College grads of recent have nothing to do with the economic downturn or lack of
recovery. This lies completely with us old curmudgeons...
Hamath,The problem with your assertion is that even graduates in
very "useful" majors, such as engineering, computer science and other
so-called STEM degrees, are also carrying tremendous levels of student loans and
struggling economically. So it's not just the basket-weaving and humanities
majors, and the reason for the difficulties of STEM majors is genuinely due to
tremendous corruption in the employment policies in the US.To be
specific, the H1-B visa allows companies to import tech workers from India
(often with forged certifications, as I've found out from decades in the
computer industry) as dirt cheap labor, often paid at barely starvation wages
and forced to work outrageous hours. The H1-B is incredibly corrupt since the
employer controls the visa and can deport the immigrant on a whim, so in
combination with mass outsourcing, it forces wages down and allows US tech
companies to lay off hundreds of thousands of US tech workers who can't
possibly survive on such wages let alone pay off student loans.The
proposed immigration bill would stupidly triple the H-1B visas, forcing even
more tech grads out of work and pushing wages down further. Oppose it.
The question in the headline of this article, ‘Is the slowly recovering
economy the fault of college students?' is an emphatic, "NO!"Most people are carrying too much debt (myself included). Do we always
blame the debtor? Shouldn't creditors ever bear the brunt of
responsibility, not only lending money, but doing so at extortionist rates!?!It is due to the greed of college administrators, university presidents,
trustees, and yes, profressors, all whose salaries have skyrocketed since I got
my bachelor degrees at the University of Utah in the late 1970's, and never
had to carry more than a 6-month loan from a credit union (versus, in too many
cases of recent decades, mortgages on one's life!Colleges use
to give credit much more easily, where credit was due. I was able to test out of
an entire year of college via CLEP (College Level Examination Program). Now,
they largely make earning such college credit difficult, if not impossible.
Their incentive to make students sit in seats and pay exorbitantly to do so is,
for them, financially overwhelming.
Hamath is right in the sense that too many students major in the easiest subject
that has little to no relevance in the real world of the economy nor demand for
that field of study. However, I do also fault colleges,
universities, and perhaps more than anyone, the government for giving such easy
money to students. The colleges and universities are selling a product that is
in very high demand and can get away with raising their tuition rates. Why no
outcry from Obama and the Democrats? Oh that is right, most colleges
and universities are bastions of socialism.
My opinion is strictly anecdotal, I don't have any statistics to back it
up; but people I talk to close to retirement age are putting it off BECAUSE of
all the upheaval in the economy.Will they have to pay for their own
healthcare in 10 yrs.?Will they be required to pay "extra"
taxes on their (sometimes high)retirement income?If
political/economic decisions actually get DECIDED, I think many people are
waiting to retire.Too many "unknowns" at this time!
Blaming the next generation for the crash and chaos caused by their elders is
obnoxious at best.
Here's where the fault may lay at the feet of college students (and
colleges to an extent). What are they majoring in?I heard recently
that the US graduates annually more college students in Communications than
there are jobs in the field. Every year you could have a clean sweep and fill
the jobs. Too many History and Philosophy majors are unemployed or working
out of their field. On the flip side, we have shortages (some
massive) in fields like welding, engineering, and medicine that have been a
major backbone of the economy for years. I don't have a good
solution. But I do think that at least some reason for our sluggish economy
lies at the feet of the college students.