In inflation-adjusted wages, male college graduates had starting salaries of $20.61/hour in 1979 and $21.68/hour in 2011, while female college graduates had starting salaries of $16.30/hour in 1979 and $18.80/hour in 2011. That’s less than a 5% increase for men, and a bit more than a 10% increase for women. http://stateofworkingamerica.o…
Meanwhile the average college tuition climbed 650% over inflation between 1978 and 2010. http://nplusonemag.com/bad-edu… The results are as depressing as they are predictable. Barely half of all student loans are even in repayment at the moment, with the rest being in deferral or forbearance. Of those student loans that have entered repayment, about 1 in 3 (31%) are currently delinquent (>90 days late), according to the Federal Reserve Bank of New York. That is approaching the peak level of subprime mortgage delinquencies during the housing crash in 2008.
Aggregate student loan debt has virtually exploded over the last fifteen years, from $200 billion in 2000 to $440 billion around the time Obama was elected (4Q 2008) to $1.2 trillion today. Throw that on a graph, and you’ll get the ominous hockey stick-shaped line that foretells nearly every economic crash. Various analyses have tied this surging debt to the stall in the housing market – indeed, 25-34 years with student debt are less likely to be homeowners than their peers without student loan debt for the first time in history – to stalling auto sales (per GM’s chief economist), household formations, and to plummeting levels of retirement savings among the Millennial cohort.
Moreover, the stagnant wages afforded by the *college premium* have driven unprecedented numbers into graduate school, despite the author’s assertion otherwise, and federal data analyzed by the Washington Post last spring revealed that the number of graduate degrees awarded by American universities has increased 63% just since 2000. Regular readers of this website and/or Inside Higher Ed will have no problem connecting that growth to the current job and debt crises in our nation’s law schools, graduate humanities and natural science programs, veterinary schools, and nonelite MBA programs.
On my refrigerator today;
for the first time in a long time,
I noticed a ticket stub held to its surface with a magnet.
The ticket gave access to a Dandy Warhols show.
It was dated 30 May 2012,
which was exactly a year ago.
Time, sometimes, fly-bys…
Its often said that the generations born after Vietnam have never experienced war and are therefore coddled, spoiled, etc., etc., and all of the other garbage that people say when they want to disparge a group of people. This idea was put forth in the Ewan McGregor movie Beginners; but every now and then, I come across it floating around regularly enough. People should push back against this notion. War never disappeared, it just took on different forms and further solidified the ideological foundations on which it is supported. We live in the age of drones and strategic conflicts and kill lists. All of the violence is still here evidenced from the first Gulf War to Bush Jr.’s playtime in Iraq.
I broke down my work week today out of frustration resulting from not being able to pursue other goals and intrests that I have outside of work. At times, I feel like my life is being drained away and I’m just left tired and worthless:
120 hrs exist in a Monday – Friday, 5 day work week.
Here are the rough numbers:
Within this time frame I spend 30 hrs sleeping which is about 6 hrs per night (I get terrible sleep and wake up in the middle of the night and often toss and turn for these hours).
I spend 12.5 hrs per week waking up and getting ready for work and then commuting to work. I wake up at 5 am. I spend 10 hrs per week commuting home. I take public transportation; I live in a bigger city.
I spend 42 hrs per week actually sitting at work around the same bunch of idiots- which is 9.5 hrs per day Monday through Thrusday and 4 hrs on Friday.
All together thats 94.5 hours of time committed to or revolving around work.
During the week I get 16 hrs of free time, about 4 hrs per night Monday-Thursday, 7 pm – 11 pm. On Friday, I get about 9 hrs of free time 2 pm – 11 pm.
That’s a total of 25.5 hrs of free time per week.
Here are the kickers:
I didn’t include anything extra when determining the free time like grocery shopping or cooking or washing dishes/clothes, etc… so its really less “free” / “do something actually meaningful” time than it appears.
Probably most significantly, the free time that I have are what I call the “dreg” hours. The hours left after spending all of my time doing bullshit so that by the time “free time” comes around, I’m too tired to do anything or give a damn.
You can’t win this game if you actually want to do anything real with your life. I feel myself getting more stupid and fat each day.
And yes, I understand that the only way to win is to give in and not push back or look for other alternatives outside of the existing status quo… but if people did that in the past we would all be slaves and our children would be working in sweat shop conditions. People are so quick to forget the past.
jacobinmag.com writes a lot on the topic of work and work conditions and advocates from the prospective that with increased technological advances LESS work and more freedom should be goals to strive for…