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The Masked Tulip

The Plight Of America's New Poor

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The economic recovery in the US has stalled and for the 15 million unemployed Americans, the land of opportunity seems anything but. Almost 50% of the unemployed have not had a job for at least six months, double the level of previous downturns. Newsnight's Peter Marshall witnessed the effects in Nevada - the state with the highest unemployment level.
"Three years ago we had good jobs and comfortable lives," explains Ben Costiloe, as he and his wife, Coral, show us around their beaten-up trailer in the Nevada desert - a few miles outside Reno.

Inside the trailer it is cramped and the heat is stifling. Yet the couple are grateful to at least have somewhere they can call home.

"I grew up in a comfortable middle-class family," says 57-year-old Coral. "I never dreamed I'd be as close to homeless as we were last year. I never dreamed I'd be close to homeless - ever."

Unemployment has pushed the Costiloes to the foot of the property ladder. When they both lost their jobs and were unable to find new ones, even renting a place in the city became unaffordable.

http://news.bbc.co.uk/1/hi/programmes/newsnight/8877129.stm

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Actually showed someone saying, "you can't spend your way out of debt.... and we have borrowed too much from other countries"

Blimey, what's got into the BBC all of a sudden? Actually showing some reality, and even sanity!

Edited by worst time buyer

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Coming to a cinema in the UK soon.

And for the same reasons. We will have to pull the subsidies soon if the Koalishon are serious about reducing our debt. If they are not serious the IMF and credit ratings agencies will take us to the cleaners. Of course, with 4-5TR debt there is no way we can keep up with the interest payments so we shall soon join other nations who indulged in Browns' era of fiscal madness and miracles.

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What strikes me about the article in the OP is,

"I never dreamed I'd be close to homeless - ever."

Now I don't want to be unkind about the unfortunate people the article talks about but that does strike me as a bit complacent.

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What strikes me about the article in the OP is,

"I never dreamed I'd be close to homeless - ever."

Now I don't want to be unkind about the unfortunate people the article talks about but that does strike me as a bit complacent.

Again and again we get people saying 'but we're middle class, how can it happen to us?'. They don't seem to realise that the status of 'middle class' is very tenuous; it's not a guarantee of affluence. Orwell illustrates this perfectly in his novel 'Keep the Aspidistra Flying' in the last depression.

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  • 142 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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