Government and Student Debt

In an article on the possibility of the Federal government extending its current moratorium on student debt repayment, The Wall Street Journal posed a question to its readers.

How should Congress address the backlog of student-loan payments borrowers will owe after Sept 30?

I say, mostly by leaving it alone. The loans are strictly business arrangements between the borrower and the lender.

In a free market economy, government has no role here, other than to allow student debt to be discharged through bankruptcy like most other debt. Such bankruptcies then must flow with all the ramifications they entail for both the lenders and the borrowers.

Government also should stop guaranteeing student loans. If there needs to be a guarantor in order to have a student debt market at all, let the colleges and universities be the guarantors, either individually or via a consortium. It is, after all, the colleges’ and universities’ high prices and non-marketable or low-income-producing majors that drive the difficulties graduates have with their student debts.

Preserving the Peace

Christopher Columbus statues in Chicago’s Grant and Arrigo parks were taken down under cover of darkness in the wee hours of last Friday. Grant Park is in downtown Chicago, but Arrigo Park is in the heart of Chicago’s Little Italy.

The city’s tear-down was done in direct response to the prior week’s “protesters'” violence when they tried to rip the statues down themselves.

Chicago’s mayor, Lori Lightfoot (D), issued a statement about her government’s complicity in the statue takedown.

This step is about an effort to protect public safety and to preserve a safe space for an inclusive and democratic public dialogue about our city’s symbols[.]

Because surrendering to the demands and threats of a violent minority is the path to inclusivity and democratic dialogue.

Because utterly ignoring Americans of Italian heritage regarding a symbol of an Italian hero is purely inclusive and encouraging of democratic dialog.

Because ignoring a majority of Americans regarding a symbol of an American hero is purely inclusive and encouraging of democratic dialog.

Because doing things in the dark of night is the public way of action.

Surrender and appeasement—they’ll bring peace. Absolutely they will. The peace of tyranny.

Politics of Division

In a Fox News opinion piece about what Progressive-Democratic Party Presidential candidate Joe Biden needs to do to get elected besides ride ex-President Barack Obama’s (D) coattails, Progressive-Democrat Doug Schoen, 30 years a pollster and Democratic political consultant, had this remark.

Biden and his fellow Democrats are still struggling to develop a positive narrative surrounding Biden’s candidacy that is more than a reaction to President Trump’s polarization and division.

Trump’s polarization and division.

What polarization and division? It’s not Trump who’s practicing identity politics that, by design, divides and polarizes.

It’s not Trump who said 15% of Americans “are just no good.”

It’s not Trump who said to a black man that if he didn’t support Biden “you ain’t black.”

The division and polarization are broad—from one side—and have been going on for some time.

It’s not Trump—or any Republican or Conservative—who actively blocks speech or writing that runs contrary to what the blockers already have deemed to be appropriate and acceptable.

It’s not Trump—or any Republican or Conservative—who says Federal law enforcement officers are military troops, Gestapo, occupiers.

It’s not Trump—or any Republican or Conservative—who is accusing an incumbent President of trying to steal an election.

It’s not Trump—or any Republican or Conservative—who is accusing an incumbent President of planning to try to stay in the White House should he lose the election.

It’s not Trump—or any Republican or Conservative—who says if they don’t get their way, they’ll burn the system down.

It’s not Trump—or any Republican or Conservative—who said millions of Americans are racist deplorables.

It’s not Trump—or any Republican or Conservative—who derisively dismissed millions of Americans as mere bitter clingers to Bible and gun in flyover country.

It’s not Trump—or any Republican or Conservative—who accuses those who disagree with them of being racist. Or just stupid.

It’s not Trump—or any Republican or Conservative—who dredges up things from a man’s distant past and looks to destroy the man over that distant past.

It’s not Trump—or any Republican or Conservative—who said Tea Partiers are just Astroturfers and tea baggers.

Schoen should know better.

Joe Biden and Racism

Progressive-Democratic Party Presidential candidate Joe Biden accused President Donald Trump of being a racist in a virtual session last week.

[N]o sitting president has ever done this [spreading racism]. Never, never, never. No Republican president has done this. No Democratic president. We’ve had racists and they’ve existed and they’ve tried to get elected president. He’s the first one that has.

Leaving aside the fundamental racism of making racist accusations with no foundation for them, Biden needs to get a better high school intern to do his research.

It’s hard to find a more overtly racist President than the Democrat Woodrow Wilson, who among other things, infamously said to a black journalist that blacks should be grateful for the protections of segregation. Wilson said that to explain why he was so thoroughly resegregating the Federal government after successive Republican administrations had integrated it over the course of the post-bellum decades.

Internet Security

There is a move afoot—and it’s making significant progress—to develop and deploy a quantum computing Internet.

A group led by the US Department of Energy and the University of Chicago plans to develop a nationwide quantum internet that could be functional in about a decade and with the potential to securely transmit sensitive information related to national security and financial services.
“What we’re moving forward on is building out quantum networks [to] someday…turn into a full second internet, a parallel internet to the digital internet,” said Paul Dabbar, the Energy Department’s Under Secretary for Science.

That would be terrific if it actually comes to fruition. Especially this part:

“Literally anything that would be transmitted encrypted today would be suitable for the quantum internet in the future,” Mr [JPMorgan Chase & Co’s Managing Director, Head of Research and Engineering, Marco] Pistoia said in an email.

Of course, that includes the personal and business correspondence of US citizens.

A problem I have with such a development, though, is this:

“A quantum network, because of physics, is by definition completely secure,” Mr Dabbar said.

No. A quantum network is not the network to end all networks. Such a network is not because of physics…by definition completely secure.

A quantum network is completely secure because of physics as we understand physics today. Security is, and always will be, an arms race between the cryptographers and their evolutions on the one hand, and the hackers and their evolutions on the other.

The biggest threat to security is just this sort of complacency.

There are other problems, and they are not unique to quantum networks, either. One such is a basic denial of service attack, where the hacker doesn’t care a single bit about encryption—at least not directly—but only in denying user access to the network or any node on it. The motive for that denial may be petty vandalism, “protest,” extortion—give me that document you’ve got encrypted on your quantum subnet (so much for quantum encryption)—to any number of other not yet imagined reasons.

Another is the phishing expedition wherein an employee is suckered into taking some action that grants the hacker access to the network.

Then there’s that personal communication secrecy—a citizen’s wish to keep his private communications private, including from the prying eyes of Government. Quantum network use would extend the tension between a citizen’s right to keep private things private and Government’s often entirely legitimate, even urgent, need to know. That, though, is just part of the noise of republican democracy.

By all means, develop and deploy the quantum Internet; it would be a huge step forward in data protection. Sooner is better.

But don’t be complacent about its security. And don’t let up on the need to protect against other forms of attack.