AS helicopter Ben Bernanke testifies before Congress, we see yet again that all the quantative easing that the Fed has done has yet to ‘jump start’ the economy. At best and this is a huge supposition, the economy isn’t in total shambles.
On the human end of things, most people that are still without jobs their lives are in complete shambles. I think it is fair to say that there are millions out there that would love to work, unfortunately there are damn few jobs out there.
Why can’t those that had jobs become employed you might ask? There are so many reasons such as; Age discrimination, the older you are the more likely that you are laid off first and will be the last to be hired-if at all; many have simply given up looking for a job now, after 99 weeks the benefits are all gone and the psychological toll on many is overwhelming. Calls to suicide hot lines have tripled since 2008.
The devastation to the economy just gets worse as these unemployed folds that have mortgages lose their homes, over 6 million foreclosures since 2008. Entire neighborhoods are affected as prices fall dramatically with no buyers. Many end up in shelters or if fortunate with family and/or friends.
The health consequences are also huge as the stress causes multiple health issues and without money to pay for insurance and/or treatments the medicaid system is taxed to the limits.
These are just some of the effects of our current state of affairs. The problems in our economy are now so systemic that it will take someone with incredible courage to ‘right this ship’. Again unfortunately politicians are not the guys that will do anything about this. They don’t really know enough about economics and business to make good judgement calls. They depend on special interest groups to educate them and that is really unfortunate as these groups have highly skewed view points.
Alas, it always comes down to money! Those that can pay the lobbyists get the rules that favor them to the exclusion of everyone else. It can get better but it will take the efforts of everyone united.
Why aren’t these unemployed out in the streets protesting the lack of attention on the economy? Well when you don’t have anything it is very difficult to drive down the street much less go farther afield to attend a rally….
What a system, wipe out the middle class and take away everything, even their voice! Have we become a feudal society?