Saturday, May 18, 2013

Bloomberg tells middling students to become plumbers

Mayor Bloomberg advises middling high school students to go into a trade instead of college. His rationale is that unless you're a top student, you will get a better return from plumbing and working than four years of college, plus you'll be debt-free.

I'm on the fence, here, but I think he's generally correct. The decision is muddled by your major's prospects and made murkier still assuming college isn't strictly an economic decision. Some people, including yours truly, went because they didn't know what else to do. We all have our reasons, including avoiding trades because they aren't presTTTigious.

The decision is a lot less murky if you're pursuing a liberal arts degree and are thinking of doubling down and taking your 3.2/155 to law school. Just accept that everyone but you realizes it's a terrible idea, find something productive to do, and move on with your life. Especially if you're from Bergen County and attend Siena College.

Saturday, May 11, 2013

Stop me if you've heard this one …

Bloomberg News got a hold of Federal Advisory Council notes from earlier this year. The central bankers acknowledge the government is creating new bubbles in both farmland prices and student debt.

At a meeting in February 2012, the council said "growth in student-loan debt, to nearly $1 trillion, now exceeds credit-card outstandings and has parallels to the housing crisis."

Student lending shares features of the housing crisis including "significant growth of subsidized lending in pursuit of a social good," in this case higher education instead of expanded home ownership, the council said.

As my (lone?) Republican law school professor noted, any time you hear "social good," hold on to your wallet.

Thursday, May 9, 2013

JD Junkyard bites the dust

The forum is gone. Looks like the admin threw in the towel and is letting the domain registration expire today. At least we still have both TLS and JDU. Yay.

Friday, May 3, 2013

April 2013

There was a gain of 2,100 legal jobs in April 2013 and 10,000 year-over-year. Going back to April 2011, there were 1,114,000 jobs. So, things are picking up a bit, about 17,000 jobs over the last two years, but not enough assuage tens of thousands of newly-minted JDs. Matter of fact, things are so rosy that the Alabama State Bar is warning students away.

Not seasonally adjustedApril20121,116,000
Seasonally adjustedApril20121,120,700
Change from Mar-13 to