The Long Crisis

Here is a grim overlooked indicator that strips away the happy green shoots talk out of Washington and fractures the less bad is good crowd’s nonsense while being a sad indication as to just how bad living conditions are becoming for even formerly middle class families.

Across the nation counties are experiencing unprecedented increases in the number of unclaimed deceased. Not only because the dead person could not be unidentified, was indigent or was estranged from their family, but apparently because more people simply cannot afford to bury or cremate their deceased loved ones.

“People were picking the bodies up last year,” says Albert Samuels, chief investigator at the Wayne County Medical Examiner’s Office in Michigan, which includes Detroit. “Across the board, I’m finding the numbers are on the rise of either families who are not coming forward to claim bodies or they’re signing releases saying they can’t afford to bury someone, which taxes the county resources because then the county is responsible for burying these people.”

Note that this headline uses the word “depression”. While the word is completely avoided by a hard working President Obama, Ben Bernanke, Timothy Geithner, all of the MSNBC cheerleaders, and their like, it is important that you do not make the mistake of thinking that the current downturn is simply a recession that is a little deeper and longer lasting than most. Your financial survival may depend upon it.

We are in a super deflationary cycle that will in time , probably a lot of painful time, correct the high debt and high leverage excesses of the past 60 years. The unclaimed dead body indicator may be unpleasant to think about but it should be a reminder as to how grim this long crisis is apt to be.

At some point, probably very late in the cycle, even the cheerleader in chief, President Obama, will be forced to use the dirty depression word. Or maybe not. Obama will likely be out of office for quite a few years before the deflationary cycle has fully run its’ course and the risk and fear shifts to hyperinflation. A smart politician like President Obama, with the support of Team Obama, can probably manage to deny the existence of a depression until he is out of office and then will blame it on the other guys both past and present.

President Obama can take lessons from former Fed Chairman Alan Greenspan as to how to deny any responsibility for the obvious.

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