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Burst bubbles: Late 1990's - Tech, 2008 - Housing, Next - College?-- Peter Thiel Was Right

by Joe Mobley
9 replies
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Peter Thiel perfectly describes what economists and countless recent college graduates have discovered: higher education is becoming a dangerously-large financial bubble fueled by student loan debt and it is subsequently often a bad investment.
A large proportion of students choose to follow the rest of their classmates into the seemingly-exciting possibility of living their dream of "living the college life" which likely includes hanging out in dorms, not working, moving away from their parents, and all the while enjoying sex, alcohol, and maybe even some drugs for the next four years, all-the-while expecting a $50-100,000/year job to be waiting for them at the end of it. The reality is much different.

Joe Mobley
  • Profile picture of the author whateverpedia
    John Oliver has his say on the matter:

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    Why do garden gnomes smell so bad?
    So that blind people can hate them as well.
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  • Profile picture of the author HeySal
    Well, gee - I really feel slighted. Why isn't anyone talking about the time MY bubble got busted back around a decade ago? Way to make someone feel totally insignificant in the grand scheme of things.
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    Sal
    When the Roads and Paths end, learn to guide yourself through the wilderness
    Beyond the Path

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  • Profile picture of the author derekwong28
    I agree completely that educational costs have gone way far ahead of inflation for the past few decades. But unlike housing and stock market bubbles, I don't how it will end.
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    Do not get between a wombat and a chocolate biscuit; you will regret it dearly!

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    • Profile picture of the author TLTheLiberator
      Originally Posted by derekwong28 View Post

      I agree completely that educational costs have gone way far ahead of inflation for the past few decades. But unlike housing and stock market bubbles, I don't how it will end.

      I doubt if it will have the negative impact on the larger society that the stock and housing bubbles have had.
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      "It's easier to fool people than to convince them that they have been fooled. -- Mark Twain

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      • Profile picture of the author derekwong28
        Originally Posted by TLTheLiberator View Post

        I doubt if it will have the negative impact on the larger society that the stock and housing bubbles have had.
        I am not sure whether it is going to burst at all. After all, costs kept on going up despite 2008. You have also got a lot of overseas students who are willing to pay.
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        Do not get between a wombat and a chocolate biscuit; you will regret it dearly!

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      • Profile picture of the author seasoned
        Originally Posted by TLTheLiberator View Post

        I doubt if it will have the negative impact on the larger society that the stock and housing bubbles have had.
        HOW DO YOU FIGURE? Did YOU know that there is a FANNIE MAE for student loans? THERE IS! It is call SALLIE MAE! In theory, it could be WORSE than home loans! HOW? For one, NO COLLATERAL or forgiveness.

        Steve
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