Tag Archives: Recession

Recession/Recovery

Recession/Recovery

When people lose good jobs, their misery is downplayed. When they get new, worse jobs, it’s categorized as big progress – even though their worse off than before. Such is the nature of the current “recovery,” which has replaced lost jobs with worse ones.

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LOS ANGELES TIMES CARTOON: Roommates from Hell

Roommates

 

Southern California has always had one of the priciest real estate markets in the United States, but in recent years the gap between what people can afford to pay for rent or mortgage and median housing prices has opened to a gaping chasm.

Tim Logan of the Times reports about new data that reflects just how bad things have gotten for most Southlanders:

            Nearly half of all working-age adults in Los Angeles and Orange counties live in a home with another adult who is not their spouse — a higher percentage than any other big city in the country, according a new report by real estate website Zillow. In second place: the Inland Empire.

Economists at Zillow crunched U.S. census numbers and found that 47.9% of adults in metro L.A. lived in “doubled-up” households in 2012, a number that has grown rapidly — up from 41.2% in 2000 — as the recession and yo-yo-ing housing market have pushed more people to share apartments.

“You’ve got a lot of households that are blending together,” said Zillow economist Skylar Olsen. “They’re doing that to make housing more affordable.”

That’s especially true in Southern California, where relatively high costs and relatively low wages combine to create what is, by some measures, the least affordable housing market in the country, especially for renters.

One has to wonder: how is this sustainable? Although there’s been some improvement in the economy, unemployment, especially long-term, remains stubbornly high. Wages remain stagnant. You can’t squeeze blood out of a stone. Won’t people just move away to somewhere more affordable?

Maybe eventually. For the time being, the pull of family ties, whatever work they currently hasveand just plain inertia is keeping hundreds of thousands of people stuck in houses and apartments that they can’t really afford. Until things turn around, maybe, someday, who knows when, they are doubling up and tripling up with friends, lovers and random people they find on Craigslist. As someone who has from time to time been forced to participate in the so-called “sharing economy” to make ends meet, I have nothing but sympathy for this situation.

Having a roommate you don’t want, simply for economic reasons, violates your privacy and sense of personal calm at least as much as secret government surveillance programs that intercept your email. This goes double if, like me, you are an introvert.

For this week’s cartoon, however, I do appreciate the fact that this predicament makes for a fun sight gag. If I had the ability to add sound here, imagine all the characters either snoring or growling ominously like zombies.

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The New Optimism

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According to a new poll, Americans are increasingly pessimistic about their future and that of their children. Half of Americans doubt they’ll get as raise or a better job within the next five years. But hey, we’re Americans. We’ll adapt!

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Fake It Until You Make It

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Studies prove that employers discriminate against the unemployed, viewing them as incompetent and undesirable. What should someone who got laid off a couple of years ago do? Hire a company to hire them, and leverage their fake credentials to get the job of their dreams.

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Proletariat Steak

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A little noticed aspect of the fiscal cliff deal between congressional Republicans and the White House involved the establishment of a new way to calculate the federal inflation rate. Now we will have the so-called “chained consumer price index.” The chained CPI literally assumes that, as products increase in price, we don’t have to actually counts them as having increased in price because consumers can replace those more expensive items with cheaper substitutes. This allows the government to claim that inflation is lower or nonexistent, thus denying recipients of Social Security and other federal entitlement programs their right to a cost of living increase.

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Austerity Made Simple

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All over the world, and now here in the United States with the so-called “fiscal cliff” accounting crisis, ordinary people are being told that they must tighten their belts. Why? In order to pay the bills of wealthy elite individuals and corporations that enjoyed almost all of the profits of the boom times and indeed are continuing to live lavishly today.

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SYNDICATED COLUMN: Our Contempt is Bipartisan

Both Zombie Parties Too Stubborn To Admit They’re Dead

Neither party gets it.

They both think they won. And they sort of did.

But we still hate them.

Democrats are patting themselves on the back, congratulating themselves for a mandate that neither exists–50.4% to 48.1% does not a mandate make–nor, if were real, would be actionable (Republicans still control the House). “Republicans need to have a serious talk with themselves, and they need to change,” Democratic columnist E.J. Dionne sniped in the Washington Post.

Not likely. If Republicans could change anything, it would be the weather. “If you hadn’t had the storm, there would have been more of a chance for the Romney campaign to talk about the deficit, the debt, the economy,” Karl Rove told the Post. (Which leaves out the fact that the places hit hardest by Hurricane Sandy, New York and New Jersey, are not GOP states.)

“We [Congressional Republicans] will have as much of a mandate as he [Obama] will,” claimed Speaker John Boehner.

The donkeys and the elephants think they’re awesome. Their plan to govern America for the next four years? Keep on keeping on. Why change?

Both parties are insane and self-delusional.

Voters are narrowly divided between the Ds and the Rs–because we can’t decide which one we hate most.

One out of three people think the two-party system is broken, and complain that neither party represents their political views.

A staggering number of people are boycotting quadrennial exercises in pseudodemocracy. Despite the advent of convenient early voting by mail, Election Day 2012 saw a “major plunge in turnout nationally” compared to 2008. About 42.5% of registered voters stayed home this year.

There were a substantial number of protest votes.

In one of the most ignored and interesting stories coming out of Election Day, one and a half million people voted for Libertarian Gary Johnson and Green Party candidate Jill Stein. Since Johnson and Stein were even more thoroughly censored than previous third-party candidates–Johnson and Stein were denied interviews on the major networks and locked out of the presidential debates–many of these votes must have been for “none of the above.”

Democrats didn’t win this election.

Neither did the Republicans.

Give the parties credit: They’ve united us in our contempt. Liberals and progressives hate the Democrats, which takes their votes for granted and ignores them. Conservatives hate the GOP for the same reasons. And moderates hate both parties because they don’t get along.

Who won? Not us.

Since the economy collapsed in 2008, Americans have made consistently clear what their number-one priority was: jobs. Yet the two major parties have focused on anything but.

The Tea Party convinced Republicans to campaign on paying down the national debt. Deficits, the debt and entitlements are important–but those problems are not nearly as urgent as unemployment and underemployment. When you’ve lost your job–as millions of Americans have since 2008–you need a new job now. Not next week. Not next year. NOW. You sure don’t need a job next decade–and that’s if you believe that austerity stimulates the economy. “Romney is not offering a plausible solution to the [unemployment] crisis,” Jonathan Chait wrote in New York magazine back in June. Romney never did.

And that’s why he lost.

Jobs were the #1 issue with voters, Obama never reduced unemployment and Romney had a credible narrative as a corporate turnaround expert. By all rights, Romney should have won. But he never delivered what voters wanted: a credible turnaround plan for the terrible jobs market–one with quick results.

Not that Obama and the Democrats have much to celebrate.

The president nearly lost to one of the worst challengers of all time, a bumbling, inarticulate Monopoly Man caricature of an evil capitalist. Democrats only picked up a few seats in Congress–this to a Republican Party whose platform on social issues was lifted from the Taliban, and whose major political figures included two rape apologists.

Like the GOP, Democrats paid lip service to the economy but never put forward a credible proposal that would have created millions of new jobs next week, not next decade. In 2009, while millions were losing their homes to foreclosure, Obama dwelled instead on healthcare reform. Like the deficits, the healthcare crisis is real and important–but it wasn’t nearly as urgent as the jobs catastrophe. Which, planted stories about fictional recoveries to the contrary, continues unabated.

Four years into an existential crisis that likely marks the final crisis of late-stage capitalism, an economic seizure of epic proportions that has impoverished tens of millions of Americans and driven many to suicide, the United States is governed by two parties that don’t have a clue about what we want or what we need.

Change? Not these guys. Not unless we force them to–or, better yet, get rid of them.

(Ted Rall‘s is the author of “The Book of Obama: How We Went From Hope and Change to the Age of Revolt.” His website is tedrall.com.)

COPYRIGHT 2012 TED RALL

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True Debate Fun

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At the second presidential debate on Long Island, 20-year-old college student Jeremy Epstein asked President Obama and Governor Mitt Romney what either of them could say to his worries that he wouldn’t be able to find gainful employment after graduation. Neither of them had anything to say–but that didn’t stop them.

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