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America's Woes Won't Stop Worsening: Recession, Depression, Implosion, Complete Collapse Or What?
As Christmas 2007 rappidly approaches it appears that hardly any one is getting fat across the Atlantic any more -- apart from the already infuriatingly fat (by too far), infamously favoured few fat-cats and their completely contemptible close knit clan of crooked cohorts, flunkies, families and friends and their ilk.
Of course there are still some who can't quite understand what all the fuss is about.
Nor can any among those self same, self serving, self satisfied sobs yet see the writing on the wall.
Which, upon further reflection, may not be all that bad a thing.
Since when the fast approaching, almighty avalanche of shit finally hits the fabled fan they certainly won't see it coming.
And when it does, as it soon surely must, they'll never know what hit them.
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Detroit's woes augur ill for US
By Adam Brookes -- BBC News, Detroit
Americans are worried that hard times lie ahead. But in Detroit, Michigan, they have already arrived, with a vengeance.
Michigan, by some calculations, has lost 400,000 jobs in the past seven years. That's in a state whose population is only 10 million.Coming soon to a city near you?
Detroit is seeing unemployment running at nearly 8%, twice the national average.
The number of homes in the city "foreclosed" - or repossessed by mortgage lenders - is among the highest in the country.
The city's charities are getting busier, a sign of economic distress.
(snip)
"This is ground zero when it comes to poverty," Augie Fernandez says.
"Here we are in the capital of manufacturing and we're just seeing it dissipate away."
"To find myself in a position where I couldn't afford a gallon of milk, I couldn't afford a loaf of bread - it was very humbling," he says.Read the rest of this very worrying report.
"For want of a better term it made me feel like a loser, like I wasn't able to provide even the basic things for my family, let alone anything beyond that."
I ask Daniel and Cynthia if they thought of themselves as middle class. They both answer yes. I ask if they still think of themselves as middle class.
"I think we're on the poverty line right now," says Daniel. He wonders if he will be able to hold on to his house.
Of course there are still some who can't quite understand what all the fuss is about.
Nor can any among those self same, self serving, self satisfied sobs yet see the writing on the wall.
Which, upon further reflection, may not be all that bad a thing.
Since when the fast approaching, almighty avalanche of shit finally hits the fabled fan they certainly won't see it coming.
And when it does, as it soon surely must, they'll never know what hit them.
*
Labels: depression, Detroit, hunger, implosion, Michigan, poverty, recession, unemployment
posted by Richard at Friday, November 16, 2007
