Looking at the financial side of this subject from a different standpoint; would you purchase a business whose purchase price was such that it guaranteed an operating loss each and every year? I think not, unless of course, you could get someone else to pay the purchase price and incur all of the losses while you participated only in the profits. Nice work if you can get it.
Americans today have a negative savings rate. As a nation, we spend more than we make. There is evidence that this trend will only get worse. A contributing cause for this dismal fact is that parents, rather than saving for their own retirement, are hopelessly attempting to fund the ever increasing cost of their adult children’s education.
I would be one of the last people to tell you that I don’t believe in education; I certainly do. I believe that every American should be required to be educated to a high degree of proficiency in economics 101 and 8th grade general math before they can legally leave home. This new requirement would near certainly peak the interests of the parents.
America does require a diverse educated populous. We can’t all sit around selling stocks and insurance to one another. People educated in every facet of our once viable economy must return to the work place if we are to have any hope of restoring our economy to even a semblance of its’ former self.
But regardless of all the political and social rhetoric, the cost of any education must make fiscal and economic sense. Currently, it doesn’t.
But then, there is hope. Should we hang on long enough for Mr. Bernanke’s induced inflation plan to take hold, perhaps we can continue to borrow against our depreciating $40,000 autos or our artificially appreciating mini-mansions, or even against the inflation adjusted declining balances of our retirement accounts. At least for long enough to allow our children to become hopelessly mired in, “The Biggest Lie Ever Believed.”
Wake up Middle America, this darned math thing is becoming a problem.
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