'Close the J Schools'

From the Huffington Post, a blistering commentary on the value of J schools, especially for graduate degrees. From the lead:

These kids are paying upwards of $70,000 (the cost of Columbia's J-School, including living expenses) for a ghost's chance of landing a job, at pitiful pay, in an industry that is rapidly collapsing. What's going to be the next hot field in graduate study? Blacksmithing? Bloodletting? Steamship design?