London School of Hygiene and Tropical Medicine in London and the University of Oxford examined economic downturns over the past 30 years and concluded that when unemployment rose by 3%, there was a corresponding increase of 4.5% in the number of suicides among people under 65. The medical journal the Lancet, concluded that people who lose their jobs during a rescission are at greater risk of suicide – and that for the least well-educated, the risks are even higher.
In a recent post here on this blog we discovered through the comments, that working people are paying the real price when an economic crisis descends; like a 'Bat from Hell' bringing a plague on all our homes. We have seen and heard much about those amongst us; who have lost homes, jobs and much more bedsides. But lets just consider the plight of our fellow workers in the US where millions have lost their homes and this comment that was posted on this blog two days ago:
"A record 2.82 million homes faced foreclosure foreclosed in 2009, according to RealtyTrac, a web-based firm that tracks and markets foreclosed homes. It is anticipated that at least 3 million more homes will enter foreclosure in 2010.
Last year saw an increase of 21 percent in the number of homes in foreclosure from 2008, in spite of President Barack Obama’s much-vaunted “housing rescue.” In all, 1 in 45 US homes was subject to at least one foreclosure filing, or 2.21 percent of all homes, compared with 1.84 percent in 2008, 1.03 percent in 2007, and 0.58 percent in 2006, according to RealtyTrac’s “Year-End 2009 Foreclosure Market Report.” The report compiles the number of separate homes that received default notices, faced foreclosure auctions, or were repossessed by banks."
The latest foreclosure statistics are indisputable proof that President Obama’s “Making Home Affordable Act,” launched in March, has done nothing to lessen the housing crisis. The $75 billion program offered banks rich incentives to renegotiate payment plans, but ruled out reductions in mortgage principal, or outstanding loan balances. The banks refuse to take any loss on these vastly overvalued loans, and worst still 7 million properties are all going to go back to the banks, and lets face it they always knew that one day they would come to them, as they do time and again, changing hands many times over.
If I were an alien looking in on Earth, and seeing the many being forced to pitch tents up alongside rivers or in parks all over America. I think I would soon come to the conclusion very quickly that this planet and its inharmonious inhabitants are a bit crazy the way they run things, and I'd leave some crop circles and then get the hell out of it!
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