Picaro
Picaro's JournalWell, duh.
I saw a reprint of this article in the Dallas morning news this morning. My first reaction was "well, duh".
Of course people are continuing to live with their parents.
Milenials are being squeezed from all sides. On the one hand they are told that they have to go to college to have any hope of having a decent life. Unfortunately, most of these young people have to borrow large amounts of money to go to college because their parents for one reason or another don't have the kind of money that would allow them to pay tuition, fees, books, and living expenses.
Then, when they get out they find that the job market is not all that great and technology is allowing the offshoring of most of the high-paying jobs that existed in the past. This doesn't even begin to address the threat posed by robotics and artificial intelligence . So, many of these young people are unable to find jobs that pay that kind of money that would allow them to both pay off their student loans and live independently.
This system couldn't have been better designed to produce this outcome. I think, by and large, it is accidental. It is just the result of valuing profit above all else by society in general.
Haircuts happen to holders of the debt of failed or failing companies
I've seen a number a short pieces on how stupid Trump's comment about US debt holders taking a "haircut" was. In those pieces there is commentary about how it is normal for debt holders to sometimes take pennies on the dollar.
No one has noted that this only happens if you own the debt of a failing enterprise. Something Trump has s great deal of experience with. He managed several large businesses into the ground.
He has proven again and again that he can build a brand, that he is a great marketer--but he has never proven that he can perform as a manager.
He wins the nomination and he immediately thinks about the steps he would take when he has turned the US into a failed enterprise. He is planning on turning our nation into a bankrupt.
The political and financial press don't seem to be able grasp how telling this one comment is.
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Name: Ernie FergusonGender: Do not display
Hometown: Plano, TX
Home country: USA
Current location: Plano, TX
Member since: Thu Apr 30, 2009, 11:22 AM
Number of posts: 1,517
