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In a new
socioeconomic trend, divorce rates are dropping as couples who cannot stand
each other have become Hitched to the
Economy, not able to afford to split up.
The recession and
economic turmoil is creating a new class of casualties: Married couples who
can't afford to get divorced. In these tough times many people are finding
it's cheaper to stay together, even when they can't stand each other.
"The reason that the economy has such an enormous impact on divorce is
that most people in the middle-income brackets are getting by on whatever
income they have. They're just getting by," said Bonnie Booden, a family
law and divorce attorney in Phoenix.
Booden said one out of every two clients is seeking consultations because
they can't afford to get divorced. They want to know what other options they
might have. Some clients have split up bedrooms and continue to live in the
same house, she said. Some split child-care duties so they don't have to deal
with each other and live that way until they can figure out what to do. "And
I've had people who just throw in the towel and get divorces anyway, creating
financial ruin for themselves," she said.
Circuit courts across the country report downturns in the number of divorce
and separation filings. Cook County's Circuit Court in Chicago saw a 5%
decrease in filings -- about 600 cases -- in the first three quarters of 2008
compared to the same period last year. Similar drops were reported in other
cities across the country.
This domestic situation is also confirmed in a poll by the American Academy of Matrimonial Lawyers. The AAML surveyed its members -- all divorce lawyers -- and
found that 37% of them have seen a decrease in the number of couples seeking
a divorce, while just 19% saw an increase in divorce cases.
"We're in a perfect storm as far as the divorce business is
concerned," Nickelson said. "It's not a surprise to me. That's been
my experience over the last 35 years. When you have an economic downturn
people are not so quick to change their situation."
More People Giving Up
Pets
It may be too expensive to give up spouses, but as the economy falters, it's Too Expensive To
Keep Pets.
A growing number of
Americans are giving up their dogs and cats to animal shelters as the
emotional bonds between people and pets get tested by economic ones.
The population growth at animal shelters in Connecticut, Nebraska, Texas, Utah and other states shows how the weak economy is also shrinking the pool of
potential adopters. And it coincides with a drop-off in government funding
and charitable donations.
The effect has been cramped quarters for dogs and cats, a faster rate of
shelters euthanizing animals and some shelters turning away people looking to
surrender pets, according to interviews with several shelters and animal advocates.
"It's definitely discouraging for us," said Adam Goldfarb, a Humane
Society spokesman. "One of our major goals is to develop and celebrate
the bond between people and animals. It's so tragic when families reach a
point when they can't afford to care for their pets."
23-year-old Mel Bail of Worcester, Mass., had begun feeding leftovers from
family meals to her three cats -- Rory, Ozzy and Mudpie -- before recently
deciding to give them up. "When I couldn't pay my gas bill, I knew I had
to find another home for the cats," Bail said.
An Associated Press-Petside.com poll found that one in seven owners
nationwide reported reduced spending on their pets during the past year's
recession. Of those cutting back, more than a quarter said they have seriously
considered giving up their pet.
The average annual cost of owning a dog is about $1,400, while the average
annual cost of a cat is about $1,000, according to a survey conducted by the
American Pet Products Association. The survey suggests there are some 231
million pets -- excluding fish -- in more than 71 million homes in America.
In Omaha, Neb., the Nebraska Humane Society's shelter began tracking for the
first time this year those pets given up because of financial constraints. Through
mid-November, more than 275 pets were given up because their owners said they
couldn't afford to keep them.
The Society for the Prevention of Cruelty to Animals in Virginia Beach, Va., recently began a program called Help Out Pets Everywhere (HOPE) to provide food, medical
care and temporary homes for pets belonging to families with financial
difficulties. Eighteen applications were received within the first week.
"It's been devastating," said Amy McNally, a spokeswoman for the
program. "For somebody to say, 'I can't afford to feed my dog' -- it's a
humbling time."
The above stories
show yet another twist towards frugality that I have been talking about for
quite some time.
Frugality Recap
·
March
23: A New Phenomenon:
Haggling Over Prices
·
April 24: Cool to Be Frugal
·
August 10: The Future Is Frugality
·
August
26: Frugality Is The
New Reality At Citigroup
·
October 19: The Age Of Frugality
The real heartbreak in these stories are children living with parents constantly
arguing over money, perhaps having to give up their pet as well. Such
memories will stay with the kids for rest of their lives. Their attitudes
towards debt will be vastly different than the attitudes of their parents.
And changing attitudes towards debt, in both parents and children, are at the
heart of the issue as to why Bernanke is fighting a losing, as well as
reckless battle against deflation.
Mish
GlobalEconomicAnalysis.blogspot.com
Mish's Global Economic
Trend Analysis
Thoughts on the great inflation/deflation/stagflation
debate as well as discussions on gold, silver, currencies, interest rates,
and policy decisions that affect the global markets.
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