Shop Talk
Retailers, consumers and prices
The U.S. recession ends, but not for you
Experts say U.S. economic growth has returned, signaling the end of the longest and deepest recession since the Great Depression.
But the good news for Wall Street — where shares have been running up — is showing no signs of trickling down to Main Street, where unemployment is flirting with 10 percent, foreclosures continue to rise and record numbers of families now depend on government-issued food stamps to make ends meet.
“For every person out of work, for every family facing foreclosure, for every small business facing a credit crunch, the recession remains alive and acute,” U.S. Treasury Secretary Timothy Geithner said in testimony to a congressional committee.
“Many people you might have called middle class or working class before have been ground down toward poverty or even destitution,” said author Barbara Ehrenreich, who has chronicled America’s working poor during her career.
While most Americans either fret about a job loss or deal with the financial devastation of joblessness, the income gap between the super rich in the United States and the average Joe is the largest since the 1920s. Nearly one-sixth of the U.S. population is uninsured. And, contrary to popular belief, Americans are less likely to move to a higher financial status than people who live in “socialist” countries like Germany, Canada, France or Sweden.
Many economists, who warn that the U.S. economy is in for a “jobless recovery,” caution that the turnaround is on fragile ground.
-
Resident Shop Talk Expert
-
The recession is not over, as a matter of fact it’s just getting into full swing. This is merely a publicity stunt by the government to attempt to sway public opinion. They are intent on making as many people dependent on the government as possible, thereby creating a government run state. Some call it socialism. The sad thing is that it’s working because too many people continue to do nothing about the run away policies of the current admininstration. It’s simply a matter of not reelecting any current politicians, from the local good old boys, to the congress, and not electing anyone who’s held office in the past. Email your representatives and tell them that you’re fed up with this. It works in other countries. If we don’t get a handle on this, it’s going to be very bad for the people of this country.