Bumhunting as the Economic Paradigm of the 21st Century
7th January 2016
Commenter Olorin has been using the term “dolt wrangling” to describe what appears to be one of the central methods of getting rich in the 21st Century: clever guys with spreadsheets offer attractive-seeming but implausible bets to less clever folks: subprime mortgages in the last decade, subprime car loans now, for-profit colleges financed by government loans, payday loans, casinos, and so forth. But there’s also a nonprofit side to dolt wrangling as well: refugee services and the like.
Another term for the the general approach might be the poker term “bum hunting.”
Government: ‘We have to provide these poor underprivileged people with services for free!”
Con-man: ‘We’d be happy to do that for a reasonable fee…. heh heh….’