Archive for the ‘Economic Issues’ Category

My Quinceañera and The Economy

As a Latina girl, I have lived in the tradition of having a BIG Quinceañera, and it’s just the party I have always dreamed of.  I always imagined it to be in a beautiful hall with all my friends and family there.  This year I am finally turning 15, and I have been doubting whether I should have a Quinceañera or not.  My reasons are that the economy is definitely not the best right now.  I don’t want my mom to work more hours because of me, and have to owe people money just because I want a huge party.  I hate to see my parents struggling because there are times where we really have to dig into the savings to pay the bills that we were able to pay before with just my dad’s paycheck.  I hear my dad saying, “Man!  I don’t know what we’re gonna do next month, I don’t know if we will be able to pay the rent!”  It’s definitely not something I like to hear because I don’t like when they stress out.

There are also times when I really think about what I ask for – if I want new clothes or if I need new shoes, I really think about asking for those things because I wonder if my mom has enough money to pay for them.  My mom is the kind of person that, if I need something or if any of my brothers need something, she will give up something that she needs more just to make us happy.  I don’t like that she’s like that because I feel bad that she will give up her own things.

Even though the economy is very bad right now, my mom is throwing me my party.  I’m not asking for more than she can give because I know that I have to be thankful for whatever she can give me.  I know that my mom is doing her best to make this party for me on her own because my dad can’t spend more money than he actually gets at his job.  I know that even though we are not going to spend thousands of dollars on the party, it will be one of the best days of my life because my family will be there with me.

I think we have to be thankful for all the things we have and don’t take anything for granted because there are some people out there that don’t have jobs or even a place to live right now.  I just hope that we will not be put into that situation because it’s not something anyone would like to go through.  So, I just hope that things get better for us and everyone else out there who is going through the same thing.  :)

 

Woeful State of the Economy

A year ago Lehman Brothers declared bankruptcy, an event that triggered the worst global economic crisis since the great Depression, so read all the headlines in the newspaper for the ensuing 7 to 9 months until recently.  As furious as the pace of decimation of wealth took place, as miraculous was the recovery, again according to newspaper headlines.  In the blink of an eye, it is almost surreal to believe that the stock market is up about 50% from its trough since March of this year.  For some, it may appear to be simply a terrible nightmare, one that we will wake up from in a few months with things back to some semblance of normalcy.  Alas it isn’t so!  Real people did not and do not live in the stock market but their livelihoods are impacted by the crisis all the same.  The symbiotic relationship between Wall Street and Main Street were most poignant through out the crisis – as evidenced by the massive job losses in every sector.  As Wall Street engineered rounds of lay-offs, so did the real economy.  And while it was Wall Street that is credited with causing the crisis, its total job loss of some 40,000 since the beginning of the crisis pales in comparison to the total of jobs lost on Main Street – to the tune of 7+ million!

According to the US Dept of Labor, since the recession began in December 2007, the number of unemployed persons has risen by 7.4 million, and the unemployment rate has grown by 4.8%.  As of August of this year, the number of unemployed persons totaled 14.9 million, and the unemployment rate rose to 9.7%.  The breakdown by major groups are as follows: adult men (10.1%), women (7.6%), teenagers (25.5%), whites (8.9%), Hispanics (13.0 %), blacks (15.1%) and Asians (7.5%). President Obama’s stimulus plan aims to create 2.5 million jobs by 2011, this will still leave a gap of 5 million jobs to be recreated by the companies that have made the cuts.  “How” is the biggest question?  Many folks are contemplating starting their own businesses but with banks shutting off the lending valve, it becomes increasingly difficult to borrow to start your own company.  Recently I decided to see what the banks are doing with their TARP $ (if they are plowing it back into the system vis lending), I went to the 3 banks that I bank with to inquire about borrowing to start a business, none of them would do personal loans anymore, and if I were to start my own business, I need to be in the same field where I had prior experiences (great, loads of stock-broking jobs there!!).  They all advise that I use my own savings or open a home equity line, assuming I have any equity left at all!

In 2004 the United States had 12% of its population living below poverty line, worst than 20 other first world or third world countries such as France, Libya and Thailand, considering that it is the world’s wealthiest county by many standard. I reckon that % may have gone up in the past 5 years, and it will be interesting to see what happens in the next 30 -40 years. The bipartisan Congressional Budget Office forecasts that social security + Medicare + Medicaid = 20% of the US GDP by 2050. Recently, the average (entire) US Gov’t budget runs about 20% of US GDP.  At some point we will run out of money and we won’t be able to help the elderly and the poor, yet both parties are bickering and can’t agree on anything.

We are facing a huge problem on borrowed time, I know not what the right solutions are, but I know America is the land of resilience and opportunity, we will get it right one day, if we stop being divided and work towards a common goal – to re-energize a nation of hardworking folks who want to create a better future for themselves and the next generation.

 

My County Hospital Experience

 

Unemployment nationally hits 9.7%

Today’s latest report shows a big jump in unemployment figures nationally to 9.7%. While the economy lost 216,000 jobs last month, reports are showing that 5 million people have been out of work six months or more. Since the beginning of the recession which began in December 2007, 6.9 million jobs have been eliminated. What about all the people who have fallen off the unemployment rolls, part time workers and contract workers that work from their homes. If we look around and talk to our families and friends, how many of us all have been affected by the downturn in the economy and the recession. What is the impact on women and the workforce and are we hit any harder as a group?

While most sectors of the labor industry continues to shed jobs, there are a few bright spots. The healthcare and education sectors actually added 52,000 workers recently. As the fiscal stimulus package trickles down to our local economies, we’ll start to see the employment numbers improve. Meanwhile people are looking at ways to reinvent themselves, return to school for training in new industries and struggle to make ends meet until the economy begins to improve.

 

Speak Up for Health care reform

Good health care is not a privilege. With 47 million Americans uninsured and the battle over Universal Health care at a fevered pitch, we all have to step in and help get a Universal Health care bill passed. Let’s remember, Health care reform isn’t just about getting insurance for the uninsured. It’s about improving the cost and coverage of insurance for the majority of people who do have health care insurance. During the month of August, there will be huge battles waged by the insurance and pharmaceutical industries to prevent health care reform and to ensure that they can continue to reap huge profits at our expense.

We need to help mobilize our communities to understand how the Universal health care plan affects our families and communities. We need to call our legislators, sign petitions, and put pressure on our elected officials to get their support. President Obama is fighting our battle for us and calling on each one of us to let our legislators know how we demand support for affordable health care for everyone. Many of our legislators are treating health care like it’s a political football, or a game they’re playing to leverage their power. Reach out to your friends and families and together let’s make the Health care change happen now. Let’s talk to our college students, family members and community groups and ask them to get involved. We will be continuing a series of articles to keep you abreast of these issues and ways that you can take personal action and get your voices and votes counted!

If you want to do something now in August, go to: http://my.barackobama.com/CommitAugust and find out what Organizing for America is doing in your community and sign up to attend an event. Let’s all make Health care reform our priority!

 

Powerful, passionate, talented women at the Silicon Valley Circle

A group of 26 women gathered at Flo and Ed Wong’s beautiful home Wednesday evening for the second Engage Her Silicon Valley Circle meeting. Multicultural women from all walks of life and diverse backgrounds gathered to meet, share, contribute and bond with one another. Crossing cultural lines and opening up their hearts and minds they were determined to step out of their traditional “silos” and connect with one another in a powerful, meaningful way.

The opportunity for positive change is upon us. Women are stepping up, taking leadership roles and engaging the community to take action in big and small ways. There are issues on a global and national scale. And there are issues in our own backyard. It is clear that there are many challenges ahead in regards to the economy, jobs, the environment, education, healthcare, civil liberties, immigration and more. But together, we can start the movement to change, one circle at a time.

I look forward to the next Engage Her Silicon Valley Circle in September (to be announced).