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How The College Bubble Will Pop

Tyler Durden's picture




 

In 1970, when 11% of adult Americans had bachelor's degrees or more, degree holders were viewed as the nation's best and brightest. Today, with over 30% with degrees, as the WSJ notes, a significant portion of college graduates are similar to the average American - not demonstrably smarter or more disciplined. Furthermore, declining academic standards and grade inflation add to employers' perceptions that college degrees say little about job readiness. As we noted recently, change is coming as more and more realize college may not be worth it. Educational entrepreneurship offers hope that creative destruction is coming to higher education. The cleansing would be good for a higher education system still tied to its medieval origins - and for the students it's robbing.

 

Authored by Richard Vedder (of the American Enterprise Institute) and Christopher Denhart (Ohio University), originally posted at WSJ,

The American political class has long held that higher education is vital to individual and national success. The Obama administration has dubbed college "the ticket to the middle class," and political leaders from Education Secretary Arne Duncan to Federal Reserve Chairman Ben Bernanke have hailed higher education as the best way to improve economic opportunity. Parents and high-school guidance counselors tend to agree.

 

Yet despite such exhortations, total college enrollment has fallen by 1.5% since 2012. What's causing the decline? While changing demographics—specifically, a birth dearth in the mid-1990s—accounts for some of the shift, robust foreign enrollment offsets that lack. The answer is simple: The benefits of a degree are declining while costs rise.

 

A key measure of the benefits of a degree is the college graduate's earning potential—and on this score, their advantage over high-school graduates is deteriorating. Since 2006, the gap between what the median college graduate earned compared with the median high-school graduate has narrowed by $1,387 for men over 25 working full time, a 5% fall. Women in the same category have fared worse, losing 7% of their income advantage ($1,496).

 

A college degree's declining value is even more pronounced for younger Americans. According to data collected by the College Board, for those in the 25-34 age range the differential between college graduate and high school graduate earnings fell 11% for men, to $18,303 from $20,623. The decline for women was an extraordinary 19.7%, to $14,868 from $18,525.

 

Meanwhile, the cost of college has increased 16.5% in 2012 dollars since 2006, according to the Bureau of Labor Statistics' higher education tuition-fee index. Aggressive tuition discounting from universities has mitigated the hike, but not enough to offset the clear inflation-adjusted increase. Even worse, the lousy economy has caused household income levels to fall, limiting a family's ability to finance a degree.

 

This phenomenon leads to underemployment. A study I conducted with my colleague Jonathan Robe, the 2013 Center for College Affordability and Productivity report, found explosive growth in the number of college graduates taking relatively unskilled jobs. We now have more college graduates working in retail than soldiers in the U.S. Army, and more janitors with bachelor's degrees than chemists. In 1970, less than 1% of taxi drivers had college degrees. Four decades later, more than 15% do.

 

This is only partly the result of the Great Recession and botched public policies that have failed to produce employment growth. It's also the result of an academic arms race in which universities have spent exorbitant sums on luxury dormitories, climbing walls, athletic subsidies and bureaucratic bloat. More significantly, it's the result of sending more high-school graduates to college than professional fields can accommodate.

 

In 1970, when 11% of adult Americans had bachelor's degrees or more, degree holders were viewed as the nation's best and brightest. Today, with over 30% with degrees, a significant portion of college graduates are similar to the average American—not demonstrably smarter or more disciplined. Declining academic standards and grade inflation add to employers' perceptions that college degrees say little about job readiness.

 

There are exceptions. Applications to top universities are booming, as employers recognize these graduates will become our society's future innovators and leaders. The earnings differential between bachelor's and master's degree holders has grown in recent years, as those holding graduate degrees are perceived to be sharper and more responsible.

 

But unless colleges plan to offer master's degrees in janitorial studies, they will have to change. They currently have little incentive to do so, as they are often strangled by tenure rules, spoiled by subsides from government and rich alumni, and more interested in trivial things—second-rate research by third-rate scholars; ball-throwing contests—than imparting knowledge. Yet dire financial straits from falling demand for their product will force two types of changes within the next five years.

 

First, colleges will have to constrain costs. Traditional residential college education will not die because the collegiate years are fun and offer an easy transition from adolescence to adulthood. But institutions must take a haircut. Excessive spending on administrative staffs, professorial tenure, and other expensive accouterments must be put on the chopping block.

 

Second, colleges must bow to new benchmarks assessing their worth. With the advent of electronic learning—including low-cost computer courses and online courses that can reach thousands of students around the world—there is more market competition than ever. New tests are being devised to assure employers that individual students are vocationally prepared, helping recruiters discern which institutions deliver superior academic training. Purdue University, for example, has joined with the Gallup Organization to create an index to survey alumni, providing universities and employers with detailed information, including earnings data.

 

This educational entrepreneurship offers hope that creative destruction is coming to higher education. Many poorly endowed and undistinguished schools may bite the dust, but America flourished when buggy manufacturers went bankrupt thanks to the automobile. The cleansing would be good for a higher education system still tied to its medieval origins—and for the students it's robbing.

Which fits with what we previously noted:

real income of college grads has fallen just as fast as high school grads since 2007...

 

...though over a longer period - an extended academic career has paid off (so more college and more debt is better?)...

 

which means the money flows to best ranked schools - which incentivizes raising fees in a 'Prisoner's dilemma' world... (dominant strategy is to raise tuition - as indicated by the green arrows)

 

 

Which Matt Taibbi so eloquently pointed out:

"The dirty secret of American higher education is that student-loan interest rates are almost irrelevant. It’s not the cost of the loan that’s the problem, it’s the principal - the appallingly high tuition costs that have been soaring at two to three times the rate of inflation, an irrational upward trajectory eerily reminiscent of skyrocketing housing prices in the years before 2008."

 

As Democracy Now notes, during the following interview with Taibbi, "...throw off the mystery and what you’ll uncover is a shameful and oppressive outrage that for years now has been systematically perpetrated against a generation of young adults." The federal government is poised to make $185 billion over the next 10 years on student loans, with no way out for the young borrowers: "Even gamblers can declare bankruptcy, but kids who enter into student loans will never, ever be able to get out of this debt."

As Taibbi concludes,

"something has to be done to sort of check this availability of credit and force colleges to make more rational decisions about pricing and about - and force kids to understand better the consequences of what they’re getting into when they sign up for these loans."

 

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Thu, 01/09/2014 - 18:50 | 4317268 Temporalist
Temporalist's picture

I got my degree in Community Organizing so I can be President some day.

Thu, 01/09/2014 - 18:55 | 4317276 CH1
CH1's picture

They have the magic piece of paper, and the suckers will pay anything to get it.

The poor 18 year old kid has been trained all his life that the magic piece of paper will be the most important thing in his life.

The system will bleed him dry, and probably his family with him.

Thu, 01/09/2014 - 18:58 | 4317288 LawsofPhysics
LawsofPhysics's picture

It's a club, always has been, always will be...

Thu, 01/09/2014 - 19:16 | 4317337 TeamDepends
TeamDepends's picture

Seven years of college down the drain...

Thu, 01/09/2014 - 19:20 | 4317345 Xibalba
Xibalba's picture

and they're still calling you for more money

Thu, 01/09/2014 - 19:28 | 4317365 BKbroiler
BKbroiler's picture

If I would have spent the same 5 years (double major) in my current occupation, which requires no degree, instead of going college,  I would have another house by now.  I did enjoy the hell out of it though, and that's worth something.  5 years of drugs and sex.  That should be the slogan, more people would take out student loans.

Thu, 01/09/2014 - 20:02 | 4317459 HardAssets
HardAssets's picture

Just think of how much more drugs and sex you could have had if you didn't pay for books and tuition

Thu, 01/09/2014 - 20:33 | 4317569 Spanky
Spanky's picture

Books and tutition are the co-ed tariff...

Or, as a friend once wrote, "getting more ass than the toilet seat". Convinced me. Esp. since, in my line of work at the time, there were no women and we were gone -- isolated -- for long periods of time...

Thu, 01/09/2014 - 21:17 | 4317759 insanelysane
insanelysane's picture

Computer programmer, ay?

Thu, 01/09/2014 - 23:46 | 4318198 economics9698
economics9698's picture

When I was in the military I was the only one going to night school and the only one getting laid on a regular basis.  Worth every penny.

Thu, 01/09/2014 - 20:03 | 4317461 SafelyGraze
SafelyGraze's picture

"tenure-track faculty" = "vanishing middle class"

http://blogs.lse.ac.uk/impactofsocialsciences/2013/12/11/how-academia-re...

low-wage part-time and non-tenure-track instructors (on annual contract) and grad student wage slaves comprise 2/3 of teaching positions

administrators outnumber faculty

http://www.whatamimissinghere.com/archives/55488

http://gabriellahoffman.files.wordpress.com/2011/08/funding1.png

adminstrators' salaries outpace faculty salaries

http://www.washingtonmonthly.com/college_guide/blog/more_information_abo...

http://ts1.mm.bing.net/th?id=H.4836787224969615&pid=1.9&m=&w=300&h=300&p=0

before a college collapses, it will first become a place where

- students go deeply in debt and don't graduate within 5 years

- the college and/or state goes deeply in debt for new construction on campus

- a few superstar professors bring in millions of dollars of external funding to pay phd students from foreign countries to do research

- a zillion part-time instructors are paid minimum wage to teach undergrads and are replaced each year 

- more and more high-paid administrators supervise regulations about sensitivity to different thought memes

when it begins to collapse, the college's office of legal counsel will attempt to sue its alumni

during the collapse process, many of the alumni will be in jail, will be in debt, will be unable to donate to the endowment

the beautiful campus and buildings will be turned over to state government as a state park and tourism destination

 

 

Thu, 01/09/2014 - 20:38 | 4317592 Rafferty
Rafferty's picture

This article is correct and it brings joy to my weary heart.  And I say that as a former Professor.  Universities have become indoctrination centers for White guilt, specifically White male guilt, PC gulags where Thought Police reign supreme, infested with dumb unqualified NAMs to whom you have to give a passing grade or risk getting hauled before a Diversity Kapo.  Standards have plummeted and courses are infested with 'Studies' of various kinds, Women's, Black, Reparations etc.

I've ordered my beer and am settling back to enjoy.

 

 

Thu, 01/09/2014 - 21:58 | 4317926 FredFlintstone
FredFlintstone's picture

I had to Google NAM.

Fri, 01/10/2014 - 04:34 | 4318638 Deacon Frost
Deacon Frost's picture

Found it in the urban dictionary

Fri, 01/10/2014 - 08:33 | 4318790 kralizec
kralizec's picture

Black, brown & red...

Fri, 01/10/2014 - 08:57 | 4318843 tarsubil
tarsubil's picture

It truly is something to see the construction on college campuses. Especially, when living as a wage slave to erratic professors for a long time. I don't know how you can't see them as simply money producing fiefs for those in power disguised as educational institutions.

Thu, 01/09/2014 - 23:10 | 4318113 Dark_Horse
Dark_Horse's picture

Want to know if you aren't getting the value of your college education?

1) If you can't find a job, no value to college.

2) If you get a job and no one that you work with has a degree, no value to college.

Dark_Horse

Thu, 01/09/2014 - 21:06 | 4317716 darteaus
darteaus's picture

That's getting old, but still a +

Thu, 01/09/2014 - 19:24 | 4317356 fonestar
fonestar's picture

I didn't understand this article.

Thu, 01/09/2014 - 19:45 | 4317412 Dinero D. Profit
Dinero D. Profit's picture

 

If I had a daughter I would send her off to a sorority at a fancy college so that she could find her first husband, if I was a rich man.

Thu, 01/09/2014 - 20:31 | 4317559 Groundhog Day
Groundhog Day's picture

My alma mater in manhattan now advertises a weekend MBA without have to study for the GMAT's. More then one way to dilute paper

Thu, 01/09/2014 - 20:38 | 4317583 Spanky
Spanky's picture

That's about all an MBA is actually worth... IMO.

[Edit] Unless you count networking at the Ivys.

Thu, 01/09/2014 - 21:15 | 4317748 max2205
max2205's picture

Congratulations USSA...you have diluted the value of undergrad degrees as much as the dollar.....I see a trend

Thu, 01/09/2014 - 21:03 | 4317698 RafterManFMJ
RafterManFMJ's picture

I attended collage from the security and comfort of my basements where I completed duel majored in Human Resources and Gender Studies with only 89K in debt; I advise your company on Diverse hire, spot tranny at 100 yards - same day!

As always, I thanks you very much Univercity of Phoenix!

Thu, 01/09/2014 - 18:54 | 4317277 malikai
malikai's picture

Any gap opened by broke American kids unable to pay for their robbing will promptly be filled by Asian kids using pop's money.

Thu, 01/09/2014 - 19:00 | 4317296 Freddie
Freddie's picture

One of the biggest jokes is watching college football games.  I don't watch O-TV but you will see 80,000 white kids plus 20,000 more alumni cheering black players who are getting a free ride on tuition, food and everything. 

The white kids will become lifetime debt slaves because they are getting screwed by the lib unionzed professors and admin with golden pensions.  They are paying for the school books, sports teams, new school buildings and other crap. Just about every scam is going on at most universities with textbooks, housing, unions, research and the list goes on.

The graduates will have no job when they graduate, a life time of debt and they are screaming and cheering for this.

How stupid and sad.

Thu, 01/09/2014 - 19:05 | 4317309 LawsofPhysics
LawsofPhysics's picture

last time I checked the vast majority of professor have 401ks, no tenure, and an increasing workload with stagnant wages.  Now, the administrators on the other hand...

Thu, 01/09/2014 - 19:12 | 4317328 TeMpTeK
TeMpTeK's picture

Organized Sports = The Dumbification of the American Male

Thu, 01/09/2014 - 19:24 | 4317350 Freddie
Freddie's picture

Well the in between commercials during ball games show endless corporate advertisers showing their product and service with a stupid, corrupt or idiot white male.  Just full on propaganda and brainwashing.  

This is all Madison Ave and Operation Mockingbird.  Hollywood does the same shit.  White guys = evil, corrupt, stupid, blood thirsty and the list goes on.  I don't watch there crap and have not watched for years.

Colleges have become a 4 year baby sitting service where the kids are returned to the parents couch or basement after 4 years because there are no jobs.

Thu, 01/09/2014 - 20:21 | 4317509 NIHILIST CIPHER
NIHILIST CIPHER's picture

Freddie     I have not had tv for four years now  MOSTLY because of the point you just made. WHY is the white guy always a bumbling idiot moron half-wit in almost every commercial? Also tv is geared for the low-intel segment of society. Commercials make me want to seriously hurt somebody. Notice they vote on what commercial was the BEST after the Stuperbowl every year...fucking morons!

Thu, 01/09/2014 - 20:43 | 4317602 Rafferty
Rafferty's picture

Why are Whites always portrayed as dumb and useless?

Because the Joos despise and want to destroy us.

Fri, 01/10/2014 - 04:38 | 4318641 Deacon Frost
Deacon Frost's picture

'Francis Sawyer' is back under a new name 

Fri, 01/10/2014 - 09:37 | 4318971 Rafferty
Rafferty's picture

Were it only the case.....

As Orwell said, in a time of universal deceit - telling the truth is a revolutionary act.

On the subject to hand, here's a really good suggestion.  'However, what you can do, if you are Jewish and if you are actually sincere, is work within the Jewish community to call off the dogs. You can work with them in a way that we can’t. Next time you are tempted to chastise the goyim, chastise your own instead. Persuade THEM, those who are doing harm, as opposed to US, who are simply pointing out the reality of the situation in a bid to salvage what we can out of the increasing wreckage of our own tribe'  http://irishsavant.blogspot.ie/2013/10/a-message-to-my-friend-josh.html

Thu, 01/09/2014 - 19:49 | 4317427 TN Jed
TN Jed's picture

Sports are racist!  The lack of white NBA players is disturbing.  It's as if they give jobs to the most qualified.

Thu, 01/09/2014 - 19:55 | 4317449 shepherd
shepherd's picture

At least they are good at SOMETHING.

Sat, 01/11/2014 - 13:33 | 4322882 OceanX
OceanX's picture

Yes, I'm not seeing to0 many off whites on the sailing, surfing, mountaineering or ski/snowboarding circuit ...except for the Sherpas.

TPTB love to see the masses fight over superficial differences, it deflects the heat.  During thre labor wars, the hungarians were brought in to break the striking Italinas, then the blacks were brought in to break the Italian strikers.  Meanwhile, the bankers and elites stacks kept growing... 

Humans are 99.9% identical, there is virtually no difference between us, we all bleed red.  In fact, there is only a 2% difference in the DNA of all life on the planet.  (Yes, I went to college and received a valuable, non-diluted education.)

Thu, 01/09/2014 - 20:08 | 4317473 Dr. Destructo
Dr. Destructo's picture

I despise college football and the NFL. That money could be used for something useful such as funding scientific research or done away with so that tuition would be cheaper, but nooo people want to see a bunch of guys in pads crashing into each other so they can possess a brown ball AND PAY EXTRA TUITION TO SEE IT ALL HAPPEN.

Look, we already have the NFL, and that robs the people of their tax dollars, then these companies have the balls to say "If you don't buy enough tickets we're blacking out the game" or "Buy us a new stadium with your tax money or we move to another city". All the college students need to do is pick their shitty team, buy a shitty jersey, buy a shitty ticket, and cheer their tax dollars away. If the school wants to invest in athletics buy a gym and fill it with treadmills and dead weights, or assign the students more books and have them climb a rope to get to their classes.

Thu, 01/09/2014 - 22:00 | 4317932 Flying Aardvark
Flying Aardvark's picture

Memorabilia, apparel and ticket sales are a huge revenue stream for the schools.

Fri, 01/10/2014 - 16:38 | 4320798 Dr. Destructo
Dr. Destructo's picture

But does it reduce tuition?

Thu, 01/09/2014 - 20:11 | 4317493 HardAssets
HardAssets's picture

A lot of people are trapped in robotic thinking. Last June I went to quite a few high school graduation ceremonies. I talked to the kids and I talk to their parents and many kids were heading to college. Most of them had no idea what they wanted to do. What a waste of a six-figure pile of money. But that's what upper-middle-class professional families do - what's expected. The worst are the straight A students who never had an original thought in their entire lives.

Thu, 01/09/2014 - 20:40 | 4317598 Spanky
Spanky's picture

But the players get a shot at fame and riches. So it evens out.

Thu, 01/09/2014 - 21:53 | 4317910 FredFlintstone
FredFlintstone's picture

"80,000 white kids plus 20,000 more alumni cheering"...more like 20,000 white kids and 80,000 fat, middle age to elderly white people.

Thu, 01/09/2014 - 18:59 | 4317292 Jannn
Jannn's picture

 

Guest Post: #Gold Pricing And The Flows Of #Gold Metal 

 

http://t.co/h9BTZApTmF

Thu, 01/09/2014 - 19:52 | 4317437 SAT 800
SAT 800's picture

If you apply for a job in Europe, when you tell the interviewer you have a four year degree from a US College; he writes down "highschool"; for real.

Thu, 01/09/2014 - 22:11 | 4317971 doctor10
doctor10's picture

The origins of the oligarchy lie in the college scam. From SATs, to federal student loans, to the common app. The goal has been to create monolithic thought and conduct that finally has run out of minds and ideas.

"creativity" has become a game of how to bait and trap the next group of their fellowman they have targeted

 

Thu, 01/09/2014 - 18:52 | 4317274 Four chan
Four chan's picture

i put my back into my living.

Thu, 01/09/2014 - 18:57 | 4317284 papaswamp
papaswamp's picture

I'm sorry what did you say? I was staring at your front...

Thu, 01/09/2014 - 20:44 | 4317613 BidnessMan
BidnessMan's picture

I make my living on my back - fixed it for ya

Thu, 01/09/2014 - 18:53 | 4317275 jomama
jomama's picture

i have my PhD in life.

Thu, 01/09/2014 - 20:45 | 4317616 Acidtest Dummy
Acidtest Dummy's picture

I'm working at a degree of common sense.

Thu, 01/09/2014 - 18:57 | 4317283 Seasmoke
Seasmoke's picture

I'm willing to sell mine for 40 cents on the Dollar of today's 4 year cost. 

Thu, 01/09/2014 - 20:33 | 4317571 atomp
atomp's picture

Damn, that's a good idea.

Thu, 01/09/2014 - 18:59 | 4317285 krispkritter
krispkritter's picture

 '...force colleges to make more rational decisions about pricing...'  Good luck with that.  Getting easy money from the 'endless' Gov't supply of cheap credit makes them greedy, same as it ever was.  Paying their professors six-figure salaries and generous bennies while paying their football coaches millions, that has to come from somewhere.  There was no 'irrational upward trajectory', they know exactly what they are doing.

Thu, 01/09/2014 - 19:20 | 4317344 disabledvet
disabledvet's picture

i'm taking classes again...costing me 1/7th the cost that it initially did over 40 years ago. the Wall Street Journal can talk all about "grade inflation" but the only thing they're over charging for is their newspaper. or should i say "news period"? i mean some kid launches a rocket to the moon "but our stupid story that no one cares about will be about Chris Christie"? HELLO....YOUR CUSTOMERS ARE NOT ONLY NOT LISTENING...THEY'RE FLEEING!" http://en.wikipedia.org/wiki/Business_Insider

Thu, 01/09/2014 - 19:20 | 4317346 disabledvet
disabledvet's picture

i'm taking classes again...costing me 1/7th the cost that it initially did over 40 years ago. the Wall Street Journal can talk all about "grade inflation" but the only thing they're over charging for is their newspaper. or should i say "news period"? i mean some kid launches a rocket to the moon "but our stupid story that no one cares about will be about Chris Christie"? HELLO....YOUR CUSTOMERS ARE NOT ONLY NOT LISTENING...THEY'RE FLEEING!" http://en.wikipedia.org/wiki/Business_Insider

Thu, 01/09/2014 - 18:59 | 4317286 NoDebt
NoDebt's picture

A bachelor's degree is equivalent to a high school diploma nowadays.  Just that it costs about 1000 times more.  So if we whittle it down to the point it only costs 800 times more.... winning.

Thu, 01/09/2014 - 19:03 | 4317303 krispkritter
krispkritter's picture

State agency was advertising for a starting desktop support job at something like $26k and wanted a BS in Computer Science and a technical cert(say another $10-15k).  Laughable.

Thu, 01/09/2014 - 19:33 | 4317390 Caveman93
Caveman93's picture

It is especially for a trades skill like IT. I can make more pushing carts at Sam's Club. Sad truth.

Thu, 01/09/2014 - 18:58 | 4317287 midtowng
midtowng's picture

College tenure is the not the problem. Hardly any college gives tenure anymore. In fact, at the current rate, soon many colleges won't have a single tenured professor.

Thu, 01/09/2014 - 19:01 | 4317299 LawsofPhysics
LawsofPhysics's picture

Correct, they will have nothing but administrators.

 

I have a friend from Romania who recently earned his citizenshipI asked him what he thought the fundamental problem with America was today.  He simply said, "too many chiefs, none of whom are held accountable".

Pretty smart guy as far as I can tell.

Thu, 01/09/2014 - 19:00 | 4317290 papaswamp
papaswamp's picture

got to love the wage growth for no high school. Looks like the education system is useless after middle school.

Thu, 01/09/2014 - 19:01 | 4317294 buzzsaw99
buzzsaw99's picture

this article sucks. colleges ARE making rational decisions at this very moment. it's the gubbermint stupid, the same way it is with health care. rich kids will keep going to college with or without student loans no matter how much it costs. owebomba thinks every welfare case and his sista should borrow a mint and go too. freaking losers.

Thu, 01/09/2014 - 19:03 | 4317302 LawsofPhysics
LawsofPhysics's picture

wait, are you telling me that if you subsidize something, you only make it more expensive?

< shocker >

Thu, 01/09/2014 - 19:13 | 4317329 shepherd
shepherd's picture

So children shouldn't be able to go to college like the rich children can, just because their parents are poor?

That's brilliant.

Only an American could think that the money of the parents should be the determining factor in the education of children.

Thu, 01/09/2014 - 19:25 | 4317360 LawsofPhysics
LawsofPhysics's picture

Then perhaps, the poor child needs to select an affordable option or earn a scholarship.  Unless you have no problem with debt-slavery of course.

Only a non-american would be comfortable with slavery (the american "education" system has been brow-beating children about slavery for 100+ years).

Thu, 01/09/2014 - 19:31 | 4317378 shepherd
shepherd's picture

Slavery? Talk about the debt-slavery that the CURRENT system brings you, will ya?

 

Thu, 01/09/2014 - 21:04 | 4317702 darteaus
darteaus's picture

Only a European could think that the money of the declining indiginous populations should pay to [house, feed, clothe, "educate", doctor, sustain] the Muzzy hordes as they [riot, procreate, burn cars, procreate, demand Sharia law, procreate, do nothing, procreate].

Thu, 01/09/2014 - 20:58 | 4317682 darteaus
darteaus's picture

I'm paying for my kids, and I'm not rich, AND I'm paying for everybody else's kid because I pay taxes.

Thu, 01/09/2014 - 19:03 | 4317305 Bastiat
Bastiat's picture
Twenty Years of NAFTA Sucking Sound Twenty Years of NAFTA Sucking Sound

 

TWENTY YEARS OF THAT GIANT SUCKING SOUND

"NAFTA’s promoters also claimed that NAFTA would be a huge benefit to Mexico, stemming illegal immigration to the U.S., drug trafficking and other corruption, and other ills. (How is that working out?) But even with Mexico’s $1 trillion NAFTA surplus with the U.S., Mexico still suffers a chronic global trade deficit as China and other countries use it as a back door to the U.S. Last year Mexico paid $60 billion for imports of mostly manufactured goods from China while earning only $6 billion from exports of mostly mineral and agricultural commodities to China." - See more at: http://www.batr.org/corporatocracy/010814.html#sthash.QF1LiO5T.dpuf

http://www.batr.org/corporatocracy/010814.html

Thu, 01/09/2014 - 19:05 | 4317310 LawsofPhysics
LawsofPhysics's picture

Ross Perot, is that you?

Thu, 01/09/2014 - 19:14 | 4317334 Bastiat
Bastiat's picture

Nice Perot vid embedded in that article. 

Thu, 01/09/2014 - 19:13 | 4317330 Bastiat
Bastiat's picture

Sorry for the repetition - reply box didn't show my entry as I typed.

Thu, 01/09/2014 - 19:04 | 4317308 syntaxterror
syntaxterror's picture

Hacking, scamming, bullshiting, manipulating, printing money, spying, political scheming. Those are the job skills of today.

Thu, 01/09/2014 - 19:17 | 4317332 yogibear
yogibear's picture

The Fed has PhDs (Piled Higher and Deeper) doing that. 

Become an economist for the Federal Reserve and it's right in their job description.

Thu, 01/09/2014 - 19:17 | 4317336 NOTaREALmerican
NOTaREALmerican's picture

Re;  Those are the job skills of today

 

Always have been.    

What better way to screw a dumbasses than by manipulating him with bullshit?

That painting wasn't painted by a cat, it represents man's eternal struggles with the infinite; and it's worth 2 million bucks.  Yeah, of course it's for sale. 

Thu, 01/09/2014 - 21:28 | 4317801 mickeyman
mickeyman's picture

You sound bitter.

Thu, 01/09/2014 - 19:06 | 4317311 RaceToTheBottom
RaceToTheBottom's picture

I was really pissed off when GW removed the ability of students to default on their student loans.  Just because he was born with a silver coke spoon in his nose, not everyone had one.

Thu, 01/09/2014 - 20:55 | 4317666 darteaus
darteaus's picture

Hussein didn't exactly reverse the policy.  He brought all the debt "in house", so now the taxpayers pick up all the defaults.

Thu, 01/09/2014 - 19:09 | 4317319 NOTaREALmerican
NOTaREALmerican's picture

Big-Ed is just another in a long long long line of Big-Gov scams, with Big-MIC being perhaps the biggest and best scam ever in the history of scams.

Life is about running scams on dumbasses, and you can judge the quality of the scam by measuring how much loot is being moved to the smart-n-savvy people.

Thu, 01/09/2014 - 20:09 | 4317324 Radical Marijuana
Radical Marijuana's picture

People are born ignorant and afraid, and hence, it is easy to keep them that way. Babies know little and start life by crying. All our knowledge and courage have to be grown. It is much easier to subvert an education process, than to make education work. It is especially facile for the education process in a fake democracy to also be a fake.

A central principle of democracy is education of all citizens.

A central principle of a fake democracy is a fake education!

This is an obvious fact about the fascist plutocracy: they do not have to be too remarkably competent, but merely stop most other people from becoming competent. There is no evidence to show that taking advantage of the path of least resistance to keep our system going takes any superhuman abilities. The general principle is that once any part of society starts to get away with a profit from their fraud, we then are lost in a runaway feedback system. After any group in a society begins to get away with fraud, they then automatically become more wealthy and powerful. They are even more able to continue to be fraudulent. "Education" has been systematically undermined by the gradual domination of it funding by similar groups of people who were able to gradually take control over the public money supply, by successfully corrupting the government in order to achieve that objective.The usual way that this vicious cycle stops is after a whole society suffers the consequences of a huge fraud in the greater real world, as that society devolves into chaos and collapse.

The American, as well as world-wide, "fish is rotting from the head." Since the international banksters were able to apply the methods of organized crime to take control of the public money supply, and upon that basis operate a fundamentally fraudulent financial accounting system to benefit them, while screwing everyone else, the worse that automatically became. The younger you are, the more you are being lied to, cheated and robbed by the political system you were born into. Just like the American people generally pay for the established systems of legalized lies, backed by legalized violence, to be used against them, while ironically alleged to be done in their name, American students are paying for their future to be destroyed, by being provided with a fake education, which deliberately does NOT enable them to become more competent citizens, but rather attempts to brainwash them to become bullshit consumers, who have only enough limited ability to operate as minimally competent workers, within a drastically limited specialty, while generally otherwise being kept ignorant, by the best brainwashing that money could buy, as carried out through the school systems and mass media.

Thu, 01/09/2014 - 20:50 | 4317646 Spanky
Spanky's picture

+1

For... well OK then!

Cough, cough. Don't bogart that...

Thu, 01/09/2014 - 22:25 | 4318008 Mediocritas
Mediocritas's picture

Not meaning to threadjack, just wanted to point you at the latest from Nicole Foss. Think you'll find it worth reading RM: http://www.theautomaticearth.com/crash-demand-response-david-holmgren-3/

I bring it up here because it's always important to consider the roles of both deliberate planning and simple incompetence when seeking to stack-trace the mess we're now all in.

Here's another fine perspective from Dmitry Orlov that is themed towards the latter: http://cluborlov.blogspot.ca/2013/04/understanding-organizational-stupid...

Sun, 01/12/2014 - 01:34 | 4324242 Radical Marijuana
Radical Marijuana's picture

Thanks for the links, Mediocritas!

The final scenario – Lifeboats

"A particularly daunting challenge is to pop the functional stupidity bubble of an entire nation, since there is no public forum at which objective outsiders can force national leaders to take part in a substantive discussion."

Thu, 01/09/2014 - 19:16 | 4317335 Surging Chaos
Surging Chaos's picture

At this point if the student loan bubble pops, it's going to send the economy right back into recession (yes I know we're still in the one from 2008, but I'm going by the MSM's definition of a recession for now). As I have said in another article, there are cities that rely heavily on the revenue they get from their local college. With fewer students going to bars/restaurants/etc. and fewer high-paying adminstrative bloat jobs, there's less consumer spending to go around. Not good for college towns that rely almost entirely on that kind of service-based economy.

There are more bubbles now than ever before (bonds, stawks, student loans, housing again, etc.) and the TPTB don't want to see any of them pop. Because if one bubble pops, the ensuing chain reaction would be too much for even them to stop.

Thu, 01/09/2014 - 19:23 | 4317353 NOTaREALmerican
NOTaREALmerican's picture

Re;  Not good for college towns that rely almost entirely on that kind of service-based economy.

 

Yeah.   I've lived in a bucolic college town for almost two decades now and the changes in the last 10 years are astounding.   

It's really good to be on the receiving end of the debt spigot.    Right now,  it's still going strong and the University is exploring ways to diverify into higher paying foreign (largely Chinese) students who bring in 3+ times the amount of loot.

Socialism really does work, but - obviously - it can only work for about 10 - 20% of the population.  

Thu, 01/09/2014 - 19:16 | 4317338 Catullus
Catullus's picture

So kids will chose to no longer go to college because the earnings differential between degree and non-degree is collapsing? Not so fast my friend. I still play craps and blackjack knowing damn well the house has better odds and if I play long enough, I will lose money

Fact of the matter is when you're a hiring manager, you only have so many points of information to let you know whether the applicant sitting across from has got what it takes. For the most part, someone knows when they apply for a job whether they're qualified for it. There's an unequal information here. One side knows more than the other. The degree is a data point that says the person is at least competent enough to get one. Even if you're incredibly intelligent and competent, you still have to get a degree because even the incompetent, retard has one.

And that was the last game theory class I attended

Thu, 01/09/2014 - 19:24 | 4317355 shepherd
shepherd's picture

In that case, couldn't they just take an IQ test or something?

It seems incredibly wasteful to spend years on just proving something to some asshole that maybe wants to hire you.

Thu, 01/09/2014 - 19:31 | 4317377 NOTaREALmerican
NOTaREALmerican's picture

Re:  It seems incredibly wasteful to spend years on just proving something to some asshole that maybe wants to hire you.

It is, but it's like any other frat/club concept.    A college education is mostly an exersize in attendance and drudgery.   But, that's what an employee does too.   So, the people doing the hiring can pick someone who has stuck with it for 4 years or someone who is an unknown.  

Thu, 01/09/2014 - 21:47 | 4317863 FredFlintstone
FredFlintstone's picture

I went through a rigorous program in engineering at a top 20 school where we constantly solved problems. I thought it was beneficial nd really prepared me for a rewarding career. But I do believe that many, many schools and programs are questionable.

One that I was thinking of recently was elementary education. At one time they took the brightest young lady that just graduated HS and hired her to teach. If you can read, write and do some arithmetic... I mean come, on how hard would that be. You need a BA to teach third grade? A masters degree?

Thu, 01/09/2014 - 20:04 | 4317464 Catullus
Catullus's picture

Here's a question. If you could hook yourself up to one of those matrix machine things and just upload knowledge directly to your brain instantly, how much more would you pay for that than a college degree?

Thu, 01/09/2014 - 20:54 | 4317657 darteaus
darteaus's picture

"IQ test"?!  RACIST!!

Thu, 01/09/2014 - 21:41 | 4317851 FredFlintstone
FredFlintstone's picture

Believe it or not it has been illegal to administer an IQ test to a prospective employee for some time now.

Fri, 01/10/2014 - 12:05 | 4319566 _ConanTheLibert...
_ConanTheLibertarian_'s picture

I'm not surprised.

Thu, 01/09/2014 - 19:25 | 4317358 disabledvet
disabledvet's picture

again "the college educated man pays for news" not the Wall Street Journal.

Thu, 01/09/2014 - 19:18 | 4317341 cabtrom
cabtrom's picture

More edjumication eekwills moor gooder! Moor gooder eekwills moor $$$!
Moor $$$ eekwills moor shit! I like shit!,

Thu, 01/09/2014 - 19:21 | 4317349 Caveman93
Caveman93's picture

I'm seeing it pop right now before my very eyes! Enrollment in my local CC down by a fifth this semester. My wife's graduate class was cancelled because half the class "disappeared" so now she's stuck with whatever they can replace her practicum with ...which isn't very much. Most of the 'professors" are adjuncts and almost two-thirds of all the staff on my campus are part-timers with no benefits. Yeah...big pop is happening right now. 

Thu, 01/09/2014 - 19:27 | 4317359 wisehiney
wisehiney's picture

There is always opportunity. If I was a young buck, you folks would not have to put up with my bullshit. I would be too busy making the most of the great opportunity that still exists. I did not say that it would be easy. Hard work, long hours, sacrifice. But once you begin to see the rewards, you will be hooked. It has always been easy to make excuses. You gotta be very determined, and never quit. You can do what you want to do later. Every thing in life tastes sweeter when it is earned. My friends used to say that they would never work that long and hard. Now it humbles me when experienced, successful, fine men tell me that they admire me for the way I came from nowhere. You can do it. Believe. Gotta be MEAN! 

Thu, 01/09/2014 - 19:34 | 4317364 ebworthen
ebworthen's picture

The other side of the equation is that there needs to be CAREER EMPLOYMENT AVAILABLE at the end of said edumacation.

An education doesn't make you smart - but it should teach you how to learn:  how to research, how to think critically, use objective reasoning, broaden your vocabulary and knowledge, and how to read/assimilate/comprehend/distill/analyze information.

Hopefully you pick up some creativity and three-dimensional thinking and intuition along the way (parties, dating, drinking, and bong hits help with this).

Most real learning occurs on the job, but that is the problem; the jobs aren't there and most companies are not willing to INVEST in training employees.

A great majority of people are intelligent enough to do most jobs if you are willing to invest the money and time in training them.  Our Kleptoligarchy is not interested in making commitments to human beings.

Thu, 01/09/2014 - 19:31 | 4317374 TORNasunder
TORNasunder's picture

"More significantly, it's the result of sending more high-school graduates to college than professional fields can accommodate."

Imho this is the 'other' side of the college problem that rarely is discussed. When you have more graduates than jobs that require graduates then your gonna have problems. With outsourcing, flat organizations (ie. few middle mgt.), and manufacturing going overseas (plus our recovering economy /sarc) it's obvious why this ratio has exploded and is not going to improve until the amount of graduates drops significantly. This issue is exacerbated by boomers who can no longer afford to retire.

Of course the Universities could care less about this issue since they already have the monies of those soon graduating and 4-5 years is too far away for incoming Freshman to worry about.

If you just have to go to college then knock out your pre-req's at your local Community College and go to a State School.

Debt is bad, unpardonable debt is destructive.

Thu, 01/09/2014 - 20:57 | 4317671 Spanky
Spanky's picture

When you have more graduates than jobs that require graduates then your gonna have problems. -- TORNasunder

Depends on how you look at the problem. All those extra graduates are threat labor. They drive down wages. And whom is that good for?

Thu, 01/09/2014 - 19:32 | 4317383 iamrefreshed
iamrefreshed's picture

If these morons end up with overwhelming debt who cares? These mental midgets got in line to be enslaved. Let them have their wish. They voted Obama anyway, seems a fitting punishment.

Thu, 01/09/2014 - 20:57 | 4317677 Spanky
Spanky's picture

But I thought we had to protect the children. At all costs.

Thu, 01/09/2014 - 21:36 | 4317830 FredFlintstone
FredFlintstone's picture

You don't think it will backfire somehow and have us taxpayers assist in the solution somehow down the road? I think alot of these loans are Government backed.

Thu, 01/09/2014 - 19:33 | 4317386 yogibear
yogibear's picture

Many top entrepreneurs dropped out of college. They realized it was a waste of time for them.

There are the hard sciences where college is required.

How many physicians or dentist never attended college?

 

 

Thu, 01/09/2014 - 20:52 | 4317651 darteaus
darteaus's picture

Bill Gates, Steve Jobs, Michael Dell, Steve Wozniak, Larry Ellison all dropped out.

Thu, 01/09/2014 - 19:49 | 4317429 Towgunner
Towgunner's picture

So, what does the recent Iams commercial that heavily suggests bestiality as "normal", education's, as we know it, inevitable demise and the inevitable failure of the broad progressive movement have to do with each other? 

 

Simple really, when you consider that progressivism is rampant in higher education (and education K-12 as well). Progressivism is also responsible for bring us to the point where bestiality is normal, as referenced in a recent Iam's commercial (note: to be fair its the same old top-down model with progressives...under normal circumstances a non-tranced population of Human Beings would vommit in their mouth and pitchfork Iams). Finally Progressivism is also responsible for the entire educational mess. NO NO, It must be Republicans and evil conservatives!! Answer: How? Something like 93% of all professor vote demRat and for barry the potus. Sorry scapegoat bogeymen won't work this time - education is firmly a Progressive failure, full stop! And look at the dynamics of progressive education, lots of high paid do-nothing jobs (administers) and there always seems to be a need for another office (look for bestiality studies soon), plus, the Daisy of them all - tenure, which is to be clear a non-firable position (believe me people have really tested the limits of this). Tenure and newly created victim studies groups have allowed progressivism to literally brainwash the students. But why are you so surprised...among many other things, tenured professors have NO competition, not only from any ideological standpoint, but worse, from a professional one. So, you say the product is getting worse...what do you expect, of course it is. 

 

However, there is a bright side to this. College is about to go through a radical change brought on more by natural forces if you will (economic forces as a result of conditions and technology)...if you simply introduce a pure competitive environment in colleges today, you'd rapidly wipe-out the entrenched progressive radicals from the 60's. And that’s one of many small changes that would result in huge differences. Of course, it might not stop there, why spend 4 years wasting time and money when today's sissy curriculum could probably be completed by a mature and driven student in ~ 1.5 years. What about new technology leveraging the internet? You see, it’s going to happen, in fact, it’s happening right now. And with this change, academia's religion, progressism, and its bestiality will go down too. 

Thu, 01/09/2014 - 19:50 | 4317431 sunnyside
sunnyside's picture

The total cost for my bach degree (82-86) was about $25k total tuition & room/board for all four years (engineering....large state school).  I have two daughters in school now.  Both in large public state schools.  One is about $16k per year total, the other $20k per year.  I told them I wouldn't pay for dumb ass majors.  One is social work (pre-law) and the other nursing.  Still not sure if it is worth it.

Thu, 01/09/2014 - 20:32 | 4317554 HardAssets
HardAssets's picture

Social work & nursing (medicine)? Right in the middle of the push into collectivism/fascism. I'm trying to steer kids away from those fields in my family right now. What would be worse is a kid joining the military police. One kid I know did that out of high school. The army was pushing to get as many people into that specialty as possible. Do people even read the news?

Thu, 01/09/2014 - 19:50 | 4317433 Atticus Finch
Atticus Finch's picture

Colleges have leveraged this gigantic source of financing (student loans) into massive building projects all being paid for by the students who are shackled by these loans.

Colleges and universities have zero accountability for relating the education they provide to employment. They build massive campuses while students descend into poverty.

Thu, 01/09/2014 - 20:37 | 4317576 HardAssets
HardAssets's picture

Family member I know is going to an absolutely crap college. Complete open enrollment - they let in anyone. Dummies and gangbangers go there. But they offered an athletic scholarship so the kid is going. Can't blame a naïve 18-year-old kid but the parents are fools.

Thu, 01/09/2014 - 21:32 | 4317815 FredFlintstone
FredFlintstone's picture

Back in the mid 1990's I cut out an article and posted it on the outside of my cube wall. It was about a study that a state senator sponsored on university classroom space and how most classrooms were empty most of the time. My company designs buildings so I was thinking that the state university system won't be expanding classroom space anytime soon and that we should focus marketing to another sector.

Boy was I wrong. Our state has poured more money into building academic buildings that was conceivable at that time. I am sure that this senator was shown the door by the PTB.

Thu, 01/09/2014 - 19:52 | 4317439 Seasmoke
Seasmoke's picture

If a graduate comes out if school and can't get a job in the field of the degree, the University should have to payback all years. Would clean up this debt ponzi pretty quickly. 

Thu, 01/09/2014 - 19:54 | 4317446 icanhasbailout
icanhasbailout's picture

One solution to the prisoners' dilemna is to hang the prisoners.

Thu, 01/09/2014 - 20:03 | 4317462 Duc888
Duc888's picture

Land of the free motherfukkerz.  Never forget that.  Ha. 

Thu, 01/09/2014 - 20:09 | 4317481 PubliusTacitus
PubliusTacitus's picture

The Affordable College Act will make higher education mandatory, because more degreeholders in South American Lesbian Anthropology are a desired social good.

 

Then President Hillary will fix everything by forgiving all student debt.

 

Suicide 2016

Thu, 01/09/2014 - 21:54 | 4317899 sunnyside
sunnyside's picture

Dammit, no wonder I couldn't find work.  I was too specialized.  I was a Brazilian Lesbian Anthropology, with a minor in Transgengered Literature & Economics.

Thu, 01/09/2014 - 20:11 | 4317487 mallymcl
mallymcl's picture

my banner directly above the comments is advertising an MBA in 12 months- HA!

Thu, 01/09/2014 - 20:23 | 4317528 gwar5
gwar5's picture

An internet revolution in education is way overdue. Give the marxist academics hoarding the educational process a taste of their own medicine and redistribute education back to the masses. Students of the world unite.

Thu, 01/09/2014 - 20:24 | 4317532 gwar5
gwar5's picture

If you like your college debt, you can keep it.

 

Thu, 01/09/2014 - 20:30 | 4317553 lynnybee
lynnybee's picture

when i graduated high school in 1969, it was just 'the thing' to go to college.   everyone did it, everyone wanted to go to college.   i remember when i told my dad that i wanted to go to college.    my dad (the guy who always saved 10% of his salary & saved his silver coins in an old coffee can) said to me, "THE WORLD NEEDS GARBAGE MEN & TRUCK DRIVERS, TOO!"     i was so damn dumb back then.   i get it now, i understand it now, in a REAL economy, everyone is important, everyone contributes & all benefit from hard work & savings & building responsible citizens.     in my dad's working life he never took anything, & if someone gave him the wrong change, he'd give it back.  it was shameful not to be able to pay your own way in life.    my my my .... how times have changed.

Thu, 01/09/2014 - 21:00 | 4317676 Thing1Thing2
Thing1Thing2's picture

I agree 100 percent.  It is now shameful if you save money or do not buy a luxury car, i-junk, designer jeans and brand name shoes.  One that can buy these things is idolized, it does not mater how one obtains these things.

Thu, 01/09/2014 - 21:02 | 4317689 Spanky
Spanky's picture

When I graduated HS, everyone wanted a college deferment. For the obvious reason. Protests and firefights every night on the evening news with Walter.

Thu, 01/09/2014 - 20:34 | 4317572 jonjon831983
jonjon831983's picture

"Sophomore blues: Big student housing player slumps"

http://www.cnbc.com/id/101026256

Thu, 01/09/2014 - 20:37 | 4317587 thefirstabomb
thefirstabomb's picture

http://dhnnews.com/the-degree-is-doomed/
More and more people are starting to think it.  A piece of paper doesn't mean anything.  The US and the World needs more STEM students and more vocational training.  Employers don't help by requiring a college degree for anything.  I think interviews and resumes are slowly dying as well.  Only a matter of time until it is work portfolios and trial work periods that determine if you get a job. 

Thu, 01/09/2014 - 20:45 | 4317618 wisehiney
wisehiney's picture

Plumbers are getting PAID this week, repairing busted/frozen water lines. Going to be a nice spring for some.

Thu, 01/09/2014 - 20:58 | 4317680 stant
stant's picture

its grueling work right now, and satisfying to help desperate folks. and most are patient. yes it pays well not just in money, godspeed to my brothers suffering at work these last few days and to come. a hot bath some good supper and a shot of burbon before bed. in the morn we gota do it again

Thu, 01/09/2014 - 21:10 | 4317729 wisehiney
wisehiney's picture

They never thought they would love a plumber that much.

Thu, 01/09/2014 - 21:24 | 4317785 FredFlintstone
FredFlintstone's picture

Get to shag some horny housewives?

Thu, 01/09/2014 - 21:03 | 4317697 reader2010
reader2010's picture

We must do away with the absolutely specious notion that everybody has to earn a living. It is a fact today that one in ten thousand of us can make a technological breakthrough capable of supporting all the rest. The youth of today are absolutely right in recognizing this nonsense of earning a living.

We keep inventing jobs because of this false idea that everybody has to be employed at some kind of drudgery because, according to Malthusian-Darwinian theory, he must justify his right to exist. So we have inspectors of inspectors and people making instruments for inspectors to inspect inspectors.

The true business of people should be to go back to school and think about whatever it was they were thinking about before somebody came along and told them they had to earn a living.

- Bucky Fuller, 1970

Thu, 01/09/2014 - 21:23 | 4317780 FredFlintstone
FredFlintstone's picture

If Mr. fuller was correct, wouldn't this lead to a tragedy of the commons type scenario where everyone would want to be in the group who gets to do nothing and there will be no one left motivated enough to make the breakthroughs, pull the levers or go out and remove some debris from the gears? Wouldn't it all just come to a complete stop?

Thu, 01/09/2014 - 21:07 | 4317717 Fix It Again Timmy
Fix It Again Timmy's picture

Frank Zappa - "If you want to get laid, go to college.  If you want to learn something, go to the library."

Thu, 01/09/2014 - 21:20 | 4317768 highwaytoserfdom
highwaytoserfdom's picture

nice education metrics to boot....

Thu, 01/09/2014 - 21:26 | 4317793 Dr. Gonzo
Dr. Gonzo's picture

"Something has to be done..."

To stop our goverment and universities conspiring to swindle and enslave it's gullible youth with criminaly over priced crap, wasted time, and unpayable debt?

Good fucking luck with that. 

Thu, 01/09/2014 - 21:31 | 4317812 Fix It Again Timmy
Fix It Again Timmy's picture

Now, by going to a college, you can occasionally come across some information that is truly a "golden nugget".  My wife was going to graduate school and one of her professors was an executive at a Fortune 10 company.  My wife came home from class one day and said the professor told them, "Never go to your boss with a problem, only go with a solution because that is why he hired you."  I said, BINGO, that gem is worth the total cost of your tuition!  We both lived by those words and it has paid off handsomely...

Thu, 01/09/2014 - 22:00 | 4317935 FredFlintstone
FredFlintstone's picture

Or you can go to the public library and pull any number of those business/management guru books off the shelf and read that for yourself. Where do you think this guy got it from?

Thu, 01/09/2014 - 22:39 | 4317974 foodstampbarry
foodstampbarry's picture

I has Degree frome Universiti of Foneix. On ward and up word Bitchezz!

Thu, 01/09/2014 - 23:08 | 4318107 angelsand
angelsand's picture

Snoden is a high school grad with an advanced IT certification, the certified ethical hacker, which in my buest guess was paid for directly or indirectly by one of his incorporated employers during the previous 10 years.  It cracks me up when people attempt to discredit Mr. Snowden by saying he was only a high school grad.  LOL.  He was making a $100K and living in Hawaii with a stripper for a girlfriend.  Doesn't sound like Mr. Snowden owed anybody $100K for a degree.  The discreditation falls apart further when you consider not only did he procure all the data he did, and therefore outsmart the foxes who were probably just using him anyway, but I think how he took it, when he took it, how much he took, and how to prevent it in the future are still questions people are asking today and tomorrow.

I understand the government will never placate Mr. Snowden with free US citizenship, because one cannot give into blackmail, let alone a nation, but it would behoove us all for a degree of calm to pervail and let the issues Mr. Snowden has raised work their way through our nations soul.

You still need a degree for nurse, teacher, doctor, engineer, but you don't have to have a degree to like to learn new skills, read books, and learn about your world.  And you don't have to bankrupt yourself to get there in 4 years.

 

Take your time.

 

 

 

 

 

Fri, 01/10/2014 - 01:58 | 4318469 TyrannoSoros Wrecks
TyrannoSoros Wrecks's picture

College is a bait and switch. They sucker people in with the promise of future wealth when all they really want is 4 more years to indoctrinate people into sexual degeneracy, faggotry, social justice, White privilege, male oppression, American imperialism, global warming, etc. In the end, students graduate with inescapable debt and a degree in bullshit. They are also incapable of doing little else other than vote for progressive communists and live on government checks. In other words, they become lifetime democreeps.

Fri, 01/10/2014 - 02:24 | 4318497 TyrannoSoros Wrecks
TyrannoSoros Wrecks's picture

And then you have the professor who makes everyone buy $300 worth of books he fucking wrote. That should be illegal.

Fri, 01/10/2014 - 02:39 | 4318517 bh2
bh2's picture

"The worst are the straight A students who never had an original thought in their entire lives."

Those would be the tenure-track candidates.

Fri, 01/10/2014 - 04:22 | 4318631 Rising Sun
Rising Sun's picture

know a guy who owns a few franchised restaurants - he told me he prefers college grads - they can memorize the menu faster than high school grads

 

isn't that just the best fucking line ever???

Fri, 01/10/2014 - 23:26 | 4321839 chasman
chasman's picture

I just want to through up after reading this article .... Higher education is the biggest scam since Bernie Madoff ... thanks to our FEDERAL F'in governemnt the entire middle class with kids has been wiped out .... good luck with that retirment Mom and Dad

Fri, 01/10/2014 - 23:27 | 4321842 chasman
chasman's picture

I just want to through up after reading this article .... Higher education is the biggest scam since Bernie Madoff ... thanks to our FEDERAL F'in governemnt the entire middle class with kids has been wiped out .... good luck with that retirment Mom and Dad

Mon, 01/27/2014 - 06:33 | 4370621 Melody7773
Melody7773's picture

Eventually it will, but I do not understand why the government continues ignoring this problem. It really seems to me that they are so looking forward to what has happened to a housing market just a few years ago when entire American nation experienced Recession and we never know when we default on our trillion loans. The longer government ignores education segment the fast problem will arrive after all.  But this time it might be even a greater impact on our bank accounts.

 

Melody for Dissertation Hypothesis due tomorrow Online

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