Skip to comments.America's College Bubble Next to Burst, Says NIA ('College Conspiracy' documentary)
Posted on 05/07/2011 5:50:44 PM PDT by 2ndDivisionVet
The National Inflation Association (NIA) - http://inflation.us - is pleased to officially announce that it will soon be releasing its hour long documentary 'College Conspiracy', which will expose the U.S. college education system as the largest scam in U.S. history. NIA has been producing 'College Conspiracy' for the past six months and plans to release the movie on May 15th. NIA members will be given the first opportunity to watch this must see documentary, which we hope will change the college education industry for the better.
NIA expects 'College Conspiracy' to take college education by storm and expose the facts and truth about tuition inflation to prospective college students. Almost everybody applying to college has heard the oft-repeated statistic that Americans with college degrees earn $1 million more in lifetime income than high school graduates without a degree. This is one of those statistics that gets repeated so many times that just about everybody accepts it as fact, but nobody actually does the research to confirm whether or not it is true. 'College Conspiracy' will prove once and for all if indeed this so-called statistic is true or just a myth.
If 70.1% of high school graduates enroll in a college or university, how does a college degree give you an advantage over the rest of the population? Back in the early 1960s, Americans didn't need to go to college. We were a creditor nation with a strong manufacturing base. With an unemployment rate of only 5%, jobs were available to almost everybody. Less than 50% of American high school graduates enrolled into college. For those who did attend college and graduate with a degree, it was actually something special that made you stand out from the rest of the field, because not everybody had one.
American college tuition inflation has been out of control for the past decade. During the financial crisis of late-2008/early-2009, almost all goods and services in America at least temporarily declined in price. The only service in America that continued to rise in price throughout the financial crisis, besides health care, was college education. Despite real unemployment in America reaching 22%, students were brainwashed into believing that if they were lucky enough to be blessed with the privilege to get half a million dollars into debt to obtain a college degree, they will be on a path to riches and have a guaranteed successful career; whereas those who don't attend college are destined to be failures in life.
The current college education bubble is one of the largest bubbles in U.S. history. The college bubble has been fueled by the U.S. government's willingness to give out cheap and easy student loans to anybody who applied for them, regardless of if they will ever have the ability to pay the loans back. Student loan debt in America is now larger than credit card debt, but unlike credit card debt, student loan debt can't be discharged in bankruptcy.
During the 1970s, college students were able to afford their own college tuition without getting into any debt, simply by working a part-time job year round or by working a full-time job during the summer. Not only that, but most college students were also able to afford their own car and a small apartment. However, since 1970, Americans have experienced a 50% decline in their standard of living due to the Federal Reserve's dangerous and destructive monetary policies. You never heard of parents setting up college savings accounts for their children 40 years ago, but thanks to the Federal Reserve, this has become the norm.
The biggest competitive threat to Wal-Mart today in terms of market cap ($192 billion) is not Target ($35 billion) like you might think, but is actually Amazon.com ($89 billion). Wal-Mart is able to offer the lowest prices out of all brick and mortar retailers, because of the size and scope of the company, which allows them to be profitable even at extremely low gross margins. However, while Wal-Mart's stock price is only up 16% from where it was exactly 5 years ago, Amazon.com's stock price is up 470% during this same time period.
Amazon.com's stock price has risen by a 29 times higher percentage than Wal-Mart due to the fact that they sell their products over the Internet with substantially less overhead costs. NIA believes that the future of college education is over the Internet and that Americans in the future will be able to receive a better quality education from the best professors from all around the world at only a fraction of the cost of a traditional brick and mortar college education.
For the vast majority of college courses, there is absolutely nothing that students can learn in a huge multi-million dollar lecture hall with hundreds of other students that they can't learn at home listening to that same professor on a computer. The only reason online colleges haven't taken off yet in America and still have less than a 1% market share of U.S. higher education is because America has a college-industrial complex that cares only about profits and not educating students. The people who control the system simply don't want the system to change, because they are making way too much money by turning American students into indentured servants.
Back in the 1980s when Americans graduated high school, they would get hundreds of thousands of dollars into debt to buy a house. Today, millions of Americans have mortgage-sized debts, but still live with their parents. All they have is a piece of paper called a college degree, that is rapidly declining in value even faster than tuitions are skyrocketing in price.
'College Conspiracy' was made possible by the personal stories that were submitted to us by thousands of NIA members. NIA's staff spent the past six months traveling across the country, interviewing our country's top expert guests in nine different states. Please tell all of your family members and friends to become members of NIA for free immediately at http://inflation.us so that they along with you can be among the first to see 'College Conspiracy'.
The National Inflation Association is an organization that is dedicated to preparing Americans for hyperinflation. NIA offers free membership at http://www.inflation.us and provides its members with articles about the U.S. economy and inflation, daily news stories and blog updates, and important charts not shown by the mainstream media. NIA is the producer of economic documentaries that have received a combined 10 million views including the critically acclaimed 'Meltup', 'The Dollar Bubble', 'End of Liberty', and 'Hyperinflation Nation'. NIA provides unbiased reviews of the major online sellers of gold and silver bullion and also offers profiles of gold, silver, agriculture, oil, and alternative energy companies that could prosper in an inflationary environment. NIA is the creator of 'NIAnswers', the world's most comprehensive database of questions and answers about inflation, currencies, debt, and precious metals.
Taxpayer funded marxist training centers. Better to make them all like Hillsdale college.
yes, the Government started subsidizing College. Anything you want to make more expensive, involve Government subsidies.
Well, the college mafia got one of their own elected so on that basis alone we need to shut them down...LOL
“If 70.1% of high school graduates enroll in a college or university, how does a college degree give you an advantage over the rest of the population? Back in the early 1960s, Americans didn’t need to go to college. We were a creditor nation with a strong manufacturing base. With an unemployment rate of only 5%, jobs were available to almost everybody. Less than 50% of American high school graduates enrolled into college. For those who did attend college and graduate with a degree, it was actually something special that made you stand out from the rest of the field, because not everybody had one.”
The situation in a nutshell. In the past, all you needed was a work ethic and a good idea or two; there was plenty of work and plenty of opportunity out there and social/economical mobility was for the first time in forever, easy. You could make a huge amount of money just working in construction and bringing home the bacon was effortless as long as you worked. Degrees were only needed if you were going to become an engineer or a scientist or a doctor or a lawyer. The rest was on the job training or certifications.
I have an MBA, so does everyone else in business. I agree with this article 100%. There is no benefit to college. Any kid going to a Vo Tech School, leaves there with a skill that will make them more money than any college grad. In fact most college grads will end up working for a self employed Vo Tech grad.
College is not about education, college has become another business, hustling students through, and gobbling up government grant money to pay exorbitant salaries to the central staff. Schools now are tools of the Socialists, and printing presses for money.
Your better off buying a house with that money unless you want to be a Doctor or Lawyer.
Lots of good online college courses these days as well. I’ve taken a couple of online courses from our local community college for my own personal interests.
There are no jobs in the graphic arts industry but I am able to make a little extra on my own. I picked up a $1000 job taking team photos of the local little league teams the other day.
Most of the millionaires I’ve known were high school grads, high school dropouts or community college/vo-tech grads. The only one that I knew had a degree is my b@$+@rd uncle who owned a chain of banks in Florida. He made J.R. Ewing look like Major Tony Nelson.
I've seen this situation repeatedly in my family and the families of my peers. It's out of hand. I regretted not finishing my BA degree in the late 70s, but the work I left college to do was in my chosen profession and I have excelled beyond all others in my class.
The only downside I can think of to online courses is the lack of making physical connections--partying aside. Young people today form their personas behind computer screens and the psychological repercussions have yet to be fully examined. Perhaps that will be the next expose.
Aside from technical or other schools that teach a specific trade, colleges are utterly worthless. During my working career, I’ve found that the more “educated” someone is, the more dumb/stupid they tend to be.
My wife is working on her Doctorate in Nursing, and the program is a joke. The only thing that makes it challenging is her having old hippy liberal professors. I advised her to simply right papers that would appeal to Leftists just to get through it.
I went to college, a private college of excellent reputation in the late 1960’s. My Freshman year, tuition was $990 a year, which I paid for by working as a non-union construction laborer at $3.50 an hour during the summer.
Now the same school charges $36,000 for tuition despite the fact that 65% of their funding comes from sources other than tuition (huge alumni gifting, which I have cut back on). The school year is 5 weeks shorter than it was then, kids are paying something like $110 per hour of classroom (not individual) instruction. That includes the classes with 150 students in them.
This is completely scandalous. Obviously, no one in the Higher Education Industry (and that is what it is) understands the concept of “cost containment.”
Unless your kid is utterly dedicated to becoming a doctor or lawyer, you should not send him to college. Buy them a set of good books, tell them to join a Great Books Discussion Club, and then send them into the Army. My son who went directly into the Army after high school is better and more broadly educated than my daughters who went to college, though he does not have a degree (he’s made more money, too).
Oh no...where will we get our supply of English-speaking waiters and waitresses?
The billions of dollars spent on declining standards of education in this country is outrageous and robs taxpayers, parents and the students, who can’t find a job despite their very expensive degrees.
Or better, hunt out some retired professor and offer him fifty thousand to teach you face to face, one on one. No bothering with the bureaucracy. Fifty thousand is more than enough to get the best possible education.
Or she could write papers.
I hear Ave Maria in Naples is good too.
Or a software engineer. Still good money... for now.
Since 1978, the cost of living has increased 2.5 times, the costs of medical care has increased 6 times and the cost of college tuition has increased 10 times.
Interesting, too that a lot of folks that spent time in the Service ended up in a technical job like engineering.
One must also factor in the explosion of jobs that “required” a college degree, any degree just to apply. Even if the degree had no bearing on the job itself and all the training for the job would be provided after you were hired.
I feel this was a kind of underlying racism to exclude certain people from certain job fields and nothing more.
Or a case of those already in the job, with degrees wanting to establish a pay to play system.
You pay for the degree so you can play at a certain level.
Of course this is a scam, its all a scam.
This whole damn country is built on nothing but a heaping pile of ponzi schemes and scams...
If 70.1% of high school graduates enroll in a college or university, how does a college degree give you an advantage over the rest of the population?
Amazon.com’s stock price has risen by a 29 times higher percentage than Wal-Mart due to the fact that they sell their products over the Internet with substantially less overhead costs. NIA believes that the future of college education is over the Internet and that Americans in the future will be able to receive a better quality education from the best professors from all around the world at only a fraction of the cost of a traditional brick and mortar college education.
Maybe, but you don’t get that piece of paper.
“In the past, all you needed was a work ethic and a good idea or two; there was plenty of work and plenty of opportunity out there...”
Correct, with one addition. They used to give IQ tests.
Somewhere in the late 60’s to early 70’s, you could no longer give IQ tests to prospective employees. It was racist.
Fast forward to today, the college system and its requirements are killing what once was a sound and world wide respected education. Now, the ability of those who could use a college education have been reduced to those who can pay OR the minorities are given it for free. For those in the middle, debt slavery. An UNfreeable debt slavery that can not be undone.
The problem of today, there aren’t as many jobs anymore, and the cost of being in debt is no longer worth that college degree.
That piece of paper doesn’t prove much if you still haven’t learned anything.
I can’t count the number of computer science grads my hubby interviewed from a local UC, and they didn’t know the basics.
Knowing beats not knowing.
If a person just needs a degree for a resume, they could just buy a $100-200 unaccredited degree. LOL
I was blown away last week when the U. of Texas announced it was taking physical delivery of close to one billion dollars of gold. It's only 5%of the school's nearly 20-billion dollar endowment! There's some serious money involved in this education racket!
What is a good life? Does the quality of a life depend on income? How do you achieve a good life? Can anyone teach you how to have a good life? How much control do you really have over your life? How much control do you really have over other’s lives? How much control over their destiny did each passenger have in that plane that crashed into the ocean? What does it mean “to age”?
Just curious...and be honest... do you work in education?
Not without help from parents they weren't. This is an idealized fantasy I'd like to see validated by data just like the rest of the article.
Yes, I’m a computer science professor.
Won't find me in the army. Not these days. Might just as go to college and get that damn piece of paper.
Your bias is understandable. BTW, I do agree with some of your points.
My brother is considering majoring in computer science; would you recommend that course of action?
i've been looking into "college online" because my oldest son will start high school next year... the reason i was looking into online college is money... yes--it should be cheaper... but it isn't... every online program i've looked into is just about as expensive as the traditional method... btw--we like online learning... we are a homeschooling family and have participated n several online classes...
this is what my son will be doing for high school... not the actual Great Books Discussion Club, but an online Great Books course... here is a link to several:
Some things can be taught online, from programming to literary memorization to most management material. Law and language, certainly. However, there are still areas that have to be taught in person and on hand.
That said, much of the core curriculum for the hands-on educational areas can taken online. And many liberal arts programs can be taught entirely online.
“Better to make them all like Hillsdale college.”
I don’t think that Hillsdale College accepts taxpayer money. Maybe they suspect that government support and freedom of thought are incompatible.
College of the Ozarks, Hard Work University
I also teacher computers. A moron could teach what I teach in the computer lab.
So there are classes that must be taught at school and there are classes that do not need to be taught at school.
All I could think of was the wasted time and money spent getting the useless degrees, and how glad I was to seek alternative employment instead of racking up additional credentials because the bosses said "we'd consider you for a promotion if you got an MBA, Master's, etc.".
I have heard this from the Starbuck's barristas while I'm preparing a lecture that pays me 50 - 100 dollars per hour.
Time is money... ignorance is eternal... ugliness is to the bone.
Private 4-year College Average $ 39,028 $ 19,514 $ 1,174
College of St. Thomas More Online $ 7,099 $ 3,550 $ 214
next time u see a reasonably bright kid with iron attached to their nose...face .. ears or ass...or God knows wherever
ask How much education they have...It will amaze ya!
Having said that..Most are all unemployed or working at temporary jobs...Happy as hell living with Mom or Dad..
(P.S... I like to engage them at McDonalds...They cant work there becauce they wont give up their “identity”...I like to have that conversation in front a somewhat new friend that works for Micky D's...She had to move to get the raise to 45K, and she doesn't have a HS diploma
My sister went to Harvard.....
She voted for Little Stevie Dunham....
(”Ivy League Idiocy”)
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