“The ‘New Normal’ brought to you by Obama & Co is just what you see before you.”
You’re right; if people don’t yet realize by now that “globalization” and the “information superhighway” were the death knells for our way of life, they’ll realize it soon enough. This isn’t a temporary malaise that will pass; the traditional “quick fixes” (war and government spending) have failed, and there is nowhere else to go. Unless Red China and India engage in a destructive nuclear war, this is our future...
Globalization, Technology and Demographics are the key to economic fundamentals.
We are victims of our own success.
IMO, had the US government never got into the student loan guarantee (Like mortgages) we wouldn’t have a student loan bubble. As long as colleges know the government will guarantee every loan they’ll raise prices. Democrats will never go for it but student loans MUST go back to being privatized. When students have to go convince a banker for a loan for a certain field of study, they must be able to convince said loan officer that they are not a high risk and has a high probability to pay such loan back. Plus students MUST put up at the least 20% so that they too have skin in the game.
Sorry for the rant but that’s how I feel.