Why Baby Boomers Don't Understand Occupy Wall Street

[Usui Takumi 1,562]

1. Rent

2. Insurance.

3. Get a job first.

Well I'd say No.1 is definitely a bad decision, but 2 and 3 are catch 22s. With no degree, its likely very hard to get a job in this economy, and if you do it probably doesn't have benefits. So many go to school rather than remain unemployed.

[Alex & Rachel 78]

It is very, very hard to get a decent paying job with no degree, although it's not too tough finding a job paying minimum wage and some benefits. Your chances of then progressing very far/being promoted are fairly slim, however.

It's easy enough to say 'work while you study', but it really depends on what degree you are doing and how high your tuition fees are. Taking 10-15 credits a quarter through evening courses at a community college while working a 40 hour work week? Not a problem; I do it, and the classes are very cheap. However, my BA required me to be physically in school 39 hours a week, and that didn't account for all of the homework and study-time I had to do outside my class. I worked pretty much every available hour I could and I did graduate but I had a bloody miserable time and yes, my grades suffered because some months I chose paying rent over revising my essay. I still have student debt from my BA, too, because the money I earned from working wasn't sufficient to cover rent + food + school costs (and believe me, I lived VERY cheaply). Oh, and living with parents/commuting was not an option. Not only was there not a school offering the degree within a reasonable commuting distance from my parents, but my parents believe all their children should be out of the house aged 18 (fair enough, in my opinion!).

Still, glad I did do the degree first. There is no way I'd be earning as much as I am now (not that I earn very much) without a degree. Sure, my degree is in an unrelated field, and I'll need further qualifications in a relevant field to progress along my current career path, but if I hadn't had a degree at all my boss would not have hired me.

Catch-22, as Sousuke says.

[mawilson 2,133]

They could create tariffs that are not aimed at particular countries for instance.

The so-called "China bill" doesn't mention China once. It talks in general about "countries that manipulate their currencies".

[mawilson 2,133]

And 2 out of 3 of those are unheard of in the socialist European countries....

That's why those European countries are doing so well and the European monetary union is on the verge of collapse.

Well I'd say No.1 is definitely a bad decision, but 2 and 3 are catch 22s. With no degree, its likely very hard to get a job in this economy, and if you do it probably doesn't have benefits. So many go to school rather than remain unemployed.

Why is renting a bad decision?

[Usui Takumi 1,562]

Why is renting a bad decision?

Oh sorry, my No. 1 (Mortgage)

[dalegg 143]

And why do they keep saying they are the 99%? This includes the top 2-5% too and I seriously doubt that much of the top 2-5% is really standing there with them. In fact, there are probably more in the top 1% that support this movement than in the top 2-5%. Probably aren't really a lot of people there from the 85% on up group until you get to that elite 1%.

I need a graph of what income group these protesters are really part of.

[mawilson 2,133]

And why do they keep saying they are the 99%? This includes the top 2-5% too and I seriously doubt that much of the top 2-5% is really standing there with them. In fact, there are probably more in the top 1% that support this movement than in the top 2-5%. Probably aren't really a lot of people there from the 85% on up group until you get to that elite 1%.

I need a graph of what income group these protesters are really part of.

Because "we're the bottom 30%" just doesn't have the same ring to it.

[웃 910]

Because "we're the bottom 30%" just doesn't have the same ring to it.

[slim 1,530]

There are 3 types of debt that most cite and its not cars or electronics.

1. Mortgage

2. Medical

3. Student

All three of those are optional.

Well I'd say No.1 is definitely a bad decision, but 2 and 3 are catch 22s. With no degree, its likely very hard to get a job in this economy, and if you do it probably doesn't have benefits. So many go to school rather than remain unemployed.

So, let me get this straight... instead of getting a job - any job - and paying for things they use, they decide to not work and rack up tens to hundreds of thousands of dollars in debt?

And that's someone else's fault how?

It is very, very hard to get a decent paying job with no degree, although it's not too tough finding a job paying minimum wage and some benefits. Your chances of then progressing very far/being promoted are fairly slim, however.

How about, instead of worrying about making a bunch of money, we encourage people to live within their means?

People wouldn't need to constantly move up and make more money if they lived within their means.

[Alex & Rachel 78]

How about, instead of worrying about making a bunch of money, we encourage people to live within their means?

People wouldn't need to constantly move up and make more money if they lived within their means.

This really depends on where you live. A 250 sq ft studio apartment on the outskirts of the city here is $900 a month. Renting a bedroom in a shared house, which most of my friends do, is still $500-700 a month. You're on minimum wage, and that's a good 50% of your income going on rent.

BTW - I live within my means. One car ten years old, paid off. Shared apartment. No credit card debt. No mortgage. No cable. Go out perhaps once a month. So don't think I'm not arguing for that.

Moving also isn't always an option when you need the capital to save up to move elsewhere, or you have family commitments.

I'd argue medical's only really optional so long as you stay in good health - and good luck. I was without insurance for a year and luckily managed to avoid any accidents, and good genes pretty much ensure I have an low chance of developing cancer, diabetes or heart disease. But others certainly aren't so fortunate.

Rent, medical and tuition fees are three major costs which have increased at a much, much higher rate than salaries.

[slim 1,530]

If you can live within your means, why can't everyone?

[mawilson 2,133]

This really depends on where you live. A 250 sq ft studio apartment on the outskirts of the city here is $900 a month. Renting a bedroom in a shared house, which most of my friends do, is still $500-700 a month. You're on minimum wage, and that's a good 50% of your income going on rent.

Why live in the city if you're poor? (Not "you" specifically, Rachel.)

[^_^ 5,021]

God has an affordable housing plan and it's called living in the hood.

[I AM NOT THAT GUY 5,715]

God has an affordable housing plan and it's called living in the hood.

If you call that living. I rather take my chances with the coons, the squirrels, and the possums.

[Alex & Rachel 78]

More job opportunities, shorter commuting distance (sometimes it's a case of balancing increased rent vs. gas prices/car maintenance costs), convenience of having schools/shops nearby. I had a friend who had cheap rent living halfway up the Santa Cruz mountains, but he was pretty screwed when his car got totalled.

And I live within my means, but also recognise that I am fortunate enough not to have been in a car accident, have any serious health problems, been laid off, entered into a rental contract, etc. If the absolute worst happened we have family living near by who could provide some assistance. Hopefully it stays that way; I know many others who haven't been so lucky.