Harry Dent Blog | It’s Time To Kick This New Mafia In The Balls | Talkmarkets
Founder, Dent Research
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Harry S. Dent Jr. studied economics in college in the 1970s, receiving his MBA from Harvard Business School, where he was a Baker Scholar and was elected to the Century Club for leadership excellence. Harry grew to find the study of economics vague and inconclusive and became so disillusioned by ... more

It’s Time To Kick This New Mafia In The Balls

Date: Wednesday, May 10, 2017 12:19 PM EDT

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 hell 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 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.

It’s no wonder upward mobility is vanishing faster than crack in a whore house.

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.

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