Posts tagged poverty
Posts tagged poverty
Welcome to the Suburban Depression
The suburban poverty rate is 11.8 percent, a level not seen since 1967.
A key factor in the rise in suburban poverty may be the fact that the housing market has played such a central role in the economic slump.
Many suburbs have seen a vast amount of wealth erased by declining housing markets and mortgage foreclosures, resulting in a great deal of economic dislocation. Since white Americans are more likely to own homes than African Americans, this could also explain why whites have fared worse than they did in the 1990s while African Americans have fared better.
America is getting poorer. The U.S. government has just released a bunch of new statistics about poverty in America, and once again this year the news is not good. According to a special report from the U.S. Census Bureau, 46.2 million Americans are now living in poverty. The number of those living in poverty in America has grown by 2.6 million in just the last 12 months, and that is the largest increase that we have ever seen since the U.S. government began calculating poverty figures back in 1959.
More Americans lived in poverty in 2010 than in any other time that records have been collected, according to US Census data released yesterday. Median household income fell, too, and a growing number of people are without health insurance.
An additional 2.6 million people became officially poor last year, raising the poverty rate from 14.3 percent in 2009 to 15.1 percent. It was the fourth year in a row that the ranks of the poor grew, and Sawhill predicts poverty rates will rise to 16 percent by 2014.
U.S. poverty totals hit a 50-year high Census Bureau’s grim statistics show recession’s lingering effects, as young adults move back home and 1 million more Americans go without health insurance … In a grim portrait of a nation in economic turmoil, the government reported that the number of people living in poverty last year surged to 46.2 million — the most in at least half a century — as 1 million more Americans went without health insurance and household incomes fell sharply. – Los Angeles Times
Dominant Social Theme: These things happen. No reason. Depressions spontaneously occur. They are “market mistakes.”
Free-Market Analysis: We’ve spent considerable time in the past three years (the past decade, actually), analyzing how the powers-that-be have reorganized society, especially American society, in a way that relentlessly reduces prosperity. Figures released yesterday from the US Census provide a startling illustration of just how effective elites have been. (See excerpt above.)
Why would a handful of wealthy central banking families want to impoverish the US and render its citizens penniless? Our conclusion is simple: World government is on the way and the American culture is still resistant to the kind of hyper-regulatory corporatism that is necessary to support this kind of governance.Read More
John Steinbeck understood the bootstrap myth is just that - a myth.