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The Masked Tulip

Recession Created 'epidemic' Of Homeless Families

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http://www.orlandosentinel.com/features/os-homeless-programs-overrun-20110110,0,2011085.story

Two years ago, Desiree and Wallace Emory lived in a rented 3,000-square-foot home in a gated community of Winter Garden. They had good jobs in the theme-park industry, two cars and plenty to take care of their five children and Desiree's mother, who suffers from rheumatoid arthritis. They were even saving each month to buy a home of their own.

Today, they're living in a downtown homeless shelter.

"All the way up to the end, until we came here in June, we thought we could pull ourselves out of trouble," said Desiree Emory, whose family has found refuge at the Orlando Union Rescue Mission. "We never imagined we would wind up here."

The story of their financial freefall is not particularly remarkable — it involves the typical culprits of layoffs, continued unemployment and escalating medical bills. What's remarkable is the growing number of Central Florida families who now find themselves in similar straits.

"These families have tapped out every resource they have — they've depleted savings, they've reached into retirement accounts, they've exhausted their credit limit," said Brent Trotter, president and CEO of the Coalition for the Homeless, which operates several shelters in downtown Orlando. "In this economic tsunami of a recession, they've become this whole new demographic of people who are experiencing the crisis of homelessness for the first time."

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Terrible - wouldn't wish this on anybody.

It began living beyond their means. Easy to do.

The rest as they say is history.

Moral. Don't borrow.

Look at the bigger picture man!

Credit based FIAT is debt. For urbanised, resourceless, landless peasants who must, in order merely to get by, exchange the only thing they have of value (their labour) for that FIAT, debt is all there is.

The illusion that their pensions, savings, investments ect are "real" money is only maintained so long as no more than a tiny fraction of them try to redeem it at any given time. The "money" of the frugal is no more "real" than the debt of the profligate. This becomes only too apparent when the shit hits the fan, economically speaking. At which point, the truth is revealed.

For those who are a part of the FIAT economy and have no means of economically existing outside of it, no-one is safe.

No-one is saved.

Edited by tallguy

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  • 311 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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