The US economic Meltdown

[darth los]

I cannot wait, until I receive my 2nd college degree. So, I can get a great paying job and not have to worry about this bullsh!t. Hopefully, one more year. Good for you dude!! I'm in a similar situation. I graduate from college in 4 months. Can you say pay upgrade !?! lol I wanna hear what all those people who say college is not that important once this sh8tty economy is truly felt. The thing is we hear about a financial collapse, but as is usually the case with Americans we don't take it seriously unless it affects us directly (again, see Iraq war) Wait until you can't go get a loan for school or your car. It will truly hit the fan then.

[MaximusIncredulous]

I wanna hear what all those people who say college is not that important once this sh8tty economy is truly felt. If the country slides into a depression/severe recession with resultant hiring freezes at major corpos, a degree or two may not provide the protection that's expected.

[SymphonicX]

Speaking as someone who's just got a 100% mortgage a year ago, who's put so much time and effort into his property, I find it very depressing, extremely scary and slightly offensive that some of you are wishing for a great depression. I don't want to lose my home because these bankers have screwed up, and whilst anarchy is certainly an attractive prospect for those of you without true financial obligations, to me it's the difference between being warm with a roof over my head and cold, out on the streets. This isn't funny at all.

[Mike70]

remember back when this industry was being deregulated and all the goofballs were saying it was going to usher in a golden age of home ownership for people who previously couldn't afford it? i do. remember at that same time there were people, who were decried as cynics and panic mongers by the deregulation supporters, saying that this would inevitably lead to an economic meltdown somewhere down the road. i do. well you reap what you sow. the federal gov. deregulated the crap out of this industry and let its oversight of it slip away and here we are with our fingers on that proverbial meltdown button. the very same industry has spent buckloads of money on lobbyists who have stonewalled just about every attempt by the federal govt. and the states to bring it back into line and to make it cease and desist with the questionable loan and business practices. i think a lesson should be learned from all this but it probably won't. deregulating anything that the federal govt. ought to be exercising oversight of is a very, very bad idea. esp. when it involves monetary concerns. people and corporations simply cannot be trusted to do the right or fair thing when it comes to putting money in their pockets. if it takes the feds looking over their shoulders every time they make a move to prevent something like this from happening again - so be it.

[darth los]

remember back when this industry was being deregulated and all the goofballs were saying it was going to usher in a golden age of home ownership for people who previously couldn't afford it? i do. remember at that same time there were people, who were decried as cynics and panic mongers by the deregulation supporters, saying that this would inevitably lead to an economic meltdown somewhere down the road. i do. well you reap what you sow. the federal gov. deregulated the crap out of this industry and let its oversight of it slip away and here we are with are fingers on that proverbial meltdown button. the very same industry has spent buckloads of money on lobbyists who have stonewalled just about every attempt by the federal govt. and the states to bring it back into line and to make it cease and desist with the questionable loan and business practices. i think a lesson should be learned from all this but it probably won't. deregulating anything that the federal govt. ought to be exercising oversight of is a very, very bad idea. esp. when it involves monetary concerns. people and corporations simply cannot be trusted to do the right or fair thing when it comes to putting money in their pockets. if it takes the feds looking over their shoulders every time they make a move to prevent something like this from happening again - so be it. I believe those peole were called REPUBLICANS! OBAMA 08' !

[slickwilly13]

Good for you dude!! I'm in a similar situation. I graduate from college in 4 months. Can you say pay upgrade !?! lol I wanna hear what all those people who say college is not that important once this sh8tty economy is truly felt. The thing is we hear about a financial collapse, but as is usually the case with Americans we don't take it seriously unless it affects us directly (again, see Iraq war) Wait until you can't go get a loan for school or your car. It will truly hit the fan then. Yeah, I cannot wait to get that BBA in business. I'll knock out the management minor afterwards. Then the Masters. Figure I'll work full time in oil and go to class at night during a part time basis. Should complete in it 3-5 years. Depending on the number of classes I take each semester.

[darth los]

Yeah, I cannot wait to get that BBA in business. I'll knock out the management minor afterwards. Then the Masters. Figure I'll work full time in oil and go to class at night during a part time basis. Should complete in it 3-5 years. Depending on the number of classes I take each semester. I always root for my fellow dead heads in their endeavors. Keep us posted and good luck.

[sandrock74]

I cannot wait, until I receive my 2nd college degree. So, I can get a great paying job and not have to worry about this bullsh!t. Hopefully, one more year. I hope it works out for you! The way it is here, a college degree don't mean squat. People are leaving college and there's no jobs to be had. When you include all the people who have had their jobs shipped overseas, we have a very highly skilled and experienced unemployed workforce.

[AcesandEights]

I believe those peole were called REPUBLICANS! That's a bold statement. How do you reckon this is the case? Bill Clinton did do a few things that contributed towards de-regulation.

[Mike70]

That's a bold statement. How do you reckon this is the case? Bill Clinton did do a few things that contributed towards de-regulation. that's why i didn't point fingers at any one group in my post. it takes 60 votes to get any thing out of the senate, so i assume that some democrats had to have voted for this turdtacular idea of de-regulation.

[darth los]

That's a bold statement. How do you reckon this is the case? Bill Clinton did do a few things that contributed towards de-regulation. Clinton was a sell out who betrayed Democratic principles and doctrines in order to govern as a centrist thus maintaining his grip on power.

[Skippy911sc]

A College degree does not mean you are guaranteed employment. I have an MBA and if I went looking for a new job...none would be available or the minute you start making a decent buck they $hit can you for some one younger who would do it for a heck of a lot less money. This is not good for anyone. They must resolve this credit crisis fast and hopefully like the S&L crisis before, make a little extra money as a result.

[acealive1]

Clinton was a sell out who betrayed Democratic principles and doctrines in order to govern as a centrist thus maintaining his grip on power. so what did george bush do? stay faithful to the people who elected him?

[slickwilly13]

Washington Mutual closed down. http://news.yahoo.com/s/nm/20080926/..._jpmorgan_news

[DjfunkmasterG]

Too bad they didn't wipe out my CC debt. I have a Visa with a balance of $1500 I owe them, looks like now I will be making my CC payments and Car Payment to the same bank.