Article on The Higher Education Bubble

As an adjunct professor, I have long thought the educational system is seriously dysfunctional. Students have little incentive to perform because they are insulated by the true cost of their education by their parents, the government and the taxpayers.

I say as much to the students, a number of whom are doing "do-overs" of their failed (drunken) first try at college some years ago.

The unintended consequence of all this helping in cheap credit and "free financial aid" by the government is out of control tuition inflation. Yet another distortion of the market in the name of creating opportunity.

Glenn Reynolds makes the case more eloquently than I could hope to in this piece today about the effects of cheap credit and mounting educational debt.

Real Leaders Needed to Combat Forthcoming Inflation, or Stagflation

Make no mistake, with the Fed printing money like mad, inflation will return. George Melloan explains why it could also be a return to "stagflation."

The question that is particularly acute, especially after the disgraceful performance of Congress on the disgusting, irresponsible stimulus pork barrel bill, is are there any real "statesmen" in Congress, or in the government at all for that matter.

Leaders, who who will call the government and the country to account for its wishful fantasies that cheap money and spending by government on just about any stupid thing (Keynesian stimulus - a great excuse for pork) will solve all of our problems. America needs true courageous leaders in government, more than ever.