In the News (from CNN): “Record 31.8 million on food stamps” A record 31.8 million Americans received food stamps at the latest count, an increase of 700,000 people in one month with the United States in recession, government figures showed Thursday.
In the News (from Zogby Interactive): “Zogby Poll: 70% Have Cut Back On Entertainment Due to Weak Economy” Survey finds 39% have pared down vacation plans, 40% have put off major purchases, and 40% have cut grocery spending, with 70% saying they have cut back on entertainment, recreation and eating out. It isn’t just taking place in poorer households, but also with around 70% of those with more than $100,000 in household income.
My Comment: The same thing is happening in the entire world. Of course, this exacerbates the crisis, yet this is exactly what will accelerate people’s recognition of the crisis, making them realize that it is a crisis of society, not just economy.