As the Dow Jones reached a record high today, we also learned that 50,000 people slept in New York City's homeless shelters every night in January. According to a report from Coalition for the Homeless, the number of children sleeping in homeless shelters has increased by 22%, to 21,034, in just one year. "More children and adults are homeless now in New York City than at any time since the Great Depression," the report states.
Bloomberg is so thoroughly removed from reality that its chilling. What's even more chilling is all the pundits in our media market and the national news scene are highly paid celebrities. They don't get it either.
And so the mantra, day in day out, is "more austerity!"
Money is cheap. Growth is at a crawl. Our infrastructure is crumbling. People need jobs. And outside of the stock market, we haven't come close to recovering from the economic crisis. You'd think people in positions of power might do something about that.