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View Diary: When the Madness Starts, It Will Consume Us All. (91 comments)

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  •  I agree, it doesn't seem like the '30's, but I (2+ / 0-)
    Recommended by:
    Badabing, ontheleftcoast

    think that's only because most households were two income by the year 2000, which means that many families are ekeing by on half the income they had.

    The number of foreclosures is easily matching the number of farm foreclosures in the early 1930's, and the unemployment roles no longer tell a true picture -- they don't count those who cannot collect unemployment, so about half or less of all those unemployed are counted. I've heard estimates as high as 25% from some economists.

    Into The Woods, in the comment above refers to the safety net (or what's left of it), and there is some of that, too. Unemployment, for example, holds about 40% of the unemployed above subsistence level for a while.

    So, I think it is indeed worse than it seems, partly because the structural problems that got us here are being ignored nearly three years after the crash.

    Indeed, a closer look at the 1930's reveals a situation very similar in terms of the recovery of corporate profits, though the stock market has improved faster than it did in the '30's.

    You are right, of course -- the worse is indeed yet to come. Hopefully I have my place in the wilderness picked out, because I won't live on the street. I'll die in the woods first.

    •  There is more here than meets the eye (2+ / 0-)
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      Foxwizard, Badabing

      (or perhaps the nostrils). Thanks for the well thought out response. I can't argue with you on any of your points. It's brutal and many people aren't willing to admit that it is. Just because you've got a job, or don't see the local effects of markets collapsing, or the climate changing doesn't mean they aren't. And trying to change the course of these various Titanics before they hit an iceberg is going to be difficult at best, maybe impossible.

      I have a purpose in life, I am my cat's doorman.

      by ontheleftcoast on Mon Jan 24, 2011 at 08:30:11 AM PST

      [ Parent ]

      •  Yes, it will be difficult; but that doesn't mean (0+ / 0-)

        we should stop trying. Indeed, I believe that the next generation will have to struggle and fight for their future unlike any since my father's; possibly unlike any since the panic of 1877.

        For me, it is nearly too late. But once I am forced out of work, I hope I will be physically able to join the young. They will be forced to wake up, and in Georgia there are signs they may be. But it's too early to see. There are still an awful lot that seem just to be functional nihilists, though they won't admit it.

        Of course, I'm comparing them with my own generation's revolutionary fervor in the '60's, and maybe that's not fair. But we must keep working for change, with a new party if not the sold-out democrats.

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