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More Pressure on Education



July 14, 2008 – Comments (4)

Mish has a post that starts about the economic down turn is Australia, which if you look at their housing bubble, well, it seems to be universal across the country.  I did a post on Australia earlier in the year where I had search a couple lending institutions there and they offered 105 and 106% mortgages.  The affordability index there from demographia was above 5, or severely unaffordable, practically everywhere.  The Australia dollar has gotten much stronger over the years and I would expect it to give back a lot of the gains due to the degree of the housing bubble there.

But, Australia's problems weren't the reason I highlighted this post.  The second half of the post mentions high numbers of private school students returning to the public school system.  What a disaster for education.  I suspect this is going to play out around the world as the well-to-do also struggle with the changing financial system.

4 Comments – Post Your Own

#1) On July 14, 2008 at 11:13 AM, dwot (28.86) wrote:

Death of a Cliche "You Can't Fight the Fed."  I second Big Picture.  I think a lot of beliefs are going to be challenged and changed over the next couple years...

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#2) On July 14, 2008 at 4:27 PM, LORDZPAIN wrote:

So much money is diverted to education, and so much of this money is wasted.

Many schools simply look to pass their students on to the next level, until finally they let their student out to the real world.

And for all this money we've wasted what are the lessons taught and learned ?

Get in debt, get loans, go to school and learn to become another unimportant cog in the wheels of life. Don't worry about the debt ? give us your money, we will teach you to become more docile, we will break you into thinking that you'll get a high paying job with security that will allow you to easily achieve any dreams and repay your debt.

Some students make it, some students are fortunate enough to get their education outside the normal educational institution that has failed its students.

The school of hard knocks, the school of pain and perseverance, the school of everything you are taught is mostly lies to keep you from questioning the stupidity in the system.

Dwot have you heard about the guy who had close to 300k with INDY MAC and only got 172k  of it back. what a nice one day 27.54% haircut.

He thought because he had it broken down into 5 accounts that he was safe, his entire life savings reduced by 27.54% on a misunderstanding and by placing trust in a bank.  I'm sure some supervisor or manager had to see the potential and did nothing to protect their customers assets.

Back to the education part, many of these students either are not prepared or are so poorly prepared that we will have a whole new generation of George Bushes.

C-  D+ students running the world, with the tools of technology and the potential to destroy all that we hold dear.


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#3) On July 14, 2008 at 10:23 PM, dwot (28.86) wrote:

A lot of money is diverted to corporations targeting the education sector.  I started a education technology course and I couldn't believe the wasted resources on that crap.

The professor had work in the sector in the US and talked about how much money was available to develop the stuff and that the wages were good.

Here it has become policy to keep kids with their age group until high school, and that is probably driven by budgets.  It is cheaper to move them forward.  Better funding might change that.  But, there is still all this stuff out there about their self-esteem that you'd be fighting to try and change that.  

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#4) On July 15, 2008 at 8:03 PM, lquadland10 (< 20) wrote:

Hey dwot, When health care and education becomes not for profit again then you will see the prices come down. Who ever let them here in Amercia become for profit should be Aug...... I am still thinking on that.But it is American Greed at its finest.

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