I don’t watch any TV, but I’ve heard that mainstream medias have been reporting on “The Economic Rebound” or some such nonsense all year. Stock markets are at an all time high, corporate profits are up. Are we rebounding? Should we stop prepping for an economic collapse?
I would argue no to both.
Who is rebounding? The top 10% maybe. Not the rest of us. Over the past decade the real net worth of the bottom 90 percent has dropped by one-fourth.
At this point, one out of every four American workers has a job that pays $10 an hour or less. That puts that wage earner’s family well below the poverty line. And don’t kid yourself that entry level employees are high schoolers. That’s no longer true.
Only 16 percent of fast food industry jobs now go to teens, down from 25 percent a decade ago.
And many of the older workers are educated. More than 42 percent of restaurant and fast-food employees over the age of 25 have at least some college education, including 753,000 with a bachelor’s degree or higher, according to the U.S. Bureau of Labor Statistics.
An all-time record 47.79 million Americans are now on food stamps. One out of every four children depend on food stamps. Worse than that, more than a million public school students in the United States are homeless. That number has risen by 57 percent since the 2006-2007 school year. That’s a lot of kids, living in garages, and parking ramps and cars and sewer tunnels and tent cities. That’s a lot of kids going hungry at the end of the month.
I prep for a lot of different reasons, but economic hardship is one of the largest and most immediate of those. I may never see a TEOTWAWKI event. But I have skated pretty close to the edge of broke and homeless. I have a sister who’s usually more homeless than not. Every can of corn in the basement is one more meal I can feed my kids in a worst case scenario. Every inch of garden is another bit of insurance against me having to chose who gets dinner. Every week we get a paycheck is another week I can save up some cash to see us through the next period with no paycheck.
Believe the media hype if you want, but I’m just not seeing it. How does it look where you are?
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