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American Dream or Great Depression?

Bruce Lindfield

Bruce Lindfield

Unprofessional TalkBass Contributor
Gold Supporting Member
In Memoriam
Dec 13, 1999
32,313
197
Brighton, England, UK, Europe
#1
So today I saw a thread about the "American Dream" - but I also saw the front page of the Independent newspaper proclaiming :


USA 2008: The Great Depression

Food stamps are the symbol of poverty in the US. In the era of the credit crunch, a record 28 million Americans are now relying on them to survive – a sure sign the world's richest country faces economic crisis

We knew things were bad on Wall Street, but on Main Street it may be worse. Startling official statistics show that as a new economic recession stalks the United States, a record number of Americans will shortly be depending on food stamps just to feed themselves and their families.


Dismal projections by the Congressional Budget Office in Washington suggest that in the fiscal year starting in October, 28 million people in the US will be using government food stamps to buy essential groceries, the highest level since the food assistance programme was introduced in the 1960s.


Invalid Link Removed


So - is it really that bad?

[NB - I don't want this to be political in any way - I am just interested in what is going on for ordinary people!]
 
#2
actually, a lot of college students live on food stamps.at least, the students i knew. this was also back in 2001-2002, which was also a hard time for a lot of folks.

but i'm not eligible for them, so i wouldn't know....and as a fully employed single person with no kids, i am grateful that i can feed myself.
 
#6
In Michigan where I am, things are indeed bleak. We are experiencing a 1 state recession. Unemployment is over 7% and a lot of major manufacturers (our bread and butter) are moving to Mexico or China. I saw an article a few days ago that stated that the number of people in the state receiving food stamps is at its highest point since the program was put into action.

The housing crash hasn't helped things any either. The house next door to mine has been turned into section 8 housing, and there are at least three vacant houses (foreclosed) within a 5 minute walk of my own house.

I would love to sell my house and move on to greener pastures, but nobody is buying at the present moment and they say that's going to be the case for at least a few more years.
 
#7
Lou Dobbs has been talking about the erosion of the middle class for years now....and the bifurcation of America into an upper and lower class. Corporations have sold out our manufacturing capability and middle class for quick, short term profits.
 
#8
Bruce Lindfield said:
So today I saw a thread about the "American Dream" - but I also saw the front page of the Independent newspaper proclaiming :


USA 2008: The Great Depression

Food stamps are the symbol of poverty in the US. In the era of the credit crunch, a record 28 million Americans are now relying on them to survive – a sure sign the world's richest country faces economic crisis

We knew things were bad on Wall Street, but on Main Street it may be worse. Startling official statistics show that as a new economic recession stalks the United States, a record number of Americans will shortly be depending on food stamps just to feed themselves and their families.


Dismal projections by the Congressional Budget Office in Washington suggest that in the fiscal year starting in October, 28 million people in the US will be using government food stamps to buy essential groceries, the highest level since the food assistance programme was introduced in the 1960s.


Invalid Link Removed


So - is it really that bad?

[NB - I don't want this to be political in any way - I am just interested in what is going on for ordinary people!]
Click to expand...

The one statistic cited in this excerpt proves what? I daresay the population of the US is also at its highest level since food stamps were introduced in the 1960s. I'm not saying there isn't reason to worry, but that number is meaningless without more information.
 
#9
seventhson said:
Corporations have sold out our manufacturing capability and middle class for quick, short term profits.
Click to expand...

Not to pick on you, but corporations, although enjoying legal personality, are controlled by directors for the benefit of their shareholders - corporations don't make decisions - people do. The point is, its not the "corporations" that have sold out, its the underlying shareholders or directors. Often, your fellow citizens (but more often now - overseas owners as well).
 
#15
jomahu said:
seems like everyone is talking bout the US economy. how is Rush country doing these days?
Click to expand...

Things are slowing down, but no where near as bad as in the states. Actually the worst is in the maritime Provinces, but that will pick up soon because there is a huge oil deal that got signed last year. Ontario is the manufacturing capital and it is slowing down that fastest, but it isn't near as bad as Michigan or Ohio. Alberta is booming like crazy, they are so desperate for workers that they are paying people working at McDonalds $17-20 an hour to start. BC is booming because of the Olympics coming there in 2010. So overall we are doing decent. Last quarter GDP was up, so that is a good sign.

lowsound
 
#16
Mark Latimour said:
Not to pick on you, but corporations, although enjoying legal personality, are controlled by directors for the benefit of their shareholders - corporations don't make decisions - people do. The point is, its not the "corporations" that have sold out, its the underlying shareholders or directors. Often, your fellow citizens (but more often now - overseas owners as well).
Click to expand...

Actually, under U.S. law, a corporation is an "individual" with rights. The directors make the decisions, but legally, the corporation is a "person".

Sad, but true.

Cherie
 
#17
txbasschik said:
Actually, under U.S. law, a corporation is an "individual" with rights. The directors make the decisions, but legally, the corporation is a "person".

Sad, but true.

Cherie
Click to expand...

Perhaps you missed the bolded part below:

Mark Latimour said:
Not to pick on you, but corporations, although enjoying legal personality, are controlled by directors for the benefit of their shareholders - corporations don't make decisions - people do. The point is, its not the "corporations" that have sold out, its the underlying shareholders or directors. Often, your fellow citizens (but more often now - overseas owners as well).
Click to expand...

As I said, although the corporations are legal persons, it is not the "corporation" that is screwing you - it the persons making the decisions.
 
#18
the thing I see happening is the middle class dissapearing

people are either rich or poor these days in the US.

it's not hard to go out and make money in the US. It's the people I blame not the government.

Maybe I blame the government a little for enabling the useless.
 
#19
I can't speak for the rest of America, since I live in one of the areas in the U.S. actually experiencing growth right now. More parts of the port are opening up, etc.


I know my family isn't hurting in the least, unless you count paying more for items because of the weak dollar.
 
#20
69nites said:
Maybe I blame the government a little for enabling the useless.
Click to expand...

i thought the 'useless' was the government.:smug:

the two factors that lead to societal crumble: eradication of the middle class and a decline of the quality of education.

i was watching the doc 'the one percent' and they made a good point - any country (see: latin america) that allows such disparity between rich and poor usually find itself with very fertile grounds for armed militia and coup.
it will prolly not happen here, but it's interesting nonetheless.
 

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