Hitting the Books
In a 2010 study titled "Leisure College, USA: The Decline in Student Study time," Philip Babcock and Mindy Marks found that the average full-time student at four-year colleges in the United States studied about fourteen hours per weeks down from the 1961 average. Sure college students are working more but even with that taken into account, the fact is college students today enjoy so much more leisure time. It would seem to me more study would see higher grads and maybe even the ability to graduate sooner and thereby cut loan obligation.
The overall premise, however, is whether we are tough enough.
The reality is we are going to have to be sooner or later.
There was a piece in the NY Times about events that are no longer included in the Olympic Games. Some of the events seem antiquated but others make you wonder if we have the toughness to handle the rigors. The 12-hour bicycle race in 1896 saw the winner ride 195 miles. Only three people even finished the race.
I hated the way the market closed although it seems it was off on concerns about Greece and not fundamental reasons. Of course that's the dilemma facing the market and one that saw the market fall completely apart last summer. Between the daily Greece deathwatch and worries about a double dip recession in America and that debt ceiling debate, fundamentals became irrelevant.
Of course, as investors these things are never irrelevant, but we have to recognize when prices are driven by emotions rather than by logic. Late in yesterday's session, there was news the former prime minister of Greece said preparations for a Greece exit of the Euro and Euro Zone were being considered.
This game of chicken is going to be played to the bitter end—and it will be bitter.
I continue to believe Greece does not have the guts to go at it alone. But they know how much power they have to manipulate the entire world for the moment and will take advantage. It's time to call the bluff and move on; it's time for the world to focus on solutions and to take care of our own house. In fact it's time to take a cue from the root of the word "economy" which happens to come from the Greek word "oikonomos."
"Nemein"= To Manage
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