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I'd have to agree with you. Real or not, many people are scared. If not scared, they are uneasy.

As an aside, I am amazed by the numbers of middle age folks coming back to college, to finish degrees, or get sesond, even third ones.
Many of the recent grads are doing the same thing. Something is very odd in this picture. Many folks have ebeen sold a bill of goods regarding education, that it will protect you.
Just has competence and skills didn't save the blue collar worker, neither will papers and advanced degrees save the white collar worker.

In fact, I think it's getting to the point that experience, training, and education are making you.....less desirable (more expensive) as an employee, at least in the Multi-National Mega Corp view of things.

Why hire a highly skilled American Engineer, (Accountant, Technican, etc.) when you can hire an Indian (Pakistani, Chineese) with the same basic training at much less cost.

A few will make it, certain professions, but not all. Software/Most Tech/Accounting/Finance is staring over an abyss. Between foreign competition and advanced software, it's over except for the truely elite. Remember, if it can be done over a data link, it can be done cheaper elsewhere. We'll still need a few doctors though, but a great deal of health care can be done via web/data link or by lower paid workers, for example. Maybe Bio-Tech will fill a bit of the gap.

Another survivable class is the self-employed, hopefully in a niche that simply demands people doing things. (until crushed by Mega Corp Competition....don't believe me?...
Imagine a MegaWalMart and Home Depot/PepBoys combo, with plumbers/electricians/carpets/painting on call, full auto service from tires to paint to engine rebuilds, etc, even baby/child care...hehe)

The middling class will linger on. Some will drop out entirely, end their addiction to debt/credit, lower their standard of living and their dreams and expectations and they'll survive. The rest will sink with the masses.

The vast majority will live in a America that bears a striking resemblance to Tijuana or Brazil, not a "shining city on a hill". The isolated projects of old could easily become the majority of Urban America tomorrow.

The super rich will live ensconced in their seperate communities, telling us how we should do more to help the poor.....hehe

Sound bleak? Nah, if you aren't slightly worried, you simply aren't paying attention.

We're not done in America, at least not yet. The next decade will either doom us or redeem us. after that the die is cast for a few generations.....

I guess it didn't take Argentina too long to destroy it's large middle class and now half live the population lives in poverty.

good post. increasingly, the middle class is going to be made up of government workers.

and you are correct about the "education bubble". its already starting with engineering, enrollment is down and its going lower, market forces are steering people away from it. i guess we'll have to make do with even more lawyers. at some point, americans who only have to look forward to working in the service industry will find they don't really need much college, especially 4 year degrees and anything in the sciences.

Why hire a highly skilled American Engineer, (Accountant, Technican, etc.) when you can hire an Indian (Pakistani, Chineese) with the same basic training at much less cost. >>>>>>>

Yes, & let's not forget that mexico now has NO limit on the "NAFTA Visas" (for professionals), that were previously 'capped' at 5500 per year..

Good post. Sounds like the world of "Snow Crash" may still come true.