recovery for the 1%, recession for the rest
http://www.nationofchange.org/recovery-1-recession-rest-1331826118Recovery [ri-kuhv-uh-ree] noun: term used by the 1% to characterize the 99%s enduring recession.
Sometime last November I listened to a lecture given by economist Richard Wolff. During the Q&A portion of his presentation Dr. Wolff responded to a question posed by a crestfallen college student concerning the duration of the great recession. Dr. Wolff graciously acknowledged the students unease and then responded by reframing her original inquiry. He gently offered the following provocation: We must not ask whether we will surface from this crisis, for we surely will, but rather on whose terms will we emerge?
The most recent Employment Situation Summary issued by the Bureau of Labor Statistics (BLS) last week underscores the worries expressed presciently by Dr. Wolff more than six months ago. The BLS noted that although the United States added 227,000 jobs last month, the average weekly wage only increased by 0.1%. How could this be? Well, nearly 160,000 of the newly created jobs were categorized by the BLS as "low-wage," paying no more than 200% of the poverty income rate for an individual (up to $21,000 annually). Further, part-time work (without medical insurance or a pension) increased to a record 28 million jobs during February and now accounts for roughly 20% of total employment.
IADEMO2004
(5,557 posts)Old Jerry Reed song comes to mind.
jschurchin
(1,456 posts)That thing's are not just peachy keen wonderful?
Be careful brother, the "You are a Faux news, repub, asshole" police will be here soon telling you how horrible you are for pointing out the truth.
Thanks for the OP. Peace.
Newest Reality
(12,712 posts)want to know about the truth of this?
If a person is still in some financial comfort zone and enjoying some stability and a sense of security, (no matter how false that is) then any insight into the decay and instability around them could pop their bubble. Why be uncomfortable at all, even when their are large cracks forming in one's peripheral vision?
If you are already living in the results of this trend, well, you can resort to false hope, but the reality of it is visceral. You are falling down and there is little, if anything, there to soften the blow, let alone assist you in getting back on your feet. Of course, if you did manage to right yourself, your stability is dependent on the conditions and opportunities in your environment.
There is a vast and life-shaking transition going on for increasing numbers of us. While some feel safe in a sequestered reality and pay no mind to interdependence and how interconnected we are all are. Hence, it is easy to indulge in a form of ignorance where one can feel immune to any current or impending results until a critical threshold is reached and the negative impact is unavoidable.
The mass media is well invested in creating fabrications that support and maintain an illusion that the Status Quo is not only viable, but on its way to full recovery. In their best interests, they proffer an inducement for those who are not, and will not, benefit from their idea of recovery, to identify with it and align themselves with its continuity.
Meanwhile, there is a major economic catastrophe in progress for growing numbers of us that, if it were not managed so well, would be glaring in our eyes and at the forefront of our priorities simply because we are all involved and affected by it in some way, be it in the present or the short-term future.
BobbyBoring
(1,965 posts)Great post! It really sucks to see everything you held true for all your life erode to nothingness. I know how the Indians {Native Americans} felt now when we came along.
winton37
(7 posts)The only ingredient we've been missing for a full-blown depression in America is a tumbling stock market. This will happen--soon. It has to. America is 25% of the world market and probably 75% of us are spent out. Why? Because of the five-dollar price tag on a shrunken, plastic jar of mayonaisse, four on a gallon of gas, astronomical insurance costs (with bigger and bigger deductibles)--it goes on and on. The average American making $35,000 a year cannot afford it anymore. Don't listen to the Associated Press, McClatchey News, the La Times and all the rest, the "D word" will soon become a reality. Corporations can't keep stuffing twenty, thirty percent and higher profits in the pockets of their shareholders much longer. In one way or another, we're paying for every dime they get. And we no longer have it. Much of this is in my new Amazon bestselling novel, The Last American Martyr.