Making Money Job

John Rubino at Dollar Collapse.com obviously thinks, like I do, that inflation is a Terrible, Terrible Thing (TTT).

To prove it, and to simultaneously prove to my wife, kids, relatives, co-workers and neighbors that I am not the “weirdest man who ever lived” as concerns inflation, I call him up on the phone!

A man whom I assume is Mr. Rubino answers, “Hello?” and I say, “John! John, old buddy, old pal! This is Mogambo, calling to verify that you are scared out of your freaking mind about how inflation is rising all around the world because central banks, similarly all around the world, are creating more and more money, which causes inflation in prices, which is made worse for foreigners by us dumbass Americans having a trade deficit of over $600 billion a year, equaling a third of combined global trade deficits, which means that we are buying actual things from foreigners and exporting $600 billion dollars overseas, increasing their money supplies and thus increasing their inflation in prices, meaning that we should be buying gold and silver with fevered abandon, and how the usual reaction to impending starvation by the masses is such that we should be building fortresses in our backyards, bristling with guns and cannons, and maybe some of those cool Agent 007 James Bond devices like, you know, smoke screens, ejector seats, laser beams, and heat-seeking rockets, because (my voice rising to crescendo) We’re Freaking Doomed (WFD) thanks to the foul Federal Reserve creating so, so, so much freaking much money that it boggles the mind (‘boing!’) to even contemplate a Quantitative Easing II to effect an increase in the US money supply (to monetize government debt, no less!) of a whopping $600 billion in the next six months, of which half will end up overseas in the accounts of foreigners thanks to the trade deficit, who will use the money to buy US assets, thus repatriating the cash back to the USA to do its inflationary havoc whilst we strangely export the ownership of means of production to what I assume are sinister foreign forces, probably aligned with Illuminati conspirators, New World Order bozos, rogue government agents, extraterrestrial forces, Satan, or something. I mean, who really knows?”

He then replies, tellingly, “What? Who?” whereupon the line abruptly went dead, also proving that the CIA and/or the FBI and/or unknown government agents and/or aliens from outer space are not only tapping my telephone, but doing a poor job of it, too!

Anyway, I think Mr. Rubino’s position is clear when he headlines his recent essay “‘Bring us Sugar!’ US Inflation And the Rest of the World”, with the rest of the essay being about inflation breaking out all over the place!

And if there is one thing that a Junior Mogambo Ranger (JMR) knows, it is to buy gold and silver when inflation is rising, as it is, and will, because the Federal Reserve is creating lots and lots of money, which means, as proved 100% reliable by 4,500 years of history, that inflation in prices is Super Freaking Guaranteed (SFG), and the higher the increase in the money supply, the higher the inflation.

And, by that selfsame 4,500 years, it’s also proved that gold and silver will soar in value as all else Turns To Crap (TTC).

And with that kind of guaranteed and easy decision-making, what can you say except, “Whee! This investing stuff is easy!”?

The Mogambo Guru

for The Daily Reckoning

Economic Ruination from Money Creation to Price Inflation originally appeared in the Daily Reckoning. The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today's markets. Its been called "the most entertaining read of the day."

As you may have noticed, the NYT put up a long article about whether it's worth it to go to law school — whether it's a good investment. The article begins with an anecdote about a young man with $250,000 in student loans and compares his situation to that of a person who bought an expensive house and has a big mortgage loan to pay off. Of course, education is different from a house. You can sell the house, but you keep your education in your head.



Both the house and the education may turn out to be worth less than you paid, but the present-day value of a house has to do with what someone else is willing to pay to take it off your hands. You don't sell your education to someone else. You try to get a job. When you buy a house, you have some expectations about how the market price will change over time. When you get an education you have expectations about what kinds of jobs you may be able to get with it. But so much depends on you. You have to have absorb and process the material the school teaches, you need to present yourself appropriately in interviews, and, once you get the job, you have to perform well. Your services are the product. The education was part of making your services worth buying in the job market. But no one ever purchases your education from you.



Now, why focus on law schools? People buy all sorts of education. It's expensive. And students major in plenty of subjects that are far less likely to result in jobs. Here's where we get to the real meat of the article: Do the law schools trick students into thinking they are buying a bigger boost in the job market than they're really going to get? And it's the old U.S. News and World Report problem. As schools vie for higher ranking, they do what they can to produce statistics that factor into the calculation, and one thing is the percentage of "graduates known to be employed nine months after graduation." Law schools today report an average of 93%, which is 9% more than back in 1997, even though everyone knows the job market for law grads has gotten much worse.



Another statistic that counts in the rankings is median starting salary:

Many schools, even those that have failed to break into the U.S. News top 40, state that the median starting salary of graduates in the private sector is $160,000. That seems highly unlikely, given that Harvard and Yale, at the top of the pile, list the exact same figure....

That is to say, the U.S. News rankings are, on their face, unbelievable.

So the glut of diplomas, the dearth of jobs and those candy-coated employment statistics have now yielded a crop of furious young lawyers who say they mortgaged their future under false pretenses. You can sample their rage, and their admonitions, on what are known as law school scam blogs, with names like Shilling Me Softly, Subprime JD and Rose Colored Glasses.



“Avoid this overpriced sewer pit as if your life depended on it,” writes the anonymous author of the blog Third Tier Reality — a reference to the second-to-bottom tier of the U.S. News rankings — in a typically scatological review. “Unless, of course, you think that you will be better off with $110k-$190k in NON-DISCHARGEABLE debt for a degree that qualifies you to wait tables at the Battery Park Bar and Lounge.”



But so far, the warnings have been unheeded. Job openings for lawyers have plunged, but law schools are not dialing back enrollment.... Apparently, there is no shortage of 22-year-olds who think that law school is the perfect place to wait out a lousy economy and the gasoline that fuels this system — federally backed student loans — is still widely available. 

It's important for prospective students to know what they're getting into. But are they being tricked into thinking it will be easy to become a lawyer, make a lot of money, and love your job too? I don't think so. The bad economy has made the odds worse, but students aren't fools. The NYT focuses on one particular individual, who seems to have been especially unrealistic. (You can go to the article to see the details on this one guy. I don't know why he was chosen as the star of the article.) I think most students do think hard about taking on loans and training for the legal profession. You've got to search for the truth and think hard about where your decisions will lead you and if you want to go there.



Quite aside from the economic issues, many people go to law school only to figure out they don't like being a lawyer. But you have to do something in life. What will it be? What else are you going to do? For far too many young people, law school seems like a specific, sensible choice. Three years of education, and you will be highly qualified for a wide array of respectable jobs. If you're reasonably smart and hard working, you will get through it. But it's not a magic ticket to affluence and prestige.



My advice: Know what you're doing! Think!

Source:http://removeripoffreports.net/

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