Will the economy be better in 2015? Forum

[Gail]

Actually. Not really an "econ person" as in, I didn't major in Econ, but I did major in something that has more to do with hiring and jobs. I think that the economy will do well in the next 5 years.

Jobs are a lagging indicator. I'm not sure that it will be the greatest bull market for a generation, but it will be more normal.


That's not the whole picture for us though. I've been resisting it for a long time, and even though I do think that a rising tide will float all boats, even depressed lawyerly boats, our industry is changing. The service economy is changing. Too bad we didn't become MCS majors.

[beachbum]

I mean, it all depends on your personal circumstances. It's difficult to make sweeping generalizations about when law school is or is not "worth it," other than at the extremes. It's not going to be worth it, for example, for the TTT-bound student who is taking on substantial debt and who has only a passing interest in becoming a lawyer. It probably is going to be worth it, on the other hand, for the T14-bound student who is limiting his debt and who has a fairly good idea of what lawyers do and why he wants to do that.

[LogicalBaozi]

I mean, it all depends on your personal circumstances. It's difficult to make sweeping generalizations about when law school is or is not "worth it," other than at the extremes. It's not going to be worth it, for example, for the TTT-bound student who is taking on substantial debt and who has only a passing interest in becoming a lawyer. It probably is going to be worth it, on the other hand, for the T14-bound student who is limiting his debt and who has a fairly good idea of what lawyers do and why he wants to do that.

Note that this is probably true in ANY economy.




Except for the corner-solution of an economy where each and every JD is a guarantee of massive bags of money and an endless succession of supermodel girlfriends, even if it is bottom 10% at Cooley.

(this is technically possible in the current economy, if monopoly money and virtual girlfriends count).

[dems87]

Prepare for the worst, hope for the best.

+1

Three things:
1) FWIW I'm doubling in Econ and Finance. The EU is like a 27 car train headed for a cliff but only 2 of those cars (Germany and sort of France but they will have their own problems soon enough) are braking ...all it's going to take is one country defaulting and it's going to drag the rest of them down with it. Personally, I'd say the odds are 20/60/20 (we're fucked/recession/everything works out) for our economy. However, like someone else pointed out...trying to fit everything to a timeline is impossible. It could be 1yr, 5yrs, or even 10-15yrs before this goes down. (which makes everything I've just written sort of worthless concerning OP)

2) You just have be honest with yourself...if you're not the kind of student who is going to do whatever it takes to, at least, get into the top 10% of your class (I chose not to qualify this with talk of school rankings, etc...just use your head) then maybe you should hold off for a few years and see if things improve. I would also like to point out that TLS is a bubble...just go look through the LSAT waiting threads, no who posts is shooting for the 150's or lower. The point is, your law school class is not going to be proportionately filled with quite so many type-A overachievers, I promise there will be plenty of people who just want to be in the top half (most of whom will likely fill the bottom half).

3) Unrelated to OP (sorry) but I'll be brief. It should be noted that federal regulations FORCE banks/lenders to take on sub-prime loans. That being said, there were plenty of misdeeds committed by the banks but the government isn't exactly clean either.