The global economy falls like a house of cards and the media marches out their best experts to give advice to calm the public. All talks are ten second sound bites that sound like headlines, refusing to go into depth about the multitude of problems. Read that as “Let’s not tell the whole truth or we millionaire experts will lose more of our money!” So, they deliver meaningless baby food to the masses.
After all, those millionaire experts are dependent upon those masses called the middle class to keep their money in the stock market via pension plans. The middle class makes up about 70% of the American economy and the millionaire class has screwed them over so badly that the middle class is going to the poorhouse, ending their ability to prop up the economy and fill the millionaires’ stingy fat wallets.
Photo by Simon Davison at flickr
Let’s give a listen to some of their advice:
Advice: Financial planners advise to save at least 3 – 6 months worth of your expenses, especially your house note, just in case of job loss. They are still giving the same advice as 30 years ago, regardless of the current state of the economy.
Response: You will probably be out of work from 12 – 18 months and when you finally do land a job it will be at 60% of your original pay. What are you supposed to do for the 12 month gap?
Photo by adobemac at flickr
Advice: Head hunters advise that you polish up your résumé. Make sure, they say, to talk to all your friends and business network you have built up over the years of your career. We all know that it helps to get your foot in the door with someone on the inside recommending you for that interview.
Response: Make sure you talk to all your business friends because they too are out of work or on the edge of getting dumped since their company just got bought out. Maybe you guys can put something together and create a job for at least one of you. Now that’s team work!
All smiles
Advice: Mental health experts agree that you should keep your attitude up, sweetly nice and positive. Prospective employers only want to see a happy face in that job interview.
Response: Talk to all your friends; they are miserable right now. Proverb: Misery loves company.
House on fire
Advice: Financial planners sternly lecture to pay off all your credit cards. When the economy tanks it is a really good idea to lower your money going out of the household. Then, they claim, you will be sitting pretty and be able to weather the economic storm until things turn around in a few months.
Response: The average person has about $2,000 in savings and $15,000 in credit card debt. How is a middle class person supposed to pay off $15,000 with only $2,000? Is this the new math?
Fact: People are paying for their groceries, fuel for the car and energy bills to run their houses on those credit cards. Also, for college expenses as the loans have dwindled. Oh, did I mention the middle class uses their credit cards for living expenses when out of work for longer than those six months of savings you recommended? Credit cards are the new GAP insurance.
Of course, if you are late on just one credit card payment they all jump on the band wagon with the new law their lobbyists put into place and the 10% interest rate jumps up to the excessive high of 30% for the duration of paying off that balance.
“An economy hampered by restrictive tax rates will never produce enough revenue to balance the budget – just as it will never produce enough jobs or enough profits.” – President John F. Kennedy (in office 1961 – 1963)
Life Imitating Art– Curty Cartier: Photo by Denny Lyon
Advice: Accountants suggest it might be prudent to sell our pets. They think this should be self-explanatory as pets do not contribute income but rather are a liability expense on the ledger.
Response: Let’s see
· at about $100 per cat to get their shots every year times 4 cats = $400
· then there are the expenses for high end cat food for their sensitive tummies, glossy coats and pearly white teeth = about $300 per year
· kill-the-smell-cat litter and additional cheap baking soda for extra enhancement = about $200 a year
· reflecting cat collars when your cat sneaks out at night to go carousing with friends; you want to be able to spot him running down the street at 3 AM (very frugal when you combine with a pull-away collar)
