"Not My Financial Crisis - I've Got Literally Nothing to Lose"

As usual, former NY Press editor and current AlterNet contributor Alex Zaitchik has weighed in on a topic like no one else has (at least that I know of). This time it's about what a joke this financial crisis is to those of us who don't own a damn thing and who see this so-called economic meltdown as little more than an excuse to stop paying bills.  Here's an excerpt:

Like most people I know in their 20s and 30s, it takes a stretch of the imagination to understand that I have a stake in the national economy. In terms of day-to-day life, my only ties to large financial institutions are a Bank of America checking account, a single low-limit high-fee Visa card, and a Kilimanjaro of student debt, which I have come to accept as something I will die with, not from, like a benign but grapefruit-size tumor or peaceable parasite dwelling in my large intestine. When people use scary terms like "unchartered territory" and "total meltdown," my first thought is, "Would an economic cataclysm wipe out my student debt? If so, then let's press reset and start the whole damn thing over! Burn it clean!"

I haven't heard much from or about people like me in the last month. Watching the media report on the crisis, you'd think the United States had achieved the Republican dream of becoming a full-fledged "ownership society" populated by an upwardly mobile class of home-owning day traders sitting on fat nest eggs. But it hasn't. So here's a news flash from the young-and-indebted demographic: Those of us without retirement plans or health insurance, who just barely make rent and buy food in the real economy, a lot of us aren't as scared as maybe we should be. We have our own gut take on the disappearance of $9 trillion in electronic NYSE casino chips. And that is, we could give a shit.

 Click Here For The Whole Article

| More

 Friends' Activity   Popular 
All Blogs
Follow the Phoenix
  • newsletter
  • twitter
  • facebook
  • youtube
  • rss
Latest Comments
Search Blogs
Phlog Archives