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What's so wrong with that...it's at over 500 replies, it's a subject that is discussed on here throughout multiple threads and its pretty popular so I made it a sticky....when the interest dies down I can easily unstick it...ironically you added to its post count.
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I just got here so I'm replying to the original poster...
This is tragic. I am against anyone abusing the system, but with our current unemployment rates there are many people in legitimate need. The number of people on food stamps in New York State is record breaking, which means people who never intended to milk the system are facing enough hardships that force them to apply for food stamps.
Now is not the time to hurt poor people. Now is the time when we've got to fix the economy. When shareholders stop demanding people be fired so they'll be less people to pay in order for them to rake in the profits.
Companies cannot lay off thousands upon thousands of people and expect to turn a profit when fewer people are around who can afford to buy their products or use their services. As long as they do this more people will be in need.
I just got here so I'm replying to the original poster...
This is tragic. I am against anyone abusing the system, but with our current unemployment rates there are many people in legitimate need. The number of people on food stamps in New York State is record breaking, which means people who never intended to milk the system are facing enough hardships that force them to apply for food stamps.
Now is not the time to hurt poor people. Now is the time when we've got to fix the economy. When shareholders stop demanding people be fired so they'll be less people to pay in order for them to rake in the profits.
Companies cannot lay off thousands upon thousands of people and expect to turn a profit when fewer people are around who can afford to buy their products or use their services. As long as they do this more people will be in need.
Good points, which is why we do have things like unemployment, food stamps, etc.
Nothing is wrong with legitimately helping people. I think complaints are, though, we should not be paying to indefinitely sustain people's drug addiction. If someone is making no effort to help themselves whatsoever, why way for them to be on welfare for life, so they can drink, do drugs, and commit crime? This issue can and should be dealt with even in a poor economy, because if its dealt with you can put more resources into people who legitimately need them.
Btw, addicts and certain other ne'er do wells will never run out of excuses, its the economy, its racism, their parents didn't give them enough love as children, etc.
I just got here so I'm replying to the original poster...
This is tragic. I am against anyone abusing the system, but with our current unemployment rates there are many people in legitimate need. The number of people on food stamps in New York State is record breaking, which means people who never intended to milk the system are facing enough hardships that force them to apply for food stamps.
Now is not the time to hurt poor people. Now is the time when we've got to fix the economy. When shareholders stop demanding people be fired so they'll be less people to pay in order for them to rake in the profits.
Companies cannot lay off thousands upon thousands of people and expect to turn a profit when fewer people are around who can afford to buy their products or use their services. As long as they do this more people will be in need.
You notice there are no threads on how Wall Street ripped us off and plunged us into this horrible recession, right?
It's called "Let's pick on the weaker among us" to make them feel "powerful" and "important".
The funny thing is that the rich and "classy" people they admire so much probably can't stand THEM either.
Now they even have classifications to separate "ghetto" from "poor" people now, so that the traditionally "poor" or working class person won't be lumped in with the poor "ghetto" people.
LMAO!!!! It would be really sad if it wasn't so damn funny at the same time.
like i said earlier wall street followed the publics lead in creating products to fill the demand for higher yield.
everyone from the pension funds,the insurance companies and grandma and grandpa wanted these products that gave them more interest even though they were not fully tested yet under actual battle field conditions.
it is these products like credit default swaps and cdo's that created the major collapse.
the non payment of mortgages were a result of the financial system collapsing under it's own weight and the job losses that rippled through the economy after things collapsed and froze.
like i said earlier wall street followed the publics lead in creating products to fill the demand for higher yield.
everyone from the pension funds,the insurance companies and grandma and grandpa wanted these products that gave them more interest even though they were not fully tested yet under actual battle field conditions.
it is these products like credit default swaps and cdo's that created the major collapse.
the non payment of mortgages were a result of the financial system collapsing under it's own weight and the job losses that rippled through the economy after things collapsed and froze.
Yes, I agree with the highlighted and most of Wall Street KNEW these were failure investments, but for some reason the SEC didn't "check" these companies on what they were doing.
Yes, people making $12 an hour were purchasing $300,000 homes, but they were also "helped" or encouraged to lie by the loan people.
The bottomline for ME is that Wall Street and the auto industry got over 100 billion dollars in bailout money, but yet people on here are complaining about the $100 million or so being spent on the nation's poor and vulnerable as if THEY are to blame for everything.
The "anger" and "hate" is being misdirected and I think you know that Mathjac.
It's like let's make the really poor the scapegoats, because the real truth of the matter is that many of the people complaining about these "leeches" are only a couple of paychecks away themselves from falling in the same bag.
All financial companies in all countries have the incentive to push products and services that they can sell easily. And ordinary people easily get drunk on credit whenever they can. Watch the accumulation of credit card debt in Korea. There is no viable proven mechanism to self-police this lending/borrowing. The job of enforcing this falls on central banks, which would use the simple tried and tested tools of imposing stricter capital requirements on banks and raising interest rates to curb agressive lending, none of which were done by the Fed in the runup leading to the financial crisis.
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