Senator Elizabeth Warren says the game is rigged, is she right, wrong or a bit of both?
She has argued that student loan rates should be the same as the rates banks borrowing from the Federal Reserve get, that those working 40 hours a week should not live in poverty and that financial institutions need to be regulated more closely. The Senator says that markets must be made to work for real people. Is she right, wrong or bit of both?
Equality will always be something like "world peace". It's something we all (say) we believe in or want to see but it will never happen. At best we can hope for some "improvements".
As my mother often reminded me in my childhood: "Life is not fair!"
It doesn't matter if you shoot a basketball 1000 times a day you're not going to be the next Michael Jordan! If you're accused of a crime and you're counting on a "public defender" you are not going to have the same trial results as a rich person with a team of lawyers.
If OJ Simpson had been OJ Washington high school janitor he would have gotten convicted. That also goes for Robert Blake.That's life!
However deep down I don't believe people (really) want equality. In fact when everyone is the same or has the same things we call it "average" or "mediocrity". It's human nature to want to compare, compete, and measure ourselves against others.
People would freak out if our school systems dropped letter grades and simply went with pass or fail. Who would be valedictorian?
In America it's all about being and having the BEST, traveling first class/business class, 5 Star hotels and restaurants. I can't imagine a world where everything was "equal" and everyone was treated to the same experience.
What people REALLY want is an equal chance at becoming Special!
The last line is certainly an interesting perspective. I can relate to that with how many times sharing this or that some people to most always have a better this or that. Seems usually that is shared before recognition occurs. I know I am guilty too
I think the Senator is right.
We should be investing in our future by cutting student loan rates, so graduates don't come out of school with a debt they can never possibly pay off. Very soon, only the wealthy will be able to afford a college education.
We should ensure that large corporations making millions or billions in profit are reinvesting some of that money in their employees, offering them better pay and benefits. Working 40 hours a week should provide the basics, no matter how menial the job might be.
We should regulate financial institutions to insure that our economy isn't destroyed just to line the pockets of people who already have more than they'll ever need.
What happens if we fail to do these things? The rich get richer, and the poor get poorer. I'm pretty sure that formula almost always leads to revolution.
Absolutely - the ever shrinking middle class will cease to exist on our current path.
I agree with you both. I have noticed in a few industries that part time and freelance work becomes common when employers do not want to provide decent pay or benefits, leaving a fair number of people to work multiple part time jobs in poverty.
She is right. The system sucks. Only the clever ones smart enough to work the system will benefit from it. The rich get richer and the poor get poorer. The middle man will pay the toll for all. Or at least that's what it appears to be.
One time an old man told me, "You got to know how the system is set up". Unfortunately, when you're young the options are not presented to you. For example, you hear public announcements about how you need to go to college. Well, maybe college isn't right for everyone. Maybe one could learn why taking a large sum of money to attempt something that has no clear end purpose can destroy your financial future.
An added note: If Elizabeth Warren is saying we must reduce the interest rate on student loans maybe we should have a system that doesn't require you to borrow ten years of your life away.
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