Valin Posted September 6, 2010 Share Posted September 6, 2010 Townhall:Michael Barone9/6/10 Imagine that you have a product whose price tag for decades rises faster than inflation. But people keep buying it because they're told that it will make them wealthier in the long run. Then, suddenly, they find it doesn't. Prices fall sharply, bankruptcies ensue, great institutions disappear.Sound like the housing market? Yes, but it also sounds like what Glenn Reynolds, creator of instapundit.com, writing in The Washington Examiner, has called "the higher education bubble."Government-subsidized loans have injected money into higher education, as they did into housing, causing prices to balloon. But at some point people figure out they're not getting their money's worth, and the bubble bursts. (Snip) Link to comment Share on other sites More sharing options...
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