More on our "Recovery For The Rich"

The more I read, the more frightened I become.

The truth appears to be, NO ONE gives a damn about us poor, or old people. As we dip more and more into our "nest eggs" (what a joke!), all they can talk about is cutting back any and all programs we have come to rely on -- social security and medicare are on the block, etc. People have been convinced, by the liars called "Republicans", there will be no help for them when they get old -- so, they don't give a damn if mom and dad starve to death today.

We are done. We have bought the "winners and losers" line from the super rich hook, line, and sinker.

There is more. Here's a little from "Financial Armageddon" (please follow link to original)
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Badly Summed Up

Three reports sum up just where things stand nowadays: people are "desperately afraid," "can't afford to live," and are dipping "deeper into their savings than at any point in the past six decades."

"Recession 'Not Over' on Main Street Amid Job Losses, Fear" (International Business Times)

Job losses and fear about what lies ahead persists on Main Street America, despite official pronouncements that the 'Great Recession' ended over a year ago, the head of a U.S. mayors group said this week. The group was in Washington to lobby President Obama and federal officials for billions of dollars in grants and investments.

"Despite what national economists are saying, the recession is not over for Main Street America," said Elizabeth Kautz, president of the U.S. Conference of Mayors, which represents more than 1,000 mayors from the largest U.S cities.

Kautz was joined by the Mayors of Los Angeles, Chicago, Philadelphia and others at a press conference in Washington on Thursday. Over 230 mayors are attending the group's annual conference.

"Every day, mayors hear from constituents who have lost their jobs and people who are desperately afraid of what lies ahead." she said. Kautz is the mayor of Burnsville, Minnesota.

"Economy Forces Many to Seek Food Assistance" (Beacon News)

While there are signs around of an improving economy, it has not caught up with the unemployed and under-employed in Kane, Kendall, DuPage and other Chicago collar counties.

The past two years have shown a steadily increasing demand — in some cases almost alarming — for help to feed families, both at area food pantries and in requests for food assistance from the state.

Perhaps the most amazing raw numbers come from Kendall County, where the number of people served at the Kendall County Food Pantry in Yorkville has increased a whopping 303 percent from 2008.

In raw numbers, that is an increase from 2,208 people served in December 2008, to 6,700 served in December 2010.

“It blows my mind what’s going on out there,” said Maria Spaeth, Kendall Food Pantry director. “They just can’t afford to live.”

"Number of the Week: Americans Dipping Into Savings" (Real Time Economics)

$311 billion: The net amount US consumers have withdrawn from savings and investment accounts over the past two years.

In the course of the recession and recovery, Americans have dipped deeper into their savings than at any point in the past six decades. That’s helping the economy now, but could leave it less prepared to withstand shocks in the future.

Over the two years ending September 2010, Americans withdrew a net $311 billion — or about 1.4% of their disposable income — from their savings and investment accounts, according to the Federal Reserve. That’s a sharp divergence from the previous 57 years, during which they never made a net quarterly withdrawal. Rather, they added an average of 12% of disposable income to their holdings of financial assets — including bank accounts, money-market funds, stocks, bonds and other investments — each year.

Again, I say: What a recovery!