The glass I drink from is not large, but at least it is my own.
-Alfred De Musset
As the Great Recession lingers on for the hardest hit, there are many suggestions to make sure we don't face this predicament again. Of course it's silly to think we can completely escape boom and bust cycles, although we can make the boom part last much longer in the future. Interestingly, President Obama has said he would undo this cycle, but he may have stopped it in the midst of the bust part. Be that as it may, what's happening these days is the notion that people should lower their aim and in the end avoid heartbreak and hard landings.
People are being told to forget owning a home-home ownership isn't for everyone.
People are being told to forget going to college-a degree isn't for everyone.
People are told to forget being rich-this should be a country with a single giant middle class.
I flat out reject all of the above. In fact, I think Americans should continuously strive to be part of an ownership society. They should own their own homes, own a large bank account, and own a great education. Yes, I get that a lot of people with no skin in the game bought homes and saw them crumble in value triggering the Great Recession. I know student loan debt has cleared $1.0 trillion, and for some it appears to be the largest bubble out there simply ticking away. I get it that the reward for greater earnings is higher taxes and public scorn-I get it.
I get all of those things have some merit, but who gets to decide on whose good enough for college and shouldn't take their last penny to buy the centerpiece of the American Dream-a home to really call their own.
I worry there is so much noise about limiting individuals and their freedoms that we will all lose something important in the process. I actually think it's people that aren't necessarily self-starters that should go through the demands and rigors of college and the geniuses like Bill Gates could actually afford to dropout and still pursue success with an early start. The other option is military service, as many people have never been pushed or never had interest and often that's mislabeled as not smart enough for college.
The fact is people should love learning and have an appreciation and pursuit of knowledge (a lifetime commitment). Sometimes such passion can be unlocked or "discovered" by a person otherwise considered too risky for college. One thing is for sure, it's not for strangers to decide.
New Time 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for Thursday April 24th, 2014 | John Ransom