Financial Inequality Rapidly Grows in US

[L. Coyote]

Run time: 00:41 https://www.youtube.com/watch?v=k1xAmOSV2d4   Posted on YouTube: October 28, 2008 By YouTube Member: Views on YouTube: 0   Posted on DU: October 28, 2008 By DU Member: L. Coyote Views on DU: 564

 

[snappyturtle]

1. I'm glad to hear Amy talking about inequality unfortunately we don't

hear even a whisper on the subject from MSM. It's a start.

[Chrishelms]

3. The MSM mostly ignores wealth disparity

They'll go on and on about The Estate Tax and not mention that something like 98% of Americans will never have enough of an estate to have to worry about it.

[desktop]

4. MS Media concerned with customers of their advertisers

People in poverty and near poverty don't buy much of anything therefore are considered to be a non demographic, aka..to be ignored.

[Turbineguy]

2. McCain

claims Obama wants to re-distribute the wealth. He wants to take my money away from me and give it to somebody else. But apparently that somebody else are not naked-short-sellers or investment bankers. Anyway if that's the case, I can now afford to vote for Obama.

[99 Percent Sure]

5. "Working Poor" "Poverty" "Economic Distress" are swear words these days . . .

People use phrases such as 'wealth disparity' and such for some reason, as if, if they don't call it like it is, then it isn't that.

But the truth is that, as Democracy Now!'s guests discussed yesterday, one-fifth of the American population - 60 MILLION PEOPLE - are barely surviving in this country that is supposed to be so wealthy.

Economic distress is particularly high in large metro areas - 31% of the population in Los Angeles, 32.4% in Miami, and 29.4% of families in Metro NYC are living well below the established poverty line. These same metro areas also have high debt rentals, and no rental controls that would prevent a landlord or property owner to jack up the rent because they can.

There have been no viable poverty programs since the 1970s; the 80s ushered in the era of conspicuous consumption and living way beyond one's means that has carried over to this day, though now the nation and many families are paying for it.

Most "middle class" people avoid poor people, even the ones they may know, even those in their families, as if they were the plague, often blaming them for their predicament. However, in the last few years, people are finding that it isn't just the uneducated, the illegal immigrant, the substance abusers or the mentally challenged who are in dire straits; there are a lot more of us who are highly competent, and out looking for employment every single day, and can not find it. These days it is difficult to even find a temp job. Poverty doesn't discriminate; given our proclivities over the last few years, any number of people are only one job, one paycheck away from poverty.

In today's economy where the job market is extremely tight, it is not enough to be talented, skilled, and highly competent because there is now an additional ism being added to the discrimination list - ageism. If you are over 40 and unemployed, it is difficult to find a job. Most people in their late 40s, early 50s and beyond who are unemployed and have been for a year or more, may never be gainfully employed again.

Until the late 90s, I never had a problem getting a job; I could either walk in off the street, test and be hired or, if working through an employment agency, I was usually offered a position after a week or so of being in a temp position. Now I am lucky if I can get an agency to call me back after I've registered with them, despite the fact that I type 75+ wpm, have strong knowlege of a lot of various software, including MS Office, Adobe Photoshop, etc.

The world is a ghetto and the US is number 3 in the world when it comes to the number of people in poverty. It ought not to be so, but it is.