America is Regressing into a Developing Nation for Most People

[Pressure]

breh we're on the thecoli you don't have to use your politician voice here.

they should forgive much of the educational debt currently held - that by itself is probably holding back an entire generation of young adults from ever reaching financial solvency.

I agree with this.

 

[Camile.Bidan]

I have been noticing this and describing this on this forum for a long time now. There is a huge divide. You only have to drive from the SF bay area to Sacramento to see it. Once you pass the Altamount pass mountain, it's a completely different world, with different people and totally different levels of economic achievement.

I am just lucky to be able to be part of the FTE crowd. Life outside of this sphere is not very good at all.

People in the Non-FTE crowd look different. I cant really explain it. It's especially noticeable in white people. Non-FTE whites look more robust and hardcore. The non-FTE white woman are usually very fat and have a stupid look on their eyes. I can go to the Wal-mart and then go to Wholefoods and see a big difference just in the physical appearance of white-people.

Even more striking...FTE and Non-FTE, regardless of race, do not mix with each other. I never see an engineer dating a waitress, and never see an Accountant/bookkeeper dating steel mill worker or warehouse employee. There is a huge selection event happening before our eyes right now. Unfortunately, there are certain races that have disproportionate amount of members in either FTE or Non-FTE.

This is all going to result in India 2.0-- a horrific caste system. It could even end-up like Battle Angel's Zalem situation.

 

[Serious]

Technically I have a background in science(bio) I'm not using it. But maybe I should do a postbach for engineering or computer science

On topic, I love how the author pointed how racism is ultimately America's undoing, the lust for being antiblack, causes the economic system in place to be stagnant.

 

[Pressure]

Technically I have a background in science(bio) I'm not using it. But maybe I should do a postbach for engineering or computer science

On topic, I love how the author pointed how racism is ultimately America's undoing, the lust for being antiblack, causes the economic system in place to be stagnant.

If you already have a degree it's not worth going back to school to pick up additional tech degrees. Just learn meet some good people have your friends put you on to an interview and if you have to talent you'll have a better chance. Then once you're employed have them pay for additional education if they think you need it.

 

[DEAD7]

The median net personal income for Americans places them in the top 95% of global income.
By any metric, even people we think of as being working class in America, even people struggling with part time jobs, are well-off by global standards.
I think it's easy(particularly for those on the left) to lose track of how incredibly wealthy America is as a country, and how far down global poverty really extends.









"developing nation"?

 

[Zee Scribe]

The median net personal income for Americans places them in the top 95% of global income.
By any metric, even people we think of as being working class in America, even people struggling with part time jobs, are well-off by global standards.
I think it's easy(particularly for those on the left) to lose track of how incredibly wealthy America is as a country, and how far down global poverty really extends.









"developing nation"?

Don't read (or write) articles brehs.

 

[DEAD7]

Don't read (or write) articles brehs.

 

[DEAD7]

but politicians learned to talk as if the low-wage sector is mostly black because it allowed them to appeal to racial prejudice, which is useful in maintaining support for the structure of the dual economy — and hurting everyone in the low-wage sector. Temin notes that “the desire to preserve the inferior status of blacks has motivated policies against all members of the low-wage sector.”

 

[rantanamo]

Technically I have a background in science(bio) I'm not using it. But maybe I should do a postbach for engineering or computer science

On topic, I love how the author pointed how racism is ultimately America's undoing, the lust for being antiblack, causes the economic system in place to be stagnant.

which leads to idiots like Trump and Rick Perry as leaders of our prosperous land trying to push more policies that will hurt the people that hurt the people that keep them afloat. Better to be in charge and white than to have legislation to help them.

 

[Professor Emeritus]

Upgrade infrastructure, yes.

But the rest What kind of message does that send?

That people shouldn't be held in servitude to capital?

Don't take out debt you can't repay.

Don't give people access to debt they can't repay.

Funny the banks got billions of free money from the tax payers but the tax payers can't ask for it back in debt forgiveness.

The entire system is like it is because people who make interest off of capital want it that way.

As long as the people in power have access to enormous wealth, and want to make money doing nothing while that wealth earns interest, then they will continue to manipulate the system to ensure that as many people take out loans for as much money as possible and as long as possible. They MUST feed the interest-based system.

That's why you get deductions for mortgage interest - so that the interest-monster can be fed.

That's why capital gains taxes are less than high-end income taxes - so that the interest-monster can be fed.

That's why the Fed sets interest rates where it does and does everything it can to keep down inflation - so that the interest-monster can be fed.

That's why everything is designed to encourage you to take out that mortgage, get that car loan, take out those school loans, get that business loan, etc....


What message does it send if we forgive a ton of debt? Maybe we throw a wrench in that system. Just a small one.

But honestly, we need to do a hell of a lot more.

 

[AnonymityX1000]

The thread isn't about the subprime mortgage crisis, but just mortgage forgiveness in general for people making under x amount of dollars. These are two separate issues.

It's not too late in theory, but in reality they wouldn't risk destabilizing an already shaky market at this moment. It should have been done then -- during the bailout. But now it's cooked in.

Yeah, destabilize this bytch. That's what they did with the mortgage crisis. Don't worry regular tax payers will eventually pay it back.

 

[MeachTheMonster]

nope. the mortgage crisis was a disaster and if something was to be done it should have been done then.

Current home prices are unreasonable and most cities and gentrification is pushing a lot of people out of their homes and destroying long standing old communities just to throw up a whole foods and a couple of apartment complexes.

You already know I support an increase in minimum wage, am a proponent of wage transparency as well as modernizing the work force both by changing to education and by corporatations directly training these workers through various programs and not charge them if they take a job and work for the company for a short period.

There should be required education for first time receivers of loans for the various types and financial planning that should occur early on before you have access to debt.

But I'm in no way supportive of absolving people of their own malfeasance.

You are falling into the same line of thinking that got the country this way.

More concerned with punishing people than fixing what's fukked up.

Yes people shouldn't have taken out those loans, but they also should have had better options/opportunities.

At this point, it doesn't matter. The debt is driving everybody down.

Only people you are helping by your stance is the rich folks that created the situation in the first place.

 

[Master Teacher]

nope. the mortgage crisis was a disaster and if something was to be done it should have been done then.

Current home prices are unreasonable and most cities and gentrification is pushing a lot of people out of their homes and destroying long standing old communities just to throw up a whole foods and a couple of apartment complexes.

You already know I support an increase in minimum wage, am a proponent of wage transparency as well as modernizing the work force both by changing to education and by corporatations directly training these workers through various programs and not charge them if they take a job and work for the company for a short period.

There should be required education for first time receivers of loans for the various types and financial planning that should occur early on before you have access to debt.

But I'm in no way supportive of absolving people of their own malfeasance.

The mortgage crisis was a disaster, because they were running a racket.
They were adding extra points to people mortages and allowing the payments to balloon
as well the houses they got loans were worth less than they debt took out because appraisal fraud was running ramapant

 

[FAH1223]

Until the shackles of debt are taken away, people won't have the freedom to really do what they want

You are falling into the same line of thinking that got the country this way.

More concerned with punishing people than fixing what's fukked up.

Yes people shouldn't have taken out those loans, but they also should have had better options/opportunities.

At this point, it doesn't matter. The debt is driving everybody down.

Only people you are helping by your stance is the rich folks that created the situation in the first place.

This. 100%.

 

[the cac mamba]

But I'm in no way supportive of absolving people of their own malfeasance.

like i said in the other thread, im absolutely for freezing or getting rid of interests, on current loans or loans going forward

but this snapping the fingers and clearing to zero debt :huhldby: thats bullshyt