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Old 04-06-2009, 02:45 PM
bkjazfan bkjazfan is offline
 
Join Date: Jul 2007
Location: South Los Angeles, Ca.
Posts: 1,192
Default Re: Financial Pneumonia

I didn't understand a word they said. Having never taken a class in business and economiocs doesn't help. I have read a bunch of material on econ but this conversation along with practically everything Megan McArdle says (splitting up a mansion) goes right over my head.

What I do know is the usual: 50% drop in S & P, unemployment going up, taxes and prices doing the same in California, and fairly well versed on the de-industrialization taking place and how it effects many industries, the auto being the prime example of that now.

What bothers me for being a person raised in the 50's and 60's is the price of everything now compared to then. My dad made hardly any money but we had a small tract home with a family of 5. Also, the choices to spend money on was so limited for a youngster as it isn't now.

Another sore spot is the middle class job base becoming more scarce. For example, what is a middle aged, out of work, former blue collar worker suppose to do? Retrain for what? Not only that but as a teen I never had a problem finding a job now I don't think that is the case.

John

Last edited by bkjazfan; 04-06-2009 at 03:54 PM..
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