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Nearly A Third Of Americans Say They Haven’t Recovered From The Recession

March 5, 2015

By huffington -excerpt

On Friday, the Labor Department is expected to release another round of encouraging numbers about the job market. Meanwhile, stocks are at record highs — in fact, the Nasdaq just reached a level last seen during the tech boom of 2000.

And yet, nearly one-third of Americans still haven’t recovered from the Great Recession.

Thirty percent of those surveyed in a study released by the Pew Research Center on Wednesday said that the recession had a major impact on their finances, and that their finances have not yet recovered. (About the same percentage said their finances had recovered from the recession.)… (more)

If you add the increasing costs of living in the Bay Area due to property values going through the roof, you have a pretty dire situation for many San Francisco residents. No wonder they are protesting the Monster in the Mission and gentrification at 16th and Mission. Many of the under-employed have found the time to educate themselves about the banking system and they are going after the Fed next.

One other discussion that we need to have is about the jobs that are being replaced by robots. KQED mentioned this recently on their weekend show, but a lot more needs to be said about the higher paying jobs that robots are eliminating: lawyers, nurses, billing services, accountants to name a few. The new tiny units will be perfect for the robots to live in. Not only do will their “owners” save on employee salaries and expenses, such as taxes and insurance, but, they will also need no food or bathroom facilities. Imagine how many billions of people can be replaced by these “cute critters” that even a child can command, with no back-talk.

 

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