I don’t know about you but in recent months and even this week I continue to be astonished by the amount of lies being told in the media about the state of the American- ahem- US economy. There is growth- even with Texas unemployment rates at over 8%- and that’s just one state! Yet still the ads on TV say things like- “Its a perfect time to buy a home- Talk to a Realtor near you!”
Hello!! The only people in a great position to buy or invest in anything right now are the people who are either- A: already wealthy or B: have been saving and just now decide to buy during the new Depression.
Its not a recession people- just stop trying to soothe yourselves into the idea its not a Depression.
Sorry to be the reality check- Yes kids.. its a >gasp< Depression. But back to the reality on the ground: In my university economic classes- the professor drilled it into our heads that unemployment at a rate higher than 5% was undesirable. Why? You might ask.. well basically it boils down to a need to maintain a competitive job market – enough supply to keep the consumer’s consuming.. and enough demand to make sure that people worked hard to keep their jobs- and made it highly undesirable to be unemployed.
This also ensures that government isn’t over burdened by mass amounts of people seeking public assistance. – No EBT aka Food Stamps for YOU! The economy is so bad here that stores in an effort to get people to spend money they don’t have for the holidays have brought back- something I remember from the 1980- 90’s… Lay Away.
Now lay away is great because it allows the individual shopper to purchase what they want- pay over time and then pick up the item or items once they are paid for. But does Lay Away have interest–well some may or may not depending on the store’s individual policies. The big shocker is that if you don’t finish paying for what you purchased.. you lose all your money- what ever money you put down and the money you paid toward the total purchase.
Its just another way to suck people in to debt – pure and simple.
The reality is that America is in a depression and while we may not have a dust bowl to go with it.. The effects can be seen everywhere from the rural areas to the city centers- empty and abandoned businesses, homes and other buildings. The amount of people on government support has increased to the point where money is being shifted from other services just to make sure unemployment checks can be paid like domestic violence programs and shelters.
Recent and new university graduates can’t get jobs- so they are flooding national service programs like Ameri Corps and VISTA. They are looking for ways to pay off or freeze the colossal amounts of debts they owe- until they can get a job and pay it off- other programs like Peace Corps have seen a more than 200% increase in applicants.
The amount of stress has led to an increase in violence across the nation and the nightly news is a steady stream of stories that feed on peoples fears and paranoia. Indeed we are living in desperate times- May we have enough hope and faith to survive – Ameen.