It’s incredible to think that a man who knows so little about economics could potentially be the leader of the free world.
Bernie Sanders continued his assault on basic economics on Saturday with a tweet questioning how home refinance rates could be so much lower than the rates of student loans.
You have families out there paying 6, 8, 10 percent on student debt but you can refinance your homes at 3 percent. What sense is that?
— Bernie Sanders (@SenSanders) December 26, 2015
Apparently Sanders doesn’t understand that a tangible product has actual value therefore it can be taken back by the lender and re-sold.
And, as one social media user commented “a home has actual value, whereas a $100,000 degree in ‘women’s studies’ is WORTHLESS.”
Well you see, @SenSanders, a home has actual value, whereas a $100,000 degree in “women’s studies” is WORTHLESS. https://t.co/CoRqivjOTU
— Bill Sanderson (@BanCollectivism) December 26, 2015
The rest of social media wasn’t much kinder.
@SenSanders if you fail to pay off your mortgage the bank gets your property,a student loan?the gov gets nothing.
— antonnewcombe (@antonnewcombe) December 26, 2015
@SenSanders B/c the default rate on mortgages is a fraction of the rate on student loans, which anyone who isn’t a pot-addled idiot knows.
— Dan (@Maverick_SS_49) December 26, 2015
@SenSanders Probably something to do with the house being an asset.
— Morality Is Freedom (@MoralsToFreedom) December 26, 2015
.@SenSanders Try foreclosing on a diploma.
— Mike aka Proof (@ProofBlog) December 26, 2015
@SenSanders it makes perfect sense. A ‘home’ is collateral which the bank can take possession of in case of default. m/t @KurtSchlichter
— All-American Male (@chrisbraly) December 26, 2015
@SenSanders COLLATERAL… are you stupid bernie? really asinine comment.
— docwhocuts (@docwhocuts) December 26, 2015
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