There is a stunning discourse right now between what is really happening (a big shout out to Mike Rivero for his excellent site) and the reality of it all. Just yesterday, the government released economic forecasts and, surprise, surprise, we are doing swimmingly according to it. The stock market is still going up, housing prices continue to rise, people are finding it easier to get a job and it's blue skies from here on out. Several economists they quoted say they see good things for the next five months with a huge uptick in economic growth. I would love to know where they got their projections from because all signs point the opposite way to a disaster of epic proportions.
The one thing we can all agree on is the stock market is indeed going up. However, it is going up, not due to increasing economic strength, but due to stock rigging and market buy backs. That's it. We know this because we have brains and some of us can still think for ourselves. Recent facts, like the FBI investigation into HFT, suggest that the stock market is a very bad indicator anymore of economic anything.
From here the lies begin to grow. Housing is still going up, but only in select places. If you are talking about Boston, NYC or DC, then yes, the housing market is still strong there, especially for expensive properties which are having a hard time keeping in stock. However, if you live in LA or Las Vegas or Phoenix or Detroit, housing is sinking and fast. The Blackstone Group, along with two other equity firms, have pulled back on buying housing by as much as 70%. This is causing a huge drop in prices in these areas which will eventually swamp the system once again. It looks a lot like 2007 again with the strong possibility that housing may once again tank the markets.
As for jobs, yeah there are jobs, just ones that pay next to nothing. We keep hearing that all those people who got laid off over the past 4 years are working again, which we are. However, 99% of us are making WAY less than we used to and economic growth shows this. Coldwater Creek, an excellent place to buy clothes by the way, is going under due to the fact that most of us can't afford new clothes right now. Family Dollar is likewise shuttering many of it's stores, meaning that many can't even afford to shop there anymore, a troubling aspect. The retail apocalypse continues as many shop on line, but even that shows a massive decline in purchasing power from that just a few years ago. Recent grads are finding it easier to get jobs which makes sense because everyone in the forties or older is being shown the door, so corporations can get cheaper labor. That is what your future holds right now kids, hard work for little pay, until you finally get to a point where you are actually making money and then they show you the door. Welcome to the right to work country of the United States of Suck It Little Man. Employees have no power, thanks to the right convincing the less stable of us that unions are pedophiles that deserve the death penalty.
Our middle class has fallen behind Canada now as the world's richest. As Seth Myers put it, "The 12 of those left in the middle class are mighty pissed." The poor have fared even worse, as we have fallen to fifth, behind Canada, Sweden, Norway, Finland and the Netherlands, otherwise known as the "scourge of socialism" which the right likes to scream about, not realizing that the best places to live on Earth are socialistic democracies. Go figure, helping the poor helps everyone. Where I have heard that before? Jesus maybe? No, it can't be as those Bible thumpers would certainly support whatever Jesus says, right? RIGHT?
Temp work is all the rage right now, as they can pay near nothing, offer zero benefits and get all the perks of having a slave. Awesome. All I find anymore as freelancer is temp work which pays okay but offers no stability or long term prospects. Some jobs literally pay nothing, which I do not even respond to. How bad is it? Nine out of the top ten jobs right now pay less than $35,000 a year. Try living off that with a family of four. It can't be done. Even with both parents working, a house, a new car and a vacation once a year is impossible under that salary. We have been reduced to a slave labor force and no one wants to upset the apple cart for fear of losing the few possessions they have left. To them I say, you sir are a Pussy. It's better to live on your feet than die on your knees. If we don't fight back, and soon, it will be far too late. Demand more from your politicians, your media, your friends. Stop voting for people whose greed is unmatched on either side of the aisle. Take back what is ours because very soon, it won't matter and any revolution will be doomed before it starts. Don't let it happen that way.