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“Whenever you find yourself on the side of the majority, it is time to reform (or pause and reflect).”
― Mark Twain
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Most American's Don't Believe College Is Worth The Cost
Americans’ confidence in the value of a four-year college degree has sharply declined over the past decade. A new NBC News poll shows 63% now believe a degree isn’t worth the cost due to high tuition and limited job-specific skills, a major shift from 2013 when most Americans viewed college as a good investment. Gallup found a similar drop, with only 35% now calling college very important, compared with 70% in 2013. Rising tuition, shifting labor-market demands, and the impact of AI on jobs are key factors. Although college graduates still tend to earn more, experts note the wage advantage is shrinking. The decline in support spans demographic groups but is especially steep among Republicans, amid growing concerns that universities are politically biased or not teaching the right skills.
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Most Americans also assume the President or the Fed will step in to rescue them. In other words, we don’t put much stock in what the majority believes.
College feels less appealing today as its cost soars and opportunity for degree holders diminish. As we have discussed numerous times in the Economy & Stock and US Bond Reports, an economic cycle more than anything else, is driving this outcome. Today's college graduates face unemployment rather than job offers, and young generations see older ones burdened with debt, applying to hundreds of jobs, and landing roles that don't justify the enormous expense of an education. Universities, driven by the Disney model of foot traffic and endless incremental charges rather than labor market alignment, continue producing degrees in fields with shrinking demand. Automation, offshoring, A.I., and more are reshaping the definition and value of a white-collar workforce. Contrary to popular opinion, degrees never secured careers. Intelligence, ambition, and persistence do. Healthcare and the trades, now positioned as resilient choices and hard-to-outsource, will be challenged by A.I. and Optimus robots eventually. Only creativity and critical thought, two things hardly taught anywhere, cannot be replicated.
People see what they believe. We're often told that seeing the opportunity in gold and silver was easy. It's easy once the trends became established for everyone to see. Let's see how smart everyone is, college or non college, white or blue collar, when it comes time to sell. Creative thinkers will see it coming. Blind rule followers will not.
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The Matrix provides market-driven trend, cycles, and intermarket analysis.
