Libertarian economist and financial advisor, Peter Schiff, once again brought free market ideas to the Joe Rogan Experience Podcast. In this clip from earlier this week Schiff and Rogan discuss the student loan and education bubbles.
“Average Americans had lots of money in the bank. They weren’t loaded up with debt. The didn’t have credit card debt. They didn’t have student loans. They didn’t have car loans. They were solvent. Even after the Great Depression, they were solvent. We lived in a bubble economy. Everybody was paycheck to paycheck. Nobody had anything. Businesses couldn’t survive if their revenues stopped. Workers couldn’t pay their rent if they didn’t get their salary. That’s not right. That’s part of the bubble.” – Peter Schiff
Enjoy the whole three hour discussion here.