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The poverty rate (%) has not made any substantial movement in the past 40 years it has been hovering around 12% or so. Prior to the 50's it was substantially higher.
I'm confident that the nation is not just going to stand by to watch a train wreck. We will regain our focus! Yes it has been a me-centric era. I thought the 1990's had gone too far and that things would change after the turn of the century with the bursting of the tech bubble. The economy will need to take a breather. As previous posters have said a downturn shakes out unhealthy practices.
People making $25k a year leasing $50k automobiles, buying $200k houses, and paying $100 a month for their cellphone and digital cable doesn't make sense. Time for some more careful review of income/expense information before making loans and issuing credit cards.
Also time for some more common sense. Enough with the politically-correct talk and just tell people that don't make enough money that YOU CANNOT AFFORD THIS!
Old standards like 1/2 years salaray for automobiles, 2.5 x income for homes, 28/36% housing/total debt, 6 months salary savings for emergencies, etc. are good guidelines to live by for young adults/families.
It's also important that people realize that their child doesn't need to go to a $50,000 a year college to receive a quality post-secondary education. There are many alternatives that are far less expensive and more in line with what parents can afford to provide for their child. Neglecting to fund one's own retirement from an early age and taking a big hit in the latter part of one's working career to pay for college is a recipe for disaster for the aging adult population.
I agree mostly. But I want to point out that to buy one bedroom apts in NY is upward of $200K in most marginally good neighborhoods. Very few people would qualify under your the 2.5x ratio. Fughet about buying a house that is more than $500K!. (starting price.)
Location: Oklahoma(formerly SoCalif) Originally Mich,
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One thing(not the first) that started Mi. off in the wrong direction is "Corperate Farming".
Corperations taking over Independent Farmers.
I was a member of a Grange in Ca. The National Grange is trying fight that.
I hope not but this seems to be the perfect time for a "New Deal." The first New Deal program is metrication. Like Lincoln, Roosevelt was planning to free America from the King's foot until he suddenly died.
Yup, that's what will happen. Our economy will go to hell because of inflation from the Federal Reserve and everyone will falsely blame it on capitalism, so we will all cry for socialism from whomever happens to be president and they will reward us with a socialist state and we'll all be happy little submissive government slaves. Our terrible economic state is actually the result of socialism (the central bank). Our economy is controlled by a group of men known as the federal reserve board, who try to guess what the economy will do and print money out of thin air. We need to go back to the gold standard. We never had booms and busts when we had the gold standard. Ron Paul is the only candidate talking about any of this stuff.
There were lots of booms and busts under the gold or silver standard. Booms and busts are caused by speculation (East India Company speculation, Teapot Dome for a couple of examples) not by currency standards. Speculators are aided by low interest and cheap money that unfortunately also causes inflation because the money is cheap. Nice bit of circular reasoning, but economics is rife with circular reasoning.
The Federal Reserve was created to provide money for the militarization of our economy and the protection of the wealthy. It is no friend of ours or of our government.
We never had booms and busts when we had the gold standard.
Really? What was all that hub-bub in 1814, 1818, 1825, 1837, 1857, 1873, 1884, 1893, and 1907 then? (And those are just some of the more memorable ones...)
Quote:
Originally Posted by zombiema7
Ron Paul is the only candidate talking about any of this stuff.
In economic terms, Ron Paul is a borderline air-head...
Really? What was all that hub-bub in 1814, 1818, 1825, 1837, 1857, 1873, 1884, 1893, and 1907 then? (And those are just some of the more memorable ones...)
In economic terms, Ron Paul is a borderline air-head...
I think you are being too kind, folks really need to understand more about the gold standard and our economic performance when linked to gold.
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