8 Stark Realities of America's Dysfunctional New Economy

http://www.alternet.org/economy/8-stark-realities-americas-dysfunctional-new-economy



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1. It’s not my economic recovery.

News about the rising stock market, increase in home values or tech sector boom—all staples of mainsteam media content—does not describe their world. The women aged 30 and younger and Latino voters in the Orlando area, and working-class men and women of all ages near Columbus, Ohio, said in many different ways that their personal finances were rocky and frail.

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2. The mood is fear, not hope.

Many people are living on an economic “edge where fear, worry and caution are pervasive,” the researchers found. “I can’t afford to lose right now,” one person said. “I’m being conservative… It’s starting to balance out a bit, but we never know. It’s a rollercoaster,” another said. “It’s pretty scary,” one said. “Afraid,” said another. “Most of my family and friends are, they’re making ends meet but they’re struggling… They’ve got financial, you know, worry in the back of their minds. You know, if something happens, what am I going to do?”

3. Self-sacrifice is now routine.

The personal strategies for getting by include routinely cutting corners, pooling resources and not just having underemployed young people move in with their parents, but people taking in their parents after their jobs disappeared.


4. Lower and lower expectations.

Tellingly, when asked what a good economy would look like, the responses were a litany of humble aspirations. Paying bills on time, having “a few extra dollars after payday,” getting annual raises, having a full-time job, being able to see people and “go out and have fun,” and being “able to save more” were all cited by participants.