Sallie Mae

Yeah, well, Dick Morris ain't always right but he's always fun and this time he's giving me hope. Yeah yeah, I know, hope is for chumps, but so what.

AN ELECTION THAT THE REPUBLICANS NEEDED TO LOSE -- GOOD LUCK OBAMA

By DICK MORRIS

Published on TheHill.com on November 5, 2008

If ever there was an election that was not worth winning, it was the contest of 2008. While it was hard-fought on both sides, had McCain won, it might have spelled the end of the Republican Party. As it is, the party is well-situated to come back in 2010 and in 2012, if it learns the lessons of this year.

Simply put, all hell is about to break loose in the markets and the economy. The mortgage crisis will likely be followed by defaults in credit card debt, student loans and car loans. We will probably be set for two years of zero growth, according to economists with whom I talk. And the federal efforts to protect the nation from the worst of the recession will probably lead to huge budget deficits and resulting inflation. We are in for stagflation that could last for years.

What is it I find so hopeful? The opportunity to default on my student loans. And to think, I almost drained my 403b last year to settle that old debt....Wait -- maybe I shouldda drained that thing. Read the whole thing here.