Monday, August 8, 2011

If this isn’t a recession, what the heck is it?

The belt is going to have to come in a few more notches

As this past week has shown, things don’t really seem to be getting better in this country. I’m still hoping for change, but angry that the regressives in this country seem to be having their way. The rich get rich and the poor get poorer and in the meantime it’s sometimes hard to see the fun.

When the bubble burst, stock market crashed, and the Great Recession started in ’08 I figured that we’d hunker down, tighten our belts and wait it out. In the meantime my husband’s job was eliminated. True, he had retirement from 25 plus years with the FAA, but that is a half salary and there are not a lot of jobs for aging airtraffic controllers in the private sector. True, he could have continued working for the company that took over his sector of the FAA, but it would have meant relocating to undesirable parts of the country (Sorry, Texas, Arizona, and Virginia) leaving behind aging parents. His unemployment is due to run out in October and my live-in son and I will be receiving a 2% pay cuts this year.

I have a friend who insists that circumstances are a matter of visualization and attitude. It is hard to be optimistic right now. My daughter-in-law has taken to not watching the news and reminding me that we have each other and our heath. Blessings indeed, but that hardly makes the mortgage payment on a house worth less than it was three years ago. I probably should stop listening to the news, too, but I'm too much of a junkie to do that. The belt is going to have to come in a few more notches and yet economists can’t seem to agree. Is the recession over? Are we going into a double-dip recession? If this isn’t a recession, what the heck is it?


Irene said...

I hear you, Stephanie. What frosts me even more is all this talk about "job creators" and how big businesses shouldn't be taxed. So - how well has that worked for us since the Bush years? I don't see any jobs from these companies at all. They are making record profits, paying no taxes, and some are even getting government subsidies. Argh!! How is that even possible??

Stephanie Frieze said...

Exactly what Dave has said. They can't show that any jobs have been created by giving corporations all these tax breaks. I don't know where all of this is going to end. We seem to be headed for a feudal society.