Sanders’ Economic Ignorance on Twitter has No End
[dropcap size=big]T[/dropcap]here is little more aggravating to economists than Bernie Sanders’ Twitter account. In December, for example, he tweeted to his audience criticizing banks for allowing refinances at lower interest rates than college loans (Sanders ignored banks do this because homes are collateral and allow the bank to walk away with something should you choose not to pay). But, Bernie is back again, and with a vengeance. Today, he posted something possibly dumber on his Twitter, and is being heavily roasted for it.
In my view, it is unacceptable that Americans are paying a $5 fee each time they go to the ATM.
— Bernie Sanders (@SenSanders) January 5, 2016
For our economically apathetic friends out there (including Bernie), this only happens when you use an ATM that belongs to a bank you aren’t with. Because you used technology that requires electricity, maintenance, and repair should something go wrong with it, and that bank can’t access your money because you don’t use them, it needs to get something from you. So the bank charges you, so as to encourage you to bank with them and use that ATM for free from now on.
Of course, most of Twitter realized this. The replies are glorious.
@andrew_bergamo@DeusVultGeorgia@SenSanders All condiments should be free. — Noah #Brexit (@ArcherfishNB) January 5, 2016
In our view, at TLR, you shouldn’t have to buy a hotdog in order to get free ketchup.
@SenSanders Old man yells at cloud
— Dissident Biker (@DissidentBiker) January 5, 2016
@DarkSecretPlace sums it up the best
@SenSanders In my view, smart Americans just use their own bank’s ATM instead of loudly complaining. Free choice, bro. — BeardslyMcTurbanhead (@darksecretplace) January 5, 2016
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