RE Comments made by listeners:
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“Spot on. Quote of the year.”
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Awesome interview with Greg as usual !
Mark
Thanks, Mark!
I just heard on Sarah Westall, Business Game Changers, a guest who was talking about the most recent release of the 2018 US Treasury Report, and the number one asset of the US is ‘Student Loan’ debt.What does this mean? I have not read the report, and am not clear on what this means. How are Student Loans an asset for the US Treasury? I realize this may seem like a silly question, but I am not one who understand money and finances really well, yet. Am learning through Solari the best I can. Thanks!
Colleen:
I am far from an economics expert but generally the entity issuing a loan ( Bank, or Treasury Backed Student Loans ) will claim the loan as an asset as the principal + interest is owed to said entity. I used to recall banks prominently posting signs claiming X number of dollars in assets on the walls of their lobbies. One would assume that the number was what the institution had on hand in customer deposits. But to the contrary, the assets are what was out on loans and the liabilities are the customer deposits which by the way are fractionally made available to be loans.
Hope this helps answer your question.
Mark
I will take a look at the latest Treasury statements. Given the positions that the US has in land and real estate and technology let alone weaponry, I can not fathom how the student loan portfolio could be the largest asset.