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westender, you'd be surprised how over-extended some people are. I didn't say he had lost the house but about to. Live day-to-day, miss a paycheck and some are in real trouble. They bought the house 5 years ago (not the best time to buy) and maybe had problems making payments before then, I don't know those details.
And I don't know his life story. Coulda, woulda, shoulda the world is full of those. Going to Ivy league school doesn't guarantee success - jobwise or financially.
"Just 54 percent of Americans ages 18 to 24 currently have jobs, according to a study released Thursday by the Pew Research Center. That's the lowest employment rate for this age group since the government began keeping track in 1948. And it's a sharp drop from the 62 percent who had jobs in 2007 -- suggesting the recession is crippling career prospects for a broad swath of young people who were still in high school or college when the downturn began."
"And the percentage of working-age adults in the labor force — what's called the participation rate — fell to 63.3 percent last month. It's the lowest such figure since May 1979."
"Even Americans of prime working age — 25 to 54 years old — are dropping out of the workforce. Their participation rate fell to 81.1 percent last month, tied with November for the lowest since December 1984."
"The New York Times delivers some news so grim that it had to cook the headline to hide it: “Median Household Income Down 7.3% Since Start of Recession.”
Well, yes, but as the Times reluctantly admits in the very last paragraph of the story, 5.6 percent of that decline has occurred since the Obama “recovery” began."
Yes that is correct...just over 3/4ths of the decline in household income happened during the "recovery".
Just wanted to add that the Full Time Jobs Ratio has dropped for 5 straight months...hopefully we will find out that this streak has been snapped. Maybe one day soon, we will no longer have a smaller full time job ratio than when the "recovery" started?
Housing and Stock Market...........two OBVIOUS bubbles that are going to explode yet again.
06-03-2013, 10:07 PM
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n/a posts
This whole thing gets a bit sad sometimes.
We have a vast swath of the population that is so invested in the idea of the US failing and eternally hopeful that it'll actually happen, that they cherry pick data (and pick whatever date ranges tell them what they want to be true), ignore the effects of an aging population, etc.
Our economic situation is clearly far from ideal, but I will never understand the cheering for the nation to fail (or cheering for the economic engines of the country to fail because they happen to be run by liberals) just because you're still butt hurt about losing an election, and then losing another.
Is there a recovery? Yes, obviously so, unless you're living in a fantasy world. Look around. Only a few short years ago there were foreclosures everywhere, stores closing, people losing their jobs like mad. Now, I drive around and those for sale signs are gone and new stores are opening and companies are making massive expansions.
Only for the rich. So what, the Dow is soaring to new heights, doesn't help me any. Big deal, million dollar homes are recovering. The real unemployment rate is still double digits, it isn't getting any better for the middle class and lower classes.
If you look at the "recovery" since 2009, yes things are better. But we really haven't seen any improvement for the last 2 years. The economy seems just kind of stagnant and struggling. No body seems terribly optimistic that things will get any better. Statistically its the worst recovery since the Great Depression, so calling it a recovery is a bit of a stretch. Fortunately, we live in Texas. We haven't seem much effects from all this except in 2009. Since then, things are great. Still building new businesses, new housing, new streets. We'd probably be doing even better if it wasn't for the drought.
Did you ever notice how often that when there is a decline in an economic statistic its labeled "unexpected"????.
Only for the rich. So what, the Dow is soaring to new heights, doesn't help me any. Big deal, million dollar homes are recovering. The real unemployment rate is still double digits, it isn't getting any better for the middle class and lower classes.
You do not have a 401K?
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Honest Debate - does anyone believe that we are in a recovery?
