American Economy-Whether the great depression has created many poors?
American Economy: Are the people becoming poor?
I am shocked on reading a report published in a Kannada daily in India. That report is the abridged form of one published in ‘The New York Times’. I am publishing this hub based on certain points in that article to know whether it is actually true or not. It deals with the after effects of great depression in American economy.
It is said that the Economic recession in America has affected many people in a pitiable manner .Lakhs of people have come to streets in the past two years.60 lacks of people in America virtually have no income at all, as a result of this recession. Of these, children alone count to 12 lakhs. That means, in some states, one out of every 50 Americans is living in utterly poor standard. Their only source of livelihood is-the ‘food stamps’ ( of the value of $300 per month) .These food stamps can provide just food for the family. But what about other expenses? All these people are now jobless people. They have lost their jobs as their employers have closed down their establishments. These people are not having any insurance protection ,unemployment allowance or childcare allowances etc.Till economic recovery, the situation-it seems,should inevitably continue.
This is the condition in some of the states in USA.
It is said in Florida, that the number of people who have nothing except food stamps, has doubled in last two years .In Minnesota provience,it has increased by 90%.In Ven County area, which includes Detroit, everyone out of 25, dependes on food stamps..
It is said that, Florida state administration has done better efforts to take care of people who have no income at all.Food ration has been fecilitated here to the needy.
American government is giving food instead of giving cash with the only idea that , people may spend money for purposes other than purchasing food,But people everywhere need money for other expenses also.But they are not in a position to earn, eventhough they are ready to work.
The said report( the translated version doesn’t mentions the date of publication of original report) Quotes the instance of one lady by name Mrs. Isabella Bermudez( I’m not sure of the correctness of the spelling) who was the owner of famous ‘GULF COAST HOMES’ enterprise.She was very rich before recession and had employed many. But now, she herself is a poor lady and searching for job.! We donot know how many others are suffering like this!
I am very much upset by this report. We all had known that economic recession has costed employments of many, business shops are closed down, etc. But we had not known that it has sent so many people into such pitiable condition.It is said that such condition is in some parts of America only. May be; but even that is not an expected thing.
If it is real, I only wish this tough time to end soon.Let Economic recovery come faster, and people get apeaceful life!
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