wsj art 7-17 - Do these people not understand that millions...

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Do these people not understand that millions and millions of people saw the value of their greatest asset investments decline while the attached debt (which was too large to begin with due to speculative bubbles) remained the same? Do they not understand that 8 million have lost jobs, and that unemployment is almost 10%? 1) housing prices crashed. millions of people were already barely able to make their mortgage payments, and some straight up never could. throw in a job loss or any added expense and that person is pushed into default. or, they may just straight up walk away because that’s the rational thing to do. 2) educational investments have depreciated. millions of people invested in expensive college and graduate education. as it was, people took on too much debt to pay for this. education was and still is in a speculative bubble. now recent grads aren’t getting jobs and the ones who had jobs are getting laid off. not only are they making less, they can’t service the attached debt anymore. 3) the stock market crashed. in a matter of months many saw their 401ks cut in half when the market hit bottom. some gains have been made since but there’s a long way to go to get to 14,000. that’s much less
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wsj art 7-17 - Do these people not understand that millions...

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