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BB&T Corporation Message Board

  • inlet_boater inlet_boater Apr 22, 2012 1:46 PM Flag

    Economic headwinds

    Some would have you believe that the economy is doing fine. At this point in a recovery to have 2-3% growth tells you a different story. Growth should be much higher by now (tons of stimulus and cheap money with 0% rates).

    You still have unemployment (U5) over 8% and un/underemployment (U6)around 16%. And if you calculated unemployment the way they did in the 80s it would be over 20%. Any way you look at it - this is worse than most recent recessions (still).

    And if you pay attention you may even see the next bubble getting ready to burst. Student debt now exceeds total Credit Card debt (that blows my mind) and is a bubble getting ready to pop. Headlines like this tells you why:

    Rude awakening Class of 2012

    Opportunities for new college grads very widely, with 1 of every 2 likely to be jobless or underemployed.

    I could go on, but you should get the idea. BBT is not immune to over all economic trends and problems.

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    • I agree. Student debt is due to colleges acting like the healthcare industry and over charging because the government is making money available. Except these kids who didn't know any better are holding the bag. Also, parents are poorer than ever and can't take on the expense of college. Don't kid yourself, Americans are poorer and getting poorer everyday. The next debt crisis of the world will be America!!! Good thing we all like Chineese food!

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