Very few states are going to make it through this recession. Many people I know are moving to Texas and Oklahoma where the large oil companies are, they have successfully found high paying jobs there and are now living in nice homes with nice schools and parks nearby for their children. Currently the oil and gas bubble is supplying a lot of jobs to the citizens of the United States. Engineers are making well over $150,000 in Oklahoma which is a lot of money in that economy... I would say those wages are equivalent to $300,000+ in California or Florida. Not too shabby for a "blue collar" oil job!
So many of our friends and co-workers are now, and have been for a while, struggling to make ends meet. The sad part is that it was mostly caused by their own poor choices. They and many americans spent (money they didn't have) like drunken sailors on shore liberty. Our entire economy is built on consumerism; i.e., spend, spend, spend. Buy "stuff" so china can import more "stuff" and then we can buy more "stuff" that we don't need. IMHO another recession will be the final nail in the coffin. We already can't manage more than a sputtering consumer based economy in a supposed recovery. When the upcoming recession hits, it's going to crush us. The only solace I can manage is to say that we won't be alone in colossal mess thats coming round the bend!
"Another recession"???? Hard to imagine that most people have not already realized that the first recession never ended. It just deepened into an economic depression.
I just finished reading the Sunday edition of the biggest newspaper in my state. (The Oregonian.) The lead story, on the front page, is a lengthy feature detailing hunger and the need for emergency food help in this state. For the first time, the Oregon Food Bank (a statewide network) reported that agencies it serves distributed more than one million emergency food boxes during the last year. This is up 12% from the previous year.
One in every five Oregon residents is on food stamps. This is up 8% from last year.....and has nearly doubled since 2003.
That is a staggering number of hungry people. I have no doubt that it will continue to increase, as people run out of unemployment benefits. Also, the housing crisis has not yet fully impacted the Northwest. (Oregon is always the last state to experience "recession" and the last one to recover from it, too.) So, home foreclosures are still an ongoing problem.
For anyone, who still thinks this is only a recession and is going to get better.......take a ride around your town in your car. Ask yourself if any previous recession you can remember has included a lot of people living in their cars and trucks, people digging thru dumpsters for discarded food, lines of people waiting to get into churches and missions for lunch or dinner, food banks overwhelmed by growing demand and struggling to keep up with that, panhandlers all over town, and families losing their homes to foreclosure. Maybe you will even see a tent city, or people camped out and living under highway overpasses.
Personally, I know when things last looked like this. In photographs I have seen, which were taken during the 1930's Depression.
One of the talking heads but it this way l,the reason it doen't feel like it's a deperation is we don't see soup lines like the 20's because we have hidden it by extending the unemployment way longer than any other time. The government has papered over a very bad time. I'm afraid we'll see worse and all we can do is be as ready as possible .
I have a boring job that I dread but I have a job. I'm the greyman employee, too usefull to dump, too accomodating to remeber. Perfect. I spend far less than I make. I am frugal. I have never been the first owner of a vehicle or leased one.
Few Americans can say all of that. Few have bothered to get educated or think tactically or strategically about thier employment.
They are willingly sheep. They have been shorn now, and, its a bloody thing.