Thursday, September 03, 2009
"Katrina of recessions"
NYT:A new study finds that the recession has left many jobless workers struggling to cope with the psychological stress caused by becoming unemployed in a weak economy.
...
"This is not your ordinary dip in the business cycle," said report co-author and Rutgers professor Carl Van Horn.
"Americans believe that this is the (Hurricane) Katrina of recessions. Folks are on their rooftops without a boat. The water is rising, and many see no way out."
Is this the worst economic disaster in the nation's history? If so, then it's the "Katrina of recessions". If not, then let's find some perspective. In either case, though, we can blame the jobless for living in a country that is prone to Great Recessions, and dismissively sniff that there was plenty of warning about a coming recession, and these people should've evacuated ahead of the downturn.
Some might even argue that it's
easier for the jobless to deal with recessions, since they no longer have a job to worry about losing.
Labels: Dismal Science, Federal Flood
10 comments
DiggIt!
Del.icio.us
10 Comments:
So these metaphorical Americans on their rooftops could certainly use Ahab's Pequod right about now.
Precisely!
so Katrina is the worst disaster ever, in the history of America? I will grant you that it was bad but and may indeed be up near the top. I am in now way trying to make light of the disaster but I gotta think that the 1900 unnamed hurricane that went into Gavelston and killed at least 8,000 people and uncounted scores of blacks(uncounted cause they didnt matter at the time and were living outside the city limits) might have been a worse hurricane. Also the Earthquake and the resulting fires that literally leveled San Francisco in 1906 may have been a worse disaster as well. Notably the refugee camps for the city inhabitants were in operation for several years as well.
Anonymous @ 7:43 said: "1900 unnamed hurricane... might have been a worse "
I don't think anyone said the New Orleans floods were the worst 'natural' disaster. Ours was the worst 'man made' disaster - the WORST ENGINEERING CATASTROPHE IN THE HISTORY OF NORTH AMERICA.
I can see why you would be confused if you think our disaster was "natural".
CrescentCityRay
ok then since you seem to want to blame people the 1906 fires and devastation was caused and aided by men with dynamite trying to create fire breaks and instead starting more fires. and I think man made disasters I would put up any war by any two combatants except for the US/Fredonia action and perhaps the UK/Argentina action for worse man cause devastation. or the A-bombs as catastrophic engineering disasters
hay are there going to be any comments about Obama's comments to the kids on going back to school his little infomercial? I think that the Repubs are a bit hysterical over this but a better editing job could have been done the basic message was sound. and I am glad that they left out the writing assignment while I dont think that it is shades of the "Hitler Youth" as some repubs are saying it is a bit too much of the cult of personality idea. respect the office not the man?
I hope the bivalve makes some hay over this this is appropriate republican needling fodder
Now there may be an analogy between Corpse of Engineering's "quality" levee construction program and the SEC's etc "fine" regulation of the financial sector
Anon @4:10 said: "dynamite, wars, A-bombs"
read my lips:
the flooding in New Orleans was the WORST ENGINEERING CATASTROPHE IN THE HISTORY OF NORTH AMERICA.
Our flood in New Orleans, would not have happened but for the negligence of civil engineers employed by the US Army Corps of Engineers. Despite official levee failure reports, congressional testimony by Corps leadership and official decisions by federal judges, the engineering community, especially the USACE and the American Society of Civil Engineers would prefer the general public believe Katrina, an act of God, 'overwhelmed' our flood protection system.
If your concern is that I seek to place blame somewhere, what do you do when your car is legally parked and a drunk crashes into it at 70 miles per hour? Is it your fault for having your car parked in that particular spot?
Anon @4:10 said: "dynamite, wars, A-bombs"
read my lips:
the flooding in New Orleans was the WORST ENGINEERING CATASTROPHE IN THE HISTORY OF NORTH AMERICA.
Our flood in New Orleans, would not have happened but for the negligence of civil engineers employed by the US Army Corps of Engineers. Despite official levee failure reports, congressional testimony by Corps leadership and official decisions by federal judges, the engineering community, especially the USACE and the American Society of Civil Engineers would prefer the general public believe Katrina, an act of God, 'overwhelmed' our flood protection system.
If your concern is that I seek to place blame somewhere, what do you do when your car is legally parked and a drunk crashes into it at 70 miles per hour? Is it your fault for having your car parked in that particular spot? In such a situation, would you find it acceptable for people from all over telling you that you are to blame for parking in that legal spot and you should simply forget about it even though you had uninsured motorist coverage, but they totaled your car and that amount wasn't enough to replace the vehicle?
Then, people tell you your problem, after waiting four years for some kind of vindication or justice, these strangers are telling you that you will just have to get into the back of the line and shut up because now these strangers also have a problem?
Thanks for your empathy and understanding.
CrescentCityRay
Obviously Katrina wasn't the most lethal disaster ever, but in terms of overall damage/cost-- from rebuilding infrastructure and entire neighborhoods along the entire Gulf coast, to ruined flood protection and protective wetlands to acclerated mortality of the survivors to high oil prices-- it's a pretty formidable entry.
Point is, though, making comparisons of situations like the recession to Katrina belittles both the situation AND Katrina, enabling others to take both events less seriously.
