[The recession will be over] when there is hope for every class in America. Not just the upper and the middle but the lower class as well.
It is going to take more than the recession being over for the bottom two thirds of us to thrive. It is going to take a revision of how we tax ourselves.
We need to stop taxing wages and sales, and even buildings, and place more of our tax burden on land value. Doing so will stabilize our economy, reduce urban sprawl, and motivate the owners of our very best urban land to put it to better use, creating jobs for all who want to work and housing for those who would just as soon live close to the centers of things, at an affordable price.
Research the ideas of Henry George. Look online for "Progress & Poverty" which shows the connection between these two, and how we can have progress WITHOUT poverty. We can, but not the way we're going about it.
Wyn Achenbaum
of CT
@
Jul 01, 2009 19:55:39 PM
Advice from Mom
She has it almost right! Take advice from a 50+ yr old mother of 2. I was a teenager in the 70's with high unemployment, high interest rates, and people stuck in homes they couldn't sale because they owed more than they where worth. Over the past 30+ yrs of my working life, I have been laid off twice and I have taken any job that wasn't illegal or immoral to support my family. I have only take welfare once and HATED it!
Credit Cards are the Worest idea for anyone that wants to have anything of value in life. When you are in a hole - Stop Digging! You have to pay yourself first, pay your living exp. second, then if you can pay on your debt.
Health, wealth, and happiness comes from standing and facing the tiger, and not being chased by one.
Mom in Texas
FMK
of TX
@
Jun 24, 2009 09:20:57 AM
Suze Is Right About Recession Being A Good Thing
Recessions and depressions are CORRECTIONS. Irrational, unsustainable amounts of money, credit, and debt, unaffordable housing prices, all of it needed to be corrected. Our biggest problem is that the sainted Obama is taking Bush's mistaken ideas (bailouts and profligate money creation)and making them a thousand times worse.
LibertyVini
of NJ
@
Jun 23, 2009 23:54:39 PM
The "best" thing happening for young people
is not the recession. It is the election of Obama and a change in national mindset about MANY things, especially health care. Perhaps, rationally, though, we can credit the recession as a big reason why Obama got elected in 2008.
McCain, you recall, thought "the fundamentals of the economy are strong". Then people woke up with the financial house falling down and realized McCain and Palin were clueless.
Muser
of NM
@
Jun 23, 2009 22:17:36 PM
she is an idiot
anyone who follows her advice, or worse, pays for it, deserves what they get!
It's amazing that her system works so well she had to "change it" during the recession. I'll stick with Dave Ramsey, his advice is timeless, because it's based on biblical principals, not FICO.
Jay
of TX
@
Jun 23, 2009 16:24:33 PM
Suze Orman the self-admitted fraud
"I'm a personal finance expert. My expertise is not as an economist, not as a stock market guru, not as a precious metal predictor, or in interest-rate foreshadowing. My job is to look at what happened in the economy and what is going on in the world of finance and to tell people, based on fact, this is what's happening now; this is what you need to do with your personal money."
So Suze Orman markets herself as a financial expert, yet is clueless about basic economy? This is like an airplane designer who doesn't understand aerodynamics, or a doctor who doesn't know what the endocrine gland is.
She doesn't understand economics, and as such, can't predict or follow anything that is happening right now, or in the future, and as economics is about money, and money is finance, Suze Orman is a financial fraud.
Micah
of MN
@
Jun 23, 2009 14:35:15 PM
Don't fall for the spin Suze
I respect Suze Orman but I'm glad you finally got to the part in the interview where she revealed that she is a personal finance expert and NOT an economist. Her rant against the unamed, faceless CEO who looked into the camera and lied was interesting. What is his name? The only one I remember said to have looked into the camera and lied was Barney Frank who was warned of this years ago. The Fannie Mae/Freddie Mac scandal made them unable to take on the usual subprime debt thus forcing banks to do it. The real culprits were the ratings companies who lied on the ratings of the "bundled default loans" not CEO's(banks) who were forced by law to accept these loans. MSNBC did a great expose on it eventhough they left out congress's role in the debacle. But yes, economize! But with trillions in debt our children will pay Suze.
stitchathome
of VA
@
Jun 23, 2009 13:38:36 PM
Suzie Orman's column
I think we will need to completely reorganize the school system, or teaching itself. I recently was told by an elementary school teacher that her kids were explaining to the rest of the class how to use the internet--more than she knew. These kids are literate. They have figured out how to read and write. What does this new world mean to teaching?
What does this new world mean to four-year colleges? Is this the moment to back up, take a lok at education, and decide what's relevant for the future?
Wyn Achenbaum of CT @ Jul 01, 2009 19:55:39 PM
FMK of TX @ Jun 24, 2009 09:20:57 AM
LibertyVini of NJ @ Jun 23, 2009 23:54:39 PM
Muser of NM @ Jun 23, 2009 22:17:36 PM
mick dundee of UT @ Jun 23, 2009 18:49:18 PM
dw of TX @ Jun 23, 2009 17:54:33 PM
Jay of TX @ Jun 23, 2009 16:24:33 PM
Micah of MN @ Jun 23, 2009 14:35:15 PM
stitchathome of VA @ Jun 23, 2009 13:38:36 PM
ruth gottstein of CA @ Jun 23, 2009 13:15:51 PM
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