{"id":1469473,"date":"2024-06-05T11:20:00","date_gmt":"2024-06-05T15:20:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1469473"},"modified":"2024-06-05T11:20:00","modified_gmt":"2024-06-05T15:20:00","slug":"during-the-great-depression-they-were-called-hoovervilles-but-today-americas-shantytowns-are-called","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/during-the-great-depression-they-were-called-hoovervilles-but-today-americas-shantytowns-are-called\/1469473\/","title":{"rendered":"During The Great Depression They Were Called “Hoovervilles”, But Today America’s Shantytowns Are Called…"},"content":{"rendered":"

During The Great Depression They Were Called “Hoovervilles”, But Today America’s Shantytowns Are Called…<\/span><\/p>\n

\n

Authored by Michael Snyder via The Economic Collapse blog,<\/em><\/a><\/p>\n

To those at the bottom of America\u2019s economic pyramid, it feels like the economy has already collapsed.<\/strong>\u00a0<\/p>\n

When you can\u2019t afford to put a roof over your head and you barely have enough food to eat, nothing else really matters.\u00a0\u00a0<\/p>\n

During the Great Depression of the 1930s, millions of homeless Americans created large shantytowns known as \u201cHoovervilles\u201d all over America.\u00a0 <\/strong><\/p>\n

<\/a><\/p>\n

Unfortunately, we are witnessing the same thing today.\u00a0<\/strong> Our homeless population is rapidly exploding, and those that have nowhere to live are creating shelters for themselves out of\u00a0wood, cardboard boxes, tents, tarps, construction materials and whatever else they can find.\u00a0 In some cases, very large shantytown communities are being established, and they are primarily populated\u00a0by our young adults<\/a>\u2026<\/p>\n

During the Great Depression (1929 to 1933), 48 percent of the nation was homeless, living with relatives or in \u201cshantytowns,\u201d \u201cHoovervilles.\u201d\u00a0\u00a0Today, between 47 and 52 percent of young adults are homeless<\/a>, living with parents or shelters, a direct result of Biden\u2019s radical overspending, energy and immigration policies, inflation, and high interest,\u00a0turning America into a giant \u201cBidenville.\u201d<\/a><\/p>\n

One \u201cBidenville\u201d that has been getting a lot of attention recently is located in Oakland, California.<\/strong><\/p>\n

A video of that \u201cBidenville\u201d that was posted on social media on May 31st shows\u00a0\u201cmassive temporary houses built along service roads\u201d<\/a>\u2026<\/p>\n

Shocking footage has emerged showing a gigantic \u2018shantytown\u2019 that has sprung up in Oakland, as the California city\u2019s slide into crime-ravaged squalor continues.<\/p>\n

Michael Oxford, the host of CaliBased, posted a video on May 31 of massive temporary houses built along service roads that open up into main roads in Hooverville, Oakland.<\/p>\n

The footage showed trash strewn around scores of houses that were built of wood, tarp and other discarded materials.<\/p>\n

I write about this stuff all the time, but it is still hard to believe that so many people are living\u00a0in third world conditions<\/a>\u00a0in the United States of America in 2024.<\/strong><\/p>\n

Parts of Oakland are worse than a third world country.<\/p>\n

They just allow people to live in absolute squalor, wherever they choose.<\/p>\n

This looks like Hooverville during the great depression.<\/p>\n

Welcome to Oakland\u2019s very own Gavinville. pic.twitter.com\/L58uK2E6Sh<\/a><\/p>\n

\u2014 Michael Oxford – AKA The Santa Cruz Mountain Goat (@SCMountainGoat) June 1, 2024<\/a><\/p>\n

The man that shot the video, Michael Oxford, used the term\u00a0\u201cabsolute squalor\u201d<\/a>\u00a0to describe the conditions that he witnessed\u2026<\/strong><\/p>\n

Particularly shocking was just how large the \u2018shantytown\u2019 is, with a lengthy stretch of road in the Bay Area city covered with the makeshift dwellings.<\/p>\n

Oxford could be heard calling the area a \u2018shantytown\u2019 that is \u2018absolutely mindboggling,\u2019 as he remarked how \u2018insane it is that [city officials] allow this.\u2019<\/p>\n

He captioned the video, \u2018Parts of Oakland are worse than a third world country. They just allow people to live in absolute squalor, wherever they choose.<\/p>\n

If you live in \u201cwealthy America\u201d, you may never even drive into areas where people are living like this.<\/strong><\/p>\n

Your reality may be filled with tree-lined streets and rich people sipping coffee.<\/p>\n

But in the worst areas of Oakland, the lawlessness never ends.<\/strong><\/p>\n

In fact, authorities in Oakland recently removed traffic lights at one major intersection and replaced them with stop signs because thieves\u00a0were constantly stealing copper wire from the electrical boxes<\/a>\u2026<\/p>\n

The city of Oakland recently removed traffic lights from one busy intersection and replaced them with stop signs after the electrical boxes that controlled the traffic lights were repeatedly tampered with and copper from them was stolen.<\/p>\n

Local residents and those who own businesses in the area say the issue with the traffic lights stems from the nearby homeless encampment, which has grown over the years.<\/p>\n

The owner of a vehicle repair shop on the corner of the intersection, Tam Le, said the city is signaling that it is \u2018giving up on us,\u2019 by installing the stop signs.<\/p>\n

If you want someone to blame for this mess, you can blame the politicians in Washington.<\/strong><\/p>\n

Thanks to the horrific inflation that they have created,\u00a0approximately a quarter of the population in California<\/a>\u00a0is either living in poverty or is very close to living in poverty\u2026<\/p>\n

Biden needn\u2019t worry about losing California to Trump, but it has\u00a0one of the nation\u2019s highest rates of inflation,<\/a>\u00a0according to Moody\u2019s Analytics, worsening its already outlandishly high costs of housing and other living expenses. It\u2019s the biggest factor in California having the\u00a0highest level of functional poverty<\/a>\u00a0of any state, 13.2% according to the U.S. Census Bureau, about 50% higher than the national rate.<\/p>\n

The Public Policy Institute of California, using similar statistical methodology, has found that a quarter of\u00a0Californians are either living in poverty or financially close<\/a>. More recently, the PPIC has explored the\u00a0impact of inflation<\/a>, especially on California families which struggle to pay for housing, food and other necessities.<\/p>\n

Sadly, this is just the beginning, because our economy is going downhill really fast.<\/strong><\/p>\n

In May, pending home sales plunged\u00a0to a depressingly low level<\/a>\u2026<\/p>\n

Well, the analysts had the direction right but magnitude was way off as\u00a0pending home sales plunged 7.7% MoM \u2013 the biggest drop since Feb 2021 (and below the lowest estimate), leaving sales down 0.7% YoY\u2026<\/strong><\/p>\n

This is the 29th straight month of YoY declines for non-seasonally-adjusted pending home sales.<\/strong><\/p>\n

This MoM decline pushed the Pending Home Sales Index back to record lows\u2026<\/p>\n

Meanwhile,\u00a0Zero Hedge reported<\/a>\u00a0that the Chicago PMI index fell so low in May that it suggested that \u201cthe economy is in a depression\u201d\u2026<\/p>\n

After unexpectedly\u00a0slumping last month to 37.9,<\/a>\u00a0the Chicago PMI index cratered even more unexpectedly in May, when it defied hopes of a rebound to 41.5, and instead tumbled even more, sliding to a cycle low of 35.4 which was not only below the lowest estimate, but was staggeringly low. To get a sense of just how low, the last two times it printed here was during the peak of the covid and global financial crises\u2026<\/p>\n

\u2026 which seems to suggest that at least according to Chicago-based purchasing managers, the economy is in a depression.<\/p>\n

I would agree with that assessment.<\/p>\n

Things are getting really bad out there.<\/strong><\/p>\n

To top everything off, in May the Dallas Fed Services Sector survey was in contraction territory\u00a0for the 24th month in a row<\/a>\u2026<\/p>\n

Despite\u00a0Bernstein and Biden demanding the great unwashed realize just how great they have it in America<\/strong>, this morning\u2019s Dallas Fed Services Sector survey offers some insights from actual real people in the actual real world trying to do actual real business\u2026 and it\u2019s not pretty.<\/p>\n

For two straight years (24 straight months), the Texas Services sector has been in contraction (below zero) with May\u2019s -12.1 print worse than expected.\u00a0For context, the Great Recession of 2008\/2009 also saw 24 straight months of negative prints\u2026<\/strong><\/p>\n

But if you live in \u201cwealthy America\u201d, you may not care about these numbers because you still live in a nice home and you still have plenty of nice things.<\/p>\n

Unfortunately, the number of people that can afford to live in \u201cwealthy America\u201d is shrinking with each passing day.<\/strong><\/p>\n

And the gap between the wealthy and the rest of us\u00a0just continues to get larger and larger<\/a>.<\/p>\n

Ultimately, the stage is being set for\u00a0a societal meltdown of absolutely epic proportions<\/a>.<\/p>\n

The\u00a0bottom 50 percent of the population only owns\u00a0just 2.6 percent<\/a>\u00a0of all the wealth, and they are becoming very restless.<\/strong><\/p>\n

When people have nothing left to lose, they become very desperate, and very desperate people do very desperate things.<\/p>\n

*\u00a0 *\u00a0 *<\/p>\n

Michael\u2019s new book entitled\u00a0\u201cChaos\u201d<\/a>\u00a0is available\u00a0in paperback<\/a>\u00a0and\u00a0for the Kindle<\/a>\u00a0on Amazon.com,\u00a0and you can subscribe to his Substack newsletter at\u00a0michaeltsnyder.substack.com<\/a>.<\/em><\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nWed, 06\/05\/2024 – 07:20<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/personal-finance\/during-great-depression-they-were-called-hoovervilles-today-americas-shantytowns<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

During The Great Depression They Were Called “Hoovervilles”, But Today America’s Shantytowns Are Called… Authored by Michael Snyder via The Economic Collapse blog, To those…<\/p>\n","protected":false},"author":0,"featured_media":1469474,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1469473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1469473","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1469473"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1469473\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1469474"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1469473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1469473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1469473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}