may think thats a good thing, or you may not. Everyone seems to agree that the government, and parents, should be rethinking how we invest in higher educationand that employers need to rethink the increasing use of college degrees as crude screening tools for jobs that dont really require college skills. My parents spent more educating my sister and me than they spent on their house, and theyre not the only ones. As Mr Kostin notes, In 2007, companies allocated more than one-third of their cash use to buybacks (637 billion) just before the S P 500 plunged by 40 during the following year. Now who are those people? I have certainly benefited greatly from the education my parents sacrificed to give. When my parents went to college, it was an entirely reasonable proposition to work your way through a four-year, full-time college program, especially at a state school, where tuition was often purely nominal. The key for me is he puts share buy back and returning money to investors together. I have suggested the mechanism for maintaining the bubble this long has become the wealthy buying the financial products they all own from each other over and over.
Unsurprisingly those 18-year-olds often dont look quite so hard at the education theyre getting. And in the current environment, that means a lot of people borrowing money for jobs they wont get. How bad is it? It will pop one day and all that paper will turn to ash. So with help from bankers and central bankers our cash supply will keep pace with the bubble inflation.
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