How much will homelessness rise? Grim study shows possible 'impact of doing nothing,' researchers say
A recession following the coronavirus pandemic could cause twice as much homelessness nationwide as the Great Recession did more than a decade ago, says a grim new study by Economic Roundtable, a Los Angeles research group. Using detailed data on unemployment and homelessness from L.A. County social services, authors of the study project that people at the "thin edge of the labor market" — restaurant employees, temporary workers, seasonal labor — are in particular danger of drifting into homelessness in the coming years as the economy recovers. Daniel Flaming, the president of Economic Roundta...
The Seattle Times
Poverty grows despite economic recovery
Even as average personal incomes rose during the pandemic largely because of government aid, millions of people who didn’t receive such help have fallen into poverty, struggling to pay for food and other basic expenses. That group, trying to get by with the help of local charities, may have been excluded from the federal payments because of immigration status, lack of time in the labor force needed to claim unemployment benefits, or just red tape in states that have been slow to pay jobless claims. The situation in the Houston area is particularly desperate, with almost half of residents strug...
How America's approach to poverty could change in a Biden administration, Congress willing
PHILADELPHIA — The safety net that stretches beneath Americans living in poverty will see more mending and less rending as presidents change.That’s the belief voiced by hunger fighters and other anti-poverty advocates who say they’re tired of endlessly “playing defense,” battling Trump administration efforts to slash vital programs such as food stamps, now known as SNAP, for the Supplemental Nutrition Assistance Program.“It’s more exciting when you’re pushing for what’s possible and not fighting off really horrible things,” said Kathy Fisher, policy director of the Greater Philadelphia Coaliti...
The Philadelphia Inquirer
Poverty stalks US middle class amid pandemic
Bethesda (United States) (AFP) - As the Covid-19 pandemic swept the United States, Keith managed to keep his job in financial services, but his income dried up as commissions grew scarce. Suddenly struggling financially, Keith began relying on meals handed out by a charity in Bethesda, a suburb of Washington known for the wealth of which the 52-year-old now finds himself bereft."We try to save what we can," Keith, well-dressed in a red-striped polo shirt, told AFP on condition of anonymity. "I don't want to take more resources than I need. If I don't have to come every week I won't."Eight mill...
Ten Great Songs of Wealth and Poverty, Happiness and Having “Enough!”
Ten Great Songs of Wealth and Poverty, Happiness and Having “Enough!”In his new book, “The Psychology of Money,” Morgan Housel relates a story told by the late, great Jack Bogle, founder of Vanguard Funds.Q3 2020 hedge fund letters, conferences and moreJack joined author Joseph Heller at a party in the palatial home of a hedge fund manager.This financial titan earned more money in a single day than Heller ever reaped from his classic, bestselling novel of men at war, “Catch-22.”Amidst the splendor of the evening Heller remarked that he could always have something their host never could:“Enough...