You made several points, some of which I agree with, and some of which I don't, but I am just going to address a couple that I consider key.
"More valid predictors are work experience, internships, side projects, and a work ethic. None of which are gained in college. A lot of students think college is enough, but it isn't."
I agree with this statement, but it comes with a caveat you left out. When most people are just starting out, they don't have any work experience with mentioning. The way to get this is to get that first professional job, but having a degree is (for most people) the best way to get that first professional job. Now once you have that work experience the degree matters a lot less, but it is easiest to get that work experience in the first place with a degree.
"This is where the problem starts over the confusion about the customer. Colleges want students to be enrolled for 4 years. If college is hard and students don't make the A's they think they deserve simply for attending class, then the student leaves the university for one where an A is easier. The student consumer is buying a product and their product is a good GPA. A low GPA won't get them a job and that's what they are after."
I largely disagree with this. After going through numerous interviews and hiring cycles as both a job seeker and a hiring manager, I have never asked a candidate for their GPA nor have I been asked for mine. GPA does matter for some things (Grad schools always ask for it, and so do some government agencies) but most employers don't care about it.
"A depression is definitely on the way."
Can you justify this? Most of the economicists I listen to predict that our current recession is going to end by 2010. That of course does not mean we are going to return to where things where. It takes a long time after a recession ends for the economy as a whole (and particularly) jobs return to their previous levels, but it does mean things seem to be getting better, not worse.
Which economists? Most economists I listened to 3-5 years ago thought everything was fine.
I can justify it by looking around at the world. I see an over-abundance of debt. I see too many imports and not enough exports. I see a housing market that is continuing to decline. More layoffs on the way means even more people won't be able to pay their bills. I see that we are spending too much money on guns and not enough money on butter.
I only took micro and macro in college, so I'm no economist, but all the signs are pointing to more decline. I look to history to tell me what the future will hold and it's looking a lot like 1929, years before the depression started.
My question for you is: What is going to pull us up? What value are we going to create that is going to bring us money?
I do not know when the recession will end, but I would prefer a stronger justification before believing that professional economicists like Dr. Duy of the University of Oregon are necessarily wrong about the recession ending around 2010, and saying that we are heading for a depression is a very strong statement indeed.
Yes, the housing and employment markets are continuing to decline. This is expected. We are still in a recession, and even when it ends those are lagging indicators so they are likely to remain bad even after the recession is over. But the rate at which they decline (in other words, their second derivative) has lessened. Also, many of the leading indicators (stock market, bond market) have stabilized.
I do not understand the relavence of your statement about guns and butter, and if this is so like 1929, how so?
I do not know what will end the recession, or even if something specifically needs to end it. The economy is after all cyclic. but you made a very strong and direct statement that we are heading for a depression. Given that this is contradicted by most of the economic experts that are referenced in newspapers, do you have any stronger justification?
"More valid predictors are work experience, internships, side projects, and a work ethic. None of which are gained in college. A lot of students think college is enough, but it isn't."
I agree with this statement, but it comes with a caveat you left out. When most people are just starting out, they don't have any work experience with mentioning. The way to get this is to get that first professional job, but having a degree is (for most people) the best way to get that first professional job. Now once you have that work experience the degree matters a lot less, but it is easiest to get that work experience in the first place with a degree.
"This is where the problem starts over the confusion about the customer. Colleges want students to be enrolled for 4 years. If college is hard and students don't make the A's they think they deserve simply for attending class, then the student leaves the university for one where an A is easier. The student consumer is buying a product and their product is a good GPA. A low GPA won't get them a job and that's what they are after."
I largely disagree with this. After going through numerous interviews and hiring cycles as both a job seeker and a hiring manager, I have never asked a candidate for their GPA nor have I been asked for mine. GPA does matter for some things (Grad schools always ask for it, and so do some government agencies) but most employers don't care about it.
"A depression is definitely on the way."
Can you justify this? Most of the economicists I listen to predict that our current recession is going to end by 2010. That of course does not mean we are going to return to where things where. It takes a long time after a recession ends for the economy as a whole (and particularly) jobs return to their previous levels, but it does mean things seem to be getting better, not worse.