J. Stiglitz: The American Dream has become a myth

[August]

Originally Posted by soopaman2

But what chance does Tyrone from some craphole project has? A loan he can never pay back (if he even gets it), just feeding the banking beast.

He has the same chance for advancement that Americans have always had. The problem nowadays is that we set unrealistic expectations for ourselves. If we can't go from a craphole to a mansion by the time we turn 30 then many of us don't even try.

The folks who manage it, via sports or acting or just plain good luck, they are the ones we see on TV that everyone looks to and says "that's what i'm gonna do", well you can't. The truth is that very few people can go from the bottom of the barrel to the top in one lifetime. Maybe one in a million.

Instead of taking loans to get some useless degree that he can't capitalize upon, Tyrone would be better off getting training in something he can, like a trade. If, in the course of his life he can get his family out of the craphole and into a modest home then he has realized the American dream. His kids will be able to take it to the next level and their kids yet another.

You build upon what you start with and your sons and daughters build upon that and so on and so on. That's why a functioning and cohesive family environment is so important and it's something I see immigrant families do well and many of us natives do not.