Monday, July 16, 2012

Peter Schiff Tries to School the Confused Diana Carew

He really could have used a mute button with this one. Carew certainly learned in media class that you should keep on talking.

The fact is that Peter is 100% here. Government financial loans in the education sector have completely distorted the education sector. If government education was a physical structure it would look like government housing projects.

(ht Chris Rossini)

56 comments:

  1. Peter Schiff was right...again.

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  2. She's halfway to being a zombie. It's as if she's been brainwashed.

    Give it a few years and she'll be in government. One thing I've learned such "progressive" zealots is that government is their goal. They cannot wait to boss everyone else about.

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    1. lol, you're right-it's kinda funny:

      "I don't think YOU should be able to decide who can go to college."

      lol...that's right...she wants to make it so gov't decides-using other peoples money(actual or printed up).

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  3. "No degree is worthless"

    LOL...An argumentum ad absurdum would do well here to illustrate how a degree could possibly be worthless.

    Becky spends 100,000, funded by student loans, on her BS in Apple Peeling Theory.

    Diana Carew states "We need to keep investing in degrees! No degree is worthless! It's not Becky's fault the jobs aren't there for her. Employers need to provide these jobs for young students so that they can pay off their loans!"

    Unfortunately, Carew doesn't realize that jobs aren't created based on what young students are doing in college, but both are meant to be based on what consumers desire.

    Student loans are unfortunately only one of the many malinvestments made because of the price control on the interest rate by fractional reserve banking and its enabler, the Federal Reserve.

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  4. "No degree is worthless". LOL Now that is precious. My best friends wife has a degree in fashion management from a major state college. She'll tell you first hand just how worthless her degree is. Because the degree title sounds so bad, she doesn't even list what her degree is in on her resume.

    The really detrimental trend that is going to continue from this "everyone should go to college that wants to" mentality is that colleges are going to be forced to dumb down their curriculum like the public high schools have so everyone can earn a degree. As an employer in the tech industry we haven't hire a college grad in over a decade. They just don't come out prepared well enough in business tech for us to invest in them. Instead we let the big boys educate them and then try to hire them five or ten years down the road.

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    1. We have already started that dumbing down process. I teach at the college level and we have long ago begun teaching developmental courses for those who were unprepared in secondary school. The government, which provides the majority of our money wants to see pass rates that are 'high enough', regardless of the quality of work. It is a dismal thing.

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    2. Sadly I work in social services caring for disabled adults. People sometimes treat me like I'm special for this kind of thankless work. I want to leave the industry badly. Anyway, I wanted to share the insane fact that many of these people who can't feed or toilet themselves officially earn high school diplomas. Many are not above mental-age two and are non-verbal. High school degrees aren't worth much, but it is a huge insult to have such egalitarian policies forced on us. I am avoiding the notion of getting a Master's now that I have been through the system and know how it works.

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    3. Anonymous, you're making me feel bad for using a fake degree as an example when there are so many idiotic real ones.

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    4. I bet this degree exist, Degree in Shakespeare. How will this degree help you in the work force? These degree does nothing to help society, but to pad your own egos

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    5. > How will this degree help you in the work force?

      It'll teach to bullshit smoothly. Great for career in "public administration" or such.

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    6. I graduated in 07 and I have news for you: it's already happened. It's getting worse too. A liberal education at this point guarantees that you will be able to get vociferous and outraged when discussing left wing politics, and that you'll have a decent alcohol tolerance.

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  5. The government doesn't care what your high school grades were. It doesn't care what major you choose. It doesn't matter what your grades are in college so long as you don't flunk out. It doesn't matter what the job prospects are in that field.

    The schools know exactly where students are getting the money to pay for tuition.

    If Tina spends $15,000 a semester to study pottery, the school knows that she got the money from the federal government. Well lets see, if the government was willing to give Tina that much money for this semester, odds are they will give her the same amount next semester.

    What incentive is there for the school to try to lower tuition to $14,500? Absolutely none. The school would be voluntarily forfeiting $500 when the government is more than happy to give it to them. In fact, there is a perverse incentive to raise prices as much as possible. What, is the government going to cut off a student's loan in the middle of earning his degree because the college raises prices 9% a year? Yeah right.

    That is how you wind up with the bubble in college tuition dwarfing the housing bubble.

    http://www.intellectualtakeout.org/library/chart-graph/college-tuition-cpi-vs-us-home-prices-vs-cpi-1978-2010

    Peter gives a great explanation here:
    http://www.youtube.com/watch?v=OwEbO_t30cg&feature=player_embedded

    He is absolutely right. If we ended federal student loans tomorrow what would happen? Would every college permanently close its doors? Of course not. They would see their enrollment rates plummet. Why? Its too expensive. They would SLASH prices like crazy to gets butts in the seats.

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    1. He is absolutely right. If we ended federal student loans tomorrow what would happen? Would every college permanently close its doors? Of course not. They would see their enrollment rates plummet. Why? Its too expensive. They would SLASH prices like crazy to gets butts in the seats.

      They can't be asked to do that. That might require them to dip into their multi-billion dollar endowments that was provided by the taxpayers in the first place. Oh, the humanity!

      When it comes to pure greed, university administrators make the banksters look like Mother Theresa.

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  6. "We need to realize, and as soon as we all agree that education is a social good, we'll all be better off."

    Man, that chick is annoying. Maybe it's my computer, but Peter is looking mighty bronze these days.

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  7. This country is s-carew-ed. At least half the people in this country hold beliefs like this woman, and don't have any intention of allowing facts to penetrate the thick, candy coated shell that envelopes their brains. I'm sure this woman Carew has a lofty degree from an elistist approved institution of "higher learning", which only serves to prove that Schiff (and the rest of us) are correct: many degrees are completely worthless. Especially the ones dished out at the Ivy League schools of communist brainwashing.

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    1. From Progressive Policy Institute: Diana G. Carew is an economist at the Progressive Policy Institute. Prior to joining PPI, she served as a policy analyst at the Export-Import Bank of the U.S., where she analyzed the relationship between exports and U.S. jobs. Previously, Carew was an economist at the Bureau of Labor Statistics where she worked on U.S. employment projections. Carew has a master’s in applied economics from The Johns Hopkins University, and a bachelor’s in mathematics and Economics from Bucknell University.

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    2. ...and after all that she is still stupid. She's a poster child for the "value" of modern higher education.

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    3. Since half the people in this country holds to the same beliefs as this Progressocrat, isn't that a recommendation for a sectional secession....let them take a portion of the country, secede from the union and let the rational side of the people have the rest...sounds like a plan to me.

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  8. why does the left get so many good lookers? talk about not fair.talk about social inequality. im starvin over here! we should subsidize good looking intellectuals education in an-cap, you know, to even the playing field.

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    1. Go on youtube and check out Amanda "abillyrock." She's beautiful and smart. They are out there. Harder to find, but they are.

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    2. "why does the left get so many good lookers?"....

      What? She's about as good looking as 6 gallons of shit in a 5 gallon bucket. She looks stupid enough that she doesn't have to say a word to prove what a ditz she is.

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    3. i stand by my statement. i'd take her out....

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  9. I wrote a letter to the editor in my local newspaper about this two years ago.

    "There is a very simple way to do away with student debt: stop taking out student loans.

    Student loans may be blamed for three issues pertaining to universities today. First, enrolment has increased substantially; therefore universities can charge higher tuition. Second, undergraduate degrees have lost most of their value because of the number of degrees that never would have existed without a student loan program. Third, no chartered bank would ever give out a loan to an 18-year-old student interested in learning English literature or film appreciation, or any degree that didn't have actual worth in the real world. Why should the government step in in order to fulfil this so-called "right to higher education?""

    I was an undergrad at the time. A lot of my classmates stopped talking to me.

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    1. It sure gets lonely being a libertarian. I think most of us can relate.

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  10. I'd wished I would have had an Austrian understanding of college back when I went to school. Going to college may have been the biggest wealth-destroying decision I'd ever made. I surrendered a good-paying job at UPS--I was earning $37,000 in 1986--by going back to college. I was searching. I hoped to find a job that didn't require such physical exertion. I graduated from UC Irvine with $16,000 in debt and a BA in English. A student's life is a life of poverty. I could not imagine what binds could exist if I had a parent paying for that. I endured 5 years of poverty. Job searching with $16,000 made me more desperate. With that kind of debt and no real skills to speak of, there was no position of strength on which I could negotiate. It's this desperation that causes that causes people to take jobs outside their field, rendering the degree and the debt even more useless and regrettable. The first 5 years of a job are devoted to paying off student debt. A friend of mine is still paying off his loans 20 years later. In 1986, I made $37k a year. I had uncashed checks piling up in my dresser drawer. I was able to go on 2 or 3 nice vacations a year. I was able to buy a new car every 4 years. Under a regrettable light, I did the math: 5 years (of schooling) x $37,000 salary @ UPS is $185,000. I surrendered $185,000; that, and bonuses and tips. In 2 of the 5 years of schooling (the 5th year was for a credential) I held 3 part-time jobs at once--6-9am telemarketing, 3-6pm picking up packages for Airborne Express, 7-10pm working in the Library's periodical section to keep a campus roof over my head and my creditors at bay. When I finally graduated with that expensive BA, I got a job: I began earning $26,000. I know. I still want to cry. Loser, Idiot, Gimpel, O, it doesn't begin to describe it. Please, let my life be of some value and let my train wreck be a lesson to all. So with the State's degree, it is official: I am legitimate, a legitimate fool. I did not learn a single skill, at least not a marketable skill, in college. Not one. Some classes were interesting. The more interesting books were the unassigned ones that I read on my own time. My regret there is that none were from the North, Mises, or Wenzel library. Admittedly, universities have lots of smart people. But I could have just paid an entrance fee to go to lectures at Cal Tech or USC. I didn't need a several-thousand degree to listen to smart people. True, the degree is like a membership card, an entrance fee. At least the characters in Greek and Shakespearean tragedies retain some dignity. Gary North has a phrase that should guide every decision anyone makes anywhere, to "Count the cost." There's such pressure in high schools today for kids to go to college to the point where they can't think of other options. The bandwagon technique that enlists the silence of the dumb and acquiescent and indifferent gives me a headache just thinking about it. OBVIOUSLY, Diana Crew earned her degree and legitimacy in one of America's higher education institutions, and she would defend anybody's decision to go to college, would chide me for regretting my wealth-destroying decision, and help me look on the bright side. Where's my Pepto-Bismol?

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  11. Washington DC is chock full of spin-meisters like her (both male and female). They are hired assassins, and if they are good they can out talk and out spin the opposition. In later years they burn out only to be replaced by a never ending supply. So this is what select pricey 'institutions of higher learning' turn out these days. The DC area has among the highest per capita incomes in the nation these days, and the ROI on hires like this, or lobbyists is the reason why. Anyway, Peter fought the good fight, and even Maria 'knows' the scam 'higher ed' has become. Another giant bailout is coming, those that are trapped into all these loans will demand it, and get it. One more nail in the coffin of what was known as America.

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  12. I was astonished at how many of this woman's responses amounted to claims that Peter just didn't exist.

    I work in a developmental college program and I've seen evidence of a scam I had read about previously. Universities are encouraging homeless people to take out student loans and enroll in their programs. These people of course don't graduate or even attend.

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  13. Why do all Bitches interrupt others when they are speaking? Why isn't the moderator running the show instead of letting the Bitch run her mouth? Immediate turn-off.

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  14. Schiff was too gentlemenly in his responses.

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  15. I am forever grateful for stumbling onto the "Peter Schiff Was Right" video a couple of years ago. I've been following him ever since (Reading books, radio show, youtube, etc...). It is also what brought me to sites like EPJ, LewRockwell, Tom Woods, etc... Thanks guys!

    P.S. - This lady is clueless and shows that she clearly DOES NOT understand basic economics.

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    1. Um hello? She not only understands basic economics, she has a PhD in the subject. The subject is Liberal Economics.

      It was established long ago in the land of the bleeding hearts. It is championed by those who are short-sighted. Their emotional arguments have been amassing thoughtless drones for centuries.

      It is truly humbling to witness such a spectacular demonstration of mastery Liberal Economics. Her reasoning is flawless:

      1. I think that X is a good thing.

      2. Because I think X is a good thing, it is therefore a right.

      3. Because X is a right, the government needs to make sure that everyone that wants X can get X.

      4. I know that without government providing X, the free market would fail to provide X as I see fit.

      5. I know the market would fail to provide X as I see fit because free markets are based on greed and profit motive.

      6. Greed and profit are evils that produce inequality; something only government can remedy.

      7. The benefit of getting X will be Y, and even though recent people to get X in the exact method I am advocating are unable to get Y, there is obviously no connection between my method of providing X and the current failure to obtain Y.

      8. Because there is no connection between the government providing X and the current inability to obtain Y, I therefore know that the private sector is to blame for the lack of Y.

      9. If you disagree with me then you must want to deprive people of X. No one can disagree with me for any other reason.

      10. Because you want to deprive people of their right to X in the manner I am advocating, I will not listen to your reasons for your disagreement because I know (a priori) that they are wrong.

      There you have it ladies and gentlemen. Earn your phd in Liberal Economics in ten short steps.

      If you run into difficulty remembering the ten steps, keep the bonus step in mind:

      11. Because X is a good thing and I am demanding that the government provide X to everyone I can claim moral superiority.

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    2. Absolutely beautiful synopsis.

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    3. Anonymous @ 10:19 pm...that was a thing of beauty. May I use that on other web sites? It truly was perfect.

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    4. Yeah, go for it. I just re-read it and found a few mistakes in it but I think I got my point across.

      If you feel like attributing it to someone I go by KJ. If you don't mind posting your email address I will shoot you an email with a revised version perhaps during my lunch or later tonight. I only have a few changes to make.

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    5. @KJ: Why not post your revised version somewhere, and Tweet the address, using the tags #EPJ and #LiberalEconomics?

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    6. Hey, if you wouldn't mind, could you post the updated version on my blog as a comment (to the top post or whatever). Not comfy giving out my e-mail.

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    7. I just emailed it to Mr. Wenzel. Fingers crossed that it gains his attention and support.

      I tweaked it a little and called it the 10 step argument for Liberal Economic Policies.

      I don't have any accounts on social media, but I might have to create one if Mr. Wenzel doesn't post it.

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    8. o nvm can you just re-post it here then

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    9. oh fine. Here ya go.

      http://kjancap.blogspot.com/2012/07/10-step-argument-for-liberal-economic.html


      Feel free to tweet it or whatever. I'm not sure how the whole thing works and if its proper etiquette to tag the hell out of the tweet.

      #LiberalEconomics
      #Peter Schiff
      #EPJ
      #Ron Paul
      etc
      haha

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    10. No problem. Thanks for the encouragement.

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  16. Carew is saying: I am an idiot. People should continue to get college degrees so that they can work forever paying them off with those jobs that don't require a college degree. You can't decide who should go to college, but I have decided that everyone should pay for those who decide to go. This system pays me handsomely, and so I will defend it until it doesn't pay me personally. I know mathematics, not economics. Deep down inside, I hate humanity, but especially men. I am frigid and intolerant of people I might actually learn from to improve myself. While I may have great potential, my decent looks have helped me on my journey of dishonesty and graft. Hey Schiff, buy me dinner. You make more money than me because you are honest, talented and productive. I'm a bitch. Interested?

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    1. Thanks my friend. To boot, this Diana thing has a horrific voice. It could make everyone around her wish they were born deaf.

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  17. Socialism has already won. I have friends who use the same blank stare when reciting statist fantasy similar to the one above. All we can do is prepare for the rebuilding. I've switched to advising my statist friends to stop limiting their small views. Bigger programs, more taxes, more mandatory spending. If they are going to kill the beast, lets make it a head shot.

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  18. Well that explains a lot: Diana Carew once worked for the Export-Import Bank: http://www.progressivepolicy.org/people/staff/diana-g-carew/

    Ya know, the same statist institution even Obama attacked as "little more than a fund for corporate welfare:" http://www.nationalreview.com/corner/294915/abolish-ex-im-bank-already-veronique-de-rugy

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  19. 1. Not enough high skill jobs for college grads (by the way,what skill is she talking about for the legions of film/english/sociology/psychology/keynesian economics etc. degrees?).

    2. Need more student loans to churn out highly skilled students so we can have the kind of high skill jobs we need

    3. Everyone should go to college, leaving no "unskilled" workers

    Maybe when she's talking about skilled work, she's talking about the modern tendency to require certifications and degrees for unskilled or semi-skilled work, whether manual labor or in an office, that was traditionally learned on the job and mastered in a few weeks or months.

    Charlotte Iserbyt and John Taylor Gatto will tell you all about it.

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  20. So to sum it up:

    she would argue that investment in human capital is never a bad investment because she would argue that investment in human capital is never a bad investment... very convincing.

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  21. The only difference between investment vs. speculation/gambling is the result. Considering that everyone lives on for a finite time, spending 4-5 years of students' life and entire careers of many faculties and staffs on academic programs that have no employment prospect is just like wasting building material in the middle of desert on tract homes. That's not investment of human capital, but waste of human capital. Carew is a prime example of good human capital wasted by bad education; such a pretty face would be much more adorable if paired up with a well informed brain, instead of sounding like one of those early 20th century fascist beauties spouting party lines.

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  22. It's pretty clear educating her anymore than necessary was a waste. :LOL:

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  23. Peter Schiff is good and makes good points, but he is always too focused on winning the argument he sometimes looks too condescending. If he took a little more time to explain his position he might do better. An example was when the chick was saying “out of all the things the government subsidizes like welfare and housing then education should be right up there”. That was a great opportunity for arguing for non-intervention in the economy and how in a libertarian society no group like senior citizens, students or anybody else gets a special advantage from the government. Instead he kept hammering the government should stay out of education.

    I think he did fairly well though but we should show respect and compassion to the “bleeding hearts” people. They legitimately want to make the world a better place, they are just misguided on how to do it.

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  24. Shall we call it Bitch voice, or is Bitch more an attitude of an inferiorty complex hiding like a cornered rat?

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  25. She's an idiot. Anyone (with a functioning brain)can see how out of control tuition is and how out of control spending has become with universities.

    Gov involvement=Failure. See a trend?

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  26. Carew is as close to being an imbecile as one can get without falling in. Calling her a moron is giving her a promotion she doesn't deserve.

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  27. lol this is funny. I like Bartiromo though, she has a spark to her.

    She was surely a good 100$ k well spent, Miss Carew. Education is the least controversial bubble of em all. lol

    Probably it is. That doesn't make it any less deleterious than housing.

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  28. While I'm not against all govt. intervention sometimes it can cause distortions in the market like with how the financial aid program has distorted college prices. Costs are rising much faster than inflation

    I think it was also the govt. that distorted health care costs.

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