Only 11,000 jobs were lost in November 2009 which is so much better than 250,000 lost in September and October.  In fact negative eleven-thousand is the best loss in about two years.  Those unemployed and on the Labor Department rolls are now 10% of the population, down .3%.  The number says nothing about the underemployed, those whose benefits have run their course, those who never received benefits, and those who took crappier paying  jobs just to have some income coming in.

Chair of the Congressional Oversight Panel Elizabeth Warren gives an abysmal view of what lead to these conditions Americans endure in the Great Recession charting the last 20 years.  They have become increasingly productive for companies but have received little to no compensation for the achievement.  Families have turned to relying on two incomes to make ends meet, but the cost of a second car, child care, higher taxes, and ever increasing living expenses negated the gains that might have been made.

Now lenders on the other hand have made out like bandits in the same time frame.   The banks sold Americans debt at outrageous costs through unregulated practices and made billions.  When times got tough, they were the loudest at begging for a bailout, and they got it.  Main street was stiffed.

Here’s some escapist music for you.  It’s all I got.


11 thoughts on “OMG, You are SO poor!!!

  1. The charts that go with Warren’s talk are depressing. Virtually all increases in household income over the past couple of decades are due to spouses entering the workforce. Single worker income is flat.

    • (Thanks for visiting and your comment, thoughtbasket!)

      Depressing indeed. Greatly depressing. And what hasn’t gone up? Your house. The one thing people always thought they could depend on appreciating.

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