Trent Newsom will be running another meetup event on Saturday October 18th, from 2pm-4pm, on the subject of Education Bubbles.
Bubbles show the best and worst of human optimism. In theory bubbles are not very unique or complicated but they always seem to prevail in the end. Throughout history we have seen this in the rise and sudden crash of different prices. In Holland from 1634 -1638 the rise of tulip prices rose considerably before a lack of consumer confidence crashed the market. The dot-com bubble of 1997 – 2000 resulted from over investment in internet companies. And most recently the housing market in 2006 -2007 crashed after the banks lent too much money to the public to purchase homes. These and many other examples usually grow out of control because many people believe they are on the verge of great wealth but in reality they are at the tail end of a sinking ship. Is this the same picture we see in higher education today? Currently students have accumulated over $1,000,000,000,000 of debt with little hope of repayment. With employment levels decreasing and wages stagnant can we expect the investments in higher education are going to pay off for the class of 2015? Assuming the worst or best depending how you look at it, what will the remains look like if a bubble does burst?
Attendance is free, and open to the public.