Are Recessions Good For Your Health?
A new study argues that there may be health benefits to being unemployed and broke.
You might have awaken this morning with a huge frown of your face given you don’t feel like spending another day telling bill collectors you died six months ago hoping that they may finally leave alone.
It’s highly possible you could currently be sitting in front of a computer doing a job that you hate to keep up the payments on your mortgage so you won’t end up on some homewrecker’s couch like other unfortunate souls. (Yes, I finally finished watching Bobby Brown’s Behind The Music).
But there may be a silver lining for those of you that are in for a rough day but can’t afford a nice Happy Hour to at least help end everything on a high note.
According to a study from the University of Michigan our health and overall well being improves during hard times. This is due to times of economic strife forcing us to cut back on indulgences like drinking, smoking, and eating rich foods. Moreover, we all typically sleep more and appear to be less stressful.
These researchers’ findings are rooted in the fact that death rates during the Great Depression fell before ultimately rising once the economy picked up.
The study – published in the Proceedings of the National Academy of Sciences – says the number of people who died from heart disease or cancer also fell.
However, the number of suicides increased as unemployment rose – which practically negates the notion that people are less stressed out when unemployed, no?
Still, researches argue that high unemployment isn’t as harmful to your health as most let on.
Lead researcher Jose Tapia Granados from the university's Institute for Social Research explained to the Telegraph, "There is more time to sleep, and because people have less money, they are less likely to spend as much on alcohol and tobacco,” he said.
But once the economy picks up traffic will get worse, which will result in some of us turning into crash test dummies. And once business is booming employers will require longer work hours and performance at a faster pace. That in turn leads to stress which is associated with more drinking and smoking.
Do you really believe destitution is the new multi-vitamin?
What would you prefer: A steady check and a pack of cloves (get them while you still can) or extra sleep and no money?
Leave your answers below and please send your recession stories to therecessiondiaries@gmail.com
Debtors Revolt Against Banking Industry
Ann Minch took to YouTube to complain about Bank of America boosting her interest rate on her credit card to a whooping 30 percent. Should more credit card users follow her lead and take on the banking industry?
I typically give those who take to YouTube to rant about as much attention as any random crackhead on the street doing the jerk while raving about the Illuminati.
But it’s hard to ignore Ann Minch now that her infamous video taking on Bank of America for sending her credit card interest rates soaring has gotten national attention.
As you can see, Minch claims that despite never being late on any payment, Bank of America "jacked up my interest rate to a whopping 30% APR” for her credit card.
I’m not surprised customer service wasn’t willing to help you. Ever try talking to a student loan company about having problems making payments? You might as well make plans to sell your organs because they’re not trying to hear you.
Although CNN has since reported that Jeff Crawford, the bank's senior vice president of existing customer credit services, called Minch to explain that her two late payments resulting in her rate being hiked, in general is it fair to make consumers play over 30 percent interest?
Some credit card companies have jacked up the rates of consumers who have never missed a payment. I would know because I used lots of expletives when I noticed.
Then there’s the issue of bank overdraft fees and banks like Bank of America (shocker) misleading state governments in their business dealings.
Not much has been done in the overhaul of various financial institutions…prompting videos such as these.
That said, who’s going to help edit my video, so I can curse that evil woman named Sallie out?
Leave your feedback below and send your recession stories to therecessiondiaries@gmail.com.
The Screwed Generation
More than half of the people between the ages of 16 to 24 are unemployed. What might that mean for them and America’s future?
Chances are that if you’re under the age of 25 and happen to read this blog you probably won’t view this entry until about 2:15 p.m. You know, after you eat breakfast.
I can understand why, though. It’s not like you have anything to do -- well at least not half of you anyway.
According to the Labor Department, the unemployment rate for young Americans has soared to 52.2 percent -- a post-World War II high. During previous recessions, in the early '80s and early '90s, unemployment among 16-to-24-year-olds never went above 50 percent.
If you’re middle aged, you may have taken a hit in the job market, but not like your great uncle and niece. The oldest and youngest workers have taken the hardest licks in this recession. Young workers have lost a total of 9.5 million jobs thus far.
That translates into a lot of high school students missing their opportunities to enjoy (or not) their first summer job and many newly collegiate graduates begrudgingly having to postpone the start of full fledge adulthood.
If any of you think it’s best that younger people suffer now rather than later, think again.
“…millions of Americans are staring at the likelihood that their lifetime earning potential will be diminished and, combined with the predicted slow economic recovery, their transition into productive members of society could be put on hold for an extended period of time.”
A study from the National Longitudinal Survey of Youth says the damage to a new career by a recession can last 15 years.
Parents should worry because this news means it will take even longer for young adults to get out of their house. It will also take even longer for them to make their first car and home purchase -- putting the U.S. economy at further long-term risks.
The Post article tries to place the blame for all of this on Obama. While there’s not a rock big enough to smoke that would have me believe that, no matter how you spin it, young people are suffering.
If something isn’t done soon, the Kardashian’s will become young people’s heroes. Already far too many young people think “socialite” is a career title. Someone give us jobs to stop the madness.
Leave your comments below and send your recession stories to therecessiondiaries@gmail.com
When Did Tijuana Become More Appealing Than Texas?
The number of foreign born residents in the country has hit a 40-year-low. Even if you’re Lou Dobbs doing border control, isn’t that a bad sign for the country?
The number of foreign-born residents of the U.S. declined for the first time since at least 1970, according to the Census Bureau's annual American Community Survey.
For Mexican immigrants, a decline in construction jobs resulted in their reluctance to immigrate to the U.S. Yet for foreigners from other countries there’s a greater fear that the idea of a more leisurely life in America is a lot harder to come by.
As reported in the Wall Street Journal:
“In multiple ways -- falling homeownership, families moving in with others, couples putting off marriage -- the report illustrated that the recession has upended Americans' lives.”
If Americans are suffering, what sense of urgency do others have to come here?
Of course, there are other factors involved in these figures. For one the Bush administration tightened immigration laws – making it far more difficult for immigrants to come and go as they please (in theory, at least). And it’s still a task to properly tally just how many illegal immigrates are present.
Still, the American dream has lost some of its luster globally and as a result, some are thinking, “Why not just stay where I am?” It’s either that or, “Gee, I wonder how hard it would be to learn Mandarin?”
Previously I’ve written about Mexican immigration declining for the first time since 2005. One reader chimed in on why some his Mexican brethren are opting to stay in the low crime, politically stable, economically booming country of Mexico over destitute America.
In short: “Immigrants came here to enjoy the finer things in life, but since you industrialized nations (sans China) are too broke to keep up, the simpler things in life sound a lot more appealing.”
Based on past posts about immigration, I’m sure the lot of you are grinning ear-to-ear about the decline in immigration. But, doesn’t it worry you that the country hailed as the land of opportunity is losing its luster?
Leave your feedback below and send your recession stories to therecessiondiaries@gmail.com.
Serving Soup When Your Employment Status Sucks
Some claim the recession has paved the way for a boost in volunteerism, others say it’s put a damper on everyone’s goodwill. Regardless of the true outcome, has the economy made you want to go out and give a little more?
There are alternatives on how to spend unemployment outside of Maury Povich, ice cream, and tears. As you can see from the video report many Americans are spending their newfound free time assisting others. Although some do indeed look towards volunteer work solely from its potential networking benefits, others are simply coming to the realization that their lives could be a lot worse and thus have decided to lend a helping hand. There are conflicting reports on exactly the number of Americans who are performing volunteer work, however.
A recent survey conducted by the National Conference on Citizenship claims Americans have cut back on their volunteerism and civic activities. Yet states like Minnesota, Massachusetts and Florida are reporting surges in activity.
Regardless of the exact number of people out volunteering, isn’t it good to see the recession highlight the goodwill in so many people? For those laid off, fighting off credit card companies and mortgage companies, no one would fault you for sitting in front of your TV slouched up counting down to the episode of Oprah where she reveals her favorite things that you know you can’t afford.
Yet, instead of being saltier than Tony Chachere people are out helping others.
To those laid off: Has the recession inspired you to hug a tree or someone’s bad little kid or are feeling like Oscar sitting in the dumps?
I’d love to hear from you.
Leave your feedback below and send your own recession tale by writing therecessiondiaries@gmail.com.
