which economic bubble do you think will burst next - the student loan bubble or the car loan bubble?

As of Sept. 13, 2017, the total outstanding college loan debt is $ 1.45 trillion (https://studentloanhero.com/student-loan-debt-statistics/). The total outstanding auto loan debt is $ 1.19 trillion (https://ycharts.com/indicators/us_auto_loan_debt). Which of these two will be the first to blow up? You should interview Richard Fossey who wrote "Student Loan Catastrophe: Postcards From The Rubble". He teaches at Louisiana State University at Lafayette. Other good interviews on the topic of college loans would be Alan Collinge of studentloanjustice.org (http://studentloanjustice.org/) or Matt Taibbi, author of "The Great College Loan Swindle" in Rolling Stone Magazine (http://www.rollingstone.com/politics/features/taibbi-the-great-college-loan-swindle-w510880). Surprisingly, at "only" $ 764 billion, total outstanding credit card debt lags behind college and auto loan debt.

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  • rich korn
    published this page in Ask Prof. Wolff 2017-11-13 22:01:02 -0500