Wall Street and The Little Depression
Stan Grimes
December 07, 2008
Payday to payday, thatīs how it is. Many people know what it is. Itīs called living the American dream, only itīs being done payday to payday. It is painfully true that many people are an accident away from bankruptcy, a lost job away from bankruptcy, or a broken vehicle away from bankruptcy. Thatīs how we live in this great land of ours.
533,000 jobs lost in November alone is proof perfect that we live a very tenuous life in this country and perhaps all over the globe. "Not a depression" our leaders tell us. Funny, the word "depression," also refers to a state of mind. Coincidence? Maybe. Maybe not, the word refers to being in a perpetual state of sadness. Losing your job, losing your healthcare coverage, and your home would more than likely lead to a perpetual state of sadness, or in my mind, a great depression.
My question is why label it a "recession" or a "deep recession?" Canīt we be more realistic? Though we know itīs not the "Great" depression, it certainly causes depression. Instead of recession letīs call it the "small depression." Maybe the next step from the small depression would be the "mild depression." That would seem a more appropriate order of our countryīs condition.
Losing jobs for some is not a problem. They work in a field that is a "high demand" profession like nurses, doctors, computer techs, or politicians (if they behave themselves). But for most people losing a job usually is comparable to a Great Depression. If not so then probably they are independently wealthy or just hit the lottery, both doubtful scenarios. Itīs not just a financial Great Depression. Itīs a moral depression, a loss of self-esteem, and a loss of understanding.
It is the holiday season and look what your company or corporation just gave you, a pink slip. Try hanging that on your tree. In fact try taking that to a nearby grocery store and see if it will buy Christmas dinner. You say to your boss, "Thanks so much, Mr. Smith, Tiny Tim and Martha canīt wait to move into the Rescue Mission. Hey, at least itīs not the "Great Depression" right? Right. Itīs just a recession.
Do our stomachs know the difference between a depression and a recession, our mortgage companies, or our utility companies? No. Itīs all the same to them. Put lipstick on a pig, itīs still a pig (sorry Sarah).
Instead of getting upset with our businesses for handing our pink slips to us, letīs blame the real thieves, our elected officials. Turning their backs to the wheeling and dealing on Wall Street, which by the way, has not put one damn bulb on your Christmas tree this year. Wall Street CEOs are still going to have a nice Christmas and I imagine our elected officials will also. I do hope they send me a card this year so my wife and I can at least start a fire in the fireplace now where did I put that one match I had?
533,000 jobs lost in November alone is proof perfect that we live a very tenuous life in this country and perhaps all over the globe. "Not a depression" our leaders tell us. Funny, the word "depression," also refers to a state of mind. Coincidence? Maybe. Maybe not, the word refers to being in a perpetual state of sadness. Losing your job, losing your healthcare coverage, and your home would more than likely lead to a perpetual state of sadness, or in my mind, a great depression.
My question is why label it a "recession" or a "deep recession?" Canīt we be more realistic? Though we know itīs not the "Great" depression, it certainly causes depression. Instead of recession letīs call it the "small depression." Maybe the next step from the small depression would be the "mild depression." That would seem a more appropriate order of our countryīs condition.
Losing jobs for some is not a problem. They work in a field that is a "high demand" profession like nurses, doctors, computer techs, or politicians (if they behave themselves). But for most people losing a job usually is comparable to a Great Depression. If not so then probably they are independently wealthy or just hit the lottery, both doubtful scenarios. Itīs not just a financial Great Depression. Itīs a moral depression, a loss of self-esteem, and a loss of understanding.
It is the holiday season and look what your company or corporation just gave you, a pink slip. Try hanging that on your tree. In fact try taking that to a nearby grocery store and see if it will buy Christmas dinner. You say to your boss, "Thanks so much, Mr. Smith, Tiny Tim and Martha canīt wait to move into the Rescue Mission. Hey, at least itīs not the "Great Depression" right? Right. Itīs just a recession.
Do our stomachs know the difference between a depression and a recession, our mortgage companies, or our utility companies? No. Itīs all the same to them. Put lipstick on a pig, itīs still a pig (sorry Sarah).
Instead of getting upset with our businesses for handing our pink slips to us, letīs blame the real thieves, our elected officials. Turning their backs to the wheeling and dealing on Wall Street, which by the way, has not put one damn bulb on your Christmas tree this year. Wall Street CEOs are still going to have a nice Christmas and I imagine our elected officials will also. I do hope they send me a card this year so my wife and I can at least start a fire in the fireplace now where did I put that one match I had?
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