The collapse of the economy & Congress

[evangelist6589]

Don't know about you but I believe the student loan crisis, the government debt, and many other factors will lead to the collapse of the american economy. Is it coming? In a way I hope this happens as then not everyone will go to college, and workplaces will once again do on the job training. These days its so difficult getting into a higher paying position without that piece of paper, and if one has debts to pay off on top of living expenses, it spells nothing but trouble. Many college students graduate with lots of debt and end up in retail as a graduation present. Some college education heh? Anyways I know the collapse of the economy will happen but how will this impact all of us? I remember 10 years ago it was so easy to take on a loan, open a new credit card, and transfer balances. Ever since the 2008 crash it just seems harder to do these things. Perhaps irresponsibility is catching up and I hope that Congress one day learns their lesson.

 

[saturneptune]

Don't know about you but I believe the student loan crisis, the government debt, and many other factors will lead to the collapse of the american economy. Is it coming? In a way I hope this happens as then not everyone will go to college, and workplaces will once again do on the job training. These days its so difficult getting into a higher paying position without that piece of paper, and if one has debts to pay off on top of living expenses, it spells nothing but trouble. Many college students graduate with lots of debt and end up in retail as a graduation present. Some college education heh? Anyways I know the collapse of the economy will happen but how will this impact all of us? I remember 10 years ago it was so easy to take on a loan, open a new credit card, and transfer balances. Ever since the 2008 crash it just seems harder to do these things. Perhaps irresponsibility is catching up and I hope that Congress one day learns their lesson.

The American economy is the shining star and envy of all nations. It thrives on free enterprise. Yes, it does go through cycles of recession, inflation, and the good times, but they are expected. The poorest of our poor are better than the middle class of most countries. The economy survives despite the inept leadership in Washington. It manages to overcome the fact that Congress is a collection of idiots.

There are several things I do not understand about the student loan program. The first is why the federal government is involved in it. Next, why do these programs lend out more money than needed for tuition and books. It seems they can give out 10K a semester for living and transportation expenses. The final point is, why does one need student loans to start with? When I was going to college, I had a little help from my parents, but I worked at a dollar store and delivered pizzas. I paid my own bills and came out without owing one cent. What the college student of today is not getting is that they are there to learn, which means tuition and books. There is nothing that says they have to have perpetual parties, a new car, a luxurious apartment, new clothes, and be without a job. These are years of establishing a career, not seeing how much debt one can collect before graduating. The debt should be zero.

 

[go2church]

Not sure student loans will be the downfall of the country as they are bankruptcy proof and eventually paid back, even if that means you lose your tax refund. Yes, it takes some a long time, but the banks get their money back.

 

[preachinjesus]

Economy is moving along fine. The American economy is robust enough to take a couple of body blows or hit a couple potholes and be fine.

The student loan crisis is something to watch, but it isn't going to matter that much. You can't off-load your loans through bankruptcy so they'll get repaid...and probably teach the next couple of generations some serious lessons.

 

[evangelist6589]

The American economy is the shining star and envy of all nations. It thrives on free enterprise. Yes, it does go through cycles of recession, inflation, and the good times, but they are expected. The poorest of our poor are better than the middle class of most countries. The economy survives despite the inept leadership in Washington. It manages to overcome the fact that Congress is a collection of idiots.

There are several things I do not understand about the student loan program. The first is why the federal government is involved in it. Next, why do these programs lend out more money than needed for tuition and books. It seems they can give out 10K a semester for living and transportation expenses. The final point is, why does one need student loans to start with? When I was going to college, I had a little help from my parents, but I worked at a dollar store and delivered pizzas. I paid my own bills and came out without owing one cent. What the college student of today is not getting is that they are there to learn, which means tuition and books. There is nothing that says they have to have perpetual parties, a new car, a luxurious apartment, new clothes, and be without a job. These are years of establishing a career, not seeing how much debt one can collect before graduating. The debt should be zero.

Its difficult working at 2 min wage jobs and paying for todays tuition costs. This may have worked in your day, but today doubtful. However when I graduated from High School I attended a community college for a few years and worked and paid all my bills by working at a retail store. In California the community college costs was far lower than other states and I could afford it. My only big and MAJOR mistake was not continuing that computer education I gained there and not pursuing a career in the field. Instead I decided to take on massive loans going to a christian university and messed myself up for life. How can I recover from this?

 

[Revmitchell]

I do not know where people are getting their info but the American economy is not moving along just fine.

 

[InTheLight]

I do not know where people are getting their info but the American economy is not moving along just fine.

It's just muddling along. The stock market is giving great returns in part because of the bond buying program but mostly because of good earnings reports. Gains on Wall Street have not made it to Main Street.

 

[faithgirl46]

It's just muddling along. The stock market is giving great returns in part because of the bond buying program but mostly because of good earnings reports. Gains on Wall Street have not made it to Main Street.

If the economy was so great, why isn't the unemployment rate down further? I do not buy the unemployment rate being 7.2%. That doesn't include the people who have stopped looking for work.

 

[Revmitchell]

It is limping along at best.

 

[poncho]

Our economy is moving along nicely it's all based on an ever expanding debt to a group of private bankers. It's working exactly as it should transferring wealth form the many to the few. No worries mate.

 

[thisnumbersdisconnected]

If the economy was so great, why isn't the unemployment rate down further? I do not buy the unemployment rate being 7.2%. That doesn't include the people who have stopped looking for work.

You're right. And that number of "real unemployed" gets more frightening every day.

http://news.investors.com/ibd-edito...ow-479-million-americans-looking-for-work.htm​

The government's official unemployment report in September showed 11.3 million people, or about 7.3% of the labor force, without jobs. Not good, but not disastrous, right?

Well, those data exclude a lot of people — particularly the millions of discouraged workers who have simply given up looking for a job. So the real unemployment number is bigger — a lot bigger.

In our IBD/TIPP Poll, we ask a different question: "How many members of your household are currently unemployed and are looking for employment?"

Not surprisingly, the answer we get differs greatly from the government's data. This month's survey, completed Thursday night, indicated that 47.9 million Americans are looking for work. No, that's not a misprint: 47.9 million.

Out of a workforce of 154 million, that yields a gross unemployment rate of 31%. Among all households, 26% have at least one member looking for work.

Remember when we thought it was atrocious a year ago that over 15% fit into the "uncounted" category: Looking for work, but disqualified from further benefits? Now it's absolutely hair-raising. Think of it: Thirty-one percent of able-bodied Americans -- nearly one-third of the workforce -- are un- or under-employed!

One-third!!

That ought to be cause for revolution. No one remembers the riots in the Depression. The media doesn't report them anymore when making comparisons. Why? Because they don't want to stir up the masses.

Well, folks, it's time we -- "the masses" -- got stirred up!!

 

[poncho]

You're right. And that number of "real unemployed" gets more frightening every day.

http://news.investors.com/ibd-edito...ow-479-million-americans-looking-for-work.htm​

Remember when we thought it was atrocious a year ago that over 15% fit into the "uncounted" category: Looking for work, but disqualified from further benefits? Now it's absolutely hair-raising. Think of it: Thirty-one percent of able-bodied Americans -- nearly one-third of the workforce -- are un- or under-employed!

One-third!!

That ought to be cause for revolution. No one remembers the riots in the Depression. The media doesn't report them anymore when making comparisons. Why? Because they don't want to stir up the masses.

Well, folks, it's time we -- "the masses" -- got stirred up!!

Then what? Blame it on the other side even louder?

 

[thisnumbersdisconnected]

Then what? Blame it on the other side even louder?

Nope. Start over. At the ballot box, or otherwise, if necessary.