The Bubble And The Pin
” All we know for sure is that every bubble in history inevitably found its pin.”
Normally you don’t see an economic bubble till it’s too late to duck. It goes ‘pop’ and the shit flies. There are signs like ‘too good to be true’ and ‘what goes up must come down’ but the fervor, marketing and excitement of the consumer culture is usually too much for most humans. Wisdom as old as Caveat emptor is about all we have in a world ruled by Corporations and 3 Card Monty hacks.
In the last edition of Scene for 2017 we look at Bubbles and pointy objects like climate change, greed, war, Trump and entropy that burst them.
One of the cruelest of Bubbles is the Student Loan Bubble with debtors owing $1.2 trillion and over one million defaults a year. What would happen if student loan debtors defaulted on their loans in mass? Now that’s a sharp pin to pop the Student Loan Bubble.
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