Housing & Economic Collapse - In Progress

patience · Expert Joined: Jan 04, 2008 Posts: 1504

Maybe if college becomes much less affordale for the masses, a degree will come to mean as much as it did 40 or 50 years ago. There are too many kids in college taking remedial courses the first 2 years, just to get up to speed, and too many BA holders flipping burgers in my town.
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Local fix-it guy..

smallpoxgirl · Moderator Joined: Nov 08, 2004 Posts: 5649

I am always amazed by the number of psychology majors I run into who have no interest in being psychologists. I can't figure out why spend four years studying a field that they have no interest in pursuing as a career. Seems to be kinda what you said. "If I have a college degree, I'll be first in line for shift manager at McDonalds." Good luck paying back those student loans on $7/hr.
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"So while you sit and whistle Dixie with your money and your power.
I can hear the flowers a-growin in the rubble of the towers.
I hear leaders quit their lying
I hear babies quit their crying.
I hear soldiers quit their dying, one and all." - OCMS

auscanman

I disagree with those who think that colleges and universities will just say 'ah shucks' and shrivel away if student enrollment starts to drop due to students being unable to afford tuition. All of these institutes have made major investments in infrastructure, and need students there to pay the creditors and bills, not to mention how badly it would reflect on a university to be unable to fill all available spaces with incoming students. I think we'll see tuition being slashed within the next 2 years, to keep student numbers stable, as opposed to seeing decreases in enrollment.

Rather than layoff professors universities and colleges are more likely to demand that these profs take pay cuts if they wish to remain. If not, replacements can be found. Most profs I know wouldn't stand a chance out in the real world. They just aren't wired for conventional working life, so most would be willing to take a pay cut, rather than compete with Joe Sixpack for whatever work is available.

Enrollment may drop eventually, as the changed nature of the world really hits home with teenagers and post-secondary education loses the lustre it had, but I think it will be more than 5 years, and probably closer to 10 before this happens.

TreeFarmer · Heavy Crude Joined: Jun 26, 2007 Posts: 319

Guys I'm a professor and there is one thing that has been going on at colleges and universities that does not get much press.

The ratio of people on the payroll who teach classes to people on the payroll who don't teach classes has been steadily going down. Almost all schools have way too many people on the payroll doing things that have been deemed "necessary" but are mainly just fluff.

TF

Iaato

Somebody finally answered my question about what happens with FDIC insurance when a bunch of banks go belly up. This remains my most solid argument for why TPTB are being forced to be committed to inflation and hyperinflation when it becomes necessary.

http://www.marketoracle.co.uk/Article4335.html

Armageddon

Retailing Chains Caught in a Wave of Bankruptcies

The consumer spending slump and tightening credit markets are unleashing a widening wave of bankruptcies in American retailing, prompting thousands of store closings that are expected to remake suburban malls and downtown shopping districts across the country.

Since last fall, eight mostly midsize chains — as diverse as the furniture store Levitz and the electronics seller Sharper Image — have filed for bankruptcy protection as they staggered under mounting debt and declining sales.

But the troubles are quickly spreading to bigger national companies, like Linens ‘n Things, the bedding and furniture retailer with 500 stores in 47 states. It may file for bankruptcy as early as this week, according to people briefed on the matter.

Even retailers that can avoid bankruptcy are shutting down stores to preserve cash through what could be a long economic downturn. Over the next year, Foot Locker said it would close 140 stores, Ann Taylor will start to shutter 117 and the jeweler Zales will close 100.

http://www.nytimes.com/2008/04/15/business/15retail.html?_r=2&oref=slogin&ref=business&pagewanted=print&oref=slogin

Denny

EnergyUnlimited · Fusion Joined: May 15, 2006 Posts: 3108

dorlomin · Light Sweet Crude Joined: Aug 05, 2007 Posts: 1061

The investment of human and financial capital into uneeded or underperforming university education over the past ten to fifteen years has been a tale of squander and foolishness.

Universities have become an economic device to keep youth unemployment figures down and to generate uneeded service sector consumption. You have to loan large amounts of cash to consume and education you often should not need.

The money would have been far far better spent on primary school education where you can still make a difference to the child. That and ensuring a good standard of maths and science in high school.

Instead we churn out media tech "BSc's" to man call centers.

IslandCrow

Housing gloom worst in 30 years (UK)

shortonoil · Fission Joined: Dec 02, 2004 Posts: 2684 Location: VA USA

Dear Users,

Please use the link command so that we don’t have to read the right hand part of a post on our right hand wall!

Fredrik · Last edited by Fredrik on Tue Apr 15, 2008 8:52 am; edited 1 time in total

vision-master

Fredrik · Last edited by Fredrik on Tue Apr 15, 2008 9:25 am; edited 1 time in total