No wonder housing starts have been so low for so long. In 2012, for example, it was estimated that 85% of college graduates had to move back in with their parents because they didn’t have a job or one that paid enough to actually enable them to afford a home, a car, etc. It’s a scandal, and one that is a huge drag on growth. Over the last 34 years, the cost of college in the U.S. While nobody can predict how all the horse trading will play out after the election, Hillary would be wise to take on the student debt crisis. On the second point, making college free for all Americans, it seems from Monday night’s speech that Bernie made serious progress here, too. (The market itself values the component pieces of the banks more highly than the whole, a telling signal.) The DNC platform now explicitly calls for the break up of Too Big To Fail financial institutions-not a silver bullet for preventing crisis, but a signifigant first step, given that these firms have now simply become too complex to manage. He’s gotten Hillary to listen on the first two points. Third, push back against the excesses of free trade. Sanders had three crucial economic planks in his campaign: First, break-up the big banks and properly regulate the financial system. According to a new McKinsey study, if current trends continue, they’ll be the first generation of Americans to do less well than their parents did. They are coming into the job market-still a sluggish one, in which the largest chunk of jobs created since the financial crisis are $15 an hour or less-with a record amount of student debt, an issue that will probably become the next subprime crisis. For that reason, I felt for the weeping millennials on the Democratic convention floor Monday night.
0 Comments
Leave a Reply. |