THE RECESSION IS OVER!
So get up out of that tent, out from under that overpass and toss that “Will Work For Food” cardboard sign down and howl up at the sky, “I’m glad as hell and I’m going to keep taking it evermore!”
An interesting statistic that goes along with that, there are now a greater number of Day Laborers hanging out at Home Depots who are white and American. Foreclosures continue at a fast clip, job growth is on life support and credit is STILL hard to get even though banks and financial businesses declare billions in profits each quarter.
When the economy collapsed, some saw that as a unique opportunity, to re-structure the corporate domination of politics and the financial underpinning of the nation. I’m of course talking about the Bushies, banks and Wall Street who saw it as a singular opportunity to further concentrate their power. There were those of us who thought it could be an opportunity to reign in these corporations and return financial equity to the majority in this nation. We were apparently just exhibiting a bit of irrational exuberance.
Let’s consider where we stand today. There are less banks today then before, the existing ones have actually become far bigger than before the crash, consolidating more money and power in fewer hands. They received hundreds of billions in tax payer money to give themselves profitable quarters, bonuses, acquire other banks and businesses and most of all, contribute to politicians. Think about that for a moment, our tax dollars went to corporations who in turn gave our money to politicians so that the politicians would favor their interests over ours.
As dysfunctional as our economy was before the crash, I would argue it is exponentially more dysfunctional today.
The official government U-6 figures for unemployment, which include those who the government conveniently exclude in the U-3 numbers that they hold up publicly (http://www.bls.gov/news.release/empsit.t12.htm) shows a current unemployment rate nationally of 17.5%. The site Shadow Government Statistics, which uses calculations as they were made before 1994, before the last few presidents rigged them, shows over 22% unemployment nationally (http://www.shadowstats.com/).
The dynamic before the crash was that CEOs were making over 300 times the average worker’s salary. So, how does that pay ratio stack up today against things these days where the CEO’s pay stays about the same and the ex-worker’s salary is whatever fraction of their old pay unemployment insurance pays?
More money and power in the hands of the top 1%, pushing them up and above the majority of this nation even farther. Meanwhile, for the 99%, foreclosures, trouble paying bills, unemployment and poverty are growing.
And yet to look at the cable news channels, the recession is over because the Dow is above 10,000 and the financial corporations, their execs and stock shares are all doing great.
All the “experts” say it’s important for the public to be confident in order to spend the nation back to a recovery (however confident 22% of the nation is, they don’t have the money to spend on SnugWows right about now).
So, they need the public to be upbeat and confident. With this in mind, why would we ever expect the media outlets that are owned by corporations who want the economy to be growing so their profits will too, to focus on or even share news that sufficiently or accurately portrays the desperate situation a huge share of Americans are going through?
If we were in the equivalent of a Depression, would they really lead with that instead of Tiger Woods’ driving into the rough or the “Who Wants to be a Celebrity Douchebag?!” couple who crash a WH dinner?
Accurately reporting our nation’s true financial state (er…the long term impact of enormous deficits anyone?) is not going to inspire much confidence. At a time like this, perhaps we should turn to our nation’s top financial genius, Phil Gramm and his insight and wisdom from last year, this is only “a mental recession” and the United States is “a nation of whiners.”
So, you folks losing your homes, quitcher bitchin’! You people out of work, stop your whining about, “My daughter needs medicine” and “We can’t afford enough to eat”! You’re all just nattering nabobs of negativity! The recession is over! Get used to it. And get used to being in debt for the rest of your lives, having trouble affording gas, food, electricity, water, college for your kids and a retirement for yourself.
All that negativity of yours and your uninsured family is really putting a drag on the Dow…so knock it off! You’re consumers and we’ve got a recovery to sell, all you have to do is act instinctually and buy-buy-buy it.
Hey, we’ll even throw in a SnugWow! Deal?