Congratulations on Getting that Masters Degree, Now What Are You Going To Do?by Robert Wenzel
The unemployment rate for 20 to 34 year olds with masters degrees is up to 4.2% from 2.9% in June 2007, according to WSJ. Bottom line, any sector of the economy that the government has been promoting aggressively, from housing to education, is collapsing. It is all a manipulated mess. Think about it. The government has twisted the American Dream into being about owning a home and getting a "good" education, even if you can't afford either and don't know what to do with either if the government hands you the money to get both. The government pumped up both products, so that many people using government money, or government guaranteed money, have bought into the pumped up dream, without understanding what it is really all about. With out working and toiling hard for something, they have just grabbed what government has handed to them. When it doesn't work out, they just walk away. These people ended up with an inferior product that would have never appeared in a non-manipulated market. The houses they bought are falling in price like a rock, some are even being abandoned. And everyone knows degrees aren't what they used to be, even graduate degrees. I know a math major who has a PhD and I seriously wonder if this person knows what the square root of nine is. I know another person with a masters degree that has no idea of how to construct a proper sentence. Recently, and I am not making this up, I had to explain to a person with an MBA from the University of Chicago the difference between election primaries and the general election. I had to explain to a Wharton grad (who is a bank analyst!) how the Fed creates money. The world is changing and everything government has touched is collapsing. If you are thinking about getting a graduate degree because it is important to have a "good" education, forget about it. The government has loaded so many flunkies into these programs that those graduating out of these programs are getting little respect, and will be getting even less respect in the future. These degrees will be like owning a house in Detroit. July 3, 2010 Copyright © 2010 Economic Policy Journal
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