DON’T CRY FOR ME ARGENTINA, OR IS IT AMERICA? – College Debt Forgiveness is Indictment of A Failed Public Education System!
Disclaimer: Good Day, Readers. WealthBuildingPowers blog is a financial literacy/competency blog and does not provide specific investment recommendations.
STYRON’S INTRODUCTION
Education gives us the competencies to earn! STYRON RULE #1: EARN MORE THAN YOU SPEND! Some may attend college, trade schools, etc.
Today our U.S. education system, K-12, and Universities are a BROKEN HOT MESS.
“The latest results of an international exam given to teenagers ranked the USA ninth in reading and 31st in math literacy out of 79 countries and economies. America has a smaller-than-average share of top-performing math students, and scores have been flat for two decades.”
The U.S. is failing to learn the lessons from the destruction of Argentina’s economy. Instead, we appear to be writing the song “Don’t Cry for me America”!
College Debt Forgiveness is Indictment of A Failed Public Education System
George Wong, in his own words.
President Biden’s college debt forgiveness is an indictment and outright admission that our public schools and their teachers’ unions have failed American students. The teachers’ unions demanded more pay and less facetime with students, so the schools eliminated the arts, music, industrial technology, and vocational curricula. The politicians, school administrators, and teachers’ unions changed the narrative to schools preparing “college for all.” It did not matter that industrial technology and vocational curricula in high schools provided an alternate path for students in addition to building America’s workforce readiness for skilled labor over the decades. The schools are currently feeding colleges with students who borrow money to attend colleges for which they are not suited and for educations that are not needed. In Jason Riley’s Wall Street Journal article on September 7, 2022, he pointed out that 40% of those who start college don’t finish and that 40% of the recent college graduates work in jobs not requiring a degree.
Politicians, schools, and teachers need to fix the schools rather than diluting the education, passing students through, and demanding that colleges and employers lower their standards to accommodate a failed educational system at a lower level. American high schools must rebuild and maintain strong industrial tech and vocational curricula. America must regain its workforce readiness for skilled workers and train its knowledge workers. China has it figured out through its industrial tech and vocational high schools where the students live on campus. American student achievement continues to fall in the global rankings. Meanwhile, American politicians and teacher unions are too busy moving the starting lines in the name of equity. It is time to recognize that American students must have choices. Time to think differently —- how about an industrial tech & vocational Charter School?
Thank you George.
ABOUT THE AUTHOR: George Wong – Senior Advisor at Shark Wheel LLC and Senior Advisor at Intex Industries (Xiamen) Co., Ltd
George Wong is semi-retired and continues to work as senior advisor to two companies, owner-manager of the family’s commercial and multifamily real estate, board member in two non-profit educational organizations, and manager of several stock and bond portfolios for extended family. His professional career included stints at Price WaterhouseCoopers as a management consultant, a commercial real estate firm as developer/portfolio manager, a commercial printing company as COO, a legal document management systems start-up as V.P. Operations, RR Donnelley Financial Print as Plant Manager, Coldwell Banker Residential Brokerage as Finance Manager, Intex Plastics Division as Senior Advisor, and Shark Wheel Inc as co-founder-CFO-Senior Advisor. Out of college, he was a middle school teacher at Inglewood Unified Schools and worked for two federally-funded organizations advising minority-owned businesses. His previous community involvement included the turnaround of a Pasadena unit of the National Urban Coalition, board membership in the Pasadena chapter of the Urban League, and advisor to the California Senate Select Committee on Small Business Enterprises. George was raised in South Central Los Angeles, where his entire education, from elementary to graduate school, was obtained within a three-mile stretch on one street. He remains active in south Los Angeles as a board member at a state-funded child-care center for low-income parents that he helped found 40+ years ago and working with the tenants at the family’s commercial buildings to keep the tenants (all people of color and immigrants) in business. He has been married 40+ years and has two highly successful sons in business, following degrees at two ivy-league schools and the University of Michigan. George has degrees in Aerospace Engineering, Education and an MBA from the University of Southern California. George still competes in the 50 Meter and 100 Meter Dash. He is very proud to say that his understanding of the business world and finance comes from reading the Wall Street Journal every day since he was 15.
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ABOUT ME
I am a proud nerd (as my beautiful wife and daughter have told me) investment and finance blogger with an N.C. State, Chemical Engineering, University Rutgers, MBA and Harvard University, Advanced Management education.
I left a corporate career because I desired to make a difference as a speaker and writer. I was blessed to be coached and mentored by strong women and men in my family and professional life. It is my time to serve and give back.
DISCLAIMER
I started my first business at ~13 years of age (a small but brilliantly created plant nursery). I am a successful investor in stocks, options, and real estate and am happy to share my finance and investment lessons. I am NOT a licensed financial advisor. Please do not construe my suggestions on this blog as recommendations for your situation. As an investor, you must establish your risk/loss tolerance. Investment in any asset involves risk, including complete loss.
Please seek your licensed CPA or fiduciary financial advisors for individual financial advice.
I write this weekly blog to make an impact by reaching an audience and demonstrating the need for financial literacy. I will help you get there.
