I’m pivoting from my traditional satirical posts via “The Mirror Rearview” to comment directly about current events from an economic perspective. In this blog, I wish to specifically express an opinion about the student debt relief program recently announced by President Biden.

Equilibrium. You know an economy is slipping perilously close to a recession when market after a market begins to blow up. And you can recognize which markets are in trouble by the prices. A market-based economy, like ours, always seeks equilibrium. If not enough of a good or service exists, the price rises. Ideally, more producers or suppliers enter the market, and the price falls.