Posted Apr 25, 2019 by Martin Armstrong
There have been studies on the riskiest jobs where stress causes higher rates of suicides. The medical profession seems to be at the top of the list, which now amounts to some 11 million people. However, there is also a growing list of students committing suicides over student loans, which is the number one debt among the youth that is blocking them from buying homes. Students committing suicide over student loans is not limited to the United States. They are also taking place in Britain.
Those with student debt have a higher risk of committing suicide than those who do not. My advice is NOT to borrow for a degree that is usually worthless anyhow. Rare have I ever encountered anyone, even as a CFO of a major corporation, who has a degree in economics or accounting. It is now true that this generation is less likely to be working with a degree. I would prefer to hire someone without a degree who has an interest in the field, simply because what is being taught is wrong. It would require retraining which is too time consuming. The list is growing of top companies that no longer require degrees for employment. The Romans had basic school like high school and then you went to become an apprentice. Then you actually learned real skills. Today, students have to take classes they do not need to simply get a degree. They are forced to buy the book written by the professor which is typically $150+. All of this is combining to create the new Lost Generation.