Sunday, February 3, 2008

The Boom Was a Bust For Ordinary People

Barbara Ehrenreich has been studying working people for years now. So, it's not surprising that she knows best what most of us knew already: a "properous economy" does not equal a better life for you and me. And the plight of the poor is sucking wealth from people who thought they had nothing to worry about. Can you say "sub-prime mortgage"? In my own city, some $600,000 houses have gone vacant because their occupants took out loans that made no sense. The line below tees it all of:

"For years now, that strange stimulus-crazed beast, the economy, has been going its own way, increasingly disconnected from the toils and troubles of ordinary Americans."

See the rest here.