SIGN IN to access Harper’s Magazine
1. Sign in to Customer Care using your account number or postal address.
2. Select Email/Password Information.
3. Enter your new information and click on Save My Changes.
Subscribers can find additional help here. Not a subscriber? Subscribe today!
Economic data coming out this week reveal an economy in free-fall.
Every single working day in the month of December 2008:
190 U.S. companies filed for Chapter 7 or Chapter 11 bankruptcy protection
4,950 Individuals filed for bankruptcy protection
3,100 Homes went into foreclosure
26,190 Jobs were lost and 25,035 workers filed for unemployment insurance
For the year 2008, the $6.9 trillion in lost stock market value among 110 million households represents a per household loss of $62,727. The $6 trillion in lost residential real estate property value nationally in 2008 adds $54,545 per household for a total of $117,272 in lost household asset value in 2008, exceeding by 27% the national household median net worth in 2007 of $86,000. (Losses were concentrated in the middle quintiles aka “the middle class.”)
More from Ken Silverstein:
Perspective — October 23, 2013, 8:00 am
How pro-oil Louisiana politicians have shaped American environmental policy
Postcard — October 16, 2013, 8:00 am
A trip to one of the properties at issue in Louisiana’s oil-pollution lawsuits
Acreage of a Christian nudist colony under development in Florida:
Florida’s wildlife officials decided to remove the manatee, which has a mild taste that readily adapts to recipes for beef, from the state’s endangered-species list.
A 64-year-old mother and her 44-year-old son were arrested for running a gang that stole more than $100,000 worth of toothbrushes from Publix, Walmart, Walgreens, and CVS stores in Florida.
Subscribe to the Weekly Review newsletter. Don’t worry, we won’t sell your email address!
“He could be one of a million beach-bound, black-socked Florida retirees, not the man who, by some odd happenstance of life, possesses the brain of Albert Einstein — literally cut it out of the dead scientist's head.”