So Mr. or Mrs. Banker loses his or her job and the owners lose their money.

It is that simple.  I can teach that and more to an average group of 7th graders in a 30 minute Junior Achievement lesson.  Sanders and his followers are that economically illiterate.

Leftists should never be in charge of economic policies.  Never. Even my dog did better on economics tests than Leftists. 

5 thoughts on “Because bankers consider a house and a Womyn’s Studies degree to have equal value as collateral . . .”

  2. It’s all about pandering for votes for the leftist. Devoid of real ideas or understanding of reality, they must bribe the low-info voter (a good and accurate descriptive for those who vote for leftists) in order to acquire and maintain power.

    Liked by 1 person

  3. “And those silly bankers require you to make a down payment so that if they do have to repossess and sell the house that there will be enough money to cover their expenses. ”

    Also, those who are invested in their houses are more likely to take care of them and pay the mortgage so that they don’t lose their 20% down payment in a foreclosure. (It always struck me as odd to hear people talk about losing “their” houses that they literally did not have a single cent of equity in and had about a 3% down payment on. Um, no, it’s the bank’s house at that point.)

    Liked by 1 person

Comments are closed.