08 August 2011

What Ocean Is This?

Dear Reader,

If a rising ride lifts all boats, an ebbing tide should lower all boats. But despite a very ragged economic week it seems that the larger boats are still afloat while the smaller ones are swamped and tipping.

The trouble with analogies is that they rarely work under all circumstances. Yes, we 'recovered' from the Great Recession, technically, but most of that recovery landed on those who were already employed (including me) and those with abundant resources beyond employment (less true of me).

Such an uneven, lopsided recovery meant that when the tide went out again, as it has done this past week, it turns out we actually had two oceans - one for big boats and another for small ones. The big boats were in a deeper ocean; they dipped but did not go aground. The smaller ones were in the shallower ocean; when the tide fled again they landed on the mudflats.

The cost for the latest market contraction will mean more unemployment. True, those who have much will lose much, but it is unlikely they will lose it all. For those, however, whose $30k job is all they have, losing a job means losing everything. The good news, as only a cynic would call it, is that they won't be lonely.

At some point, if nothing changes for a while, the folks in the smaller boats will climb onto the big boats. They will not be "asking" for help.

So you guys in the big boats, think hard about what would be worse: sharing the tide, or losing the boat.

1 comment:

Elisa (Nudelman) Winter said...

But this is all planned, dear. When we start climbing on to the bigger boats, without asking permission of course, then the gunners on the bigger boats have a legitimate excuse to start firing on us. Then come the curfews, then the calling out of the National Guard, then the president (probably not this one) proclaiming martial law or emergency powers or whatever it's called. This is planned to consolidate more and more power at the top. I truly, honestly, deeply believe this.