Saturday, August 6, 2011

ASIDE: ON ANY GIVEN DAY THE GODFATHER OF LINKAGE, INSTAPUNDIT, LINKS TO AMAZON MORE THAN ANY OTHER SITE

JUST SAYING...

NOT LINKS TO BLOGS OR NEWS SITES - TO AMAZON. ABOUT 10 TIMES A DAY.


THEN HE LINKS MOST TO OTHER PJM SITES - WHICH HE ALSO GETS PAID FROM.

JUST SAYING.

BECAUSE SO MANY OF YOU OUT THERE THINK OF HIM AS GIVING YOU GREAT LINKAGE.

HE DOESN'T.

HIS LINKS ARE GENERALLY LATE, AND TYPICALLY SKEWED - NOT BY HIS OPINIONS, WHICH ARE GENERALLY OKAY AND WHICH I GENERALLY AGREE WITH - BUT HOW THE LINKS BENEFIT HIS WALLET.

THE BEST IN DAILY CONSERVATIVE LINKAGE IS HERE:


AND THE BEST IN HOURLY LINKAGE IS HERE:


AND THE BEST ALL-ROUND COVERAGE IS HERE:




JUST SO YOU KNOW...

ADDENDUM:

THE NEXT THING THE BLOGFATHER POSTS MOST ON - RIGHT AFTER LINKING TO AMAZON - IS WHAT HE MISTAKENLY CALLS "THE HIGHER EDUCATION BUBBLE".

HE DID IT AGAIN JUST NOW:
Easy credit, high tuition, and poor job prospects have resulted in growing delinquency and default rates on nearly $1 trillion worth of private and federally subsidized loans.
GLENN CONFLATES, "Easy credit, high tuition, and poor job prospects" WITH A BUBBLE.

A BUBBLE IS A RAPID AND EXTREMELY STEEP INCREASE IN THE PRICE OF SOMETHING. IT IS FOLLOWED NOT BY A STEADY DEFLATION, BUT BY A BURSTING OF THE BUBBLE.

1 - THERE HAS NOT BEEN A RAPID OR STEEP RUN-UP IN COLLEGE TUITION; IT HAS BEEN A SLOW STEADY PRICE INCREASE, ALBEIT ONE THAT HAS OUT-PACED INFLATION.

AND IT HAS BEEN OUTPACING INFLATION FOR 3 DECADES -

SO IT IS THE CUMULATIVE EFFECT
THAT HAS MADE IT SO EXPENSIVE
AND IT IS THEREFORE NOT A BUBBLE.



NOTE:

THERE WEREN'T ANY HIRING PROBLEMS
FOR HIGHER EDUCATION GRADS
FOR THE FIRST 2.5 DECADES.


THE HIRING AND HENCE THE LOAN-REPAYMENT PROBLEMS
ARE DUE TO THE RECESSION,
AND NOT ANY IMAGINARY BUBBLE.



2 - THERE HAS NOT BEEN A RAPID OR STEEP INCREASE IN THE NUMBER OF HIGHER EDUCATION GRADUATES; THERE HAS BEEN A SLOW STEADY INCREASE.



3 - THE POOR JOB PROSPECTS ARE NOT DUE TO A SUDDEN DISINTEREST IN HIRING HIGHER EDUCATION GRADUATES - OR TO AN OVERSUPPLY OF GRADUATES - IN A NORMAL ECONOMY, BUT STRICTLY DUE TO THE RECESSION.

EVERYONE IS HAVING A HARD TIME
GETTING JOBS AND REPAYING LOANS,
NOT JUST HIGHER EDUCATION GRADUATES.


IN FACT, IN THE CURRENT THE RECESSION - (BOTH THE FIRST ONE AND THE CURRENT DOUBLE-DIP) - COLLEGE GRADS ARE FARING MUCH BETTER THAN THOSE WITHOUT COLLEGE DEGREES.

SO, GLENN IS WRONG ON THE FACTS
AND WRONG TO USE THE TERM "BUBBLE".

ONE THING GLENN NEVER MENTIONS IS THAT HIGHER EDUCATION COSTS HAVE POUT-PACED INFLATION DUE TO TENURE.

COULD IT BE BECAUSE HE IS TENURED?

YES, I THINK SO.

PS:

SOME BLOGGERS WONDER WHY I DARE TAKE ON INSTAPUNDIT.

IT'S SIMPLE: I AM BRAVE ENOUGH TO TAKE ON THE JIHAD. SO I AM CERTAINLY UNAFRAID OF GLENN REYNOLDS! HEH.

I TAKE ON ALL THAT I SEE IS WRONG AND BAD.

AS BRIT HUME USED TO SAY: "UNAFRAID."

No comments:

Post a Comment