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alstry (35.69)

Actually..The World Becoming Alstry

Recs

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February 21, 2010 – Comments (1)

Let's repeat the story from the NY Times obtained from CRisk:

Even as the American economy shows tentative signs of a rebound, the human toll of the recession continues to mount, with millions of Americans remaining out of work, out of savings and nearing the end of their unemployment benefits.

Economists fear that the nascent recovery will leave more people behind than in past recessions, failing to create jobs in sufficient numbers to absorb the record-setting ranks of the long-term unemployed.

Call them the new poor: people long accustomed to the comforts of middle-class life who are now relying on public assistance for the first time in their lives — potentially for years to come.

Yet the social safety net is already showing severe strains. Roughly 2.7 million jobless people will lose their unemployment check before the end of April unless Congress approves the Obama administration’s proposal to extend the payments, according to the Labor Department.

http://www.nytimes.com/2010/02/21/business/economy/21unemployed.html

The money is simply running out as we bridge from the Industrial Age into the Digital Age.  In the Digital Age we simply don't need as many jobs as we enter this period of greater efficicency. 

Sometimes when you become too efficient, there is not much for people to do.........at least not much that they can earn a living at.......

This is undoubtedly unfolding into The Greatest Finaicial and Social Crisis in World History......how it proceeds forward from here will be anyone's guess.

 Here is a snipit from Mish's blog on Spain:

Hello Mish

How are you? It never rains in southern Spain, it pours. We have had so much rain lately. Here are some odds and ends from Spain.

Eurostat Data for Nov. 2009 - youth unemployment (under 25) in Spain almost 44%. I don't believe it's any better since then.

http://globaleconomicanalysis.blogspot.com/

England is not doing much better....

 Lending to British businesses falls at record pace

Any thoughts about Portugal, Greece, Dubai, Latvia, Iceland, Italy, Japan, Russia, Bulgaria, France, China....China tightens bank lending rules

Again....it is not the end of the world....just a radical change to almost everything in the world we presently live and function within.

1 Comments – Post Your Own

#1) On February 21, 2010 at 3:00 PM, alstry (35.69) wrote:

1/3 of Homes Vacant

DETROIT, Mich. -- A survey that's expected to be an important tool as Detroit works to revitalize core neighborhoods and possibly shutter others finds about one third of residential lots are vacant or contain abandoned homes.

The Detroit Data Collaborative on Saturday released the results of the block-by-block survey of Detroit's about 343,850 residential parcels.

It found about 64 percent contained occupied housing.

http://www.clickondetroit.com/news/22623881/detail.html

Detroit is simply the largest and most visible example of a city that is decaying from exiting the industrial age as we move toward the digital age.  Now Kansas City is potentially closing half its public schools.....there are hundreds of cities around the nation in a similar situation as primary industrial employers shut down or move overseas.

The problem, for the time being, is that there are very few jobs around the nation that can absorb this population....as a matter of fact, once vibrant communities in the South and West are quickly learning that they too were not structured for the Digital Age.

Expect many more cities to succomb to Zombulation as we move forward.....and ask yourself....what is a house really worth when most of the homes around you are vacant?

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