So, did you know that nearly 30% of the US is Federal Land? No, really. Directly owned by the federal government. Quick, play this game with me: First, guess which five states have a majority of their land held and managed by a federal agency. Next, guess how many states have less than 5% of their land designated as Federal Land. Then go here and see how well you did.
If you think the Housing Bubble was bad, wait until you get a load of the Education Bubble. Nationwide debt from student loans have grown over 500% in the last decade, and over 900% in the last three. The average college senior graduates with $24,000 in student loan debt. That means much of the economic strength of our young, new professionals is sucked away by loan payments. That’s bad, but heaven help those who didn’t graduate but still have a large fraction of that kind of debt.
Seth Godin on the problems with “short-term” capitalism, which is what happens when people in business make decisions without a lot of care for the long-term consequences. I largely agree with him, it’s a bad thing. However, I have an issue with his statement that it’s the “reason we need the SEC, the EPA, transparent operations, a free press that cares about its mission and people willing and able to speak up” See, what if the government and it’s myriad agencies (like the EPA and the SEC) are practicing “short-term” governing? Or, what if the media is practicing “short-term” reporting? What are our checks against them?