On a page titled "The Education Scam" and uploaded on this site on top of this same list in March 2000, I stated that the colleges and universities had promoted the false concepts that, if every one got a college degree, it would eliminate poverty in this country and that, if you don't have a college degree, you will live in poverty. I discussed why that was not true and, if you have not read it or have not read it for a while, you should read it before reading this page. This page is an update for that page.
On the page titled "The Education Scam" I predicted we would reach a point within the next three to five years (by 2003 to 2005) where young college graduates fresh out of college would start finding it impossible to get jobs with their college degrees. Here we are three years later in May of 2003 and I saw a television news item last night which covered the increasing problem of young college graduates not being able to find a job with their degrees. Gee, who woulda thunk it?
In this news item, they discussed how increasing numbers of students are still unable to obtain a job with their degrees because they just can't find work. Thousands have been unable to find a job for a year or more after graduation.
What are the colleges saying about this? One college representative said that it isn't that the jobs are not there but that the students are not trying hard enough. He stated that, if they would just start looking sooner and try harder, they could all get jobs.
Let me get this straight. The colleges are saying that there are thousands of college graduates who worked their butts off for four or more years of college to get a degree so they could have a good paying job and the students are not finding jobs because they are too lazy and would rather work making minimum wage than just try to find a good paying job?
Yeah, right! If you believe that, send me your name, address, and phone number so I can sell you another bridge. I could use the money.
Basically, the colleges are trying to dodge the bullet by laying the blame on the students. Plus they don't want all you mom's, dad's, and future students out there to know that there may not be a job for you after you spend four or more years and from tens to hundreds of thousands of dollars to get a degree. Why? Because they want to keep the demand for college educations high so they can keep the tuition high so they can keep their jobs and keep their salaries high. We call that greed and they don't care who they hurt as long as they get the good bucks.
So what do I see happening in the future? A number of things will happen at about the same time.
It will probably take a while before the public and media learn that there really are not enough jobs out there for all the college graduates and that most of the college students are wasting their time and money going to college when they should be going to a trade school. When they do realize it, the colleges will try to dodge the bullet by acting dumb (this may not take too much acting) and blaming the economy.
Eventually, the people and media (I don't consider some of the media to be people) will realize that they have been lied to and there will be a vicious backlash against the colleges and universities. If they can show that the "studies" which were used to scare people into getting college degrees, were fraudulent and/or that the administrators and/or professors knew there are not enough college related jobs for more than 20% of the work force, then there will be trials for fraud and careers will end.
There will be a lot of people stuck with large amounts in college loans with no jobs to pay them off. The government will have to start forgiving most of these loans or the economy will suffer considerably because these people will have a diminished disposable income.
Remember that I told you there is an increasing surplus of workers with college degrees and an increasing lack of skilled labor. I also told you that the businesses would have to start bidding up salaries for skilled labor or go out of business and would have to take that increase in salaries from the salaries for college graduates. We will soon begin to see reversals in salaries and social prestige between college graduates and skilled labor. This means that most yuppies are wasting thousands of dollars sending their children to expensive pre-schools which their children wont need to get into vocational schools.
This will cause a mad dash to vocational schools by the younger people and leave a lot of college classes empty. The faster thinking and more survival prone colleges, especially junior colleges, will convert from the current college formats to becoming vocational schools. Most of the colleges who hesitate to make this transition will go broke and a lot of college professors and staff will find themselves turning burgers.
We are going to see a pretty massive socio-economic upheaval in this country. Don't be surprised to see protests and even some rioting in the streets as some very mad and very well educated young people express their opinions about this fraud. We might even see a few college professors and presidents dragged through the streets.
In studying military history, it is taught that people don't revolt because of poverty. What causes most revolts is unfulfilled expectations. Most people have lived in poverty for thousands of years without rioting. What normally happens is that the people expect to obtain a certain standard of living and because of some action by others, their expectations are not met. If the difference between the expected and the realized is great enough, the people become mad enough, organize, and revolt.
We now have an increasingly large group of very well educated and informed people who will soon realize that the very high expectations promised to them by the colleges, media, and government (especially liberals) cannot ever be realized. These people have been trained to communicate and organize very well, know who lied to them, know where these people live, and will be very disappointed and angry.
I believe that there will at least be some very large and angry protests forcing the US government to forgive college loans and possibly make some sort of retribution for other expenses including time and text books in order to keep the peace. How far will these people go? I don't know but I wont be surprise to see some designer tar and feathers being worn by some of the people responsible for this socio-economic mess. It will be interesting to see just how this turns out. It could take the next 10 to 20 or more years for the dust to settle on this one.