In times like these, a college student has to question if a four year degree is sufficient for obtaining a career-oriented position after graduation. With a significant amount of the work force out of a job, more and more of experienced workers are taking entry level jobs, while pursuing their Masters or Doctorates. Where does that leave a 22 year old college graduate with a Bachelors? Hung out to dry, with no job and thousands of dollars in loans. It seems now that Having a Bachelors holds the same weight as a high school diploma. The only difference is a Bachelors is a lot more expensive.
So what do we do? Stay in school for another 8 years, or at least until the economy is stable again. The problem with this is, you are accumlating debt with little to no income to pay it. Experts are suggesting that college graduates go abroad ( http://money.cnn.com/2009/04/14/news/economy/class_of_2009.fortune/index.htm?postversion=200941610). Apparently, there is great potential in international markets, and going overseas could be lucrative in the long run. Experts are also suggesting that we lower our standards. We may have to take on jobs that we do not necessarily want, and pursue our career goals in the meantime. Another tid bit would be to stay away from the big name companies. Companies doing the most out of college hiring are small firms.
Tuesday, April 21, 2009
Tuesday, April 14, 2009
To Invest or Not to Invest?
Due to the recent collapse of the economy, millions of people have lost millions of dollars as a result of plummeting stocks. A lot of people have lost their confidence in the stock market, and they have a lot of questions regarding it? When will it be safe, if ever, to invest again? Do the benefits of investing outweigh the risks (costs)? If I do decide to invest in the future, how do I protect myself and my finances from having to recover from this downfall again?
The truth is no one has the definite answer to any of these questions, but coinincidently nothing about the stock market is definite. New "experts" come out every week predicting when the stock market will turn around but none of them really know. For some investors, the benefits of investing will outweigh the costs, but for others it wont. In the stock market, there is really no guarantee of anything, and this was true long before the recession. In spite of this fact, the fact still remains that our economy cannot truly thrive unless we do invest. With that in mind, we cannot truly financially thrive without investing. This recession has actually created a window of opportunity to make a substantial profit (http://money.cnn.com/2009/02/13/pf/light_lesson_crash.moneymag/index.htm?postversion=2009021706). For the first time in American history, this recession has managed to make the prices of stock cheap. Now is the perfect time to purchase cheap but promising stock and wait for a great return!
The truth is no one has the definite answer to any of these questions, but coinincidently nothing about the stock market is definite. New "experts" come out every week predicting when the stock market will turn around but none of them really know. For some investors, the benefits of investing will outweigh the costs, but for others it wont. In the stock market, there is really no guarantee of anything, and this was true long before the recession. In spite of this fact, the fact still remains that our economy cannot truly thrive unless we do invest. With that in mind, we cannot truly financially thrive without investing. This recession has actually created a window of opportunity to make a substantial profit (http://money.cnn.com/2009/02/13/pf/light_lesson_crash.moneymag/index.htm?postversion=2009021706). For the first time in American history, this recession has managed to make the prices of stock cheap. Now is the perfect time to purchase cheap but promising stock and wait for a great return!
Tuesday, April 7, 2009
Universal Currency?
Due to the current state of the United States economy, and its effects on the rest of the world more and more countries are suggesting a universal currency. The US is not for this idea, with good reason. The majority of nations depend on international trading. Some argue that a universal currency would cut down or eliminate the transaction costs that come with international trading. Another reason countries want to adopt a universal currency is to give them confidence in the currencies of their trading partners (http://www.gocurrency.com/articles/universal-currency.htm). A universal currency would hedge against the depreciation of national loans from country to country due to fluctuations in exchange rates.
On the other hand, implementing a universal currency would not be beneficial across the board. Adpoting one currency means adopting one monetary policy with universal interest rates. The
The problem with that is no two countries are ever in the same economic position. What would be beneficial to one country would be detrimental to another. Countries that oppose a univeral currency, such as the United States, are also worried about nationalism. Currency is a part of so many countries' cultures. Doing away with them would take away from the individuality of nations. Finally, creating a universal currency would mean creating a universal bank. This means a select few people would be responsible for the flow of money all over the world. This has disaster writtien all over it. How would we go about appointing these peoople? What countries would have the greatest representation? Too many opportunities for corruption would arise. As you can see the cost of universal currency greatly outweighs the benefits.
On the other hand, implementing a universal currency would not be beneficial across the board. Adpoting one currency means adopting one monetary policy with universal interest rates. The
The problem with that is no two countries are ever in the same economic position. What would be beneficial to one country would be detrimental to another. Countries that oppose a univeral currency, such as the United States, are also worried about nationalism. Currency is a part of so many countries' cultures. Doing away with them would take away from the individuality of nations. Finally, creating a universal currency would mean creating a universal bank. This means a select few people would be responsible for the flow of money all over the world. This has disaster writtien all over it. How would we go about appointing these peoople? What countries would have the greatest representation? Too many opportunities for corruption would arise. As you can see the cost of universal currency greatly outweighs the benefits.
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