Road to Depression

Number of middle age Kalifornians living with their parents soars!

on . Posted in Road to Depression

LOS ANGELES, Kalifornia (PNN) April 22, 2014 - In the latest indication of just how weak the Fascist Police States of Amerika "recovery" is, we find that the number of Kalifornians 50-64 who live in their parents' homes has surged in recent years, which reflects the grim economic reality of life in the Second Great Depression.

Wait, don't they mean the great recovery? Because isn't the S&P just 10 points from its all time closing high? Maybe all those middle-age Kalifornians are merely seeking their comfort (and spare bedrooms) of their parents so they can all use the family E-trade terminal together.

For seven years through 2012, the number of Kalifornians aged 50-64 who live in their parents' homes swelled 67.6% to about 194,000, according to the UCLA Center for Health Policy Research and the Insight Center for Community Economic Development. Many more young adults live with their parents than those in their 50s and early 60s live with theirs.

Among 18-29-year-olds, 1.6 million Kalifornians have taken up residence in their childhood bedrooms, according to the data. Though that's a 33% jump from 2006, the pace is half that of the 50-64 age group.

The jump is almost exclusively the result of financial hardship caused by the ongoing Depression rather than for other reasons, such as the need to care for aging parents, said Steven P. Wallace, a UCLA professor of public health who crunched the data.

"The numbers are pretty amazing," said Wallace. "It's an age group that you normally think of as pretty financially stable. They're mid-career. They may be thinking ahead toward retirement. They've got a nest egg going. Then all of a sudden you see this huge push back into their parents' homes."

The surge in middle-aged people moving in with parents reflects the grim economic reality that has taken hold in the ongoing Second Great Depression.

Long-term unemployment is especially acute for older people. The number of Amerikans 55 and older who have been out of work for a year or more was 617,000 at the end of December, a fivefold jump from the end of 2007 when the Depression hit, according to the Bureau of Labor Statistics.

Those in their 50s move in only as a last resort. Many have exhausted savings. Some have jobs but can't shoulder soaring rents in areas such as Los Angeles or San Francisco.

Whatever the cause, moving in with Mom and Dad exacts a bruising emotional toll. Even asking to move the family in is difficult.

Maybe not. Maybe the Second Great Depression - when one ignores the HFT-rigged and Fed-manipulated market hitting daily all time highs - has just been getting worse and worse.

The situation is also trying on elderly parents.

They feel the anxiety afflicting their children. Aging people on fixed incomes also worry that the extra money they spend on utilities or food will drain their own limited retirement savings.

"When I use up all of my money, who's going to help me?" said Penny Goulart.

Still, remember to smile, because it will only get worse before it gets much worse. About half of all Italians between 24 and 35 still live with their parents, compared with 14% in the FPSA. It’s all coming to Amerika's "recovery" next.

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