I know, I know, you're starting to feel a little down just reading these reviews, aren't you? Well, hang in, we're getting through the week.
Barbara Garson's Down the Up Escalator: How the 99 Percent Live in the Great Recession was a book I saw on many "forthcoming books" nonfiction lists earlier this spring, and the title intrigued me enough so that I put a hold on it at the library. Then I heard the author speak on public radio, and while I didn't hear the entire program, I liked her point that we are thinking of our current financial situation in America all wrong--most peole date our financial "crisis" to 2008, while Garson posits that things have really not been that great (particularly for working stiffs) for a lot longer than that, back even to the late 1970s. The book is divided into three segments representing our financial lives: Our Jobs, Our Homes, and Our Savings.
And of course nothing here is that big a surprise either (at least, not if you're a downer book addict like me):
--"By the fall of 2010 there were fourteen million officially unemployed Americans--40 percent of them classified as the long-term unemployed. An additional ten million were working part-time but said they wanted full-time jobs. Fifteen million more had dropped out of the labor force since this recession began." (p. 46.)
--"California was the Wild West of mortgage innovation. Nine out of the top ten subprime lenders were based in California before the crash, and so were most of the top ten mortgage banks that failed. California has 12 percent of the U.S. population, but between 2005 and 2007 more than 56 percent of America's subprime mortgages originated in California..." (p. 149.)
But this is a book that's more about personal stories and analysis than a recitation of numbers. Consider this exchange between Garson and one of her interview subjects:
--"'What am I looking at here in Evansville?' I asked the lean fifty-year-old [Charles Whobrey, president of the local Teamster union] as he led us into his cubbyhole of an office. 'How could a town have gotten this depressed since Lehman Brothers collapsed?'
''You're not looking at the effects of just this recession,' he asserted. 'So many people here survive paycheck to paycheck, obviously living beyond their means, that when something like this hits...well, let me go back.
'I started working for the union in 1981...I started in March, and not a month later President Reagan fired the air traffic controllers. Permanently fired the strikers. That doesn't happen much in American history. Killing PATCO [the air traffic controllers' union] sent the signal to business--as it was supposed to--that it was okay to get rid of the unions. 'Uh-oh,' I said, 'I have the knack for gettin' involved right when the wheel's going into the mud.'"
And with unions went wages..." (p. 82.)
It's kind of a strange read. Garson does not, for the most part, provide really shocking details of homelessness or utter destitution. What she DOES provide is a rather unnerving portrait of an increasingly large group of people finding it a bit tougher, every single day, to keep and find jobs, to keep making their house payments, to stay out of debt after experiencing a health setback, to have anything for retirement; in other words, pretty much everyone's growing daily monetary struggles.
I have read other similar books that I liked somewhat better: Richard Longworth's Caught in the Middle: America's Heartland in the Age of Globalism, for instance, or even Louis Uchitelle's The Disposable American: Layoffs and Their Consequences, which was published before 2008 and was therefore all the more prescient. But I did enjoy Garson's viewpoint, and I'd never heard of her before, so now I may look into some of her earlier books (including Electronic Sweatshop and All the Livelong Day: The Meaning and Demeaning of Routine Work).