Tuesday, March 22, 2011

This Is No Recession; It's A Depression

The beautifully warm spring weather disappeared giving way to high winds and threats of snow, a mere hiccup in the start of the summer weather.

Family members are still trying to retrieve the truck in Texas, and I feel more than helpless because I don't even have a vehicle I can go get it with. I don't even have a vehicle I can drive to Lubbock in. Both myself and my youngest daughter have stomach aches and a lousy migraines worrying about this truck and the cost to get it back. The only thing I seem capable of doing - is panicking.

The loan on her truck was declined, well, actually not declined. She was only offered $200, so she is now trying to secure a loan with her trailer. It will cost $1,000 to retrieve her truck.

Bill Dement recently wrote a letter to the editor that summed up my feelings pertaining to the economic situation we are facing. For people like myself who have already lost everything it adds salt into wounds for recovery is virtually impossible. Yesterday someone on-line, my own age, wrote," If I lost everything I would just start again." Oh, no she wouldn't. She has no idea the difficulties she would face. When the economy is good, when loans are easy to acquire, when circumstances are different ~ but not under the present circumstances.

This is no recession; it's a depression

To the editor: Posted: 03/17/2011 08:23:45 PM MDT

In response to the tongue-in-cheek editorial [Ruidoso News, March 9] that the recession is over and inflation is under control I would like to refer back to my letter to the editor in March 2010. I stated that we would be seeing Weimar Republic style hyperinflation and I mentioned that the PIIGS in Europe, whose economy had tanked under enormous debt loads would soon be here.

Is the government telling the truth about real inflation, unemployment or our real debt load? No. Real inflation started when Nixon took us off the gold standard in 1971. According to Jim Quinn, a leading economist if we factor in Fannie Mae and Freddie Mac which is a government obligation the true national debt of the U.S. Is $18.964 trillion and we have a debt level of 130 percent of GNP. If you do not factor in Freddie or Fannie you come up with a debt level of 90 percent of GNP.
If you look at data of 44 countries over 200 years and Zimbabwe, Argentina, and Weimar Germany come to mind, every country hitting 90 percent of GNP as a debt level has seen economic Armageddon; devalued currencies, and a reduced living standard. Some naysayers point out that during WWII the U.S. Reached a debt level of 120 percent of GNP. This is not 1945 and we are no longer a net manufacturing nation. We are simply consumers. As for unemployment, according to several economists the government's figure of 9 percent unemployment is perhaps 16 percent to a high of 22 percent that John William's Advertisement Quantcast Shadowstats espouses.

There are many people who are underemployed. This means they are not making their bills on their salary but they stopped looking for a better paying job. They may have had their hours cut. How many people in Lincoln County feel this way?
Other people stopped looking for work while they went to school in the hope that a graduate degree will help their job prospects. When we look at the spiraling upward household debt levels; credit card debt comes to mind, people are using credit cards to pay for soaring gas, food, and heating bills. They simply cannot make it on their salaries.

Until we demand that our government post the real facts and enter into serious discussions about the problems of the U.S. Economy there will be no fix in site. Let's stop the spin. This is no recession. It is a depression. This is not solely a Republican or Democratic issue, it affects every American.

Bill Dement

For people like Robert & Sylvi Huckins, who have stolen so much money they are well cushioned, they have a home, the economic situation won't even faze them. For their victims like myself.. left homeless and my career in ruins this is beyond anything I can even put into words.

I scrimp and save trying to come up with building supplies, I was so blessed that KEDU 102.3FM radio station and Alto Cafe were kind enough to raise some funds that was enough to buy an old single wide trailer and have it hauled in. I am frantically trying to find a way to pay a contractor a paycheck when I can't even earn a paycheck to do any other than keep my head above water. I think the judicial system should tell me how they expect me to do it on $450 a month.

I am simply lost at how to get this building and renovated started. Totally lost, and so frustrated.

Meanwhile the family of raccoon returned last night trying to demolish my belongings that are packed in boxes. If I didn't adore raccoons I may be sorely tempted to shoot them ~ but I'm a wildlife person. I simply love animals if they be wildlife, domestic animals or livestock. It perplexes me when human beings kill, just because they can.

Someone shot, killed and dressed a doe behind Alto Post Office and her head is now laid alongside the road. When people are willing to poach this close to residents it's a horrifying sign of sheer desperation. The economy is going to get a whole lot worse before it get's better and I, for one, am terrified that I can't get on my feet fast enough to survive it.

A good heart is better than all the heads in the world. ~ Edward Bulwer-Lytton