“The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.”
College, Cars and Why College Costs Are a Scam
You got cheated on college. Badly. It’s been in the news and on your facebook feed. But how exactly? Well, you know that a dollar invested will grow. However, at the same time, the prices for goods and services also grow. When goods and services become more expensive over time we have inflation. How does this prove you got cheated? Here’s an example, using cars and college:
Your parents could’ve bought a new car in 1975 for an average price of $4,950. If you bought a car in 2015, the average new car price was $31,252. The price increased 600%. That is the impact of inflation.
Now let’s compare the cost of just 1 year of college. The average cost of college tuition, room, and board in 1975 was $2,577. 40 years later, the average for college tuition, room, and board in 2015 was $43,921. College costs jumped 1700%!!!!!!!!!!
It’s absurd and that is why so many people today are saddled with insane debt.
Inflation affects all prices for goods and services, but it really hit college and health care costs the worst. Anyone who graduated college in the last decade or so knows it!