[Marxism] Comments on NY Times blog article about General Growth bankruptcy

Louis Proyect lnp3 at panix.com
Thu Apr 16 13:08:29 MDT 2009


They should fire the assholes that write for the NY Times and hire the 
commenters. I should mention that they did not print my observation that 
it is poetic justice that this happening to Thomas Friedman, the prophet 
of globalization.

Posted by Todd:

If you think…”the other shoe” is commercial real-estate wait for 
SallieMae and SallieMac (NOT - freddie and fannie).

I graduated law school (tier 2- Seton Hall Law) in 2004, with 120,000k 
of STUDENT LOAN DEBT (all Salliemae consolidation) and after a brief 
period of employment from 2005 to 2006 (the firm dissolved) I collected 
unemployment during 2007.

My benefits expired and I have been unable to find ANY work since then 
in ANY capacity. I applied to be a security guard at Target, a waiter at 
Applebees, sweep the parking lot at Shea Stadium (Citi Field) (et al) - 
NO DICE.

For ME the recession began in late 2007 (when the benefits ran out); 
It’s like “grapes of wrath” over here, so with the DEFERMENTS and 
FOREBARENCES expiring…for me and millions of other students who can’t 
find WORK in this country (and thus can’t buy or shop for anything in a 
MALL); things are going to get a lot worse before the get better.

In fact, they may NEVER get better.

Mind you…It’s not that I don’t want to pay my 120,000k of student loans, 
heck I graduated law school and have a masters degree but with NO JOB 
and NO PROSPECTS, homeless (well at 35 I’m living in a room above my 
parents garage), I have NO MEANS to make those payment now or possibly EVER.

Moreover, I am not alone.

This country may be on the verge of total collapse.

I think the mall is the least of our problems. If people are working, 
they shop; cash pay-checks; the banks lend and the big companies get to 
re-finance debt.

Mr. Obama may not get it. With out a JOB nothing matters, not a tax cut, 
not borrowing, not credit, NOTHING. If people go back to work, 
everything sorts itself out.






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