Yes, God. God don't never change.

So welcome to the podcast.

This is Douglas Wilson.

Glad you're joining me.

This is episode 247 of the

the plotcast not only the plotcast but the

plotcast I want to start by talking about the forgiveness of student loan

debt which the president just announced.

So there are numerous economic fallacies that support this notion.

But let's begin with the most obvious aspect of this, which is the people who took out the loan and obligated

themselves to repay the loan are now not going to have to do that.

And because the world is the way it is,

somebody's going to have to do that.

Someone's going to pay the loan off because the loan is not going to be paid off by those

who took the loan out. That means the loan is going to be paid off by individuals who didn't take the loan out.

Not only is it going to be paid by people who didn't take the loan out, but it's going to be

paid student loan debts are going to be paid by people who didn't take the loan out and who didn't go to college.

So certain individuals got the benefit of a college education and indebted themselves to do this and then many tens of thousands

of others who did not get a college education and did not get that benefit are going to be left holding the bag.

They're going to, they're going to be the ones you have to pay because it's the Tonsdauphal principle, right?

Which is there ain't no such thing as a free lunch.

It's not whether this loan is going to be paid off.

...