Drop Outs are Killing the Economy

[elgreazy1]

Re: Drop Outs are Killing the Economy

All I can say is people aren't that smart and there are more and more of these people everyday in the world. Seems as if society has reached or approaching it's peak and we're all about to go down.

[VanCitySportsGuy]

Re: Drop Outs are Killing the Economy

There is an argument made on msnbc.com that most college grads don't recoup the debt they incur, and if they took that money and invested it or saved it ,etc. they would retire w/more than an average college grad. Not sure this is true, but it is an interesting take.

You have a link to the article? I find it very hard to believe there's an article that takes on that side of the argument.

In today's society, unless you're born into wealth or become a successful athlete/entertainer, your chances of getting a decent job without a post secondary education is really slim.

Every study I've ever read indicates the average wage from a person with a college degree is higher than the average from a person with only a HS education.

But even a College Degree isn't worth as much today. No longer can you apply for a decent job and think you have some sort of edge because you have a degree. Most employers look for a degree combined with relevant experience. Now of course this makes it really hard for new college grads that lack experience. We are in a current economic climate where the employers hold all the power in most areas. Unless your job field is highly specialized or unionized, there are always people out there that would be willing to do your job for less money.

[USF11]

Re: Drop Outs are Killing the Economy

You have a link to the article? I find it very hard to believe there's an article that takes on that side of the argument.

In today's society, unless you're born into wealth or become a successful athlete/entertainer, your chances of getting a decent job without a post secondary education is really slim.

Every study I've ever read indicates the average wage from a person with a college degree is higher than the average from a person with only a HS education.

But even a College Degree isn't worth as much today. No longer can you apply for a decent job and think you have some sort of edge because you have a degree. Most employers look for a degree combined with relevant experience. Now of course this makes it really hard for new college grads that lack experience.

The arguement about working right out of high school and investing is flawed. If you go that route your more likely to incur housing, marriage, children expenses earlier.

If you were in a vaccum then it would be a legit arguement.

[Cebby]

Re: Drop Outs are Killing the Economy

It's not like the past where you could work at Ford starting at 18 and slowly work your way up to higher management without a degree....

I don't think those days are as romantic as people make them out to be.

Aside from the obvious fact that they didn't have the awesomeness of the internet and the pornography it provides, careers in American car companies were basically giant ponzi schemes.

[Brankles]

Re: Drop Outs are Killing the Economy

Wait...

So the economy is doing bad (partly) because people dropped out of school? Don't people with degrees have trouble finding jobs? How would these kids be any different?

It would simply mean more overqualified people working menial jobs. Stats like these always have a story behind them.

[matt8204]

Re: Drop Outs are Killing the Economy

Our Economy was ruined by 2 things.

1) The Greed of my parents generation.
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2) Technology. Technology evened the playing field.

Relying on consumer spending (something that can be quite fickle) for 70 percent of our gross domestic product isn't helping matters either. I mean, do we make or produce anything these days? All we seem to have are service sector jobs, many of which can also be easily outsourced.

[matt8204]

Re: Drop Outs are Killing the Economy

I don't think those days are as romantic as people make them out to be.

Aside from the obvious fact that they didn't have the awesomeness of the internet and the pornography it provides, careers in American car companies were basically giant ponzi schemes.

Can't disagree; incredibly generous pension and health plans, people making $80,000/year to drill holes all day, etc. With all the sweetheart deals they gave out over the years, it was only a matter of time before the car companies collapsed from within.

[matt8204]

Re: Drop Outs are Killing the Economy

One of the things that annoys me most about welfare programs and financial aid are the people who get help from them, with absolutely no desire to improve their situation so that they don't need it anymore. I had this dude on xbox live telling a friend and I how stupid we were for actually working and having jobs while he gets to sit on his *** all day and get paid by the government to do nothing. People like that don't deserve the help they're getting.

Guess he doesn't have much pride in himself. I'd be ashamed to live off government cheese unless I was in dire straits financially and had no other choice.

Time had an interesting column about this; it was exploring the theory that too much government assistance makes people lose incentive to find work, thereby contributing to high unemployment figures. The argument is that if you know the jobless benefits or welfare checks will keep coming, where is the motivation to get up and look for something so you can fend for yourself? If they put a finite limit on the amount of time you can collect, perhaps there would be more urgency for people to get out there and find what they can before the spigot is turned off, even if it's something they might feel is "beneath" them.

[Blaxican8504]

Re: Drop Outs are Killing the Economy

Guess he doesn't have much pride in himself. I'd be ashamed to live off government cheese unless I was in dire straits financially and had no other choice.

Time had an interesting column about this; it was exploring the theory that too much government assistance makes people lose incentive to find work, thereby contributing to high unemployment figures. The argument is that if you know the jobless benefits or welfare checks will keep coming, where is the motivation to get up and look for something so you can fend for yourself? If they put a finite limit on the amount of time you can collect, perhaps there would be more urgency for people to get out there and find what they can before the spigot is turned off, even if it's something they might feel is "beneath" them.

Unemployment benefits typically end after 26 weeks unless you are able to get an extension on them from the state.

[p_rushing]

Re: Drop Outs are Killing the Economy

Guess he doesn't have much pride in himself. I'd be ashamed to live off government cheese unless I was in dire straits financially and had no other choice.

That's also a big problem. There isn't any shame for most people. Most people don't care and take all the free money they can get. There are no feelings of pride in living on your own and trying to make a better life for yourself.

[USF11]

Re: Drop Outs are Killing the Economy

Relying on consumer spending (something that can be quite fickle) for 70 percent of our gross domestic product isn't helping matters either. I mean, do we make or produce anything these days? All we seem to have are service sector jobs, many of which can also be easily outsourced.

Outsourcing is a by-product of technology.

[matt8204]

Re: Drop Outs are Killing the Economy

That's also a big problem. There isn't any shame for most people. Most people don't care and take all the free money they can get. There are no feelings of pride in living on your own and trying to make a better life for yourself.

All goes back to the sense of entitlement so many people have today. Too many folks think the world owes them a living. As Mark Twain said; the world owes you nothing. It was here first. To add to that; the world will also be here LONG after you are gone. It doesn't need you to survive. A little morbid perhaps but it gives you some perspective and makes you a little humble when you're too full of yourself.

[matt8204]

Re: Drop Outs are Killing the Economy

Unemployment benefits typically end after 26 weeks unless you are able to get an extension on them from the state.

They have been extended several times since the recession began due to the length and depth of this particular downturn. I think you can actually collect for a maximum of 99 weeks now. That's almost two years.

[USF11]

Re: Drop Outs are Killing the Economy

All goes back to the sense of entitlement so many people have today. Too many folks think the world owes them a living. As Mark Twain said; the world owes you nothing. It was here first. To add to that; the world will also be here LONG after you are gone. It doesn't need you to survive. A little morbid perhaps but it gives you some perspective and makes you a little humble when you're too full of yourself.

I hate the entitlement arguement. I have a 3.8 gpa in Finance and 4.0 for my masters in finance and I havent gotten 1 interview at a private equity or investment bank. Thousands of Resumes sent.

I think I am entitled to an interview.

[Cebby]

Re: Drop Outs are Killing the Economy

I hate the entitlement arguement. I have a 3.8 gpa in Finance and 4.0 for my masters in finance and I havent gotten 1 interview at a private equity or investment bank. Thousands of Resumes sent.

I think I am entitled to an interview.

Where did you attend school?