The SubPrime-Like Government Push to Get Everyone a College Degree...

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…is ruining
a generation that has no idea how to work or find a job. Even NYT
gets it (partially), as this
anecdotal story shows
.

What NYT
gets is that there are a lot of college graduates without jobs.
What NYT doesn’t get is that government is the cause.

The wholesale
creation of degree factories, as a result of government sponsored
programs, has diluted the value of a college education. 1. Because
many more have them and 2. The quality of knowledge by those who
have graduated has declined dramatically.

On the demand
side, the government manipulation of the economy has made it extremely
risky for firms to take on new hires, as the firms don’t know what
the economy will bring, and they don’t know what new regulations
will be hoisted upon them and any new employees.

NYT
very aptly titled its article: A New Generation, an Elusive American
Dream. As I wrote recently, like the housing dream, "the
college degree as the key to success dream" is dead.

There’s going
to be an entire generation of very disillusioned people coming out
of colleges. They were promised the world, but they are getting
a Big Fat nothing. Given that NYT sees it, you know it is
starting.

Read
the rest of the article

July
8, 2010

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