Tuesday, March 24, 2009

Modern-day Hooverville

In Sacramento's tent city, a torn economic fabric

A tattered encampment of 200 men and women along the American River is a vivid symbol of a financial crisis otherwise invisible to most Americans. Officials say they will shut it down within a month.

The Depression had Hoover-villes. The energy crisis had snaking gas lines. The state's droughts have empty reservoirs and brown lawns.

But today's deep recession is largely about disappearing wealth -- painful, yes, but difficult to see.