Yo... if you need a star for your next commercial/marketing campaign look no further
Hah didn’t mean to spoil, but I got a free year of Apple TV + when I bought a new iPad so I’ve been checking it out. I think the show was okay.
See, this is in large part based on very successful examples predicated on either being from a very well connected family or being a near genius. When I think of "Harvard Grad" I think of someone from a prosperous family carrying on the legacy or a very industrious boot-strapper that earned it through grit and talent. But if all it takes is paying $$$ WITHOUT those 2 prior conditions then what is the point of paying for a Harvard grad? Employers either want their connections or they want their talent to justify the increased pay they need to offset that bloated tuition.
One of my cousins does the same kind of thing but at a lower scale (no PhDs or anything). She's in her 40s, works at shit jobs for over 20 years somehow always shifting around to bad job to bad job every 2-3 years. Can never hold a job. Every so often she goes back to school for more courses for who knows what.
100% true.
Generally, yeah. SCM is in high demand and logistics appears to be as well. You're at a good timing for setting yourself up for further advancement with a master's (several years of experience and mid-career).
A colleague is doing a masters in procurement.
Sounds like a New Discourses podcast.Was just reading about this idea of elite overproduction and how it can lead to social instability and potentially disaster.
Elite overproduction - Wikipedia
en.wikipedia.org
The college degree/accreditation and student loan system really do have a lot to answer for. Way too many people going to college who have no business doing so (in that there is no way it makes sense economically) and stunting the trajectory and potential of their adult life.
I'd rather get an OnlyFans.
I don't think you have any fans though. What unique thing could you do to get people to pay you?
dramatic reading of neogaf posts is definitely a money maker
This kind of thing is extraordinarily interesting to me. Another thing this explains is the bureaucratic bloat you see popping up at most larger organizations, including universities. I know where I work, we seem to be adding new management and administrative position all the time. Meanwhile, we can not manage to staff enough nurses to reasonably care for our patients. Every manager has an assistant. And a coordinator above them. Then you have department heads and Vice Presidents and that’s before you ever start talking about HR style positions and DEI and education and on and on.I ran the concept by a friend who told me that overproduction of the elite is also explained by the decreasing standard of education. Since the students are less skilled, the courses of study are less rigorous and mostly useless. Ultimately producing a lot of low skilled individuals who consider themselves entitled because of their elite education. For example, the University of California is no longer using SATs for admission and a lot of schools are talking about not giving grades.
This overproduction of the elite eventually leads to another social phenomena called circulation of the elite, in which the disenfranchised elite tries to remove the current elite from power; sort of like what we are seeing in America to a degree.
Circulation of elite - Wikipedia
en.m.wikipedia.org
I believe there are two extremes that lead to the same crushing of dreams.
I'm all for a person to be paid to be compensated for the cost of their education. What I'm taking away is everyone wants the high paid boss position so the education system became designed to produce bosses and now these bosses have a degree and are a dime a dozen and no longer worth the old school high pay rate due to supply vs demand?
Your view on work experience vs academic theory relates to lots of college/university programs.
StreetsofBeige
What is truly insane is that people are being given astronomical loans to pursue degrees that don't provide the possibility of repayment. This is what happens when you allow the federal government to divorce the education system from financial realities. If student loans could be renegotiated via bankruptcy, there would be a financial incentive to make sure that education provided enough value to justify the loans. A bank would not give out 200,000 in loans to become an elementary school teacher, for instance. This would require colleges to keep their prices reasonable or no one would enroll in these expensive programs.
All I know is I could’ve payed a huge portion of my remaining loans (~25k) off this past year, but why would I do that when the government is probably going to swoop to give me at least 10k in forgiveness next year or the year after? Anyone who pays off their loans right now is probably wasting their money. Which is terrible to say that you’re being stupid being responsible, but the government has created this perverse incentive structure by the things they are saying.
Thats because government with bottomless pockets is involved. If there's one organization you can always count on to overpay and not give a shit with infinite debt is government.
I heard "just get a degree, any degree" from a lot of boomers as a kid/teen. That's because a lot of them were already in professional roles with zero college experience but couldn't get promoted to upper management because no bachelor's degree. Now you can't even get unpaid internships at most of those places without highly specific and relevant degrees.
Who knows. But as (I think Evilore) posted in a chart, loan rates are based on criteria and his tier was 6%+ already. Why his is 8% probably has to do with the amount and maybe a shitty credit rating.
I'd say the people pushing degrees (like my parents) lectured us about it because my dad noticed his job opportunities and pay skyrocketed when he got a piece of paper. Before that, he was a broke immigrant who didnt even know English. He was a waiter until he was probably 30 and my parents didnt get their first car until they were about 35 years old. Ya, 35.
The difference would be a mortgage has collateral, which is the house. So if you go bust and can’t pay, the bank takes your house to cover the loss. With education, there is nothing for the bank to take besides your future income. So the risk profile is far different.
Well there is one big difference now vs 20 years ago. 20 years ago banks were the originator of student loans. That changed around 2009/2010 when the Feds nationalized the student loan industry.(They own something like 92% of all loans these days.
Pretty much. It used to be banks didn't want to loan young people with no credit money for an unsecured debt for exactly the reasons you state. Of course then the law was changed to prevent you from using bankruptcy and all of a sudden student loans became insanely lucrative.
And banks actually had to worry about people not repaying as well. So they weren’t going to underwrite $200,000 loans for English Lit undergrad degrees.
That's true, even with the law change that made it so only death/dismemberment gets rid of a student loan (and sometimes not even then, did you have a co-signer?) banks would still be reluctant to make that loan.
I will have no problem with Arts programs if these programs cost next to nothing.
Oh no. They are absolutely not connected. Not even close. You can go to a school for $45k a year to become an elementary school teacher making $40k before taxes. So you could owe upwards for $150,000 on student loans while also attempting to start your life.
Thats government for ya. Mr Bottomless Pockets. No debt or loan is too big or risky.
From what I've heard people still pay off those debts eventually. I mean you have your entire lifetime to pay off the feds and even those people with useless degrees end up getting decent jobs. (Since most of the debt is actually held by the upper middle class, they eventually figure out some way to make a good living.) I know I said this before but when I was working in that business (admittedly right before the feds took over) you could not believe how well those things paid off. (It was nuts.)
Good points.
