Posts Tagged ‘over 50’

Here Comes the “D” Word Again: Depression

Not since the Collapse of 2008 has the “D” word – Depression – been used this much in the media. The bank bailout and credit bailout and the stimulus money all served to bring us back from the dead, and by mid-2009 the “D” word had all but disappeared, replaced by the Great Recession.

image of Great DepressionBut now, after two years of entrenched long-term joblessness, housing prices at their lowest since the 1930s, and other signs of weakening, the “D” word is back. “Is the U.S. headed for another Great Depression?” Canada’s Globe and Mail asks. Just a week ago, a CNN poll revealed that nearly half of all Americans fear we are headed for another Great Depression in the next year. And in The New Republic, economist Dean Baker argued “disaster not averted” in his article, “The Latest Jobs Numbers and the Very Real Chance of Another Great Depression.”

For the jobless – especially those over 50 – it’s been a Great Depression all along.

New Story: “What’s a Fiftysomething to Do?”

In More Stories, Bianca L. tells hers. Bianca has been self-employed most of her life. Now she finds herself underemployed, probably for the long term, because the economy has decimated both her new wellness consulting clientele and her high-paying “fallback” market. “I immediately got it that I may never get another job.” Read her whole story. 

image of money

Recession Stories in the Media and the Web

Found these interesting – some also useful – collections of recession stories in the media and on the Web. What’s amazing is how much these stories have in common, across all ages, races, regions, and classes. Jobless is jobless is jobless.

Kathryn Balles from Over 50 and Out of Work on Vimeo.

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