dice wrote:so how 'bout at least freezing tuition increases for this year, haaaaaahvad?
university endowment: $40.9 billion
2020 budget: $4.5 billion
2019 tuition: $1.1 billion
2020 tuition increase: $0.044 billion ($1900 per student)
next largest endowments:
30.3 yale
27ish stanford
24.7 princeton
17.4 MIT
meanwhile...people whose net worths have shot up this year:
jeff bezos - from $116 bil to $190 bil
elon musk - from $28 bil to $65 bil
mac bezos - from $37 bil to $63 bil (good thing she didn't sell stock in her ex's company!)
ballmer - from $58 bil to $77 bil
eric yuan - from $3 bil to $15 bil (zoom CEO)
also, a U of georgia study finds that people are more concerned about their finances than their health when it comes to taking precautions against the virus
This whole cares act has been a large transfer of wealth. First, it's not 2 trillion, it's more like 7. The fed has been buying up tons of corporate debt with that 5 trillion dollars and driving up the market. Zombie companies are being propped up by this. It's incredible the disconnect between mainstreet and wallstreet. The PPP which has helped some has also been pillaged by those who are doing fine and have not suffered a downturn (it has also helped some). I think when we come out of this there will be even more consolidation and record profits again. Meanwhile you have senators debating if some people have it too good on unemployment and how to get people off in the middle of the pandemic. While families will be ruined and their is an eviction bubble ready to burst.
It's capitalism for the middle and lower class and then socialism for the rich now. There is no skin in the game. You just gotta captain the zombie company till the next crisis. Congress has done a piss poor job of creating checks and ballances on the system but has gotten bought out and leads these silly bailouts. This stuff isn't happening around the world.