Federal Reserve Warns That “College May Not Pay Off for Everyone”

Back in May, the one regional Fed that has come to symbolize everything that is wrong with being a “master of the obvious”, and conducting pre-K level research at the expense of millions in dollars in taxpayer funds, and also the Fed where the current Fed charimanwoman emerges from, that of San Francisco of course, conducted one of its trademark frontal lobe-combusting “studies.” Specifically, that purveyos of intellectual titanism asked (and answered) “Is It Still Worth Going to College?” The SF Fed’s answer, in a nutshell, was a resounding “yes” as one would expect of course: because in a world in which marginal revolving debt demand is virtually zero, the only source of consumer credit – that opiate for the Keynesian masses and certainly for their shamans – for the past five years, is simple: car loans and, to a far greater degree, student loans.
Which is why we were shocked to find today that the “other” Fed, the one housing the most powerful trading desk in the known world, that located at Liberty 33, today issued a research piece with a very different conclusion, namely that “College may not pay off for everyone.” But… that does not jive with the west coast Fed’s kindergarten level, blanket summary. How is this east-vs-west coast Fed rivalry possible?
For the answer, we go to the NY Fed’s paper, presented below.

This post was published at Zero Hedge on 09/04/2014.