Degrees of Scam

http://inflation.us/ has a documentary called College Conspiracy. Which puts together a very clear argument against the prevailing assumption that a college degree is a ticket to continued prosperity. It draws a picture of US tertiary education system as a government sponsored scam. And like any business sector, is hell-bent on growth economics ahead of quality. But a constant in the film is student debt. Many students, especially in the US, exit their studies with a hefty mortgage on their brains, before they can even start thinking about debt for property.

But what got me was at 30:50, an unnamed individual enters the screen and touts that the Industrial age does not have long to go and that a Psychology degree is worthless when our species regresses to scratching around for food and water. Oh and the dollar will be worthless due to hyper-inflation anyway.

Now lets take this one point to its logical conclusion. If there were hyper-inflation, wouldn't that mean that ones educational debts would be inflated to nothing along with a worthless currency? The rest of the documentary sounds a bit hollow now. Crippling debt AND worthless currency? No you can't have it both ways.

These gold hoarding inflation hawks, with end of the world prophecies, make things hard for the rational world to make sense of the future.

My thoughts; we badly need a good harsh recession. Its when adversity strikes, that ingenuity, creativity and efficiency become more important for success. Thus. This entrepreneurial spirit is unlikely to come from any formal qualification. So remember kids, find your passion first, then plan your steps to better profit from it.