The Education Bubble

In Australia a large number of able (boys mostly) leave school at the end of the sophomore year and enter the trades and earn a good to great living, and find themselves men at the end of two years of work, hormones conquered, self-confident in their ability to make a life for themselves and a family with their hands, and some fraction decide to go back to school (with a nice nest egg to pay the way.. no culture of loan-based servitude).

And unemployment in Australia is near zero (esp. if you’re able to work in the trades ("if you can hold a shovel or a trowel, here’s a (first) job"), and willing to work non-stop away from family in the minerals or energy business out west).

A work-tourist visa lets a youngster make a wager that an employer will be impressed and sponsor them, and round-trip airfares (to Perth) can be insanely low (i.e. a third the cost is US government fees & taxes).

BillG observes the nature of secondary education is about to change, perhaps radically. Where a $2000 education will likely match a $20K investment (though arguably the $100K investment buys a child into a different strata – the ruling elite, where merit and grades don’t matter). Granted, a revolution is coming that will impoverish the ruling-class, but it may not happen in our lifetimes.

Bill Gates (a curious URL to an amateur video, but safe as of Friday Aug 27)

And for those not in college yet, here’s what Bill uses with his eleven year-old:

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