Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 03-28-2023, 12:49 AM
 
Location: PNW
7,524 posts, read 3,236,257 times
Reputation: 10693

Advertisements

Quote:
Originally Posted by redguard57 View Post
Here is some data on median student debt, by degree type and major.

https://educationdata.org/student-loan-debt-by-major

Something distressing is how large the balances are for associates degrees. How the hell are people racking up 10-20k debt for 2 year degrees? Those should be fully subsidized.

As for bachelors, there is little correlation between major type and loan balance. Both STEM and non-STEM are at the top and bottom of the list.

The problem is the general cost of college.

I guess that kind of answers the question as to why they want to forgive the first $10-20k as that should have been covered. I remember paying $4 per unit at a community college that transferred to the university system. But, I worked full time and did not rack up living expenses on debt.
Reply With Quote Quick reply to this message

 
Old 03-28-2023, 12:46 PM
 
Location: TN/NC
35,063 posts, read 31,284,584 times
Reputation: 47524
I can't speak to everyone else, but...

My dad was laid off from his job back in 2007 or 2008 when the factory he worked at closed down. He was making somewhere around $25/hr-$30/hr.

He ended up in a call center for the next ten years making ~$35,000/year. Things turned around in 2017, but by then, he was 60. 50-60 was spent at a very low wage.

Inflation-adjusted, I bet 2007 was their peak income year.
Reply With Quote Quick reply to this message
 
Old 03-29-2023, 11:07 PM
 
3,198 posts, read 1,665,647 times
Reputation: 6078
Quote:
Originally Posted by Serious Conversation View Post
I can't speak to everyone else, but...

My dad was laid off from his job back in 2007 or 2008 when the factory he worked at closed down. He was making somewhere around $25/hr-$30/hr.

He ended up in a call center for the next ten years making ~$35,000/year. Things turned around in 2017, but by then, he was 60. 50-60 was spent at a very low wage.

Inflation-adjusted, I bet 2007 was their peak income year.
That's pretty bad, I know a lot of of 50-60 yr olds making 150-250k annually just doing various niche work. Usually contract consulting based work.
Reply With Quote Quick reply to this message
 
Old 05-27-2023, 05:58 AM
 
163 posts, read 48,599 times
Reputation: 122
The real per capita gdp growth rate fell off trend in the late 90's/early 00's. The current growth rate is 1/3 less than what is normal. The economy is the weakest it's been in 90 years. There is much research to back this up. We think better in pictures, so the picture below illustrates the new growth trend line we're in.

Reply With Quote Quick reply to this message
 
Old 06-01-2023, 05:53 PM
 
45,676 posts, read 24,004,475 times
Reputation: 15559
Quote:
Originally Posted by Bubble99 View Post
I was reading that we never got out of the 2008 recession that all they did was print money, quantitative easing and pupping up markets.

But well this is only coming from non mainstream economic people and the mass media and the government is not talking about this.

Is it true that we never got out of the 2008 recession and the problems we are having today is because of that?
Never heard that. Any links?
Reply With Quote Quick reply to this message
 
Old 06-03-2023, 11:04 AM
 
Location: Ohio
24,621 posts, read 19,159,948 times
Reputation: 21738
Quote:
Originally Posted by Bubble99 View Post
I was reading that we never got out of the 2008 recession that all they did was print money, quantitative easing and pupping up markets.

But well this is only coming from non mainstream economic people and the mass media and the government is not talking about this.

Is it true that we never got out of the 2008 recession and the problems we are having today is because of that?
Those "non mainstream economic people" rely on suckers like you to make them look smarter than they really are.

After the recession ended, you had the longest period of economic growth in US history.

Had it not been for STUPID-19 it's unknown how many additional quarters of economic growth would have occurred before there was a mild recession.
Reply With Quote Quick reply to this message
 
Old 07-05-2023, 03:58 PM
 
163 posts, read 48,599 times
Reputation: 122
Quote:
Originally Posted by Mircea View Post
After the recession ended, you had the longest period of economic growth in US history.
This is true but you never recovered back to the prior trend line.

It's like trying to say we had great economic growth after the pandemic, when all we really did was add back the jobs we lost.

Apparently the link to my old picture is broken, so here it is again.

Reply With Quote Quick reply to this message
 
Old 07-05-2023, 04:13 PM
 
19,782 posts, read 18,073,660 times
Reputation: 17269
Quote:
Originally Posted by ed06288 View Post
This is true but you never recovered back to the prior trend line.

It's like trying to say we had great economic growth after the pandemic, when all we really did was add back the jobs we lost.

Apparently the link to my old picture is broken, so here it is again.
Yea not really.........your data stops in 2015. All that matters is we passed the 2008 real per capita GDP number in 2013 and are well beyond that now.


https://fred.stlouisfed.org/series/A939RX0Q048SBEA

Last edited by EDS_; 07-05-2023 at 04:47 PM.. Reason: Wrote 2015 meant 2013.
Reply With Quote Quick reply to this message
 
Old 07-23-2023, 06:21 PM
 
163 posts, read 48,599 times
Reputation: 122
Well ok, maybe things aren't as bad as I make it out to be. But given the current political environment, I would think people would be more eager to agree with me. If things are so great, why do we need to get the jobs back from china? Why do we need student loan debt relief? We also have a labor force participation rate problem as well as declining real wages. All of which are symptoms of an over-indedted economy.
Reply With Quote Quick reply to this message
 
Old 07-23-2023, 07:57 PM
 
Location: Indiana Uplands
26,406 posts, read 46,566,000 times
Reputation: 19544
Quote:
Originally Posted by ed06288 View Post
Well ok, maybe things aren't as bad as I make it out to be. But given the current political environment, I would think people would be more eager to agree with me. If things are so great, why do we need to get the jobs back from china? Why do we need student loan debt relief? We also have a labor force participation rate problem as well as declining real wages. All of which are symptoms of an over-indedted economy.
No, the main issue is a skills mismatch in many areas of the country, meaning labor force participation rate is lower than it should be. However, few people leave areas that have few jobs and move to areas that have far more jobs these days in the US. Moving rates are far lower than 40 years ago. The lower labor force participation rate is also partly due to the rapidly aging population in many areas as well.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top