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Is the College Market Bubble the Next to Pop?

April 26, 2009

What is the Future of the College Educational and Loan System?

By Mike Sanch part 1 of 2 3/23/09

While in my second year in college, I remember hearing some “facts” from one of my “all knowing” professors who quipped that “seventy- five percent of college graduates will not work in the field they studied in.”

I remember considering my expectations as an international business major, and dreaded the idea of my proposed job prospects, which would include the future embodiment of myself frantically running numbers for someone else’s empirical neo-liberal financial service business; all within the luxurious confines of a somber gray cubicle, relentlessly pushing for the top of the corporate ladder, 40 hours a week, and doing the 9-5 every weekday.

The “American” life would come complete with the portrait of my average looking wife encased in a cheap “made in china” frame from Wal-Mart on my desk. I would have it all I mused; my little suburban paradise with the chemical laden green lawn house on the cul-de-sac in the new community that adorns the outskirts of the sprawling metro, which according to the real estate agent would be an “investment.” I would hastily flee out the office a minute after 5’o clock to hop into my gas guzzling S.U.V., only to get stuck and frustrated in traffic, wondering if I would make it home in time to watch Monday Night Football.

I shrugged off such a destined certainty, and thought about how my future could belong to my creative and imaginative mind. It may have been a turning point in my life, an epiphany, or just the smoke that filled my kasa in those days. I don’t know why, but I realized that sort of an American Dream, err, Nightmare reality was not for me.

The veracity that awaited me once I finished business school felt like a daunting future that I wanted to escape from and run as far and fast as I could in the other direction. So I decided to take a left turn into the Liberal Fine Arts College and switched my major to Geography, which I thought would benefit my mind for the future, as a buzz word of those days in Bush’s America was Globalization(Global Terror was another). And besides, do you have any idea how many hours you can experience having wide eyed discoveries while exploring the globe using Google Earth?

So, considering my proff’s fact, I figured if there was a 75% chance I wouldn’t need the degree I obtained, I might as well go for what interested me. As a Geo Major, I have been tentatively satisfied with the curriculum I have been “educated” in, as I have nothing else to compare to. Yet lately, I have began to feel a sense of disillusionment creeping within my liberated consciousness.

It began when I started taking my laptop to school, and using the internet while in class. This was 2005, and I found it truly amazing, in regards to the amount of information I had access to at my fingertips. This was the early stages of internet 2.0, before myspace.com was cool, (before it got corporatized by Murdoch, which made it uncool, as it is in present day) and all the other social networking sites.

Elements of Web 2.0 helped me gain a more rounded picture of the world. If I wanted to see how downtown Mumbai looked, I typed it in on Flickr. If my professor named drop Humboldt , or Nietzsche- Wikipedia.com in a flash!

But most importantly, Web 2.0 allowed me to have access to whatever the professor thought he knew, yet in a more recent, present and relevant package that was easier to consume, as it can be found in video format on youtube, or text with hyperlinks. In essence, I had access to all the knowledge my professor had in a matter of seconds, and at the most minutes.

Economic Situation and the Pending Burst

With all this buzz and media attention directed towards the economic situation in America, the college student’s situation has all been left out of consideration amongst the senseless chatter of the Mainstream Media.

The reality is that the economic situation was brought about by the bursting of the housing bubble, which was caused by the inflation of the monetary supply, has had far reaching consequences across the global economic landscape. As a college student nearing graduation, I have become concerned about the job prospects awaiting myself and fellow college students.

After enduring five years of the factory like, commoditized, packaged version of an education, and going into tens of thousands of dollars into debt; I have began to think that this modern bureaucratic structure, that is the University system, is flawed for many reasons, but I will focus on a few blatant reasons a change is going to be necessary.

For starters, our government has turned us to the loan wolves. The current programs of loans, sponsored and subsidized by the government, yet financed by the privately owned banksters of New York City, has showed the alliance of our government with the Financial Service Industry.(as if it wasn’t already obvious by the Federal Reserve and the U.S. Government plundering our nation into untenable deficits and debt with the recent bailouts.)

Instead of providing our country with a universal education for college students, something that will truly payback a dividend for our society, they decide to fund wars and bail-out usury banksters in the form of T.A.R.P. program and trillions of dollars for the “Bail-outs.” What they are currently doing to the middleclass college student is setting up a life of indentured servitude.

Paying a debt off over 20-30 years is not my idea of freedom.

College is advertised to wide eyed high school kids awaiting beer parties and sexy sorority girls, which in retrospect is true to some degree, however the reality is this: After entering college, and taking the loans; you wake up one day your senior year of college 40 thousand dollars in debt, realize you have been mind f—d and indoctrinated with nonsense in the factory of the Liberal Arts Building that taught you about how Freud came up with the concept of the Oedipus complex. In other words, a lot of what we are taught we are not going to need in this “new” economy. Creativity will be the key.

Is the College Market Bubble Next to Burst?

The Collapse, and The Solution- Part 2 Coming soon!

In the meantime read some ALVIN TOFFLER, YOUTUBE HIM!

“Education rears disciples, imitators, and routinists, not pioneers of new ideas and creative geniuses. . . . The mark of the creative mind is that it defies a part of what it has learned or, at least, adds something new to it.
-Ludwig Von Mises – economist-philosopher

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