Best of the Week
Most Popular
1. Crude Oil and Water: How Climate Change is Threatening our Two Most Precious Commodities - Richard_Mills
2.The Potential $54 Trillion Cost Of The Fed's Planned Interest Rate Increases - Dan_Amerman
3.Best Cash ISA Savings for Rising UK Interest Rates and High Inflation - March 2018 - Nadeem_Walayat
4.Fed Interest Hikes, US Dollar, and Gold - Zeal_LLC
5.What Happens Next after February’s Stock Market Selloff - Troy_Bombardia
6.The 'Beast from the East' UK Extreme Snow Weather - Sheffield Day 2 - N_Walayat
7.Currencies Will Be ‘Flushed Down the Toilet’ Triggering a ‘Mad Rush into Gold’ - MoneyMetals
8.Significant Decline In Stocks On The Cards! -Enda_Glynn
9.Land Rover Discovery Sport Extreme Driving "Beast from the East" Snow Weather Test - N_Walayat
10.SILVER Large Specualtors Net Short Position 15 Year Anniversary - Clive_Maund
Last 7 days
Bitcoin Price Trend Forecast, Paypal FUD Fake Cryptocurrency Warning - 17th Mar 18
Strong Earnings Growth is Bullish for Stocks - 17th Mar 18
The War on the Post Office - 17th Mar 18
GDX Gold Mining Stocks Fundamentals - 16th Mar 18
Nationalism, Not the Russians, got Trump Elected - 16th Mar 18
Has Bitcoin Bought It? - 16th Mar 18
Crude Oil Price – Who Wants the Triangle? - 16th Mar 18
PayPal Cease Trading Crypto Currency Bitcoin Warning Email Sophisticated Fake Scam? - 16th Mar 18
EUR/USD – Something Old, Something New and… Something Blue - 16th Mar 18
DasCoin: A 5-Minute Guide to How It Works - 15th Mar 18
Stock Market Downward Pressure Mounting - 15th Mar 18
The Stock Market Trend is Your Friend ’til the Very End - 15th Mar 18
6 Easy Ways to Get What Women Want, for Less! - 15th Mar 18
This Isn’t Your Grandfather’s (1960s) Inflation Scare - 15th Mar 18
Eye Opening Stock Market Index, Volatility, Charts and Predictions - 15th Mar 18
Gold Cup At Cheltenham – Gold Is For Winners, Not For Gamblers - 15th Mar 18
Upcoming Turnaround in Gold - 14th Mar 18
Will the Stock Market Make Another Correction this Year? - 14th Mar 18
4 Ways To Writing An Interesting Education Research Paper - 14th Mar 18
China Toward Sustainable Economic Growth - 14th Mar 18
Stock Market Direction Is No Longer Important - 14th Mar 18
Trade Tariffs Defeat Globalists and Return Prosperity - 14th Mar 18
Stock Market Crash is Underway and Cannot be Stopped! - 14th Mar 18
Are Energy Sector Stocks Bottoming? - 14th Mar 18
Nasdaq Stocks Soars to New Record High After Strong Job Reports - 14th Mar 18
Bitcoin BTCUSD Elliott Wave View Calling for Rally toward $15,000 - 13th Mar 18
Hungary’s Gold Repatriation Adds To Growing Protest Against US Dollar Hegemony - 13th Mar 18
Record Low Volatility in Precious Metals and What it Means - 13th Mar 18
Tips for Writing and Assembling the Classification Essay - 13th Mar 18
Gerald Celente "If Rates go up too High, the Economy goes Down, End of Story" - 13th Mar 18
Stock Market Selloff Showed Gold Can Reduce Portfolio Risk  - 13th Mar 18
Silver Does it Again! Severe Consequences - 12th Mar 18
Has the Stock Market Rally Run Out of Steam? - 12th Mar 18
S&P 500 at 2,800 Again, Stock Market Breakout or Fakeout? - 12th Mar 18
The No.1 Energy Stock To Buy Right Now - 12th Mar 18
What Happens Next When Stock Market Investor Sentiment is Neutral - 12th Mar 18
Economic Pressures To Driving Gold and Silver Prices Higher Long-Term - 12th Mar 18
Labour Sheffield City Councils Secret Plan to Fell 50% of Street Trees Exposed! - 12th Mar 18
Stock Market Uptrend Resuming? - 11th Mar 18
Bond Market Interest Rate Yields Are Rising Again… Stocks Are on Thin Ice - 11th Mar 18
Death of Europe's Greenest City, Police State Sheffield Labour Council to Fell 50% of Street Trees - 11th Mar 18
Do All Bull Stocks Markets Need to Have a Bearish Divergence? - 11th Mar 18
An Inflation Indicator to Watch, Part 3 - 11th Mar 18
Online Stock Trading Tips - Tips about Online Trading & Day Trading - 11th Mar 18
NDX makes a new high. What does that mean? - 10th Mar 18
Blue Chip Companies on Track for $800 billion Buyback Record in 2018 - 10th Mar 18
Cheap Gold Stocks Basing - 10th Mar 18
An Introduction to Online Forex Trading - 10th Mar 18

Market Oracle FREE Newsletter

Urgent Stock Market Message

There’s a New Mafia in Town, American Dream Dead?

Politics / US Politics May 11, 2017 - 05:10 PM GMT

By: Harry_Dent


Just look at this chart!

If you were born in 1980, you only have a 50% chance of making more money than your parents.

But if you were born in 1950, you had a 79% chance, according to research that Raj Chetty and his team of economists did.

That’s one heck of a drop!

Upward mobility in the U.S. has almost halted. Of course, this is no news to us… and we can point a finger to at least one of the culprits.

Our colleges and universities.

They have essentially become strongholds for a new mafia, one that dons academic caps and gowns!

As I told 5 Day Forecast readers last Monday, the “Intelligentsiosi” have become bloated, greedy and mad with their own success.

Glowing campuses with grand buildings and exquisite landscaping…

Endless tenure and dreamy retirement plans for overpaid paper pushers, and sometimes professors as well…

Uncontrolled bureaucracy…

It’s all become a statue to their egos!

Unfortunately, there are two sets of victims of these crimes.

The first are the students trying to get a start in life. The poor suckers must clamp an iron ball of debt around their ankles just to get through the front door of these higher education institutions… unless their parents are rich enough to fund these stratospheric costs.

If the ball doesn’t drown them right out school, then they lug it around for decades while they slowly chip away at it.

The second set of victims is the rest of us and the American economy!

The situation is now so far out of hand as to boggle the mind. In fact, our healthcare costs, which are twice as expensive as anywhere else in the world, now pale in comparison to how our education costs are rising. See for yourself…

There is no conceivable, valid justification for such inflation!

Education is an information industry!

As we meander through the tail end of the information revolution, the costs of accessing any information continue to decline rapidly. Yet the cost of a college degree is still rising like a rocket to the moon.

People like me and many leading-edge experts could be streamed across college campuses at nominal costs, adding to what’s on offer from the local professors… and how could they be better than the best experts in the world when appropriate?

Computers and technology cost exponentially less today than a decade ago.

TVs and books tend to cost less as well.

So why are costs for education still rising?!

Can’t these Intelligentsiosi see that their actions are robbing Americans of the opportunity for social and economic improvement?!

Upward mobility in the U.S., once one of the easiest accomplishments in the developed, is now ranked as one of the hardest.

Europeans and Canadians don’t have this problem. Their education costs aren’t so horrific, nor are their healthcare costs.

What happened to enabling more Horatio Algers?

Empowering penniless immigrants or citizens so they can rise to success against all the odds?

It seems to me these “wise” guys are more interested in landscaping than the American dream.

Back in the ’90s, when I lectured to successful small business owners at TEC (now Vistage) and YPO (Young Presidents Organization), most were self-made millionaires… not trust-fund brats.

Innovation depends on the ability of the lowest to rise to the top. It survives best from adversity.

Successful people tend to become complacent, so their kids often stumble when they’re adults.

But by withholding the opportunity for higher education – by putting the price tag way out of reach of anyone but the wealthy – we’re killing the golden goose.

It will be the end for our great country if we don’t have a revolution in education, at the very least.

Luckily, we WILL have a revolution.

Right now, the 250-year political and social revolution is converging with our economic winter season. The last time this happened was in the late 1700s. The result was democracy and capitalism – the two greatest breakthroughs of modern history.


I’m talking revolution!

The real deal.

The three greatest impediments to democracy and capitalism are:

1) Special interests, that have taken over democracy.
2) Central banks hi-jacking free markets.
3) Unaffordable higher education, and healthcare.

I graduated from Harvard, but I refuse to send a penny of my substantial charity contributions to them. Still, they have a foundation and fund that is off the charts. So why do they have to charge so much for tuition?!

They do it because they can.

These bad fellas have had the Baby Boomers by the balls for decades. Now they’re holding Millennials hostage: “Pay up or live in your parents’ basement for the rest of your life!”

I can’t wait for the broader bubble to burst because it’ll will cascade across sectors, industries and the world.

It will finally bring everything back down to reality!

Mark my words: A revolution is coming in higher education and everywhere else. It will be painful.

And it can’t come soon enough.


Follow me on Twitter @HarryDentjr

Harry studied economics in college in the ’70s, but found it vague and inconclusive. He became so disillusioned by the state of the profession that he turned his back on it. Instead, he threw himself into the burgeoning New Science of Finance, which married economic research and market research and encompassed identifying and studying demographic trends, business cycles, consumers’ purchasing power and many, many other trends that empowered him to forecast economic and market changes.

Copyright © 2017 Harry Dent- All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Harry Dent Archive

© 2005-2018 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules