Rantings and tirades of a frustrated economist.
If one is going into student loan debt to the tune of $718k, they better be able to perform open heart surgery upon graduation.
Cappy, what was your blood pressure after finishing the podcast? If nothing else, the shekels made you a bit more mellow.
Rachel got her bachelors in English on scholarship, ending up with only $23K in debt. Nice! Then she borrowed $65K for a masters in who-knows-what "to fill an emotional void". Bad, bud manageable.Otis is the real problem. He borrowed $80K at his historically black undergrad. Then he borrowed $101K for M.B.A. He was too stupid to get into dental school for three years, but wants to borrow an incremental $450K for that. Terrible, but not unprecented."Mike Meru, the orthodontist in the WSJ story, who earns more than $255,000 a year, owns a $400,000 house and drives a Tesla pays only $1,589.97 a month on his student loans. In 25 years, his remaining balance, projected to exceed $2 million given accumulating interest, will be forgiven."https://www.brookings.edu/blog/up-front/2018/05/30/why-the-dentist-with-1-million-in-student-debt-spells-trouble-for-federal-loan-programs/
Its everyman for himself. Eat first fellas
Big tech doesn't hire talented programmers anymore. They hire armies of idiots, noobs, and washouts instead. This is why big tech quality is declining. The bad programmers can't even maintain the software they inherited, much less build new quality software. The talented old-timers who built these companies are taking their money and leaving. Most just retire, some start new companies.
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