Global Economy Bursting?

[Randolph Kinney]

College Tuition Goes Parabolic

Tuition continues to rise, according to the College Board's latest survey, even though the country is in its deepest downturn since the great depression. The college education bubble may be one of the few asset bubbles left in the United States unscathed by the recession. But, like the real estate bubble before it, easy capital from the U.S. government is spurring it forward. Access to government loans and low interest rates make the high up front costs of education seem plausible. But all of that easy money is driving up the cost of education across the country.

 

[Couch Potato]

My old boss called. He is Canadian and had to go back to Canada when his work visa ran out in 2002 and the division was shut down. Some of the people we worked with are with a company in Rancho Bernardo (San Diego county).

It is all about who you know that gets you hired. A degree is nice but it isn't really necessary providing you have connections. After 5 years experience in an industry, companies hire people more for their work knowledge in the industry, not a degree.

Looking at our society, we have a segregation of the intelligentsia and the uneducated class. People who make up the intelligentsia believe the uneducated people need to be protected and told what to do because they really are that dumb, too stupid to vote for the right candidate, the right party.

A major part of the college experience is building relationships and connection. Although movies might lead one to believe fraternities and soroaties are about parties, they are actually about building connections for lifelong benefits that include employment opportunities. Other than family there is nothing as powerful for employment as an effective alumni association.

 

[Couch Potato]

College Tuition Goes Parabolic

Tuition continues to rise, according to the College Board's latest survey, even though the country is in its deepest downturn since the great depression. The college education bubble may be one of the few asset bubbles left in the United States unscathed by the recession. But, like the real estate bubble before it, easy capital from the U.S. government is spurring it forward. Access to government loans and low interest rates make the high up front costs of education seem plausible. But all of that easy money is driving up the cost of education across the country.

The ease of borrowing for education makes "liar loans" for housing appear highly scrutinized by comparison. Colleges are not run by stupid people. If the free market will pay $10,000 and the government gives the student $5,000 toward the cost, the college knows they can charge $13,000 and the student will feel like they got a bargain. There is nothing as effective at raising prices as government subsidies to buyers.

 

[Big ole Boy]

the white house and oil reserve antics

. . .. the white house will go to the oil reserve again and again .... but each time .. the effect on markets will become less and less ...

.... arbitrage will learn quickly ...... and no amount of oil reserve dumping will prop up the dollar .....

 

[Couch Potato]

. . .. the white house will go to the oil reserve again and again .... but each time .. the effect on markets will become less and less ...

.... arbitrage will learn quickly ...... and no amount of oil reserve dumping will prop up the dollar .....

Eventually the reserve will be exhausted. :new_all_coholic:

 

[Randolph Kinney]

The ease of borrowing for education makes "liar loans" for housing appear highly scrutinized by comparison. Colleges are not run by stupid people. If the free market will pay $10,000 and the government gives the student $5,000 toward the cost, the college knows they can charge $13,000 and the student will feel like they got a bargain. There is nothing as effective at raising prices as government subsidies to buyers.

John Stossel - College is a RIP OFF!

http://www.youtube.com/watch?v=AVz-HqwOuyo

A college degree is the new high school diploma. John tells it like it is.

 

[Couch Potato]

Stupid is as stupid does.

John Stossel - College is a RIP OFF!

http://www.youtube.com/watch?v=AVz-HqwOuyo

A college degree is the new high school diploma. John tells it like it is.

If you are stupid when you go to college, you college will still be stupid when you get out of college. Only a stupid person borrows money to go to an expensive, private school to major in "human development." Most people have no need for college, and those who have the need or desire ought to shop wisely just as they would for anything else they are buying.

 

[Austin]

There are advantages to going to college. Football season-it is a ritual. I go to the two open scrimages in August and the spring game. I love to visit the campus. Virginia Tech has one of the most beautiful campi in the country and it is a beautiful drive through the mountains of Virginia. Then comes ACC basketball.
This morning I was out in the storage shed getting a rake and there were my old college books, western civ right on top of the pile. I said to myself I can read that book now and really get a lot out of it. I have to admit, college worked for me. Not making more money but quality of life. When I attended it cost $1,000 per year including room and board. My dad gave me a $500 check each semester and that was it. It was $10,000 per year for my daughter. Those people paying $20,000 a year and up are idiots especially if they borrow it. That girl in the Stossel film majored in Human Resporce Development. What the hell is that? Now she is $85,000 in debt.
The best business education I ever received was from an old tobacco farmer who lived on the adjoining farm. I was raising tobacco at the time with all the modern methods. He had a six grade education and the only money he spent was on fertilizer. I had a lot of hired help. His advice was: "Any time you used hired help they will end with all the money and you will end up with the bag." He was right. That education cost me around $20,000. I haven't hired anyone since.

 

[Randolph Kinney]

If you are stupid when you go to college, you college will still be stupid when you get out of college. Only a stupid person borrows money to go to an expensive, private school to major in "human development." Most people have no need for college, and those who have the need or desire ought to shop wisely just as they would for anything else they are buying.

My bold. And there in lies the problem. All through the video, Stossel interviews person after person who were told, repeatedly, that you will get a job and you will make more money than if you did not get a degree. They even showed Hilary Clinton saying that, along with other noted personalities.

I guess you missed that. :laugh:

 

[Couch Potato]

My bold. And there in lies the problem. All through the video, Stossel interviews person after person who were told, repeatedly, that you will get a job and you will make more money than if you did not get a degree. They even showed Hilary Clinton saying that, along with other noted personalities.

I guess you missed that. :laugh:

I didn't miss a thing. Everybody like to hire celebrities to help sell their products. Just because the Ferrari salesman says it is a great car and can give you easy financing does not make it a great purchase. The value of a college degree is directly related to the intelligence of the person obtaining the degree, and inversely related to the money paid by that person. If you can't get at least a partial scholarship to a university, you are either going to the wrong school or should not go at all.

Can you imagine anything dumber than going to college so that you can become a residential appraiser?