Learn a Global Trade

Said a critic of higher education:
"It's (for many) a four-year vacation,
Which begets student debt
With no useful skill set,
As they'd have if they'd learned a vocation."

Bill Gross, co-founder and -CIO of Pimco, and manager of the world’s biggest bond fund, published a scathing outlook on the US education system. Noting that the average college undergraduate now leaves school with $24,000 of debt and diminishing job prospects, Mr. Gross concludes that, for millions of young people, college is “a waste.” Taking a suggestion from Fareed Zakaria, he proposes to get students out of the ivory tower and into German-style technical training for globally competitive skills.

Hat tip to the Zero Hedge blog.

Overheard at the Offices of PIMCO

"Deflation is viewed with frivolity
By many in Washington's polity,
But if prices are sinking,
We'll stock up, I'm thinking,
On Treasury bonds of high quality."