Bernie Sanders has absolutely no understanding of economics, and he put it on full display Saturday morning on Twitter.
The wild-eyed socialist, who wants to be President of the United States, showed America and the world that he does not understand what collateral is and how that impacts percentage rates on loans.
Sanders, whose campaign promises of numerous freebies includes the promise of free public university tuition for all, tweeted the following.
You have families out there paying 6, 8, 10 percent on student debt but you can refinance your homes at 3 percent. What sense is that?
— Bernie Sanders (@SenSanders) December 26, 2015
It didn’t take long for the Twitterverse to give the spending-addicted Democrat presidential candidate a lesson.
Seems to be a simple concept, though too simple for a socialist to understand. So, let’s try it again.
— ThatsRMann (@ThatsRMann) December 26, 2015
Some believed that Sanders was making it clear that not everyone should necessarily go to college.
Even some who claim to like him told him he needs to stop using this talking point.
@SenSanders I like you but you have to understand collateralized debt
— Greg Wissinger (@gwiss) December 26, 2015
Could Sanders really be this clueless? YES, HE CAN!
Bill Kristol, the editor of the Weekly Standard, called Sanders out for his stupidity.
Most economically illiterate tweet ever? https://t.co/J41XM66i9A
— Bill Kristol (@BillKristol) December 26, 2015
YES, IT IS.