“The public is not happy” “The public knows there is something wrong in this country and there is You have a lot of kids graduating college can’t find jobs” That’s what happened in Cairo, Tha’s what happend in Madrid . You dont want those riots here. “New York City’s Mayor, Michael Bloomberg said on a radio show.
Critics have called him a tool of the President, others called his statement, a thinly veiled attempt to get Washington moving on a Jobs bill .
Is he on to something? The recent riots in England, suprised leaders. England like many countries has severely cut or eliminated many social programs, unemployment is high, especially amongst the young. As in the United States there are just a few fields where there is a demand for workers. As in the United States cost for education continues to skyrocket reducing the number of students who can afford higher education.
Last year, Cnn/Money said college graduates owed an average of $24,000 in student loan debt. Wanting independence from their parents , 85% of college grads return home.
The median starting salary for students graduating from four-year colleges in 2009 and 2010 was $27,000, down from $30,000 for those who entered the work force in 2006 to 2008, according to a study released by the John J. Heldrich Center for Workforce Development at Rutgers University. That is a decline of 10 percent, even before taking inflation into account.
Of course, these are the lucky ones — the graduates who found a job. Among the members of the class of 2010, just 56 percent had held at least one job by this spring, when the survey was conducted.
There is anger and frustration in America, the ecomony has touched everyone. In 2011 America, everyone knows someone who is unemployed, knows someone who as either lost his home or know someone near forclosure. Most Americans have dramaticlly changed their spending habits and nearly all Americans are frustrated by the grid lock in Washington.
Older Americans who rely on Social Security and Medicare are in a state of panic, as they hear lawmakers talk about cutting or eliminating benefits. Its the poor who are immediately effected by the cuts as medical, child care assistance , edcuation, assisted living programs , as well as the closure of community centers and libraries has hit low and middle income the hardest .
It seems the only people benifiting in this ecomony are he corporations and lawmakers.
Zbigniew Brzezinski, former National Security Advisor predicts riots to come to America if the gap between the rich and the poor continues to widen : “I don’t want to be a prophet of doom — and I don’t think we are approaching doom — but I think we’re going to slide into intensified social conflicts, social hostility, some forms of radicalism, there is just going to be a sense that this is not a just society,” Brzezinski said, adding that civil unrest would begin when the lower middle class becomes severely affected by the economic fallout and rising unemployment.”right now the problem is in the realm of social justice of what’s morally acceptable in a fair society but before too long if there is a slippage in the numbers downward of course it will become a social and political problem ” he explained , Income disparity in the US is the highest amongst all developed nation and it is even higher than Brazil and China ….
Warren Buffett compiled a data sheet of the men and women who work in his office. He had each of them make a fraction; the numerator was how much they paid in federal income tax and in payroll taxes for Social Security and Medicare, and the denominator was their taxable income. The people in his office were mostly secretaries and clerks, though not all.
It turned out that Mr. Buffett, with immense income from dividends and capital gains, paid far, far less as a fraction of his income than the secretaries or the clerks or anyone else in his office. Further, in conversation it came up that Mr. Buffett doesn’t use any tax planning at all. He just pays as the Internal Revenue Code requires. “How can this be fair?” he asked of how little he pays relative to his employees. “How can this be right?” There’s class warfare, all right,” Mr. Buffett said, “but it’s my class, the rich class, that’s making war, and we’re winning.”
Former,International Monetary Fund Managing Director Dominique Strauss-Kahn has warned that advanced nations could face civil unrest during distressful economic times
“[S]ocial unrest may happen in many countries – including advanced economies” if the economic crises are not properly dealt with, Strauss-Kahn said. He added that violent protests could break out in countries worldwide if the financial system was not restructured to benefit everyone rather than a small elite,” London’s Guardian reported.
In a recession where consumer spending is plummeting, foreclosures are rampant, workers are losing jobs, credit is tight and markets are strained, some are warning about a worst-case scenario.