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Financial experts noted several ominous economic indicators, including skyrocketing student loans and U.S. household debts, that could predict a crash "worse than the Great Depression," according to a report in the New York Post. Goldman Sachs predicted that this year's U.S. fiscal outlook would be "not good," and that U.S. household debt had been increasing since the 2008 housing crisis led to American taxpayers bailing out the big banks.
In 2018, experts said, a $247 trillion global debt will be the greatest cause of the next cataclysmic financial crash. Additionally, low wages and the U.S. national debt's steady rise are expected to drag down the economy. Economists downplayed recent positive indicators such as low unemployment and soaring business confidence, reiterating they wouldn't last through Trump's first term. At least one expert predicted that recent slides in housing and auto sales were the first step toward a U.S. recession
And an asteroid could hit the earth. Economists have predicted 12 of the last 5 crashes. Didn't the same experts predict before the election that a Trump victory would cause a recession?
Your own quote says "In 2018, experts said, a $247 trillion global debt will be the greatest cause of the next cataclysmic financial crash."
How is it Trump's fault that the entire world has gotten head over heels in debt in the last ten years?
I can't read any of the Times ones as I don't subscribe. Most of them appear to show rising wages in terms of months, June compared to May, not over time/decades. These articles address recent developments in light of a tight job market recently. Lower end salaries are rising because the minimum wage has risen in the last few years in many (blue) states, but that isn't addressing the problem the middle class is having. Wages for the middle class have not risen enough to compensate for people paying 1/3rd of pay or more on health insurance. In terms of my own family and people I know and work with, no one has gotten raises or higher wages, but all our health insurance is expected to rise.
Yes, life has been a struggle for many people throughout history but do this for me..name another time in the history of the US when a full-time minimum wage wasn't enough money to a one-bedroom apartment anywhere in the U.S[/url]
I assume your point is that since the 1950s and 60s, state and local governments have intervened in what used to be a fairly free market for apartment construction by putting in place needless fees, density restrictions, and all manner of zoning regulations artificially restricting the quantity of one-bedroom apartments everywhere in the USA to be fewer than they otherwise would have been. And a smaller supply coupled with an increasing population of one-bedroom would-be-renters makes the rent go up much more than it otherwise would have been.
Yes, the government intervenes, and frequently makes things worse.
We didn’t have any of that, and we lived in a one bedroom apartment. I shared a bed with my mother till I was 14. When my mom had us she was married and my dad was able to support us, but he suffered a brain injury when I was five and had to go to a Veterans home.
Sorry you went through that. I commiserate.
My father, like so many young men of his generation, lied about his age & joined the US Navy the day after Pearl Harbor (indeed, he was on a Destroyer in the Pacific that was hit by a Kamikaze, killing many US serviceman). Years later, he died unexpectedly when I was 12 years old, leaving behind my mentally retarded younger sister, my high-functioning autistic brother, an uneducated widow ill-prepared to be a head-of-household who had grown up dirt-poor in a rural agricultural area - and quite literally and without exaggeration her "home" had neither electricity nor indoor plumbing; indeed her step-dad drove her to elementary school in a horse-and-buggy, and me.
And a big pile of debts with no assets to speak of.
Bad things happen to all of us at one time or another. There are no so-called charmed lives. We all do the best we can.
The old saying goes it isn't about being knocked down by life; it is about how you get back up.
I am not sure what to think really, but debt to gdp ratios higher than anything since post-Great Depression does sound a bit foreboding. Hard to imagine why policy makers and politicians wouldn't heed the warnings.
No, the logic is, that the indicators economists use to declare the economy "strong" are not relevant to the average person's life. They don't measure real life for real people, and the indicators don't account for employers firing people when they pass 50, to replace them with inexperienced recent college grads, or those who fire skilled American techies, to replace them with imported cheap H1b workers.
I assume your point is that since the 1950s and 60s, state and local governments have intervened in what used to be a fairly free market for apartment construction by putting in place needless fees, density restrictions, and all manner of zoning regulations artificially restricting the quantity of one-bedroom apartments everywhere in the USA to be fewer than they otherwise would have been. And a smaller supply coupled with an increasing population of one-bedroom would-be-renters makes the rent go up much more than it otherwise would have been.
Yes, the government intervenes, and frequently makes things worse.
No, that was not my point.
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