What Will Cause the Next Recession?
Chief economist of Moody's Analytics Mark Zandi says the $1.5 trillion of outstanding student loan debt has created a 'crisis' for young Americans. It's part of the reason millennials are waiting longer to start families, buy houses, and launch businesses. It might also lead to the end of the US economy's 'virtuous' cycle in 2020.
To solve the problem, he suggests shifting focus from providing student loans to increasing the supply of education options – including trade schools, online learning, and community colleges.
Chief economist of Moody’s Analytics Mark Zandi says America’s immigration policy under the Trump Administration conflicts with the country’s core interests.
He says what has historically made America’s economy “special” is that it attracts “the best and the brightest” from all over the world.
He also says baby boomers’ retirement will make welcoming immigrants a necessity in order to help keep programs like Social Security and Medicare funded.