From DSNews we get this encouraging tidbit:
And by “encouraging,” I mean that the last thirty years of insane financialization and ridiculous consumption is making itself evident everywhere you turn. While the use of “homeless” in the article is a touch misleading, it still paints a pretty yucky picture:
One in three Americans would be unable to make their mortgage or rent payment beyond one month if they lost their job, according to the results of a national survey taken in mid-September.
Despite being more affluent, the poll found that even those with higher annual household incomes indicate they are not guaranteed to make their next housing payment if they lost their source of income. Ten percent of survey respondents earning $100K or more a year say they would immediately miss a payment.
Sixty-one percent of those surveyed said if they were handed a pink slip, they would not be able to continue to make their mortgage or rent payment longer than five months.
Chalk this up to too many folks borrowing for (or against) homes they couldn’t really afford, and it logically follows that these same households couldn’t build up savings even if they wanted to do so. Throw a dead-weight economy on top of it, and you have the makings of a mighty tenuous situation for a lot of Americans.