The American economic crisis of the 21st century is becoming worse. Wall Street and the multinational US corporations have offshored millions of US jobs that provided middle class incomes. Americans who lost these jobs have experienced dramatic reductions in their incomes and access to medical care. They have used up their savings and now have to sell parts of their bodies for money. This crisis will worsen as the American economic collapse proceeds. Income and wealth are concentrated in the hands of a few oligarchs, with 400 families having as much wealth as 150,000,000 Americans. Bloomberg is wrong about “the four-year-old economic expansion.” The alleged recovery is a product of statistical manipulation, as John Williams (shadowstats.com) has made clear.
By Victoria Stilwell
Bloomberg News, Oct 15, 2013
Hair, breast milk and eggs are doubling as automated teller machines for some cash-strapped Americans such as April Hare. Out of work for more than two years and facing eviction from her home, Hare recalled Louisa May Alcott’s 19th-century novel and took to her computer.
“I was just trying to find ways to make money, and I remembered Jo from ‘Little Women,’ and she sold her hair,” the 35-year-old from Atlanta said. “I’ve always had lots of hair, but this is the first time I’ve actually had the idea to sell it because I’m in a really tight jam right now.”
The mother of two posted pictures of her 18-inch auburn mane on www.buyandsellhair.com, asking at least $1,000 and receiving responses within hours. Hare, who also considered selling her breast milk, joins others exploring unconventional ways to make ends meet as the four-year-old economic expansion struggles to invigorate the labor market and stimulate incomes.
In all but two quarters since the beginning of 2011, “hair,” “eggs,” or “kidney” have been among the top four autofill results for the Google search query, “I want to sell my…,” according to Nicholas Colas, chief market strategist at New York-based ConvergEx Group, which provides brokerage and trading-related services for institutional investors. While Americans can legally sell hair, breast milk and eggs, the sale and purchase of a kidney in the U.S. is against the law.
“The fact that people even explore it indicates that there are still a lot of people worried about their financial outlook,” said Colas, who tracks off-the-grid economic indicators. “This is very much unlike every other recovery that we’ve had. It’s going to be a slow-grinding, very frustrating recovery.”