More economic woes, if you care

[The Toecutter]

Former Reagan administration Assistant Secretary of Treasury claims there is a greater than 20% unemployment rate, that the government's statistics on this figure are not anywhere close to the reality, and that the economy will worsen:

http://www.counterpunch.org/roberts09232009.html

Obama's chief economics advisor now claims that high unemployment will remain for years to come:

http://www.politico.com/news/stories/0909/27052.html

FDIC may be close to being insolvent due to problems gaining funding:

http://www.cnbc.com/id/33061278

7 million foreclosures pending in the U.S.:

http://www.bloomberg.com/apps/news?p...ef=patrick.net

U.S. taxpayers expected to insure $24 trillion in assets to big business:

http://www.bloomberg.com/apps/news?p...d=aQEI97EY.fs0



Don't be swayed by the DOW being over 9,000. If you have any cash in the stock market and see a drop of 200 points or more in one day anytime within the near future, do yourself a favor and get the majority of your money out immediately. Government money(your tax money) flowing to various zombie banks is about the only thing keeping it inflated today. Even workers are getting layed off from hospitals in a period where there has existed unprecidented demand, only to have their jobs outsourced to nations like India(many instances about of technicians in India being paid ~$3,000 USD a year to read X ray results when techs in the U.S. normally would have made $40-70k). Engineers aren't getting hired, despite the supposedly high demand. People with college degrees are now getting the burger flipping jobs here in the U.S.

[highwind]

Re: More economic woes, if you care

[American Hero]

Re: More economic woes, if you care

Should I just go ahead and drop out of college? I mean I'm probably not gonna find a job anyway, and this whole college thing is expensive.

[The Toecutter]

Re: More economic woes, if you care

I can't make that choice for you, but consider the following factors:

1) If any, how much debt will you incur upon yourself to finish college?
2) Will your major and your academic performance provide a relatively high chance of obtaining employment during an economic depression?
3) Is your career choice well planned, something that you will be happy with, and something that will you be able to make a sufficient funds to achieve your goals?

In general, incurring debt onto yourself at this time would be a bad idea. If you do choose to do such, you better make sure that you will be able to pay it down or at least put the expense you incurred onto yourself to some practical use. If you find that you cannot do such, dropping out may not be a bad idea at all; a trade school might be a better idea.

[Kire]

Re: More economic woes, if you care

but...but...IT'S OVER 9000!!!

[Dallas Alvis II]

Re: More economic woes, if you care

Dammit, Kire beat me to it.

[Alzar]

Re: More economic woes, if you care

can't we just print money
debt is fine if we have retarded inflation

[Eso Teric]

Re: More economic woes, if you care

I'm feeling oftly validated over here, guys!

[Ωbright]

Re: More economic woes, if you care

[Sampson]

Re: More economic woes, if you care

In general, incurring debt onto yourself at this time would be a bad idea.

I disagree.

If you can make the minimum payments for the next five years, assume as much debt as you can.

At that point, inflation will have eroded most of the debt that you owe, so it won't be that big of a deal.

[Funk]

Re: More economic woes, if you care

Economic woes don't bother me: I have nothing to lose!

[The_Real_Crunk]

Re: More economic woes, if you care

a trade school might be a better idea.

THIS. Plus in Canada, the government will actually pay you money to take time off from work to go study a trade.

[Jehuty]

Re: More economic woes, if you care

What did people expect? This needs to be a lesson on rampant unregulated buisness.

[marcus]

Re: More economic woes, if you care

Engineers aren't getting hired, despite the supposedly high demand. People with college degrees are now getting the burger flipping jobs here in the U.S.

Things aren't too good in the government seats either. A dude I know just retired after 20 years of service and he's been delivering pizzas down the street while waiting for a position to open in the shipyard (which will likely never come). People who are one enlistment shy of retirement are getting kicked out because of huge government downsizing. If you've been caught of a single incident in a decade such as drinking and driving you're entire career is done while only a year ago you'd simply have your pay cut and put on restriction for a month.

[Sampson]

Re: More economic woes, if you care

What did people expect? This needs to be a lesson on rampant unregulated buisness.

Ah, I love ignorance.

I could've sworn that Spain, with its highly regulated quasi-socialist economy and extensive financial regulation system (including banning many of the practices which contributed to this economic downturn), was in a depression. Perhaps I'm mistaken.

Oh, wait. I'm not: http://www.economicpopulist.org/cont...nks-depression