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The Financial Armageddon to Freedom video education series
Yesterday I posted the first two videos in a educational series that will address a multitude of topics relevant to the second phase of the global monetary crisis. Above is the second video in this series. This series is a very casual way for me to express my thoughts about this crisis and since they are unscripted videos, all approximately about five minutes in length, they will not be very sophisticated and more simplistic in nature (perhaps too unsophisticated for the ZH crowd). However, I hope that they still provide ample utility to help people of all ages, especially those unsophisticated in financial matters, successfully weather the second phase of this monetary crisis. I won't post every video here and probably won't even post all videos on my financial blog; however you will be able to find them on my youtube channel "smartknowledgeu" if you are interested.
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Something you learn in school
Q: Too much money chasing too few goods best describes ______
A: Demand Pull Inflation
Something you learn once you leave school
Q:Too many college grads chasing too few jobs best describes _______
A: A decline in the value of your degree and lower paying job if any at all.
WTF, are you nuts? A business degree, at least from the some of the Ivy league schools is very valuable! You learn how to game the system and extract lots of money without adding value or doing real work!
I wish I went for one, all I have is a BS from an engineering school, when I need money I have to make stuff and do work.
Though I didn't go to an Ivy Leauge school (too much of an arrogant punk as a teenager to apply myself) from talking with people who have I don't believe the formal education at one is drastically different than other places. The networking is why you would go. You either get in as part of the elite club or you get in on your own and make friends with the sons and daughters of the wealthy. Then when you work at a sell-side bank, you have a rollodex of suckers to call up for the latest AAA financial product.
Learning to properly control the population and seek rent is an extra curricular.
So many people have graduated in the past 10 years with very esoteric degrees: these might include Advanced Sanskrit and Art History.
How will these youths find jobs?
Monkey Craig
"How will these youths find jobs?"
Pimps.
Haven't you watched HUNG?
Exactly. Somewhere along the way, there was a decision made to get a degree in a field they "liked," rather than a field that would provide them a job. Sometimes the two coincide. Often they do not.
The concept of student loans (and mortgages for that matter) as being substantial gambles on future production is completly lost on most people, especially those, who at the time, are young, impressionable, generally sucking at the teet of either mommy and daddy or uncle sam, and/or watching others plunge into debt.
I encourage everyone to seek a vocational degree rather than a traditional college degree, barring rare circumstances (already have a job lined up, don't have to borrow for school, etc.).
No one wants to perform the mundane task of attempting to objectively forecast the future demand of their production in their most desired fields. And, even if they do acknowledge difficulty in repaying their debts, still forge ahead. We live in the field of dreams society where if you borrow it, production will come. Sometimes...
I think the observant student does, if only subconsciously. That FED comic book was correct about that aspect. A lot of people I went to engineering school with picked that field because a) they were halfway good with math b) their senior year of high school anyone that knew a thing about computers was getting 100K offers.
Subsequently after the crash most of us got MBAs because "thats where the money was".
Through that bubble lens 120K for a BS and another 100K for an MBA was a no brainer based on percieved future salaries and student loan rates.
...agreed.
Surely this does not apply to anyone studying for a PhD in economics who wants to work for the FED?
"Study long
study wrong"
Snoop Dogg
Ok, any attempt to educate some real world facts works for me. I agree, to an extent, your thoughts on a degreed education. We all know at least one idiot with a degree. Also. unless you got a free ride, folks are graduating into a lifetime of tuition debt. Unless you score in your hunt for a profitable career, you're screwed.
Great video! I agree! I have also been making video's regarding these same topics. Keep up the good work! Check out bigdad06 on youtube.
Great video! I agree! I have also been making video's regarding these same topics. Keep up the good work! Check out bigdad06 on youtube.
thx bigdad. will do.
Correct website URL: http://www.theundergroundinvestor.com/
thx RR. corrected the error already.