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Old 04-12-2011, 09:57 AM   #1 (permalink)
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Default 25 Reasons To Be Absolutely Disgusted With The U.S. Economy

This is from zerohedge.com and if you pay attention to US financial ongoings in the least, it is a great source.

Money Problems That Never Seem To End: 25 Reasons To Be Absolutely Disgusted With The U.S. Economy | zero hedge

Note: Be sure to read his thoughts afterward and check the link to the Harvard entrance exam from 1869.

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Old 04-12-2011, 12:10 PM   #2 (permalink)
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most of those were pretty topical, he didn't list any of the reasons why those things are happening so it just comes off as populist angst.

under-impressed.
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Old 04-12-2011, 12:28 PM   #3 (permalink)
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Just as you didn't offer a reason why you think it's "populist?" It's a list, not an essay.
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Old 04-12-2011, 05:42 PM   #4 (permalink)
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It's populist just because it represents the popular common angst right now, which has a libertarian trend, but which completely misses the point all together.
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Old 04-13-2011, 07:48 AM   #5 (permalink)
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So you use the term populist as it relates to popular opinion rather than the populist party. Still, there are items on that list that are not necessarily common knowledge when it comes to most people in the US and that IS the point.
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Old 04-13-2011, 08:57 AM   #6 (permalink)
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Despite thinking that the author didn't really seem to be trying to lean one way or the other, I agree with most of what you have here.

I initially thought that Obama was going to be a "middle-of-the-road" president and to some degree thought that he had to [slightly] operate that way to keep the "enemies" at bay, but the only reform he has successfully brought is his shift to the other side.

I agree that the Bush tax cuts should be repealed but have to add that Clinton aided and abetted there. What's sad is that many of the heads of the banks that went under due to shady CDO dealings are now most of Obama's financial advisors. Having "control of his ear" is going to significantly aid in deregulation and help with those who lobby against financial reform... the banks that were bailed out now put more money towards this than ever before and they are doing it with money that we, the taxpayers, gave them. This deregulation means a continuation of the poor service that has many hard working people without jobs and without homes due to a lack of governance on derivatives and looking the other way when approving people for "doomed" loans. These asshole bankers would package a CDO, sell it and then bet against its success on the market. And these are the people that are advising Obama?!?

Yeah, #6 should have read:

#6 The $38.5 billion in budget cuts that the Republicans and the Democrats have agreed to represent approximately one percent of the federal budget and are still not aimed at the issues of true significance, for instance, military spending(probably the largest). Much more corporate taxation has to be levied along with the correct cuts to even attempt a fix.
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Old 04-13-2011, 10:28 AM   #7 (permalink)
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Let me explain....not that Bush was actually better (far worse in fact) but with Bush, I expected to be fucked over as a middle class blue collar guy. Obama promised something different yet I am getting fucked just as hard as I was by Bush only now I have the added insult of a sense of betrayal....
Exactly!! When he was campaigning I heard a lot about how he was going to support small business development. Want to know how my small business has developed? I have cut my labor force by almost half( from 18, down to 10) have sold one of my trucks, my service van, and some of my equipment. Now rather then spending my time expanding my business, I have to scramble to keep the 2 crews I have left busy. If something doesn't "change" and damn soon I'll be out of business all together. I dunno about anyone else's idea of development is but this isn't what I had in mind.

I was really hoping for an F.D.R. type turn around. We need a new deal, have any of you taken a close look at our infrastructure? I just don't understand why we are pumping billions into foreign countries and bailing out failed businesses when our country is crumbling before our eyes.

It's the same shit, the rich get richer, the poor get poorer, and now our middle class has been sold to foreign countries all in the name of corporate bottom lines. See ya all in the welfare line lol
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Old 04-13-2011, 11:10 AM   #8 (permalink)
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Exactly!! When he was campaigning I heard a lot about how he was going to support small business development. Want to know how my small business has developed? I have cut my labor force by almost half( from 18, down to 10) have sold one of my trucks, my service van, and some of my equipment. Now rather then spending my time expanding my business, I have to scramble to keep the 2 crews I have left busy. If something doesn't "change" and damn soon I'll be out of business all together. I dunno about anyone else's idea of development is but this isn't what I had in mind.

I was really hoping for an F.D.R. type turn around. We need a new deal, have any of you taken a close look at our infrastructure? I just don't understand why we are pumping billions into foreign countries and bailing out failed businesses when our country is crumbling before our eyes.

It's the same shit, the rich get richer, the poor get poorer, and now our middle class has been sold to foreign countries all in the name of corporate bottom lines. See ya all in the welfare line lol
An interesting thing to note, something that's especially relevant to me, is that students are now taking on huge amounts of debt in order to put themselves through college, because middle/working-class families no longer have any money to support them.

The scary reality is that all these students who are going to be future leaders and innovators, are going to be financial slaves to the rich because of their debt (credit lenders). This gives the rich even more power and influence over the educated populous.

So far I've put myself through 2 years of college without racking any debt thanks to scholarships and work money. My funding magically got cut in over half however for next year, so I'm going to have to work my ass off, which is something I don't like doing because I already spend most of my time studying (3.75 GPA currently).

I originally was not going to go to college if it meant racking up debt, as I just do not believe in the abuse of credit except for emergencies, (it fucks you over in the long-run, as Americans have found out) Depending on how things go, I might have to postpone a semester or two just to save up money to attend.

At this point we really do need something revolutionary, but the problem is that with the way our political system works now, those who have been bribed can gang up and shoot-down down anything that stands in their way. In a sense, the democratic process is working against us because the majority are all corrupt
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Old 04-13-2011, 12:26 PM   #9 (permalink)
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An interesting thing to note, something that's especially relevant to me, is that students are now taking on huge amounts of debt in order to put themselves through college, because middle/working-class families no longer have any money to support them.

The scary reality is that all these students who are going to be future leaders and innovators, are going to be financial slaves to the rich because of their debt (credit lenders). This gives the rich even more power and influence over the educated populous.

So far I've put myself through 2 years of college without racking any debt thanks to scholarships and work money. My funding magically got cut in over half however for next year, so I'm going to have to work my ass off, which is something I don't like doing because I already spend most of my time studying (3.75 GPA currently).

I originally was not going to go to college if it meant racking up debt, as I just do not believe in the abuse of credit except for emergencies, (it fucks you over in the long-run, as Americans have found out) Depending on how things go, I might have to postpone a semester or two just to save up money to attend.

At this point we really do need something revolutionary, but the problem is that with the way our political system works now, those who have been bribed can gang up and shoot-down down anything that stands in their way. In a sense, the democratic process is working against us because the majority are all corrupt
That's one of the (many) things that make me sick, they are cutting funding to education in more ways then one. Cutting teachers salaries, eliminating positions, cutting grants and scholarships. It is all adding up to a grim future for sure. It's sad that an honest young person who tries to do things the sensible way is getting screwed out of college. All the while they shoot a couple millions bucks worth of missals into Libya in a day.

I agree something has to give, the corruption in this country has reached a boiling point. The power brokers can longer hide from what's going on. I see it in peoples faces everywhere I go, a kind of disheartened look in their eye. I think even the sheeple that have been fooling themselves for decades are starting to wake up and realize that the American dream is turning into a nightmare.

I was having a beer with an old friend of mine who is in the same business as me. He was going on about how he's broke and going under. He is the type that goes out and buys a brand new truck, 3k down 500/ month payments. He gave me shit for years because I buy a old truck for a couple grand and fix things as I go. Always made more sense to me, I could build a damn truck for what he would spend on payments in a year. All I could do was laugh and say "guess the next round is on me" Somehow though it seems that people like us that try to do things with common sense and hard work always get the shaft.
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Old 04-13-2011, 01:03 PM   #10 (permalink)
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The education system from child care all the way through grad school is a sad state of affairs.

I remember a very good friend and I were in a statistics course together and we both were always the skeptical and analytical type. Our "professor" was a complete idiot and we despised her for it... not having the capacity to explain things to people when they didn't understand while confusing the shit out of people when she made an attempt. She was a wretched excuse for a teacher if there ever was one, but when she told the class that the text book company was flying her (along with other professors from various areas) to a beach front resort in Cancun for a week to discuss the next text book, we lost it and became very vocal. "So this is why we pay exorbitant amounts," etc... Why would they need to go to Cancun to do this? We found it absolutely ridiculous, let her know, and she asked us to leave the class, lol... and we did... in disgust. We were a few yrs older than most of the others and worked full time while we were also in school full time.

Anyway, the story illustrates that it is coming from may angles when university is involved and it drives me mad.

Student debt should [at the very least] be relieved of interest.

Also, the misappropriations regarding public school teacher pensions across the nation are incorrigible. When I read the article below last year, I was in shock. It essentially states that public teacher pension funds are $600 billion less (from 933 to 332) since the 2007 market debacle, BUT... only about $116 billion is directly attributable to the market crash. The funds aggressively “discount” the cost of paying benefits in the future because they assume that stocks’ values will be much higher by the time the funds have to pay out those benefits. This assumption permits public officials to contribute fewer dollars toward satisfying these plans’ obligations, and thus to avoid taking the cautious but unpopular step of raising taxes or cutting services.

Civic Report 61 | UNDERFUNDED TEACHER PENSION PLANS: It’s Worse Than You Think

Sad state of affairs I tell you...
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