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Who: Kimball Corson. Text and Photos not disclaimed or that are obviously not mine are copyright (c) Kimball Corson 2004-2016
Port: Lake Pleasant, AZ
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The Have's Suddenly Discover How the Have-Not's Live

03 June 2016 | Pago Pago, American Samoa
Kimball Corson


The press and the Fed are all in a tither from what they just learned.

"In the United States, nearly one-third of adults, about 76 million people, are either “struggling to get by” or “just getting by,” according to the third annual survey of households by the Federal Reserve Board."

The first and second annual surveys were thought perhaps to be aberrational, but the third survey has hammered the message home big time. The Fed is now shocked and rethinking its policies. The NY Times editorial board just addressed the results in a new Oped piece. Others are opining as well.The message has leaked through.

The have's now understand how many have-not's there are and how bad they have it. I have been arguing this for years, explaining how bad off the middle class in America has become, both economically and psychologically, to all of may many friends who haven't really believed it and have thought things in this quarter have been alright and the US is basically fine.

But nothing will change is the likelihood. Since when has the Fed set policy to please the bottom third. Its business is to take care of Wall Street and the top 10%, and barring congressional intervention and new law, it will continuing doing that and shove the present problem under the table. Washington and the republican congress couldn't care less either, so after this flap, the furor will die down and it will be business as usual.
______

Pardon my cynicism, but the question is, am I correct? We'll see.
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Vessel Name: Altaira
Vessel Make/Model: A Fair Weather Mariner 39 is a fast (PHRF 132), heavily ballasted (43%), high-aspect (6:1), stiff, comfortable, offshore performance cruiser by Bob Perry that goes to wind well (30 deg w/ good headway) and is also good up and down the Beaufort scale.
Hailing Port: Lake Pleasant, AZ
Crew: Kimball Corson. Text and Photos not disclaimed or that are obviously not mine are copyright (c) Kimball Corson 2004-2016
About:
Kimball Corson: I am a 75 year old solo sailor, by choice. However, I did take on a personable, but high maintenance female kitten, now a full grown cat, named KiKiPoo when she is sweet, or KatKatPo after she has just killed something like a bird or bat. [...]
Extra:
Although I was a lawyer and practiced law with good success for thirty years, creating significant new law, I never really believed in the law, the politics of law or in the over reaching self-interest of most lawyers I met. Too much exposure to Nietzsche and other good and seriously thoughtful [...]
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Profile

Who: Kimball Corson. Text and Photos not disclaimed or that are obviously not mine are copyright (c) Kimball Corson 2004-2016
Port: Lake Pleasant, AZ