Is it really the golden era of programming in America? In Europe we still get underpaid for what we do yet there is an extreme shortage of good engineers. I hav

Is it really the golden era of programming in America? In Europe we still get underpaid for what we do yet there is an extreme shortage of good engineers. I have seen a lot of my network move to America and haunt software engineering positions in SV but always thought they were chasing a lottery ticket. People drop out of school here and move to the States because there is so much demand and half of what they learn is not even applicable in real life jobs "In America you can actually get a job if you can prove you can program - without a degree!" is what I hear a lot. How true is this? Is it a gold rush or are we not even close to the peak? Are they exaggerating? What is the demand like? Is a degree worth it if you are just in it for the paper?