And after the crash, Thiel insisted there hadn’t really been a crash: He argued the equity bubble had simply shifted onto the housing market. Thiel was so convinced of this thesis that until recently, he refused to buy property, despite his soaring personal net worth. And, again, he was right.
He now believes we are in another bubble, higher education. It’s worthwhile to note that education costs have risen at a much faster rate than inflation. Also notice who is squealing like stuck pigs whenever a responsible politician tries to rein in costs when he sees that the state is out of money.
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