Depression By The Numbers – A Poverty Bulletin

It’s not getting better.  Don’t believe either party really has a plan to restore jobs and reflate our economy.  What we are living through is the result of globalization and now the end of cheap energy.  Exactly how could we get 14 million people back to work at wages that will re-install them, or move them up, into the middle class?  This reality is hitting us upside the head, yet we ignore it.  The “American Dream” of ever expanding upward mobility for all  is dead and has been for a long time.  These days all we are arguing about is how best to protect the incomes and accumulations of a dwindling number of people.

The ONLY way I see us getting back on track is by doing two things:  completely reorienting our economy toward addressing the energy crisis (renewables and efficiency) and by leading – demanding – a global price on carbon.  Between the two we would have an advantage like no other nation’s. Unfortunately, we are will be prevented in this by those who deny reality, and who are only motivated by today’s greed.


Zero Hedge

As was already discussed last week, the number of Americans living in poverty is now at an all time high, even as the real income of the average American male worker adjusted for inflation is back to 1968 levels. But that is only the beginning. ProPublica has compiled an exhaustive bulletin summarizing the sad state of America’s depressionary reality in “Our Sputtering Economy by the Numbers: Poverty Edition.” For anyone wondering how we are doing now compared to “before”, this is the only list needed. The results are not pretty and confirm that Bernanke is now trapped in a corner, where every incremental attempt to reflate the stock market will make ever more people on the other side of the social spectrum even poorer until finally the Arab Spring makes its lone overdue appearance in America.

From ProPublica:


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