Friday, June 28, 2013

Food stamp recipients burgeoning amidst "recovery"

The number of US food stamp recipients has been skyrocketing since the Great Recession of 2009, so steeply that the 2012 figure of 46.6 million (1.5X the entire population of Canada), almost doubles that of 2008. So much for the official announcements and mainstream media "reportage" of "economic recovery".

Without charging them with public deception, I'll mildly say that there is a great wall separating Wall Street and Main Street. For Wall-Streeters, so high up they couldn't see a food stamp with a telescope, the picture is undoubtedly rosy. With $85 billion of printed money flooding the bond and mortgage markets every month, no wonder they are floating on the hot air of Cloud 9. They cite the booming housing and car markets as an indicator of prosperity, without mentioning or even noting that the low interest rate is artificially sustained by the free Fed money. Media present declining unemployment rates, but non-participants in the job market, i.e. those who have given up looking for work, have been jettisoned from the equation, thus producing the lowered quotient.

But for Main-Streeters, they are so low down that hardly a drop from the nourishing rain from the top can filter down to their parch landscape.

Those who see the big picture realize that this incongruent dichotomy is yet another economic bubble in the making, this one even bigger than the one in 2008. All that is needed to deflate this bubble is for the Fed to slow down or eventually halt the paper money printing, aliases "stimulus" and "quantitative easing", which is the better of the two alternatives. The worse alternative is to keep on printing until the bubble bursts, and bursts huge. When either happens, Wall Street will plunge, and interest rates will soar, forcing another round of layoffs, closures, foreclosures and repos.

As for the poor and destitute, the food stamps will be inaccessible to some, if not become a thing of the past.

Anthony Marr, Founder and President
Heal Our Planet Earth (HOPE)
Global Anti-Hunting Coalition (GAHC)

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