Financial bailout by US government...

Its funny listening to a bunch of college kids argue about the economy. Its funny reading these twisted uneducated views.


Oh oh wait Kraken I took Macroeconomics in college. I know what I'm talking about.

Many people borrowed well within their means a few years ago and now with the cost of everything rising (inflation, yes Phate I heard of it) its making it damn near impossible to live within ones means anymore. Taxes, groceries, gas prices, health insurance. Its all skyrocketing. I'm not whining because I'm doing ok. But you have to realize that things are getting out of control. I agree with Spicy the individual is very much at fault for taking out loans which they could not afford. There was a forumla that only allowed on to borrow 1.5 times their annual income. The past 10 years or so this formula had been tossed out the window and lenders were preying upon uneducated borrowers. Interest only loans and adjustable rate mortgages are predatory practices that are solely designed for maximum profit. So really you can't point the finger at any one person or group of people.

A. The lender should have been more responsible
B. The borrower should have been smarter


Hey health insurance cost. Theres something you college kids don't have to pay for. Tack on an extra 500 bucks a month to the budget your parents allow you to have and see how far you can stretch it.
 
Kraken said:
Hey health insurance cost. Theres something you college kids don't have to pay for. Tack on an extra 500 bucks a month to the budget your parents allow you to have and see how far you can stretch it.
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This is one of the reasons I vote democrat. The people should not be held "responsible" for paying for all of their health insurance just like we shouldn't be held responsible for all of our college money. The government should pay for some, if not all, of this. Affordable education, now that's an economic stimulus.

Because the government doesn't pay for health insurance, I'll just have to get a full time job that provides benefits...
 
spicypumpkin said:
This is one of the reasons I vote democrat. The people should not be held "responsible" for paying for all of their health insurance just like we shouldn't be held responsible for all of our college money. The government should pay for some, if not all, of this. Affordable education, now that's an economic stimulus.

Because the government doesn't pay for health insurance, I'll just have to get a full time job that provides benefits...
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I disagree. do you really want our useless government controlling our healthcare? People would be dying waiting for the government to respond to any issue. Look at the farce that is the Canadian socialized health system.

I'm not sure the answer to this one maybe privatization like our auto insurance. Better rates for healthy people and higher rates for higher risk people. I could argue with myself about that one though. LOL

Education costs have gone through the roof making that totally unattainable for the average person. I would support this system being something similiar to Europe's. Again that is a result of greed. The universities are making money hand over fist. Is 600 bucks or more per credit hour really necessary?

It was 125 a credit hour for undergrad and 180 for grad school when I went. That was a nationally recognized architecture school.
 
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Kraken said:
Education costs have gone through the roof making that totally unattainable for the average person. I would support this system being something similiar to Europe's. Again that is a result of greed. The universities are making money hand over fist. Is 600 bucks or more per credit hour really necessary?


It was 125 a credit hour for undergrad and 180 for grad school when I went. That was a nationally recognized architecture school.
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This is why community college is a great option for the first 2 years. It's $20 per unit (at my school), the class sizes are smaller, and the professors are more dedicated to teaching because they don't have to do research like they do at the universities.

The funny thing is, it's actually cheaper to go to most private schools than it is to go to the public universities if you meet certain family income requirements and add in grants for having good grades. This definitely isn't a good thing. I thought publicly funded education was supposed to be a better option for lower income students. The whole system should be overhauled...
 
wwwwoooooooaaahhhh!

no wonder I have stayed out of this thread.

I just wanted to see what avie Spicey was running these days!

carry on

oh hey, and can I borrow 5 bucks for peanut butter and pita bread.

"ATHLETE- will run for food"

FF
 
spicypumpkin said:
The funny thing is, it's actually cheaper to go to most private schools than it is to go to the public universities if you meet certain family income requirements and add in grants for having good grades. This definitely isn't a good thing. I thought publicly funded education was supposed to be a better option for lower income students. The whole system should be overhauled...
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Must be different in California. But in most states, it cost way more to go to a private university than it does a public university.
 
Umm, even in California it costs way more to go to private university.

It's so easy to get financial aid and get the government to pay for everything.
 
Kraken said:
Its funny listening to a bunch of college kids argue about the economy. Its funny reading these twisted uneducated views.


Oh oh wait Kraken I took Macroeconomics in college. I know what I'm talking about.

Many people borrowed well within their means a few years ago and now with the cost of everything rising (inflation, yes Phate I heard of it) its making it damn near impossible to live within ones means anymore. Taxes, groceries, gas prices, health insurance. Its all skyrocketing. I'm not whining because I'm doing ok. But you have to realize that things are getting out of control. I agree with Spicy the individual is very much at fault for taking out loans which they could not afford. There was a forumla that only allowed on to borrow 1.5 times their annual income. The past 10 years or so this formula had been tossed out the window and lenders were preying upon uneducated borrowers. Interest only loans and adjustable rate mortgages are predatory practices that are solely designed for maximum profit. So really you can't point the finger at any one person or group of people.

A. The lender should have been more responsible
B. The borrower should have been smarter


Hey health insurance cost. Theres something you college kids don't have to pay for. Tack on an extra 500 bucks a month to the budget your parents allow you to have and see how far you can stretch it.
Click to expand...

At the end of the day, it's called purchasing power parity. That keeps decreasing because most people have not had a raise sufficient to cover the gross cost of living/inflation since 1992. We keep going into the hole. We make way more money but it just doesn't go as far because it costs so much more to live.

And people wonder why the middle class has no disposable income after taxes and bills ...
 
Well , first round was a failure....

"In a stunning vote that shocked the capital and worldwide markets, the House on Monday defeated a $700 billion emergency rescue for the nation's financial system, ignoring urgent warnings from President Bush and congressional leaders of both parties that the economy could nosedive without it. The Dow Jones industrials plunged nearly 800 points, the most ever for a single day."
 
i_love_muscle said:
At the end of the day, it's called purchasing power parity. That keeps decreasing because most people have not had a raise sufficient to cover the gross cost of living/inflation since 1992. We keep going into the hole. We make way more money but it just doesn't go as far because it costs so much more to live.

And people wonder why the middle class has no disposable income after taxes and bills ...
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It's called cost of living....we are may not be keeping up with it, but that is not completely to blame for our poor economy....that would be Bush.......
 
I'm not a Bush supporter but you can't pin the blame on any 1 person or party. There is plenty of blame to go around for sure. I feel compelled to point out that in the 90's the Clinton Administration developed the idea of sub-prime loans. Then his administration forced lending institutions to provide these loans to high risk, bad credit people. Janet El Remo his Attorney General then told those companies that were still unwilling to comply with such a risky non-profitable move that if they did not comply she would prosecute them through the U.S. Attorney Generals office. Bam!!! What choice is left??? Clinton does this why? to buy votes from the impoverished by giving them loans they do not qualify for at sub-prime to boot??? That is for you to decide.
 
Kraken said:
I'm not a Bush supporter but you can't pin the blame on any 1 person or party. There is plenty of blame to go around for sure. I feel compelled to point out that in the 90's the Clinton Administration developed the idea of sub-prime loans. Then his administration forced lending institutions to provide these loans to high risk, bad credit people. Janet El Remo his Attorney General then told those companies that were still unwilling to comply with such a risky non-profitable move that if they did not comply she would prosecute them through the U.S. Attorney Generals office. Bam!!! What choice is left??? Clinton does this why? to buy votes from the impoverished by giving them loans they do not qualify for at sub-prime to boot??? That is for you to decide.
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I think Bush perpetuated this problem in a HUGE way with this asinine war....
 
gotfit said:
I think Bush perpetuated this problem in a HUGE way with this asinine war....
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fo sho. He's the only president in history to have a war and a recession at the same time. Historically during a war our economy is going like gangbusters.
 
Kraken said:
fo sho. He's the only president in history to have a war and a recession at the same time. Historically during a war our economy is going like gangbusters.
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LMAO!

There is so much to respond to that......
I don't know where to start.....:speechless:
 
evolution said:
Must be different in California. But in most states, it cost way more to go to a private university than it does a public university.
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If your family income is less than a certain amount and you have good grades then most of your tuition could be covered at a private school. It's called need-based financial aid, and public schools don't have as much money to give to it.



But if you are affluent, then yes, public school would be cheaper.
 
gotfit said:
It's called cost of living....we are may not be keeping up with it, but that is not completely to blame for our poor economy....that would be Bush.......
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No, it's purchasing power parity. That is tied in to the cost of living. And it's not one person's fault. It's a corporate mentality.
 
I watched the vote in congress live on TV last night (day time for you guys I guess) and thought it was pretty interesting. Main street don't want to foot the bill and your politicians are listening to the voters to keep their seats.
I wonder what people will think if Wall Street collapses 1920's style and they're left with a bigger bill than they ever imagined possible though?

That's the problem with democracy, financial decisions are being dictated by the millions of Homer Simpsons in America who don't know squat about economics

This is a pretty good article if any of you guys are interested in seeing a British view point on this situation
 
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