It reminds me of something that happened years ago, when I moved from Texas to Syracuse to start grad school.
"What we are seeing is Russian-backed aggression, often these are Russian troops, they are Russian tanks, they are Russian Grad missiles.
There would be two others in the coming years, during grad school in Maryland.
Assuming a high-school grad or drop-out works perhaps five more years than a college grad over the course of their lifetime, what would you have to invest to end up with about $260,000 after 45 years at a return of 3% per year?
After all, if the lifetime wage premium for a college grad is a million dollars over 40 years, then how much is four years of college worth today?
For instance, Canadians are furious about the softwood lumber dispute (I had to spend an entire month on it in grad school), and are just itching to clobber some Yankees over it.As Canadian Prime Minister Stephen Harper said (warned?) yesterday, "If any American government chose to make the mistake of reopening that we would have some things we would want to talk about as well".
A grad student from a wealthy family with a lot of possessions and family assistance who's earning a below poverty level stipend for a year isn't poor, despite being under the poverty line; a family living in an area with high housing costs and making an income slightly over the poverty line is poor, despite not meeting the definition of the defined term.
Suddenly that $54,000 salary (which is what The Economist reports as the unadjusted salary of an IIM-A grad) doesn't look so lavish.
The basic salary a grad from a "top five" school can expect ranges from $112,000 at Kellogg to $127,000 at Stanford.
(She is, among other things, the first Rice grad to hold the city's top office).*Just drove past a strip-mall shop offering "Hair & Nails Investment & Realty".
"Poor" and "poverty" refer generally to a state in which one's lack of economic resources is a problem; whether that specifically means Pat Moynihan's 'underclass', or a grad student living on ramen noodles, or even a house-poor family who overspent on a McMansion and are now, despite a decent income, fearing foreclosure.
