Time Magazine posted a somewhat lighthearted hodgepodge of "Top 10 Signs of a Troubled Economy and/or the Apocalypse" on its website on July 9. Surprisingly, at the number one spot ("New Yorkers are sharing"), author Brad Tuttle cited the rise of collectivism, a liberal idea, as the biggest "sign:"
"'The modern collective is more about pragmatism than altruism,'" Tuttle wrote. "It's about networking and experiencing new things, it's about saving time, money, and space and it's about consuming less."
At the number two spot, Tuttle cited a lack of labor strikes, another activity : "In 2009, however, when the Great Recession took hold, unemployment topped 10%, and everybody feared for their livelihoods and lived more frugally, there were only five major strikes. That's the lowest figure since the U.S. Labor Department began tracking these numbers, in 1947."
Tuttle also maintained the media trend of jabbing the health care industry by listing a woman who underpaid her health insurance premium by 1 cent and nearly lost her health insurance and a Michigan woman who shot herself to receive "health care" health treatment at numbers 8 and 9.
Other more humorous "signs" included Chick-fil-A's free meal giveaway to anyone dressed like a cow, people getting married at TJ Maxx, Home Depot, and Taco Bell, and an unemployed woman offering $1,000 to anyone who can find her a job.
Like this article? Sign up for "The Balance Sheet," BMI's weekly e-mail newsletter.
