THE WORKING POOR
Imagine living in a house with two first degrees, two jobs, two kids, two dogs and sometimes too broke to buy food. These are some of the realities of the educated working poor the world over.
Since 2006 things have got progressively worse for the EWP (educated working poor), that’s about the same time the “R” word became the buzz. The hardships faced by this section of the global population are real and their numbers are growing.
Here is a part of their dilemma, pay for your child’s education and have nothing to retire on. The next option: let the kids take out a student loan and start their working life indebted. For a young person to start their working life in the red is a very rough initiation.
Minimalism is now a reality of life for the EWP .The vast majority of working class people are presently operating in a very tight fiscal space. One wonders where has all the money in the world gone? Was it dumped in some bottomless pit?
I was at a bloggers hang out in Kingston recently and started a conversation with Wendy, a bright third year economy student. In Wendy’s mind the problem stems from a lack of liquidity, with billions stashed away in banks all over the world. Those monies are parked waiting for what in their principal’s mind is the right time and the right project. This, at a time when major economies are declining.
The mind of the writer often wonders, “Is this recession an integral part of the globalization processes?” Every challenge in this life has a corresponding solution. There must be an answer to the plight of the working poor. We are told that gold is one of the best investments at this point in time, “hold gold” we are told. My question is, just who is behind the cash for gold phenomenon? Sometimes one gets the feeling that there is a global repositioning of resources in progress.
The educated working poor will have to redouble their efforts. We must see more - Investor minimalist – that is living a minimalist life and be very lavish in your investments. In reality cutting back is only part of the solution, income is also very important, financial education is the key. Just how does money work? What are the fundamentals? In this case ignorance is not bliss it spells poverty.
With my believe in self-determination, I will naturally place the responsibility to acquire financial education squarely at the feet of the individual. Information abound, the internet, library to the world is one easily accessible place to start one's research.
Some people believe that we are playing with a trick deck of cards. All the money seems to end up in the same place: Big Corporation. If the system is indeed rigged in favor of a few, than would be an indictment on governments globally