Trickle Up

No, it's not money trickling up.  Money is rushing up with an audible whoosh.

What's trickling up are jobs — crappy jobs.  All those asshole talking heads telling you how what young people need today is "more education" to qualify for "so many jobs" employers "can't fill" because they can't find "qualified" workers are, pretty much, full of shit.  These days, jobs that used to require a high school diploma — secretaries, sales reps, waiters and waitresses at upscale restaurants — are going to young people with four year college degrees.  Why?  Because they can't get anything better.

A 2-year degree might give you an edge up for a job at Hooters, provided your hooters make the grade, but you'll still be living on sub-minimum wage plus tips.  Unless your hooters are fantastic, don't expect the tips to be too great unless you can get those drooling bastards really drunk.

Then there are the famous "STEM" jobs — science, technology, engineering, and math.  Recently, I met a young man with a four-year degree in physics, but he couldn't even find a teaching job at a high school.  He had attended a well respected state university, and his grade point index was better than 3.5.  Yes, if he'd earned a 4.0 from an Ivy, he might have been recruited by Wall Street.  Too bad, kid.

As for all those "STEM" jobs, expect most of them go to immigrants with H-1B visas, who are accustomed to earning a lot less than native born "STEM" workers.  The main reason there is so much "bipartisan" enthusiasm for immigration reform is to keep wages low.

Will there be some young people who do well?  Of course, if their pedigree is sufficiently correct.  As Billie Holiday sang, "them that's got shall get..."