Tuesday, January 5, 2010

US: Living on food stamps and 2010 socio-economic dynamics

About 6 million of the 300 million Americans (2%), report they have no other income other than the food stamps they receive, according to an analysis of state data collected by The New York Times. One in eight Americans now receives food stamps, including one in four children, reports the NYT!

That, plus the existing healthcare systemics in the US, IMO make one think of the faults in the American socio-economic model.

On the other hand, one might consider that the US model was one of a "make or break" (succeed big or fail big) systemics, with minimum safety net, as opposed to most socio-economic models in Europe. Was the American Dream that was a secure employee or that of an entrepreneur? IMO, the latter. Like the difference in expected return and risk and risk profile between a stock and a bond.

To what extent does the US public opinion wish to move to a more "European" or "bond" model?

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