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Welcome To The Recovery - Two Out Of Five American Children Experience Poverty
Submitted by Mike Krieger via Liberty Blitzkrieg blog,
The last seven years of American history will be remembered for the unprecedented oligarch crime scene that it is. Branding what has occurred during the Obama administration an “economic recovery,” represents little more than a vicious assault on human intelligence.
I’ve spent a lot of time on these pages proving this to be the case, and have even dubbed it the “oligarch recovery”. Here’s the latest proof.
From the Wall Street Journal:
Childhood poverty is far more prevalent than annual figures suggest, a new paper says, with nearly two in every five U.S. children spending at least one year in poverty before they turn 18 years old.
The findings from Caroline Ratcliffe, a senior fellow at the Urban Institute, show particularly stark divides along racial lines. Black children fare much worse. Some 75% are poor at some point during their childhood, compared to 30% of white children.
Don’t worry, Obama will be on it as soon as he’s done bailing out Wall Street billionaires.
The Census Bureau is set to release its annual statistics next week on household incomes and poverty for 2014. Last year, the report showed that one in eight adults live below the poverty line, compared to one in five children.
We are sure President Obama will be happy to learn that around one in 10 children are persistently poor, meaning they have lived below the federal poverty level for at least half of their childhood. Here, too, the researchers find a huge racial split, with around 39% of black children that are in persistent poverty, compared to 4% of white children.
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HOFFMAN ESTATES, Ill., Sept. 10, 2015 /PRNewswire/ -- Today, Kmart announced two payment options to help make it easier for shoppers to get everything on their Christmas gift list by planning and budgeting early. No Money Down Layaway is returning for its second year, and for the first time, Kmart is introducing No Money Down Leasing.
The National Retail Federation found that more than 40 percent of Americans begin shopping for the holidays prior to October and of those, 60 percent shop early in order to spread their budgets*; that's why Kmart has launched No Money Down Layaway and Leasing well-ahead of the holidays to make it simple to budget and spend wisely.
"Yes, it's ridiculously early to talk about the holidays - and we're having fun with that fact in our new ad campaign, aptly titled 'Ridiculous' - but we know savvy Kmart shoppers are already making their Christmas lists, managing their budgets and looking for awesome options like No Money Down Layaway and Leasing to make it easier," said Kelly Cook, chief marketing officer, Kmart. "We know it's crazy to think snow, Santa and sleigh bells when there's still a sliver of summer fun to be had, but we're helping our members get a step ahead of the busy holiday season."
Both programs are available now through Sunday, Nov. 29 so that Thanksgiving Day and Black Friday shoppers can even take advantage of these payment options.
"Kmart and Sears are the only general merchandise retailers wherelayaway is available nationwide, both online and in-store with no minimum purchase, year-round," said Jai Holtz, vice president and general manager financial services, Sears Holdings. "Plus, we let our members put items from the categories they care about most on layaway - this includes toys and apparel. We work hard to make it ridiculously easy for our members to plan, shop and save at Kmart."
About No Money Down Layaway or Leasing
In addition***, Members get $10 off any Apparel, Footwear and Jewelry purchase of $50 or more on layaway. Offer valid in-store and online on new Layaway contracts from Aug. 30 through Sept. 9, 2015 and Oct. 4 through Oct 17, 2015. Members get $10 off any toys, sporting goods, home and appliance purchase of $50 or more on layaway or lease. Offer valid in-store and online on new layaway contracts from Sept. 20 through Oct. 3, 2015 and Oct. 18 through Oct. 31, 2015.
http://www.nasdaq.com/press-release/santas-helper-kmart-brings-back-no-m...
Next: The monetization of bundled K-Mart subprime leases and layaways.
Poverty rates by county . . .
https://img.washingtonpost.com/blogs/wonkblog/files/2014/12/Screen-Shot-...
That takes me back to sometime around 2005, when I heard the CFO of a large retailer saying their credit operation, store cards and co-branded VISA cards, were far more profitable than actually selling stuff. They didn't want to be a retailer at all; they'd rather be a bank. They even opened up their own bank in South Dakota, where there basically aren't any banking laws.
Of course, that all went "poof" in 2008. Sounds like they're back at it though.
That's what happens when finance goes from being a useful tool to augment the real economy to being the entire economy, having crowded out all actual productive activity.
eloquent, and astutely summarized.
GMAC Financing anyone? more money in loans than in cars.
F U Obama
LOL! The problem is way bigger than Obama. Or any President for that matter.
You have to start somewhere. Perhaps they could start at the Federal Reserve.
Federal reserve would be a great place to start...This is where most problems originate from...The other origination is a federal government that has grown so large it can dictate who are winners and losers in an economy. Bad shit.
Indeed.. much bigger than Obama.
How do you convince people who can barely make ends meet that procreation, given their current circumstances, would be a terrible idea?
How do you convince the same people that odds are stacked against a kid from the get-go when the kid is born out of wedlock?
Don't they get food stamps?
Sure, but they are promptly sold for 50 cents on the dollar so the cash can be used to by drugs. Had a visiting nurse friend tell me she saw it happen, and have read spots on people who are not on food stamps getting caught using them after having bought them.
My tax dollars yet again well spent by the gov. /sarc
What do you expect when you import poverty?
And pay people on welfare to have more children.
And continue funnel tax payer money into the queen of all welfare queens, U.S corporations.
Import 'em, Breed 'em...doesn't really matter. The point is to divide and conquer and wipe the middle class out. Once that is accomplished, the benevolent leaders can rule…for a while at least.
Or said another way, export jobs.
Thanks globalization, we've almost caught down to China, but not quite yet. I breathlessly await catching down to North Korea.
Chrome rims ain't free, sorry kid you gonna have to steal your bigwheel.
pods
Steal??? What you saying white boy? WE CAN RENT NOW!
Steal? How about murder? We had a kid murder another for his bicycle.
let them eat ebt
"Welcome To The Recovery - Four Out Of Five American Children Experience Poverty"
How that headline might well read in ten years.
"We won't stop until EVERY American child can experience at least one year in poverty".
-Barack Hussein Obama
The quote is apocryphal, the sentiment is not.
thats fine, the economy doesnt really need producers and consumers anymore anyway.
youre all on your own
we'll just be over here playing "money"
no poors allowed!
So accurate it hurts.
42% of children born today are bastard children .. a huge disadvantage .. mostly hispanic and black
in Japan, just 2% children born from unwed parants.
economics of broken families ..children suffer the most.
Black children fare much worse. Some 75% are poor at some point during their childhood, compared to 30% of white children.
They have to live below the poverty line so that they can receive welfare. Politicians buy votes with welfare, there is no incentive to fix the problem or even to allow the economy to create jobs. The worse things get for most of us the better they get for the aristocracy.
Let them watch football.
Children choose to live in poverty? I had no idea they could make that choice. How stupid of me.
Two out of five ? LOL. Ever heard of the national debt ? Oh I forgot, being a debt slave doesn't mean a person is poor, that means he is "productive". What a joke.
On the bright side, kids with experience in poverty are unlikely to become spoiled whiny iBitches like the Millenials. They might actually value something other than their own self-esteem.
End the US Oligarchy.
The poverty level criteria used now is not the same as what was considered 'poverty' in 1929.
Expect this to only get worse over the next decade.
Whats the difference between poor people in India or Africa and poor Americans. Some would have you believe that poor American choose to be poor and the poor in India and Africa are the result of the economy. Poverty is a complex issue and the fact that there are simply not enough resource to fill the super greedy pockets is a major issue.
The major issue is a population of 7.3 billion people on the planet and growing exponentially with limited resourses.
That can't be true. At my local public high school parking lot, I see lots of new import *luxury* small cars built for your middle class members.
Same loser parents that brag and flaunt their pseudo wealth by showing off all the things they owe debt on and yet they have zero or negative net worth...
They put material things over their kids too is why their kids go to shitty public schools.
Not all public schools are crappy. Many are quite good. It very much depends on where you are, which doesn't just mean what county, but also what state. Northern states tend to have much better public education in general.
However do recall that if you allow your kids to watch TV or go to public schools, they will DEMAND all kinds of material crapola, most of it of poor quality or totally lacking usefulness, because they have been brainwashed into the belief that this crap actually defines a "normal" life and anything else is deprived.
Same loser parents that brag and flaunt their pseudo wealth by showing off all the things they owe debt on and yet they have zero or negative net worth...
They put material things over their kids too is why their kids go to shitty public schools.
They will be gone after the auto loan bubble pops.
Define "US" poverty?! Obama phone, food stamps(credit card so as not to shame your freeloading azz), subsidized housing, welfare checks...etc. etc. basically if you are single mom with kids and don't make more than $48,000 year it pays to be a welfare queen and on the gov't dole.
Define "US" poverty?! Obama phone, food stamps(credit card so as not to shame your freeloading azz), subsidized housing, welfare checks...etc. etc. basically if you are single mom with kids and don't make more than $48,000 year it pays to be a welfare queen and on the gov't dole.
move your family to the inner city of Detroit,
live on a poverty level budget for a year,
send your kids to the public schools,
and then tell us whether you think your kids are
"experiencing poverty" enough.
please define "US children" does it include legal and illegal immigrnts?
or the ones killed by
US drones etc.?
"if you break it, you own it".
70% of children in "poverty" are Hispanic. Most of the rest are black children whose future was displaced by illegal immigrants.
Remember that "poverty" as defined in the US is artificially low otherwise state and federal social enslavement budgets would explode.
Edit: Also raising the poverty line would start capturing more white children in the numbers. And then whitey might start wondering what was going on with the "American Dream", a politically dangerous thing to a certain class of people.
All birth certificates owned by the bank.
The state expects at least $1 million in productivity.
Get to work.
Today poverty means no smart phone.
2 out of 5 children live in poverty.
You will not get any sympathy here on ZH. "Boot straps, bitches."
The main cause of this, however, has been well-demonstrated: for some illogical reason, possibly having to do with having fewer distractions from instinctive sexual urges, the poor tend to have many more children than the wealthy. This holds within nations but between classes, and also between nations. The best cure both for child poverty and for overpopulation is to sterilize those who cannot support themselves. Giving them government benefits at a per child rate, as the U.S. does, is the best way to assure that they will continue to have babies and dump the costs of their upbringing on the public.