Welcome Fellow Hobos

by Avenger on March 16, 2009

Are you over 50? Or close? Did you know you were finished? Do you feel like punching someone? Yeah, well so do I. [more…]

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Young and Old Alike – Equally Screwed

by Avenger on June 1, 2010

It’s just not older people who’ve been screwed by the recession and the banks and bankers and financial geniuses who caused it.

Prospects for college grads really stink and it’s a lot worse if you’re in deep deep debt when you graduate.

Here’s a story in the New York Times about a young woman who owes close to $100,000 in student loans.

Ms. Munna understands this tough love, buck up, buckle-down advice. But she also badly wants to call a do-over on the last decade. “I don’t want to spend the rest of my life slaving away to pay for an education I got for four years and would happily give back,” she said. “It feels wrong to me.”

Apparently it’s a pretty common story, kids with huge debts working crap jobs. And of course, it feels wrong. Her Mom’s partly to blame. Her Mom was blinded by the big name school, too proud of her daughter, and complicit in letting her run up the debt. But there are lots of parents like that. My son goes to Yale. My daughter goes to Harvard.

So what? Who cares? Save the money and send them to a state school.

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Could the Recession Last Forever?

by Avenger on February 21, 2010

Once you’ve been laid off awhile and then get back in, you kind of forget how it feels, but if I were unemployed, this article in the New York Times would really scare me. Are things really different this time? Is this the recession that never ends?

Of course, it has ended in a sense, but now the damage has to reverse itself and that’s the part that seems like it just might not happen. According to the article:

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.

Older people without in-demand skills are clearly very vulnerable. Already more people have been unemployed for 6 months or longer than at any time since the government started tracking these things, there are many forces at work to keep it that way, and social services all over the nation are straining under the pressure.

I feel almost helpless trying to see some way we’ll get out of this and glad that at least for the moment I have a job.

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Baaaa

by Avenger on November 11, 2009

Unemployment is over 10%. There is no real end in site. And yet, there is no outcry? Who put everyone to sleep and how did they manage it? Baaaa. Baaaaa. Baaaaa.

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The Health Insurance Companies are Against Reform

by Avenger on October 14, 2009

The health insurance companies are coming out strong against Obama now. This can only me one thing.

He’s doing something right.

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Getting Better?

by Avenger on October 6, 2009

The idea that things are getting better seems to be based on the fact that things are getting miserable more slowly now, or that the increase in misery has turned from a downpour to a drizzle, but it’s still coming down.

For instance, according to this article in the New York Times, Joblessness increased last month by “263,000 jobs in September, and the unemployment rate edged up to 9.8 percent from 9.7 percent in August, according to the Labor Department’s monthly snapshot of the employment picture.”

So the actual unemployment rate is still going up, people are still losing their jobs, and in no real way is the recession over as far as how actual people are experiencing it.

Can anyone call this good news?

Though the job market worsened, the pace of deterioration remained markedly slower than during the early months of the year, when roughly 700,000 jobs a month were disappearing. That improvement seems consistent with the widespread belief that the recession has given way to economic growth. Yet the report also buttressed fears that economic expansion would be weak and hesitant, with scarce paychecks and economic anxiety remaining prominent features of American life well into next year.

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I hear the recession’s over, but…

by Avenger on September 19, 2009

Unemployment in Michigan is 15.2 percent. Unemployment in Detroit is 17.3 percent.

Nevada – 13.2. Rhode Island – 12.8.

And at 12.2 percent, California has its highest unemployment rate in 70 years.

Unemployment is still rising.

Here’s Detroit for you. Wasteland.

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OMG – Final Notice of Rate Increase

by Avenger on September 16, 2009

Phew. Thank God for the good guys. I just received a very frightening bit of mail. In big bold red letters the official looking envelope said, “FINAL NOTICE OF RATE INCREASE.” And beneath that in smaller big type it said, “RE: COLDWELL BANKER MTG.”

I’ll tell you. I tore that letter right open. This could only mean one thing. My mortgage rate was going up for some strange reason. Those scoundrels. And with no warning whatsoever from Coldwell Banker Mortgage.

Inside I found a letter from the FUNDING DEPARTMENT. There was a special code number and a big round emblem, or seal or something very official, all red, white, and blue and surrounding an eagle clutching two American flags in his hands. And the letter itself began, “Dear Mr. Avenger, Your rate and payment may be adjusting soon.”

But then the letter got strange and confusing. My rate wasn’t about to go up. In fact, it wasn’t about to adjust at all, unless I wanted it to, in which case all I had to do was call John Paul at Mortgage Source, LLC, and he would help me adjust my rate downward. That’s right, downward!!!

What a great surprise. It was a sort of nice trick to delight me. All I have to do is refinance with this fine honest American fellow and my rate won’t go up, it will actually go down.

Isn’t it great to know that in times like these with all the greed and dishonesty in the world and so many people out of work and my own financial well-being so constantly imperiled, that John Paul at Mortgage Source, LLC has taken it upon himself to let me know that he can save me money by sending out this one final notice before it’s too late to take advantage of his kindness?

Now I’m sure the cynics out there might consider this a dirty, sleazy trick, and that the Final Notice and all that was a cheap ploy to get me to open the envelope, and I’m sure some people might think that John Paul and people like him are scumbags who will use whatever dirty tactics are necessary to make a buck while not actually offering much in the way of a service and that this sort of dishonest greed is one of the reasons we’re in the fix we’re in, but how else is a good hard working honest American like John Paul at Mortgage, LLC going to get people like me to open the envelope so that he can explain how much he honestly wants to help us?

Sometimes you’ve got to embrace a  little sleaze to help your fellow man. And kindhearted honest fellows like John are more than happy to absolutely swim it. For the good us all. And we owe them great thanks for helping to make America what it is today.

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A Tub of Lard and 10% Unemployed

by Avenger on September 15, 2009

The tub of lard known as Albert Haynesworth began his $100 million dollar career with the Redskins inauspiciously on Sunday, but I’m sure he’ll prove himself well worth the hundred million when all is said and done. And besides only $41 million is guaranteed.

Dan Snyder’s no dummy. Although he has found it probably harder than he expected to buy the Superbowl, he’ll keep shelling out the bucks and eventually he’ll bring home the trophy, and then it will all be worth it.

Anyway, for those of us who aren’t Washington Redskins, or Dan Snyder, things aren’t all that great. Here’s a summary of the devastation.  It’s hard to know where to begin quoting, so here’s a big hunk by Bob Herbert in the New York Times.

Consider this: Some 9.4 million new jobs would have to be created to get us back to the level of employment at the time that the recession began in December 2007. But last month, we lost 216,000 jobs. If the recession technically ends soon and we get to a point where some modest number of jobs are created — say, 100,000 or 150,000 a month — the politicians and the business commentators will celebrate like it’s New Year’s.

And:

But think about how puny that level of job creation really is in an environment that needs nearly 10 million jobs just to get us back to the lean years of the George W. Bush administration.

A national survey of jobless workers by a pair of professors at Rutgers University shows just how traumatized the work force has become in this downturn. Two-thirds of respondents said that they had become depressed. More than half said it was the first time they had ever lost a job, and 80 percent said there was little or no chance that they would be able to get their jobs back when the economy improves.

The 1,200 respondents were jobless at some point over the past year, and most — 894 — are still unemployed. More than half said that they had been forced to borrow money from friends or relatives, and a quarter have missed their mortgage or rent payments.

The survey found that affluent, well-educated workers, who had traditionally been able to withstand a downturn in reasonably good shape, were being hit hard this time around.

The professors, Carl Van Horn and Cliff Zukin, described that phenomenon as “a metric of the recession’s seismic impact.” Of the workers who found themselves unemployed for the first time, more than one in four had been earning $75,000 or more annually.

“This is not your ordinary dip in the business cycle,” said Mr. Van Horn. “Americans believe that this is the Katrina of recessions. Folks are on their rooftops without a boat.”

Stunned by the financial and psychological toll of the recession, and seeing little in the way of hopeful signs on the employment landscape, many of the surveyed workers showed signs of discouragement. Three-fifths said that they had experienced feelings of helplessness.

Said one respondent: “I’ve always worked, so this is very depressing. At age 60, I never believed I would be unemployed unless I chose to be.”

Said another: “I fear for my family and my future. We are about to be evicted, and bills are piling. We have sold everything we possibly can to maintain, and are going under with little hope of anything.”

At some point the unemployment crisis in America will have to be confronted head-on. Poverty rates are increasing. Tax revenues are plunging. State and local governments are in a terrible fiscal bind. Unemployment benefits for many are running out. Families are doubling up, and the number of homeless children is rising.

It’s eerie to me how little attention this crisis is receiving. The poor seem to be completely out of the picture.

Yep, but Albert Haynesworth is doing well, and to be fair, he’s no greedier than any other star professional athlete. They and their sleazy agents live in an alternate reality of pure, pathetic, and shameless greed. And we love them anyway.

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But Who Do We Beat Up?

by Avenger on September 7, 2009

Someone was telling me the other day that we brought all this on ourselves. We became fat people driving giant cars into giant houses, encouraged by our leaders to consume and spend and waste like we truly owned the world and owed nothing to no one because we were the chosen people.

We became the living embodiment of the things people in other countries liked to think about us when they wanted to hate us. We grew into the nasty stereotype of the spoiled and ugly American, and now we’re getting what we deserve.

But I didn’t actually do what my friend was accusing us all of doing. I know my kids didn’t. I know most of my friends didn’t. My parents sure didn’t. We all lived relatively modest lives.

I’ll agree that a lot of people became selfish and careless and unthinking, but it wasn’t malicious. I suppose we should all accept some of the blame, but I also believe there are villains, you know, truly evil people who actually deserve to be held responsible.

Oh sure, we ran up our credit cards, but we weren’t concocting dirty financial schemes to get rich at any cost. No. There are real villains out there, and I would like a list of names, so we could all know who to beat up.

I think older people in particular have a right to know who to beat up. Then I think the government should assign special military personnel to beat these people up for us, or to deliver them to us and hold them down while we do the beating up ourselves.

Here’s a particularly annoying article sure to rouse your beat-up-a-banker spirits. It’s in the AARP Bulletin. Let me quote from it at length.

In February, the stock market was down nearly 45 percent from its October 2007 high point, a $7 trillion loss in value—$5 trillion of that loss absorbed by those over 50. Housing values are down 20 percent, with most losses again borne by those over 50. In the past 16 months, the economy has trimmed more than 5 million jobs, and the unemployment rate among workers over 55 has more than doubled to 6.2 percent.

Then there’s the secondary impact—the “rebound effect.” It has three components: Older Americans have less time to recover their lost savings; they’re having to delay retirement; and they’re finding it harder to get rehired if they’ve lost a job, in part because of the difficulty of persuading businesses to hire older workers.

No wonder we’re angry, especially after the huge bonuses paid to creative speculators whose handiwork undermined the global economy, and the trillion-dollar bailouts given to a financial industry whose greed has ravaged retirement savings.

You could say these people stole money from us, but what they really stole was life. Working five more years of your last 20 because some banker needed to make a hundred million a year instead of 50 million is a terrible thing.

Let’s find them. Let’s squeeze it out of them. I want names.

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Happy Labor Day

by Avenger on September 7, 2009

You’ll be happy to know things could be worse. For instance, unemployment is only 9.7%, but in September of ’82, it was actually 10.1%.

I can hardly remember that, and it didn’t matter because I had just implemented brilliant recession survival plan B. In other words, I was in the army and just about to arrive in Germany for 3 years of wine, beer, and travel. Munich, London, Paris, Vienna, Amsterdam, Venice, Rome, and countless small towns all over Germany, England and France.

Oh, yeah, plus I had to fix electronics for the army and salute idiots, and the Soviets had nuclear missiles pointed at the building where I worked, but it was a small price to pay. It was fun, actually, knowing that when all hell broke loose you’d be dead twenty minutes before everyone else.

I was in my twenties, the cold war was fascinating, the enemy was complex, ruthless, and infuriating, but no one blew anyone else up, the future seemed somehow vast and inviting, as long as the nukes stayed put, and yes, the world did recover, the wall came down, dictators fell, economies boomed, and life got good for awhile.

It could happen again, right, sorta?

Granted, Iraq, Afghanistan, and the Great Recession don’t have much romance in them, but if they’d take me at this age and send me with my family to Europe for three years, I do believe I’d sign up again.

Sergeant White, 55-years-old. Driving the autobahns again, only this time with my daughters. “See this wall, Anna, it was built by the Romans a couple thousand years ago.” If only.

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So Who’s the Tough Guy?

by Avenger on August 18, 2009

Arlen Specter will be 80 shortly. He looks frail. He’s skinny, wrinkled, rumpled and balding with incision marks on his scalp, and the curly black hair he had when I was a kid is long gone. He’s older than my father.

thinarlen

He’s had two brain tumors, two bouts with Hodgkin’s disease, and cardiac bypass surgery. Once, as described in this great article in the Washington Post, after a doctor discovered a tumor “the size of a golf ball” between Specter’s brain and his skull, the doctor told him he had three to six weeks to live.

That was in 1993. He had the Hodgkin’s in 2005 and 2008. In other words, just yesterday.

Here’s a photo of a much younger, stronger man shouting in his face just a few days ago.

manshoutsinSpectersface

Here he is preparing for a town hall meeting in Pennsylvania, where’s he’s Senator.

For two minutes, Specter stood in silence and stared out a window into a scrubby back lot. He scanned over his notes on an index card, fiddled with the hearing aid in his right ear and said, “It’s showtime.”

Whether he turned the volume up or down, he still had to confront seething constituents face-to-face and stay true to the flinty, unflinching persona that has made him such a fixture in Keystone State politics. And knowing that this summer’s heat had more than the usual dangers, Specter asked the officers whether the audience had been cleared through metal detectors. The answer: No. Specter paused. For a moment, he processed the implications, with a hint of concern in his eyes. Then he clapped his hands together and shuffled slowly down an empty corridor toward the rowdy hall. Any fear fled from his face as he grabbed a microphone and entered the fray.

“Booo! Booo!” some attendees screamed.

So the old man walks out and faces big burly shouting men who stand two feet away and scream and point in his face. He faces angry crowds who come out just so they can berate him and take out their rage with whatever it is they’re all so constantly enraged about.

No metal detectors? Hmmm. A hint of concern. And then it’s show time.

Specter is 79. He’s a Democrat now.

And I’m sure the big brave hero who shouted in his face, and all those people who raucously cheered him for standing up to the old man who’d survived brain tumors, heart surgery, and cancer, are not.

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Don’t Blow that Interview

by Avenger on August 9, 2009

Tired of video of morons shouting at congressman about health care? Maybe this will cheer you up. And you just can’t beat the advice. I mean, it’s not really advice, it’s more of a what not to do sort of thing. I’d hire these people before I’d hire the people in the town hall video.

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Health Care Reform Explained

by Avenger on August 9, 2009

Here’s a good explanation of what health care reform could mean to each of us. It’s a nice clean rational explanation. Needless to say it wasn’t written by a Republican.

The idea isn’t to implement socialism, to strip people of the good care they have now, or to put the government in charge. It’s not sinister. It’s not evil. It’s just an attempt to control costs and help people. But try explaining that to the people who think the President was born on one of the moons of Saturn.

Ooh, and I notice they’ve taken to calling themselves the counter insurgency. How impressive.

Here’s some shouting in Green Bay. Not the most attractive group of people. I wonder how many will turn down their medicare.

It’s always interesting, if not exactly fun, to watch humanity at its worst.

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The Law on Targeting Older Workers

by Avenger on August 9, 2009

Here’s a succinct article in the AARP bulletin on the illegality of targeting older workers for layoffs. Apparently Seagate, the hard drive maker, was “pressuring older workers to retire and firing older workers who refused.”

They were also “transferring duties and jobs from older workers to younger replacements or hiring younger workers shortly before and after firing older workers.” Since in many cases the workers were top performers, I’m assuming they were doing this to save money.

They didn’t exactly get away with it. According to the article there will be a full trial, and of course, they’re denying they did anything wrong.

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More Help from the Banks

July 31, 2009

Just because they caused the recession doesn’t mean the banks aren’t going to nickel and dime their victims to take advantage of it. According to the AARP bulletin, banks are happily allowing states to direct deposit your unemployment checks, and the banks are happily charging you fees to get at the money. This is done [...]

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