Friday, May 14, 2010

Not an Optimist on the Economy? Then Read This

Ticker tends to be a pessimist, and offers 10 'things-to-do' this year, just in case.

Inter alia:

If you're a youngster graduating from high school or in college, do not, under any circumstance, take debt to continue your education

Save 10% or more of your gross income

Get those "sudden stop" plans in place - NOW.

You know what that means: find a nice place in the boonies surrounded by edible wildlife and with fresh water available WITHOUT using electricity.

If you haven't acquired the means of lawful self-defense in whatever form or fashion you deem prudent at this point, the time to do so was yesterday.

Yah, hey: Buy More Ammo!!


J. Strupp said...

This guy sounds like sort of a fruit cake.

Still, saving 10-12% of your income has been the rule of thumb forever. We (especially my generation) seemed to forget that in recent years.

As for tuition, I think it's a bit too strong to say that students should, "...not, under any circumstance, take debt to continue your education". Like the article says, if your ROI is relatively short, then go for it. The interest payments on, say, $30,000 of tuition debt is managable if the rate is 3% or if it's 10%. If your debtload is 3 times at amount, then that's a different story.

Of course, a modest college tuition debtload is a lot easier to manage than, say, not having a job for 3 years because the highest level of education you achieved was a High School diploma.

P.S. Repeat after me: The U.S. government is not Greece. The U.S. government is not Greece. Not even in the same ballpark.

Dad29 said...

Oh, really, Struppster?

The notion that a four-year degree is essential for real success is being challenged by a growing number of economists, policy analysts and academics. They say more Americans should consider other options such as technical training or two-year schools, which have been embraced in Europe for decades.

Only 1960's leftovers in HR (and other 'management' slots) believe that a 4-year degree has anything to do with capability, capacity, and willingness to work.

AND, of course, college profs and administrators.

J. Strupp said...

Hey I agree Dadster. A 2-year tech. degree or a skilled trade works just fine too.