It depends on what you think is cheap. But Java developers that even know a little are doing fairly well right now. Java developers that know a lot can demand top dollar and there are tons more opportunities to earn that amount than with pretty much any technology.
Sure, if your goal is to get a job maintaining mainframe systems in banks for the next 30 years Cobol or Java are very good ideas.
On the other hand, there are already huge heaps of mediocre java programmers available for cheap, so it's not like the demand is that high.