March 2, 2012

Hard Times

“Look how we live, an’ wheer we live, an’ in what numbers, an’ by what chances, an’ wi’ what sameness; and look how the mills is awlus a-goin’, and how they never works us no nigher to onny distant object-‘ceptin awlus Death. Look how you considers of us, and writes of us, and talks of us, and goes up wi’ your deputations to Secretaries o’State ‘bout us, and how yo are awlus right, and how we are awlus wrong, and never had’n no reason in us sin ever we were born. Look how this ha’ growen an’ growen sir, bigger an’ bigger, broader an’ broader, harder an’ harder, fro year to year, fro generation unto generation. Who can look on’t sir, and fairly tell a man ‘tis not a muddle?” Charles Dickens, “Hard Times”
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Max Abelson’s exploration of the hard times facing the lower rungs of our Financial Overclass is nothing short of revelatory. The article posted on the Bloomberg website February 29th can be read in its entirety here. The OTCB team was frankly surprised to learn of the ongoing struggle and hardship being endured by these frugal, contributing members of our society. Some details brought to light in the Abelson column we found particularly noteworthy:

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December 31, 2009

New Year’s Resolutions from the Nation’s Capital

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