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New Depression

from Roots & Branches by Darryl Holter

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lyrics

Economy. Some say it’s fine
But we’re falling though the bottom line
Retirement plans are lying in the gutter
Homeless population grows
Working families lose their homes
Days of living comfortably are numbered
Welcome to the New Depression
A lot of folks are falling through the cracks
I don’t think it’s natural selection
Or just a case of not knowing all the facts
Finance companies pumped their egos
When Congress killed Glass-Steagal
But banks too big to fail learned how to cheat us
We knew we needed stimulus
But Congress wouldn’t help us out
We needed John Keynes but they gave us Milton Friedman, Milton Friedman…
What are the people supposed to do
When all their money goes for rent and food
With nothing in their pockets left to spend
I thought I found the magic key
When I read Thomas Piketty
But I only got to page two hundred and ten
Welcome to the New Depression
Where inequality rules the land
Economists, please run some more regressions
While we pray like hell for the invisible hand
I used to think that all our kids / could end up better than we did
But now it seems like we are in decline
I thought we lived in a land / where people lent a helping hand
To those of us who were falling far behind
Welcome to the New Depression
Remember that old Carter family song?
They said, “We’re going where there’s no Depression”
But do we have to die to come along?
Welcome to the New Depression

credits

from Roots & Branches, released April 23, 2021

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Darryl Holter Los Angeles, California

Darryl Holter grew up playing the guitar and singing country and rock and roll songs in Minneapolis, Minnesota. His current brand of Americana music draws from country, blues and folk traditions and often tells stories about people, places and events.

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