Thursday, May 10, 2012
The Santelli Exchange: The Burden on the Young
I came out of college in the midst of what I'd call the most trying economic times since the great depression, in 1981. Paul Volker was busy breaking the back of inflation. Interest rates were in the teens. Unemployment rates were much like they are today. But I was lucky enough to find a job because I majored in a field that was in demand in the marketplace. I found it to be an optimistic time, in spite of the near-time challenges. I don't feel so optimistic today for the futures of my own children who are just graduating college. I wish I did, but I don't. Our problems are so much bigger today than back then, and keep getting bigger.