"Young people today can’t repay their college loans; they can’t afford apartment rents, let alone mortgages; their Social Security is being sucked up by their elders; and H.I.V. left them out of the sexual revolution: what was once free love is now a viral minefield. It’s a plight lamented in books like “Generation Debt” and even in ads for Freecreditreport.com that showcase debt-crippled lads gamely doing menial work as they warn others about the dangers of letting bills pile up. (“They monitor your credit and send you e-mail alerts/So you don’t end up selling fish to tourists in T-shirts.”)
“Heroes” gives its fans cathartic validation: You inherited a screwed-up world, and it’s not your fault."
I don't think I've ever written about being upset that we missed the sexual revolution, but that's cool.
"Besides the existing regulations, look for a slew of new rules to hit the Street, starting with more transparent accounting.
The regulators will want to see how much leverage these firms employ and their sources of funding, to name two items at the top of their list. Off-balance-sheet activities will come under the regulators' magnifying glasses as well."
2 comments:
You left out the best part of Stanley's article:
"They are the most coddled, indulged and overprotected generation ever. Swaddled in safety and self-esteem, they have all been assured that they are special."
"Disasters in the United States, some European countries or Asian countries create investment opportunities in the real-estate sector, the financial industry or other sectors," he told Al Arabiya station in a rare television interview.
"We are not responsible for saving foreign banks ... This is the duty of the central banks in these countries. We have social and economic responsibilities towards our own country."
Anyone remember the first gulf war? Who were we helping then? To hell with the middle east. These were the words of the Kuwait Investment Authority.
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