2 notarized letters for unemployment

While this thread is a bit off topic, the discussion is interesting....

I agree with what you say. However, I boldfaced your statement regarding folks not being victims of crookster banks. I'd beg to differ on that point.

The banking industry nearly forced the world into another depression that would have put the Great Depression to shame, but for extreme intervention by governments around the world. The reason for this is because of institutional fraud on a scale never before seen in recent history.

Mortgage brokers, banks, and lending institutions altered up to 30-35% of loan applications in order to "qualify" applicants that wouldn't otherwise qualify. Why did they do this? Because they didn't care whether the loan would be repaid. They received their commissions, packaged the loans, got rating agencies like Moody's to sign off on the loan packages as AAA rated investment grade when they should have been rated as junk, and then turned around and bought insurance AGAINST those same loan packages, knowing that a high percentage of mortgages would go into default.

For more information about this I would recommend downloading and watching this award winning documentary:

The Inside Job

It's an eye opener.

Well noted. Part of the problem today is that we have three entire generations that were raised with the adage that, "You need to study hard, so you can go to college, and get a good job". Everything we've been taught is that in order to get ahead in life a college education is required. Now we have an entire workforce of "overqualified" folks with high expectations and no concept of how to downsize and live within smaller means. The idea of living within your means is tantamount to "giving up" on the "American Dream".

That dream was packaged and marketed by companies that make HUGE profits by getting people to want to buy "stuff", loaning money to folks to buy, then getting our "public servants" to modify the law to make bankruptcy a much more onerous and punishing experience for regular folks. You can't get out of paying off your student loans. After the law changed in 2005 bankruptcy doesn't really allow you to wash out your debts as easily as before, now you are roped into seven years of servitude to repay banks that suckered you in with too much credit in the first place.

While personal responsibility should be considered when taking out a loan, how many folks are getting the message of really knowing how to manage their money and their credit? Compare that nearly silent message against the blaring sirens of advertising and marketing folks are subjected to today, in the name of "free speech".

 

What you say is all true. But what it all comes down to is banks giving credit (loans) to people who were not prepared to pay it back. Then those people complain when they loose their job and soon their house. I get pre approved credit card invites all the time. With all may cards I could spend nearly $80,000 without even opening a new card. I have self control not to open cards i don't need. I also don't spend money I don't have just because I can. Yes the banks changed peoples applications to get them approved, but since when is it their job to ensure you know your personal finances. There has got to be personal responsibility. You can blame the banks, the economy, the immigrants taking jobs, over population, scabs, Jobs going over seas, etc etc etc. OR you can deal with what your given and make the most of it. If a bank offers you a loan you cant repay, dont take it. If you loose your job, find another. Even if its not what you want, some employment is better then leaching off the government. Sometimes in life you have to take a step back before you take a step forward.

It not giving up on the American dream to take one step back every once in a while. Our economy, culture, and job market all is changing. If you dont adapt you will be left behind. I hate change, but its something we all need to deal with. In our current times, its probably not the best idea to buy the house you can barly afford. Save up some money for the rainy day and then the step back wont be as big if you have career ishues.

EDIt:

When I say "you" mean people in general....not specifically the poster I quoted

 

Richter,

You're annoying and your opinions are not in touch with reality. Go away.

 

Are you the one with the PHD you were talking about 2 pages ago? Anyone could easily become as financially successful as I have. There's no big secret and no reason the person with the PHD couldn't. Being overqulified means you need to take a job bellow your experience, not that there are no jobs for you.

 

There is no shame in taking unemployment checks. Afterall the worker and the employer paid into the Unemployment Insurance fund to cover it. Typically you get 6 months worth of benefits. Oftentimes that can be extended 6 more months or even a year or more. After so long, yes the Taxpayer is then covering it for the UI taker.

Would you rather return to the 1930's where there were blocks long soup lines and mass migration around the country of poor people looking for work?

Without unemployment insurance tiding us over from the Great Recession we'd all be learning to speak Chinese right now due to the trillions we owe them.

 

There is shame for not having enough personal responsibility to save up for a rainy day. And people who take unemployment should feel shame about it. People like me pay into the system and never get benefits. When an employee collects unemployment....on average they collect 10 times what they put into it. The other 9/10ths come from hard workers like me that just keep feeding into a system we will never use. Unemployent is nothing more then government mandated insurance. If I don't crash my truck for a few years, my rates go down. unfortunately, if I keep my job for a few years, I still need to pay the full amount into unemployment.

How would you like it if you truck insurance rates stayed the same weather you crashed your truck or not. Worse....others crash their truck all the time and thier rates dont go up. Thats what unemployment pay is. This system sucks for those of us that manage to keep our jobs. The 1930's was a totally different economy and comparing it to today's is not a fair comparison. Im not saying we should get rid of unemployment pay. Not everyone manages their finances correctly and may not be prepared for the rainy day. That being said, more money should be spent on finding the unemployed jobs and extensions should be much harder to get. I knew a guy who went to collage for architecture. He some how managed to get this super sweet job paying 6 figgures. He worked their for 6 months before they fired him because he was not worth 6 figgures. The money he collected on unemplyment was way more then any other job he could get with his skill set. He wasn't over qualified, the jobs he would normally get with his degree just didnt pay more then the unemployment from his old job. He managed to get extensions and stayed on unemployment making over 50K a year for 2 years. The unemployment tax he paid into the system based on his sallary was around 5000 in those 6 months. He then took 100K out of the system. Out tax dollars paid him 95K in unemployment over 2 years. This happens all the time with the unemployment system. If you ever go on unemployment, look at your past w2's and check how much you paid in unemployment. Ask your employer what % they pay. If you take more then that number out.....you should feel shame by taking unemployment. You may say the government pays it...no big deal...Where does the government get its money? My taxes!!! Im the one you took extra money from, not the government. The architect I knew stole 95K from tax payers like me legally do to the corrupt unemployment system we have.

 

Please be so kind as to point out which state your friend was able to pull over $961 a week from.

 

I remember watching/listening to some program where they interviewed on of the economists that was involved in the White House discussion about what to do.

He explained that if we did nothing it would be worse than the Great Depression. Someone asked, "what would be worse?" ... His reply, "the Dark Ages!"

 

He lived in NJ...I met when he finally took a job at the company i worked for after 2 years located in PA....according to your link 600 is the max for NJ, but this doesn't include other government pay benefits. I also dont trust about.com. Something with a .gov would be more reliable.

 

I thought so ... you're full of crap, in addition to having a reading comprehension problem ... click the link, PA is $573 a week.