FAIRFIELD, Conn.—When Maurice Johnson was laid off a year ago from his six-figure salary as a managing director at GE Capital, it wasn't his future he was worried about.
It was his children's.
The family income of the Johnsons is a fifth of what it used to be. And the children are about to feel the pain. Mr. Johnson's two oldest are attending his alma mater, Johns Hopkins University, at an annual cost of $50,000 apiece. And his youngest daughter, 15 years old, recently began her own college search. Mr. Johnson isn't sure whether he'll be able to help her to go to college, or even to get the older kids to graduation.
Cutting Off the Kids
![[SB10001424052702303382504575163981904515008]](http://s.wsj.net/public/resources/images/OB-IA610_0404do_D_20100404130906.jpg)
After Maurice Johnson (left), with daughter Elsa (center) and wife Linda, was laid off from his job as a managing director at GE Capital, he worried about how he would provide for his children's future.
Mr. Johnson, who watched his own father struggle as an engineer without a college degree, was determined to do better for his own children.
"We saved like crazy from the minute they were born," he says. "Then, it all fell to pieces."
Many families such as the Johnsons—upper-middle-class professionals—are suddenly downwardly mobile. For years, they used rising family wealth to help foot the bill for college, down payments for houses and start-up cash for children's careers. But pay cuts, layoffs and the decadelong flatlining of the stock market mean many families can no longer help their children.
This comes as young adults could use a financial helping hand more than ever. The unemployment rate for workers ages 16 to 29 was 15.2% in March, the highest rate since 1948, according to the Bureau of Labor Statistics.
More Here..
From the period 2010 through 2020 will be one of the most devastating period for more than 90% of the American population. A college education in the wrong field will find you a job at No Where To Work USA. I see Health Care, Agriculture, engineering and farming as the most promising. Choose very carefully. I would love feedback. After 2020 we will never be the same prior to 2007. Most of us will look back and say "What an opportunity we wasted"
ReplyDelete10:30 Health Care/Agriculture ANNNNNDDD Security Field.
ReplyDeletePoverty breeds crime...Crime breeds need for cops/security for the rich...Think South Africa/Brazil/Mexico/Argentina.
Sad but true...Best to roll with it and be on top rather than wait for it to roll over me.
10:30,
ReplyDeleteAgriculture has nothing despite what the green-lies would have people think. With the Obama-Care medical jobs are gone, once doctors start falling away nurses will. Engineering is not promising, it hasn't been, those jobs go overseas to foreigners. And farming??? If you want to start farming then smart, a degree in farming?
There's nothing man. Don't waste anytime or energy in college, not to mention the debt. A degree in any field will get one a job no where very soon.
There are needs and there are wants.
ReplyDeleteWe need these three, subtract anyone and you'll die:
- Clean air to breath
- Clean water to drink
- Healthy food to eat
The next level of need is:
- Clothing, unless you are a full time nudist.
- Shelter
- Health care
Pretty much, everything else is a "want". So it looks like the only jobs out there that might stay safe are related to farming, water management and health care. No need to be constantly buying clothing. A well built pair of shoes could last years. Shelter can be anything from a house to a cave. Most of us can't afford to even die these days when a burial can cost $5-10K. A cremation is a few hundred bucks.
I'm unemployed and job prospects for me are not good, even though I have plenty of skills, just not the right ones for today. I visit my doctor only when necessary. I have been going to a teaching hospital for the last 5 years. I almost never see the same doctor twice, after all, they rotate in and out constantly. My office visit is 40 bucks and all but one of my meds are $4.00 per month. Thanks for taking all this away from me Barry!
I can't see at all what the current crop of young adults have to look forward to.
Oh, three more recession proof industries:
- Recreational drugs
- Alcohol
- Porn / Prostitution
Trust Barry, he'll take good care of us.
I trusted bush, we took good care of us, I especially liked how he bankrupted the country before handing it off to obama, and those two wars he started are great, they are making trillions for the military industrial complex, while you are starving, remember how w gave it all away!
ReplyDeleteI trusted W too & he gave me prosperity like never before !
ReplyDeleteI just wish we could get him and Cheney back in there now - they'd fix this damn mess that Obama
has gotten us into.
The key is to choose a vocation that's in demand that cannot be outsourced overseas.
ReplyDeleteThe middle class will be much smaller. That means the cost of home ownership (possession; you can't actually own in the real sense) will go down substantially for the poor majority. (You can't support ridiculous prices when most of the market is earning minimum wage or worse.
w gave the military industrial complex and bankers prosperity that they had never known before, before bush handed off a depression to obama, things were tanking when bush left, he left the stockmarket, auto markets, homemarkets in the trash and wanted obama to clean up his mess. w and cheney would really fix this, they would start two more wars that could not be won and make sure this country would stay in the depression they caused FOREVER!
ReplyDeleteREPUGS AND bush had everything for 8 years and on healthcare, education, economy, DID NOTHING AT ALL. But they gave all their Military buddies and Bankers the keys to the usa which they promptly destroyed, Thanks aholes bush and war criminal murderer cheney
ReplyDelete10:30 - Due to the demographics pretty much guaranteeing bad economic times besides all the debt saturation we are going to be in very bad times from 2010 until 2023 with things being much worse 5 years from now. College education for people in school now will just prove to be a noose around their neck for the most part due to all the debt most are accumulating which you cant get rid of with bankruptcy. Student Loan Defaults are now beginning to skyrocket already. Health Care will be the only field with significant growth. Engineers are not nearly in demand as they were but will probably fair better overall than most which is not that good.
ReplyDelete2:23 Drugs and alcohol arent totally recession proof.
ReplyDeleteDrug Dealers arent making nearly as much as they did before the crash since construction is way down because much of their revenue can be traced to construction worker dollars.
Alcohol sales are steady but there has been a clear trend from drinking at bars and pubs to drinking at home instead because its cheaper. Also many people are drinking cheaper brands of alcoholic drinks now.
w bush the disaster that keeps on giving, 27 miners feared dead in west virginia, due to the deregulations w bush did when he was presidunce.
ReplyDeleteObama' socialist takeover is upon us.... crash the economy to make people more dependant on socialism.
ReplyDeletew bush deregulation on banking puts the crash on obama and then bush takes off laughing as he leaves the usa in ashes
ReplyDeleteThe History books will show G.W. as one of the greatest presidents of all time; presiding over one of the greatest economic expansions of all time while giving us security.
ReplyDeleteEnter the barrymonger - he gives us shit like Acorn; Jeremy Wright and Van Jones
Wow! There's a trio !
historians all agree already, w bush is the worst president of all time giving us 911, katrina and abramoff, libby, cheney, perle wow there is a gay foresome
ReplyDeleteThis comment has been removed by a blog administrator.
ReplyDeleteThis comment has been removed by a blog administrator.
ReplyDeleteI would too
ReplyDeleteIf you had any
HU YAH
They are killing the middle class! They are destroying working families left and right:
ReplyDeletehttp://americaspeaksink.com/2010/04/truck-drivers-are-being-wiped-out/comment-page-1/#comment-4985
Been a machinist nearly all my life. Anyone want to go into the manufacture of firearms? Shit, my gun shop can't sell the stuff fast enough.
ReplyDeleteyou are right 1030 iam paying my daughter 5 dollars to read a book on gardening and 5 to give a written report on it and i have about ten other books i will do the same , i paid for her to go to college for 1 semester and she didnt like it so this time alternative i feel will really pay off in the long run we have chickens and land and neighbors with cows i spent 20,000 in farm and green house stuff hoping she will be interested,but if not we will survive , wood stove with it heating our hot water which is the highest cost of electricity , solar panels to keep the freezer (which i keep a lot of gardening and sprouting seeds in)and refrig going along with lights computer and radio and charging batteries for head lamps and such i bought some compost tumblers and 30 of these shelves ( http://www.growerssupply.com/farm/supplies/prod1;gs1_greenhouse_display_racks;pg102444.html)next i need to do something with the chicken problem of coyotes coming for them i have 2 bicycles (that have electric assist http://www.curriestore.com/32-ezip-electric-bikes,, and a wood and or charcoal outside rocket stove for when its to hot to cook inside and no power(http://www.stovetec.net/us/index.php we have 2 geo metros that get 50 mpg ,a van and a luxury car,a 4 wheeled drive mitsubishi tractor with plow plus attacments an underground dairy to keep food at 45 and below,2 dogs that bark and a goose that makes lots of noise if you get close ,firearms and ammo i wont gointo there, except to say the crossbow will get a deer anytime,,cool spring water will take over to refrig if elect and solar and generator goes out ,plus 30 to 40 ft valley ravine to keep sun out and small meteorites, 2 doultan water gravity feed filters and two berky filters and an assortment of backpack waterfilters ,2 laptops and 3 desktops with extra partsand racks of bolts screws washers ,plumbing and electrical ,and video camera and pen cameras from atop old elect poles to track and watch unsuspecting intruders,double fencing around gardens i have more than one garden , to keep deer out ,,i think i better stop i am getting tired lol what ever happens remember all those tech advances can be used by you against them whoever them is and watch the clip online (the secret of water) , oh my website is (theworldsbestwater.com) remember thoughts have wings or is that thoughts make things, oh and another movie to watch is (the secret)ps iam still trying to figure out what that crop circle of a triangle means -----ribin21@yahoo.com
ReplyDeleteIt's finally here.. On Monday 29 March 2010, all 50 Govenors will be served papers.. and have a choice.. re-affirm their Oath to their States Constitution, or be removed from Office...
ReplyDeleteIf they Re-Affirm their Oath and do not follow thru, they will be arrested for TREASON...
Joint Chiefs are behind the plan, as is the US Supream Court..
IRS gone by 2-2011, All Mortgages, Credit Cards, eliminated due to fraud... All prisioners held for "harm against the state" released..
6,000 patents... Released for use...
The day has finally arrived... Tell Joe, it's ok to give out the information, on the "Suzuki"...
More good reading here...
The N.W.O. Cabal is collapsing; the signs are everywhere The following group contacted the Black Dragon Society promising the Federal Reserve Board and the Washington D.C. crime syndicates will soon lose power.
They sent me an audio file but I got the message "this file cannot be opened at
this domain." However, I found the audio here:
[THIS IS WHERE MY YOUTUBE IS PLUGGED]
http://www.rumormil lnews.com/ cgi-bin/forum. cgi?read= 169644
Several people, including a direct envoy from the Chinese Politburo and a member of the British Royal family have told me a similar tale of imminent change. The gist of all their stories is that soon vast amounts of
new government-controll ed funding will become available and that the Federal
Reserve Board and the Internal Revenue Service will be dismantled. We have been disappointed before but there
is enough information now available, even on the corporate propaganda media
outlets, to make it clear we are reaching the end game. Among the bits of
evidence we find Japan, China and Russia not only not buying new Treasury bills
but actively reducing their holdings. We also find the world's central banks
are no longer buying T-bills either. Then we have China announcing they will
have a trade deficit in March. That sounds like bad news for China but in fact
is due to their increasing their imports of commodities from around the world
by 80% year on year. This is part of their strategy to take down fiat dollars
by refusing to buy anything but real stuff with their own hard-earned dollars.
Anybody with basic math skills can figure out, after looking at this chart from
the St. Louis Federal Reserve Board:
http://research. stlouisfed. org/fred2/ graph/?s[1][id]=AMBNS
that the only reason the US has not experienced hyper-inflation is because all those trillions of dollars the Feds have created since September 2008 are not being honored as valid currency by the rest of the
world and even most of the US banking system. On top of this you have over a
dozen US states (and soon a lot more) suing the Federal Government claiming the
Obama health-care law is un-constitutional. Most states have also now passed
laws denouncing many D.C. power grabs as un-constitutional. The British have
also thrown down the gauntlet at D.C. by demanding that Bush era Vice-President
Cheney, Secretary of State Rice and "Defense" Minister Rumsfeld all testify in
front of a Parliamentary enquiry into the legality of the Iraq war. Even the
most brainwashed people out there will also notice the Euro and the European
Union are falling apart. Basically, the hard working and frugal Germans and
Nordic peoples are refusing to subsidize the Mediterranean countries. The
"Greek" crisis is really the death knell for the Soviet style EU because the
Mediterranean countries have no viable alternative to issuing their own
currency. The Euro is going to end up as a German/Nordic successor to the
Deutschemark. Of course, it is not over until the fat lady sings and until we
see the propaganda media organs shut down and the Washington D.C. criminals put
in their place, we need to keep our powder dry and stay fully alert for any
tricks or terror they may try to pull off.
I am a foreigner so I need to ask about American patriotism. I am confused.
ReplyDeleteDo not American government Presidents and the military and public servants(?) swear to uphold the constitution against all enemies foreign and DOMESTIC ? Why does the oath say that?
It seems to me that the American Military /the CIA Governors Etc may need to start thinking about the terms of their oath. ?
Does Domestic enemies and treason include making illegal imperialist class war conspiracies (remember General Powel at the U.N.? ) causing not only a million foreign deaths in Iraq over WMD lies .But the thousands of deaths for Americas own military ?
Foreign enemies are easily invented as with the lies about weapons of mass destruction and Obamas recent claim on possible WMD in Iran in treasonous support of another countries propaganda , that even though he admits that the facts show that Iran may not have an actual nuclear bomb programme , they might be getting the ability or know-how to THINK of making a bomb and that would require an all option s on the table pre-emptive war from America.
Next the U.S. POTUS will be declaring that higher mathematics should be banned in Iran because it might give them the ability to think about the possibility of making a guided missile and a pre-emptive strike against teaching mathematics in Iran is required as it clearly would pose a clear and present anger to America or Israel..!
Thousands of lives of Americas own military are put at risk by all this treason war-mongering
nonsense .
Does domestic enemies include Presidents of both the major parties allowing the American peoples
Treasury revenues to be looted for handout benefits to the financial elite few ,thereby allowing America to be bankrupted. And its dollar value put on the road to certain destruction .
Domestic enemies ? Try thousands of American deaths on 9/11 , while Americas air defence was immobilised, anthrax scams ,fake “investigations” ,Iraq WMD ,TARP , And nothing held against the banksters crimes and Ponzi schemes, more threats of war to Iran, the list of lies grows as the economy goes down the drain after a rain of printed counterfeit no value paper . Or is all that all legal and all covered by Patriot acts?
Some of what 7:45pm says doesn't make sense.
ReplyDeleteThe Royal Family of england is behind this expungement of wealth from America.
They own the Federal Reserve in some part, as do many other rich and powerful families of Europe starting with the Rothchild's, whom, btw, I just read another article plainly stating that the small private Rothchild bank played a key advisory role to the Obama administration of how to take over the automotive industry in America.
To state that Joint Cheif's are behind 'this' doesn't sound right. That makes it sound like some element of the American military will go against the administration. That's not going to happen, and there is no other police force of Government in America but the people themselves, and good luck with that.
Sounds to me like 7:45 is misunderstanding the situation as somehow having a ray of hope when it doesn't.
Btw, that page on the trucking issue was a great read and the comments very informative.
801 WHY
ReplyDelete$50,000 for two spoiled brats to go to college. Insane. The only way this doofus should have been paying the outrageous tuition is if he was already financially secure, without having to continue working. And THAT is the reality he is now realizing.
ReplyDeleteWhat 7:45 states is at odds with reality.
ReplyDeleteThe Federal Reserve is controlled from London, England. The Queen does what the City of London (financial district) tells her, not the other way around.
That some military people might be rallying behind a group of state governors is possible. However, the elite certainly have a stranglehold on a significant portion of the U.S. Armed Forces.
The best case scenario here is civil war by these two factions sometime in the future. That war will go nuclear, and you will see tens of millions of Americans die as a result. Of course, many significant cities will cease to exist altogether.
Rich, powerful people don't give up that easily.
@April 5, 2010 4:17 PM
ReplyDeleteYou should stop smoking the weed, dork. The key to your banking system was given by Woodrow Wilson. Then a democrat by the name FDR stole all the gold from American people. Then another democrat by the name Nixon ended the Bretton-Woods system and rendered havoc to the entire World economy by removing a gold standard. Then a man, who did not have sex with Monica Lewinsky, repealed on November 12, 1999 Glass–Steagall Act. Then a Nobel Peace prize laureate Obama brought more troops to Afghanistan. What I am trying to tell to a dork like you, is that your democrats are just as much in this shit as the republicans. If if just stop smoking dope for a couple of day it will become clear that your elite is robbing your country at broad daylight and trying to start a WW3. Maybe even you will go to a local library and get some history books, so that next time you post something on a blog, you would not look like a complete fool.
10.52 Nixon was a republican but you are right as there is no real Differences
ReplyDeleteThe big corporations and their lackey congress have allowed the white collar jobs to be given to india and the blue collar jobs to be given to china. That pretty much sums it all up, game over.
ReplyDeleteuntil the last 3 presidents and
ReplyDeletehalf of congress have benn arrested for treason
borders open nafta free trade +slave trade
bankers arrested for fraud greenspan benyanke
prison for 20 years
america wil fail because evil and breaking the law by changeing it
hitler killed the jews by law
corruption is so great they fail to see the american people willl lose it
and we will have to pull back our military from overseas
second reason for treason bankrupting america
over foregin wars that we are blamed for
and no one joined us except with a thousand men
nobody cares is the said part
and is only considerd a job
becuase we export war and import goods
im sorry but america has reached her pinnacle and unless these people are held for treason we are doomed
the depression will deepen
democrate republican are guilty of treason
the new benedict arnolds
Follow the money and you will allways find the culprit. I wonder if the illegals will be marching in Los Angeles in 2011? We tried to tell them to leave, but they have been brainwashed into thinking 1848 never happened. I guess creamation companies will be popping up all over!
ReplyDelete