Everyday I read a lot of articles and reports from many different authors who have about as many opinions and perspectives as a beach has pebbles. However, every now and again there's a special rock that really catches the eye. In the case of writers, W. Ben Hunt is a shiny rock for me.
Hunt writes a blog called Epsilon Theory and in one of his recent posts he looks at "the pecking order." The quote below is from his post; click the chic to read the full piece.
This is Step Two of the Pecking Order Lie – the provision of massive debt financing to the non-rich, preferably for non-appreciating experiences like going to college or quickly depreciating things like cars and smartphones.