Community | March 15, 2009 | 5 comments

America Faces New Depression Misery as Financial Crisis Worsens

source: http://www.timesonline.co.uk/tol/news/world/us_and_americas/article5898195.ece

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Ihatethemall
By the wide stretch of the American River in Sacramento, history is repeating itself. Here, during the Great Depression of the 1930s, men and women who had lost everything and despaired of finding work built rough shelters and huddled around fires.

Now the spiral of job losses and house repossessions has left another wave of Americans homeless, and a new tent city is growing rapidly on lumpy, derelict land between the river and the railway tracks here in the capital of California.

There are more than 300 people living in scattered encampments stretching a couple of miles along the river bank. As many as 50 more arrive each week. Unemployment in Sacramento reached 10.4 per cent in January and California is suffering some of the worst repossession rates in the country, with as many as 500 people losing their homes every day last year.

Charity workers in the city can no longer cope with the number of people coming to them for help. The shelters are full, with one home that caters for women and children turning away 200 people a night.
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5 comments // America Faces New Depression Misery as Financial Crisis Worsens

  • uppityprogressive
    • 0
      uppityprogressive  

    • I war would get us out, Iraq and Afganistan should have prevented this. It is a myth that war relieved the Great Republican Depression last time around. We don't need more killing to fix this, we need to take back the billions stolen from the people by the powerful greedy elite. Time for Eisenhower taxes of 91% for the richest Americans and a zero tolerance for poverty and violence.

      We can start by only trading with each other and leaving the evil corporations hungry. Feed your friends, trade with your neighbors, give to your community. Then, demand fair taxation of the rich, after all, they have had a 30 year tax holiday.

    • 2 years ago
  • billssqueeze
  • jawnybnsc
    • 0
      jawnybnsc  

    • And now Obama tells us that the fundamentals of the American Economy are strong. Where have we heard that before? This clown's tricycle is about to lose a wheel.

    • 2 years ago
  • 1percent
    • 0
      1percent  

    • And this is just the beginning...

      Just as in the Great Depression, I don't think anything done by Big Government will help your average citizen.

      The only thing to get US out of this self dug hole will be war.

      Historia est vitae magistra. (History is the tutor of life)

      Change is definitely coming...

      It's just not the change that some voted for...

      Brother, can you spare some change?

      Pareo Nullus

    • 2 years ago
  • bcorder03
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