Rantings and tirades of a frustrated economist.
that's going to be halarios imo. the universities will be in those bailout meetings telling the govt theyve spent decades brainwashing the youth that all those liberal ideologies are manna from heaven and by that time the govt will only have enough money to keep the lights on and will cut a lot of them off. watching that reality hit will definitely be worth watching.btw, i propped 'enjoy the decline' over at western rifle shooters in a comment from someone who thinks the usa is going to turn it around. maybe they'll be enlighten by buying some.
Could we maybe hope for sooner? As it sits now, most of the Elitist universities like say - Dartmouth - are heavily subsidized by endowments from rich folk. It appears that said rich folk have a vested interest in turning out idiots. I'm still trying to work out the logic. I get that morons are easer to control that educated, well read, people who think about issue rather than just FEEL about it. On the other hand, how much good does it do to control everything, when the entirety of that everything SUCKS. I mean, would't a rational person rather have a disproportionally large amount of control over a really good economy rather than total control over a slum? - I'm sure I'm still missing something here - probably need to go back to my assumptions, because they don't lead to solution. Public schools are in trouble, apparently N.Y. schools drop $20K per student per year, and can't afford to buy pens - it's all very sad. At some point that's going to implode. That'll be a day worth celebrating.
Aaron,I don't think the US will bail the Universities out - and neither will their indebted (former) students.I have long been speculation as to how the US-student loan bubble will end, and my current prediction is something along the lines of capping the tuiton fee for universities (which will naturally reduce the no. of universities) and ... well thats it.For student-loan indebted people, nothing will happen. Why should the government do anything? Like imputed income to divorced men, being in debt makes you try to work hard. You would not be quitting your corporate slave job if you had a bunch of student debt without any equity on the asset side.Besides being corporate slaves, I also believe many will have a negative (or only slighty positive) net equity over most of their life.This might cripple consumption, okay... but on the other hand you get productive members who HAVE to work under any circumstances, hence you can hire them cheaply.I am much more interested in the effect this procedure has ona) the aggregate of young men who will not attend universities and therefore neither have the carrot of a girlfriend/wife nor the stick of student-loans to get them to work, andb) the long-term effect having 0 net equity on both retirement and procreation.One might wonder how these behemoth civilizations of Rome and Sumer could fall. But now we see such a collapse with our own eyes.DH
Its gonna be tough. Once you've spent much time in academia you are all but unemployable on the "outside".
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