Bill Gross is a big, big player in the economy. As the head of PIMCO, his words mean something. In his latest report, Bill is highly critical of two views: (1) college education now is working for students, and (2) deficit reduction will enable our economy to recover.
First, he focuses on the increase costs of college education that no longer produces students that can be gainfully employed, as a general rule. He thinks that college is now subservient to the needs of the college rather than students. He likes the offer for some students to leave college and try to develop their own entrepreneurial ideas. Focusing on more technical knowledge related to the needs of modern industry is essential.
Secondly, he endorses views that I can support about the need of government intervention to get our economy into the right orbit! He (and I and many others) consider the notion that deficit reduction plans, as voiced by Republican conservatives, will do the trick is crazy! When there are options available that will increase employment while meeting needs of our nation, e.g., infrastructure bank, are not implemented is only to delay the recovery while leaving our infrastructure needs still unmet.
We can address the long-term deficit requirements without holding hostage the needs of our current situation.
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