By Barbara Garson
One of our so much incisive and devoted journalists—author of the vintage All the Livelong Day—shows us the true human rate of our fiscal follies.
The nice Recession has thrown large financial challenges at just about all american citizens shop the super-affluent few, and we're simply now starting to reckon up the human toll it really is taking. Down the Up Escalator is an pressing dispatch from front traces of our colossal collective fight to maintain our heads above water and perhaps even—someday—get forward. Garson has interviewed an economically and geographically good selection of usa citizens to teach the painful waste in all this loss and lack of confidence, and describe how people are coping. Her broader old concentration, even though, is at the reasons and effects of the lengthy stagnation of wages and the way it has led to an more and more determined reliance on credits and a chain of ever-larger bubbles—stocks, expertise, genuine property. this is often no solution to run an financial system, or a democracy.
From the individuals of the crimson Slip membership in big apple, to a California domestic health-care aide at the eve of eviction, to a subprime loan dealer who nonetheless thinks it might probably have labored, Down the Up Escalator presents a sobering photograph of what occurs to a society whilst it turns into economically prepared to learn basically the very wealthy and the quick-buck speculators. however it additionally demonstrates the wit and resilience of standard Americans—and why they deserve rather a lot better than the hand they’ve been dealt.