Thursday, October 6, 2011

"Educated" Wall Street Protesters

Nationwide Americans have swallowed the notion that a college education is necessary for success in life, a notion fed to it by the education establishment and promoted by the government, which numbers as one of its largest supporters the education establishment!

How do the supposedly educated people protesting on Wall Street not see or question this conflict? Did none of them wonder what they were going to do after graduation with a degree in Sociology or English and $150k in debt? Was there any thought involved when they decided what and where to study?

Why would any bank lend money to them for such ill-conceived investments? Here's a clue: for the same reason that so many unqualified persons were able to purchase homes they could not afford--the government guaranteed the loans. So, just like with the housing crisis, banks threw judgment out the window when they lent them money, since the banks had no risk. When banks lend money to a business they consider whether it is strong enough to pay them back. Did the banks that lent the protesters money even ask what they were majoring in?

The key to capitalism is that capital acts rationally in its determination of where it is allocated. When the government gets involved you end up with dislocations--in the form of soaring tuitions and housing prices. The system being protested is certainly not capitalism, and calling it that only shows shows how completely the protesters been taken by the double-speak of the Left.

So to all these kids protesting that they can't afford the loans they took out for their liberal arts degrees (my guess is that there aren't too many engineering students in that crowd), I say you have been fooled into thinking that no price is too high for an education, though its clear that many of you now understand that not  to be the case.  

1 comment:

  1. You mock English degrees, but you could certain stand to sit in some English classes at a university to learn how to write and use English grammar properly!