Global Economy Bursting?

[Randolph Kinney]

Marc Faber: 100% Chance of Global Recession

http://www.cnbc.com/id/47566735

The stock market appears to be at a critical inflection point. That’s the takeaway from widely followed economist Marc Faber, author of the Boom, Gloom & Doom newsletter.

Faber’s bearish market calls have been followed closely since 1987 when he warned his clients to cash out before Black Monday.

And in a live interview on CNBC’s Fast Money Halftime Report, Faber again warned that economies of the world may be on the brink of a serious slowdown.

Faber indicated that while investors remain focused on Greece and Europe – other issues, bigger issues are looming. And they’re more threatening.

 

[Randolph Kinney]

California's numbed community colleges prepare for still more budget cuts

http://www.oregonlive.com/newsflash...re-for-still/01767fafd6b641f26b8f69a3404a4419

The drain of education dollars from California's community colleges has raised the specter of campus closures or receiverships, a state college budget officer says.

The comment came as the local colleges look at the uncertain fate of Gov. Jerry Brown's tax measure on the November ballot. A defeat there could become a knockout blow for some campuses that have been absorbing cuts and dipping into reserve funds over the past three years.

Troubled districts likely would need to ask the state for emergency loans to keep the doors open, but California may not have money available for such emergencies.

Community colleges may have to cut enrollment, lay off instructors and stop offering classes at some campuses, he said, as many schools have already done.

 

[Riick]

California's numbed community colleges prepare for still more budget cuts
......

Cost for those Community Colleges is awfully cheap, per this site LINK, cost is about $864 for the academic year.
2nd year I was in College (1965) the University became "state related" and cost went way down to $450/semester - equivalent (per inflation calculator) to $3,284 in 2012
$864 for the academic year might as well be free.
As tough as times are, I'd think students could come up with more dollars to continue their education.
But then again, I grew up in a different time & place, where they didn't give away anything, well, at least not anything worth having.

.

 

[Randolph Kinney]

Cost for those Community Colleges is awfully cheap, per this site LINK, cost is about $864 for the academic year.
2nd year I was in College (1965) the University became "state related" and cost went way down to $450/semester - equivalent (per inflation calculator) to $3,284 in 2012
$864 for the academic year might as well be free.
As tough as times are, I'd think students could come up with more dollars to continue their education.
But then again, I grew up in a different time & place, where they didn't give away anything, well, at least not anything worth having.

.

What I find disturbing is the willingness to support rising tuition cost, mainly with student loans, creating debt and poor choices. There is a disconnect with getting a degree and what is required to get a job. The one exception is teaching; any degree can qualify you as an elementary teacher.

But wouldn't you know it, the appraisal sector is moving up the requirements in 2015, requiring a 4 year degree (in anything?) to be a certified residential or certified general appraiser in addition to the basic eduction requirements and experience hours.

Talk about cost not equaling value, WOW! :Eyecrazy:

Maybe an online 4 year degree from the University of Bangladesh or Pakistan will be recognized as a qualifying degree?

 

[Terrel L. Shields]

There is a disconnect with getting a degree and what is required to get a job. The one exception is teaching; any degree can qualify you as an elementary teacher.

...if you have the education block of required courses

the appraisal sector is moving up the requirements in 2015, requiring a 4 year degree (in anything?)

making us almost as good as elementary teachers....except we don't have the appraisal "block" of hours, right?

And all for half the pay and none of the benefits of an Elementary teacher

 

[PropertyEconomics]

Students are actually cutting back on student loans and electing to garner cheaper educations since the value of the "expensive" degree no longer appears to have a positive return to many students.

 

[Terrel L. Shields]

Students are actually cutting back on student loans and electing to garner cheaper educations since the value of the "expensive" degree no longer appears to have a positive return to many students.

A study of Harvard graduates showed that WHO you were mattered more than WHO educated you. Harvard students from poor socio-economic backgrounds were more likely to remain relatively poorer than their more socially connected classmates regardless grades.

Thus, the son of a Senator with ordinary grades was far more likely to become a senator than was the son of a grocer with superior grades.

 

[Workbox]

A study of Harvard graduates showed that WHO you were mattered more than WHO educated you. Harvard students from poor socio-economic backgrounds were more likely to remain relatively poorer than their more socially connected classmates regardless grades.

Thus, the son of a Senator with ordinary grades was far more likely to become a senator than was the son of a grocer with superior grades.

That course is academically called Snobonamics 101. It also comes with a Cross and Bones elective. :new_all_coholic:

 

[Randolph Kinney]

500,000 people lose jobless benefits sooner than expected

Read more: http://www.wtam.com/cc-common/news/...ml?feed=104668&article=10158032#ixzz1wGX7ohLf

Come June, about 70,000 people will lose long-term unemployment benefits sooner than they expected, bumping the number of people who've had the rug pulled out from under them in the first six months of the year to nearly 500,000, the New York Times reports. Congress renewed its extended unemployment program in February, but reduced the maximum number of weeks from 99 to as low as 63. How quickly benefits disappear is determined largely by how much unemployment has increased recently, meaning hard-hit states like California, which has 11% unemployment, lost benefits early because things hadn't gotten worse.

 

[Randolph Kinney]

The End Of The Euro

http://baselinescenario.com/2012/05...eed:+BaselineScenario+(The+Baseline+Scenario)

The most likely scenario is that the ECB will reluctantly and haltingly provide funds to other nations -- an on-again, off-again pattern of support -- and that simply won't be enough to stabilize the situation. Having seen the destruction of a Greek exit, and knowing that both the ECB and German taxpayers will not tolerate unlimited additional losses, investors and depositors will respond by fleeing banks in other peripheral countries and holding off on investment and spending.