I'm sorry, you think the recession is a good thing because it's a 'wake-up call'? No, that is what I would call 'looking on the bright side'. That is trying to find a redeeming factor in a horrible, horrible catastrophe.
I love how you're saying 'the price of tuition WAS high' 'other prices WERE so off the charts'. Darling, this hasn't changed. I am merely eighteen and the world is against us. The redeeming factors is that we have the smarts to fix what your generation ruined. Because of this atrocity, we will be so much more savvy than you ever could dream. That does NOT make the recession a GOOD thing.
Bazof CA7:08PM May 13, 2010
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 Achenbaumof CT7:55PM July 01, 2009
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
FMKof TX9:20AM June 24, 2009
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.
LibertyViniof NJ11:54PM June 23, 2009
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.
Muserof NM10:17PM June 23, 2009
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.
Jayof TX4:24PM June 23, 2009
"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.
Micahof MN2:35PM June 23, 2009
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.
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Baz of CA 7:08PM May 13, 2010
Wyn Achenbaum of CT 7:55PM July 01, 2009
FMK of TX 9:20AM June 24, 2009
LibertyVini of NJ 11:54PM June 23, 2009
Muser of NM 10:17PM June 23, 2009
mick dundee of UT 6:49PM June 23, 2009
dw of TX 5:54PM June 23, 2009
Jay of TX 4:24PM June 23, 2009
Micah of MN 2:35PM June 23, 2009
stitchathome of VA 1:38PM June 23, 2009