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Is a college degree worth the cost? You decide.
You Tube ^ | 13 November 2012 | Peter Schiff

Posted on 11/15/2012 9:00:48 PM PST by Lorianne

video 5:04

(Excerpt) Read more at youtube.com ...


TOPICS: Business/Economy; Culture/Society
KEYWORDS: education

1 posted on 11/15/2012 9:00:55 PM PST by Lorianne
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To: Lorianne

with every piercing and tattoo the odds of getting a highly paid job goes down. every toke, every dime bag, every crime... probability of a quality life drops

college can offset... a little... but not everything


2 posted on 11/15/2012 9:21:54 PM PST by sten (fighting tyranny never goes out of style)
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To: Lorianne

If you have to ask the question I think the answer is no.Take the money you were going to PISS away at any of the colleges and put it in account earning whatever measly interest you can get.The return will still be much greater than the benefit of any college degree.There will be no jobs for the foreseeable future.


3 posted on 11/15/2012 9:29:56 PM PST by HANG THE EXPENSE (Life's tough.It's tougher when you're stupid.)
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To: Lorianne

It depends. I go to University of Florida, and tuition is cheap. I also get to use my GI Bill. Lastly, I’m going for Electrical Engineering...so I’d say yes for me.

P.S. Going to Bourbon Street is a poor sampling.


4 posted on 11/15/2012 9:32:23 PM PST by EEGator
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To: HANG THE EXPENSE

You can’t put away the Pell Grant, the GI Bill, or any scholarships you won. The answer isn’t black or white, but gray.


5 posted on 11/15/2012 9:34:26 PM PST by EEGator
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To: Lorianne

A college degree is no guarantee of a middle class life but the lack of one guarantees.... god I don’t even want to think of it.


6 posted on 11/15/2012 9:39:12 PM PST by DManA ( you)
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To: EEGator

I was talking about money the parents would be spending on their childs education.I do understand what you were talking about though.Its true, you cant.


7 posted on 11/15/2012 9:46:55 PM PST by HANG THE EXPENSE (Life's tough.It's tougher when you're stupid.)
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To: EEGator

I was talking about money the parents would be spending on their childs education.I do understand what you were talking about though.Its true, you cant.


8 posted on 11/15/2012 9:48:01 PM PST by HANG THE EXPENSE (Life's tough.It's tougher when you're stupid.)
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To: HANG THE EXPENSE

I understand. I think it’s good for kids to work a year or more typically. Some kids are highly motivated though, and should go right away. A lot of bright, motivated kids in my classes.


9 posted on 11/15/2012 10:00:58 PM PST by EEGator
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To: EEGator

I understand == I understand now


10 posted on 11/15/2012 10:03:06 PM PST by EEGator
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To: DManA

Well, I did not have a college degree for the longest time. I first went into the Army as an Infantryman. I learned a lot about motivation and discipline. I left the Army in ‘89. I did not finish my Associates until this year. Yet for the past 15 years I have made either right at, or over 6 figures. The difference is that I sought after vendor technical certifications and leveraged those into jobs and opportunities.

Hustle, determination, research and guts count for a lot more than most people are willing to give credit.


11 posted on 11/15/2012 10:05:19 PM PST by taxcontrol
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To: Lorianne

depends on what job you want to have


12 posted on 11/15/2012 10:09:45 PM PST by Nifster
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To: Lorianne

Like my grandpa used to say - thermometers have degrees too, and you know where they stick them!


13 posted on 11/15/2012 10:57:06 PM PST by zencycler
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To: EEGator

I took 2 years at Washington then transferred to Stanford. The degree/school is just a phrase on the resume. It’s the experience that counts but it is gray. My cousin who dropped out of university to enroll (mistakenly thought it was a computer class) in electrical school and he makes more than I do. Years later, he controls the contracts for the top 4 star hotels in the city.


14 posted on 11/15/2012 10:59:03 PM PST by max americana (Make the world a better place by punching a liberal in the face)
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To: taxcontrol
Hustle, determination, research and guts count for a lot more than most people are willing to give credit.

Congratulations on your hard work and doing well! The problem with youth today is that they think the college degree is all they need, losing sight of having a work ethic and building real useful knowledge. Too many kids go to college that don't belong there. Case in point, a brother-in-law of mine got a psychology degree but was never able to get a real job in the last 15 years. He's been a cellphone salesman, car salesman, and his current job is being a TSA agent. You don't need a degree for low-paying jobs. My wife has no degree but earned a six-figure salary before retiring. Determination and guts.

15 posted on 11/15/2012 11:20:11 PM PST by roadcat
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To: EEGator

Change your major.

I’ve been an IC designer at Texas Instruments for 18 years.

More than 50% of my group are Chinese nationals. Our major customers are Huawei, ZTE, and other chinese telecom companies. It’s rule, Chinese hire Chinese. You also need to speak Chinese to develop products with Chinese companies. We are also competing with Chinese design houses now which run 3 8 hour shifts of engineering. We’re working days, nights, and weekends to compete. No time for family.
Even our American competition uses Chinese manufacturing. It’s getting extremely cut-throat in all product lines. Another 25% of the group is from India.

Other notes:

If you don’t have a PhD, forget it. A Bachelor’s won’t get you in the door. A Master’s, maybe. If you don’t get an in internship, forget it. You’re at a disadvantage. And remember, internships are going to Chinese and Indians because the design jobs are moving to China and India and speaking the languages gives them an advantage.

It’s a fact. Sorry, bud.

Change to Finance.

From a fellow gator.


16 posted on 11/16/2012 12:37:24 AM PST by AlmaKing
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To: EEGator

I went to Michigan for Mechanical Engineering. Engineering isn’t Art History. Jobs are plentiful and you should be in six figures within ten years.


17 posted on 11/16/2012 2:02:57 AM PST by Mikey_1962 (Obama: The Affirmative Action President.)
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To: EEGator

I went to Michigan for Mechanical Engineering. Engineering isn’t Art History. Jobs are plentiful and you should be in six figures within ten years.


18 posted on 11/16/2012 2:03:02 AM PST by Mikey_1962 (Obama: The Affirmative Action President.)
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To: EEGator

I went to Michigan for Mechanical Engineering. Engineering isn’t Art History. Jobs are plentiful and you should be in six figures within ten years.


19 posted on 11/16/2012 2:03:02 AM PST by Mikey_1962 (Obama: The Affirmative Action President.)
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To: Lorianne

This is the era of obama, where hard work is punished, and laziness rewarded. Why try harder, you will only be penalized. After all, according to obama, “you didn’t build it”. :P


20 posted on 11/16/2012 2:30:06 AM PST by AmericanSamurai
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To: Lorianne

I would not have my job today without my Bachelor’s Degree. However, I didn’t need my Master’s Degree to have the job I have today. But you never know what you may need another job with a requirement for a Master’s Degree so to have it is just security or insurance. I don’t think you can ever have too much education. Experience helps a lot too. Problem with college kids today is that they do not want to start at the bottom of the ladder and work up. They want to start mid-level as a first job and that is just not going to happen. Having a degree (no matter the major) is a step ahead. It will AT LEAST get you a look by the hiring agency or HR Department.


21 posted on 11/16/2012 2:42:02 AM PST by napscoordinator (GOP Candidate 2020 - "Bloomberg 2020 - We vote for whatever crap the GOP puts in front of us.")
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To: taxcontrol

“Hustle, determination, research and guts count for a lot more than most people are willing to give credit.”

In the “before-times” that was certainly true; nowadays with gloabalization anyone earning high 5-figure salaries have forces working furiously behind the scenes to either 1) move that job elsewhere or 2) import Asian coolies to do it for less. While I was in college (early 1990s) business professors told us we wouldn’t have the standard of living our parents did, and that the Wal-Mart operating model would dominate in the future; nowadays one has to be very careful about how they invest in education.

While I was in school the big accounting firms would send recruiters to meet with “NABA” (National Association of Black Accountants) to discuss careers; the much larger (and whiter) Accounting Society was ignored...


22 posted on 11/16/2012 3:55:19 AM PST by kearnyirish2 (Affirmative action is economic war against white males (and therefore white families).)
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To: napscoordinator

“Problem with college kids today is that they do not want to start at the bottom of the ladder and work up. They want to start mid-level as a first job and that is just not going to happen.”

Young white males aren’t even offered the jobs at the bottom of the ladder; those that can get them have little chance of advancing (regardless of the quality & quantity of their work). Instead, an affirmative action token (ethnic minority or female) with vaguely-defined responsibilities (and even more vague job skills) will be their supervisor and be credited for their work...


23 posted on 11/16/2012 3:58:24 AM PST by kearnyirish2 (Affirmative action is economic war against white males (and therefore white families).)
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To: AlmaKing

“Change to Finance.”

I understand what you’re saying, but the financial industry is also being handed to Asians. The external audit firm I work with sends foreigners to do auditing & consulting work that many Americans are qualified to do; besides 2 American females, they sent a Filipino, and Indian, and a Canadian. None of the foreigners were CPAs, and they didn’t cost much less than Americans - but they can be forced to work 80 hours per week.


24 posted on 11/16/2012 4:03:24 AM PST by kearnyirish2 (Affirmative action is economic war against white males (and therefore white families).)
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To: napscoordinator

Hubby and I both have degrees, he has 2 masters and I am working on mine.

We still, however, can’t seem to break above the mid 100K’s. It takes owning your own business, I feel, to really make decent money — or to be politically connected somehow, or to be in the hard sciences — engineering, medical, etc.

I feel if one learned a skill, worked in it for a while, then opened up a business — say a plumbing or electrical of some kind, you could do much better in life, remain in one location (because moving costs money and buying/selling homes constantly now can put one in the poor house) and have a better quality of life, be more involved in one’s community, etc.

I enjoyed college for the time it allowed me to mature and grow intellectually ... but I’m not sure those who didn’t go aren’t doing as well as we are. My husband’s sister, who was always the biggest GOOF in college, dropped out even once or twice, now owns a carpet laying biz with her equally goofy husband, and they live in a palace compared to us. They are the business owners ... of course, they could go belly up in this economy and be moving in with us at some point ...


25 posted on 11/16/2012 4:08:15 AM PST by LibsRJerks
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To: EEGator

My son is a senior in the EE program at Western Carolina University....currently Cum Laude.... not bad for a Football player....

I’m a EE....

I told him when he went to college choose a degree that is also a career.....

Unemployment for EE’s is about 2.8% out of college...

Good luck on your degree, you will never be unemployed unless you choose to be....


26 posted on 11/16/2012 4:17:28 AM PST by nevergore ("It could be that the purpose of my life is simply to serve as a warning to others.")
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To: Lorianne

I admire the achievers, be they educated or not. Obviously not all have the entrepreneurial spirit, so college supposedly plants them in a “good” job just for going. As many here have said, that’s bunk now with globalization.

If you strip away “wants”’ we really have very few “needs”’ and uneducated, average, scmoes in the millions have decent lives without six figure incomes. Factor in faith in a Living God and you can walk into a coliseum of lions, penniless, looking like the refuse of Earth and surprisingly be proved to be one of THE most “successful” people of all time...at the real Graduation Day.

But God has chosen the foolish things of the world to shame the wise, and God has chosen the weak things of the world to shame the things which are strong,—1Cor. 1:27


27 posted on 11/16/2012 4:18:09 AM PST by avenir (I'm pessimistic about man, but I'm optimistic about GOD!)
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To: Lorianne

I have an M.D., a degree where the earnings are expected to go down, not up. Obamacare is adding millions of people to the rolls but actually discourages new Medical Doctorate degrees, while encouraging those who are near the end of their career anyway, to go ahead and retire.

It’ll never work folks, government will eventually be making the decisions about who is worthy of medical care and who isn’t but I believe just about everybody here already knows that.


28 posted on 11/16/2012 4:22:46 AM PST by Holly_P
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To: EEGator

“It depends. I go to University of Florida, and tuition is cheap. I also get to use my GI Bill. Lastly, I’m going for Electrical Engineering...so I’d say yes for me.”

Funny, my oldest kid did something similar. No GI Bill (thank you for your service), but 2 years in Community College, then finished up with an engineering degree at a local state college. No debt, employers knocking, affordable tuition.

Bottom line - parents may not realize this (and most parents that I know don’t), but if they’re paying ANYTHING for junior’s college (or, God-forbid, co-signing loans), they hold veto power and absolute control over what junior does there - even though their kids are adults by then. Of course parents can go AWOL and just give the kids 10s of thousands of dollars and let them do what they want - but parents DO NOT have to. College, to me, is simply a glorified vocational school. The days of learning life’s deeper secrets were gone the minute liberals took them over.


29 posted on 11/16/2012 4:26:57 AM PST by BobL (You can live each day only once. You can waste a few, but don't waste too many.)
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To: Lorianne

Only a few Engineers make it without college.


30 posted on 11/16/2012 4:28:59 AM PST by bmwcyle (Women reelected Obama)
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To: Holly_P

“I have an M.D., a degree where the earnings are expected to go down, not up.”

Now they are. I’m sure when you got the degree, it was very prestigious, or at least certainly when you started med school (if you’re young).

I told my kids that the doctor/lawyer route was off the table as far as getting bucks from dad. Doctor-route, for what you mentioned - the government takeover - it was obvious, even 15 years ago, that the Dems were simply buying time, waiting for the stars to line up. They got their alignment. For lawyers, it’s simply a crappy job with way too much supply, versus demand - causing at least half of law school graduates to make less than starting truck drivers.


31 posted on 11/16/2012 5:09:58 AM PST by BobL (You can live each day only once. You can waste a few, but don't waste too many.)
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To: AlmaKing

I’m in my last year. I want to work in the power industry, not the tech fields. I also have a TS/SCI and I’m lucky enough to have some good connections. I appreciate the advice.

Go Gators.


32 posted on 11/16/2012 6:16:24 AM PST by EEGator
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To: Mikey_1962

Engineering is quite a bit more difficult, but worth it. (I hope) I’d like to go to the management side of the house ASAP.


33 posted on 11/16/2012 6:19:25 AM PST by EEGator
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To: Lorianne

When I decided I wanted to be a military officer and pilot, a 4 year college degree was/is mandatory. So I got the easiest degree I could to fill that square. No, the degree itself has made no difference in my life. The pilot training and experience has allowed a great career. The key to a good future is gaining a good technical skill that can’t be outsourced. Whether that is elevator repair, welding, pilot, or hazardous chemical trucking doesn’t matter. All are needed and pay well and won’t be outsourced.


34 posted on 11/16/2012 6:26:36 AM PST by PilotDave (No, really, you just can't make this stuff up!!!)
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To: kearnyirish2

Did those NABA accountants wind up running Arthur Andersen?


35 posted on 11/16/2012 6:28:16 AM PST by EEGator
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To: nevergore

Thank you. I wish your son the best of luck.


36 posted on 11/16/2012 6:29:58 AM PST by EEGator
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To: Lorianne

We “un-degreed” employees in the office spent a lot of time doing two things: (1) Laughing at the idiots who had degrees but couldn’t perform simple tasks, and (2) fixing their horrendous mistakes. Their degrees were in fluff subjects.

I’m not saying that all degrees are worthless, as DH has a PhD in Physics, is successful and highly respected in his profession, and makes a very good living.

There’s a huge difference in having a degree in the hard sciences and a degree in fluff.


37 posted on 11/16/2012 6:32:40 AM PST by MayflowerMadam
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To: BobL

I started off in Community College. Stayed there until I earned my AA, then transferred. Wound up saving some money, and got plenty of individual attention.

I read many of the classical literature books on my own...I don’t need to pay some dirty lib for his opinion. If you have a Kindle, you can go to Amazon.com, and they have hundreds of free books. Most of them are the classics.


38 posted on 11/16/2012 6:34:53 AM PST by EEGator
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To: max americana

There will always be stories like that, but I’d say if you take a large enough sampling the college guy wins. It all depends on personality and work ethic. I’d love to be my own boss someday.


39 posted on 11/16/2012 6:38:12 AM PST by EEGator
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To: sten
It's not worth it but I would never tell that to my child she is going to college next fall. Why should she be short changed in life. My husband has to put his hand over my mouth about all this because she want’s to be a Dr. What is the future of this profession under Obamacare. It's awful.
40 posted on 11/16/2012 6:40:17 AM PST by angcat
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To: roadcat

I could not agree with you more. Kids today have been taught that they are OWED an education / degree. And that degree means they are OWED a job. And that the job had better be a highly compensated position.


41 posted on 11/16/2012 6:58:28 AM PST by taxcontrol
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To: taxcontrol
Kids today have been taught that they are OWED an education / degree. And that degree means they are OWED a job. And that the job had better be a highly compensated position.

In one of my recent jobs as a manager before retiring, I had to hire people for technical positions, sat as lead interviewer on interview panels. Some of these young people fresh out of college were giving me demands on how much they should be paid if selected. I told them the amount was as specified on the application description, no more than that. One girl was actually arguing with me that she was worth much more, demanding an amount $30G higher. Of course, I showed these people the door. I tended to hire older people who were far more appreciative of the opportunity. One guy in his fifties that I hired would always shake my hand and thank me every time he saw me. Young people are mislead into being arrogant.

42 posted on 11/16/2012 11:27:51 AM PST by roadcat
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To: roadcat

I too have sat in the hiring manager’s position. While not 30G higher, I have had candidates tell me that they to were worth more than the position offered. To one young man, I raised my eye brow and then said,

Ok, lets do a thought exercise. Lets assume I have another candidate that meets all of the job requirements as listed and the other candidate is you. The first candidate is willing to work for the stated salary. Tell me why I should pay an additional 10G to hire you.

To which he rattled off a few of the very basic things like, he was prompt, and neat and courteous. After I told him that I expected that from all of my employees, he did not have anything further to add.

He not only did not get the 10G, he didn’t get the job.


43 posted on 11/16/2012 11:35:03 AM PST by taxcontrol
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To: EEGator

“Did those NABA accountants wind up running Arthur Andersen?”

Probably; affirmative action is such a slap in the face to those who benefit from it.


44 posted on 11/16/2012 1:27:45 PM PST by kearnyirish2 (Affirmative action is economic war against white males (and therefore white families).)
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To: kearnyirish2

That it is. It would be nice if we were a meritocracy...


45 posted on 11/16/2012 4:45:06 PM PST by EEGator
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