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View Diary: This is all so wrong. (91 comments)

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  •  Your sister in law is approaching retirement! (0+ / 0-)

    So is my cousin, and because they started teaching when they did, they've done all right.  That's less likely now.  Salaries have been stalled for awhile; permanent positions are scarce; the glorious array of benefits bequeathed by old-time powerful unions have been trimmed (way) back and the retirement system is going into adversarial mode with its own constituents.

    Getting out of a masters program at 24 or 25 with $60-80,000 in debt, needing a car and a place to live (or no car and a big-city rental) makes $40,000 a tight squeeze.  Even ten years out. And that's the picture for the ones who get full-time jobs.

    I think the professions are being eroded across the board. Law school, med school, and doctoral programs in the arts and sciences cost a fortune, take forever, and the investment may or may not turn out well, financially.

    It's part of this mediocracy rules trend; what's rewarded/respected isn't brains or perseverance, but opportunism.  Ben Casey, Atticus Finch, Mr. Chips?  No. Try The Social Network.

    •  Opportunism less than leverage and connections. (0+ / 0-)

      Opprtunism made folks like Bill Gates, Mark Zuckerberg and Steve Jobs fabulously wealthy. All had a narrow but real talent which collided with a lot of dumb luck.

      But most of today's millionaires have much less claim to real talent. Instead they're mostly parked at the nexus of paper-pushing pseudo-wealth on Wall Street, receiving $25 million bonuses for moving 'product' like toxic mortgage backed securities. Their "talent" is being a junior fund manager at Goldman-Sachs, whose political connections and hammerlock on capital markets mean a blind squirrel could make money in that job.

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