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Yes ... it's a shame that YOUR PARTY created such an ECONOMIC DISASTER that we are still feeling the effects even two years later!
Fixing an economy that YOUR PARTY destroyed hasn't been easy!
This isn't the Superbowl. This is a group of 535 individuals from both parties that continually screw us all in the name of pandering and power. The mindset in your post will only continue the gridlock. There is no winning, there is no total blame to one side of the aisle or another, there is only a group of very powerful people feeding their egos at our expense. They could care less about you or me no matter how much we cheer for their "side".
IMO the difference is that a bubble is driven by debt.
Only if you view 1980 as "the beginning of time," like a lot of boomers, conservatives, Republicans, etc., like to do when discussing economic matters.
1980 was the year that we started growing our private and public debt, relative to the earnings of our population. Other people describe this as "replacing income with debt."
Perpetually falling interest levels since 1980 were necessary conditions for this bubblicious environment.
If prices rise to unsustainable level, and then they fall, I suppose it's a matter of personal perspective as to whether the "problem" was the unsustainable rise, or the inevitable fall.
Exactly. Too many Republicans (not all of them) want to b*tch and moan about too much government intervention and regulation, when it is government intervention and regulation that saved their asses in 2008.
Maybe we oughta dissolve Fannie and Freddie, and claw back those bailouts we had. Let's do away with the discount window, primary dealers, and the federal reserve, and let them make loans with their own damn money. This would functionally liquidate our insolvent banking system, cause housing prices and the stock market to crash, put pensions and institutional investors in jeapordy, and ruin the retirement prospects of a generation (or two).
It is why I view the GOP as pure hypocrites. Let them stop subsidizing the banking system, and cut medicare, and then maybe I will treat them like the fiscal conservatives they pretend to be.
It seems we agree on most of the fundamentals in this debate. Personally, I have zero respect for anyone who is willing to actually label themselves a democrat or republican. Both parties have degraded to the point of caring more about winning the next election (at any cost) at the expense of the country as a whole. Personally? I feel we should pull out of 90% of foreign holdings, we should not have bailed out the financial industry, Social Security should be eliminated completely (phased out so people who paid in get the returns they were promised), medicare and medicaid should be completely privatized, there should be dramatic cuts on welfare/unemployment and food stamps.
Government is much too big at the moment, and people need to start taking responsibility for their own lives.
When Republicans controlled all branches of government (2003-2006) is when the vast majority of the problem sub-prime ARM (adjustable rate mortgages) were handed out to unqualified home buyers.
It was these problem sub-prime mortgages that would eventually trigger the economic meltdown which began when these mortgages began to reset to higher rates a few years later, and the homeowners couldn't afford to pay the higher rates. These homeowners walked away from their mortgages, and the high number of foreclosures began.
The Democrats who took control of Congress in Jan 2007, just happened to be in the wrong place at the wrong time when the economic meltdown began.
The ingredients for the meltdown were already in the mix by the time Democrats took control.
I am pretty young (25), and can honestly say that for many grads it is their own d*mn fault. I started looking for internships during my sophomore year in college and actually had them two summers in a row before graduating. I don't know a single person from my college who had a good internship who didn't find a job after graduating. The people who can't find jobs are the ones who want to 'experience life' while in college and spend their weekends drinking and summers traveling instead of preparing for the future.
I can't tell you how many of my classmates didn't even start THINKING about finding a job until April of their graduation year.
I have a friend who is a political science major who spent his summers in college backpacking around Europe. I told him to get an internship, I told him to take extra classes over Christmas break with me, but he wanted to have the 'experience' of college. No wonder he is unemployed.
This. Interned one summer and that was my ticket, though I also went to Spain one summer and having that as a discussion point in my interview was nice too.
"The degree I have isn't obviously marketable," she said. "I don't regret what I studied. If I was going to spend four years and God knows how much money, I might as well study something I like."
This particular individual majored in foreign languages and she wonders why she can't find work? Princeton is definitely setting the bar a lot lower.
Wow le roi, guess who employs your marketable majors after you graduate, BUSINESS people. Who's going to run the companies for your nurses and engineers? Did you really go to college?
Grossly misleading title for thread. A careful reading of the article reveals that 60% of recent college grade have been unable to find full-time work in their chosen fields. While certainly of concern, that is not the same thing as a 60% unemployment rate.
And all these young moron liberals voted for Obama.
My nephew just graduted from undergrad with a degree in Chemistry. He is getting paid 10,000 a year plus room and board to get his masters at University of Wisconsin.
He is a bleeding heart. So are all of his friends.
You might be careful who you call a "moron". It seems the most successful grads are very liberal.
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