Tuesday, October 22, 2013

AMERICAN HORROR ~ BROKE AMERICANS SELLING their BREAST MILK, BLOOD, HAIR & KIDNEYS






More and more Americans are turning to selling their hair, eggs, breast milk, and even kidneys to earn money to survive. It's testament to how difficult these economic times are, and how willing people are to do anything to survive. The Resident (aka Lori Harfenist) discusses.

Out of work for more than two years and facing eviction from her home, Hare recalled Louisa May Alcott's 19th-century novel and took to her computer.

"I was just trying to find ways to make money, and I remembered Jo from 'Little Women,' and she sold her hair," the 35-year-old from Atlanta said. "I've always had lots of hair, but this is the first time I've actually had the idea to sell it because I'm in a really tight jam right now."

The mother of two posted pictures of her 18-inch auburn mane on www.buyandsellhair.com, asking at least $1,000 and receiving responses within hours. Hare, who also considered selling her breast milk, joins others exploring unconventional ways to make ends meet as the four-year-old economic expansion struggles to invigorate the labor market and stimulate incomes.

In all but two quarters since the beginning of 2011, "hair," "eggs," or "kidney" have been among the top four autofill results for the Google search query, "I want to sell my...," according to Nicholas Colas, chief market strategist at New York-based ConvergEx Group, which provides brokerage and trading-related services for institutional investors.

While Americans can legally sell hair, breast milk and eggs, the sale and purchase of a kidney in the U.S. is against the law
At Shady Grove Fertility Center, which has offices in Washington, Virginia, Maryland and Pennsylvania, about 13,000 women will apply this year to be an egg donor. That's roughly a 13 percent increase from 2012, Ali Williams, marketing assistant supervisor at the fertility center, said in a telephone interview.

The clinic's own survey last year showed that 65 percent of women said there was at least some financial motivation in deciding to donate their eggs. As few as 3 percent become actual donors due to a strict screening process and lengthy time commitment associated with egg donation.

The slow pace of economic recovery, exacerbated by higher taxes and across-the-board federal spending cuts this year, has soured attitudes among U.S. households. Some 54 percent of Americans say their incomes have "hardly recovered at all" from the recession, according to a September survey by the Pew Research Center in Washington.
Labor Sentiment

Sentiment regarding employment opportunities is similarly bleak, with 52 percent saying the job market has barely recovered since the recession, Pew's survey shows. Payrolls are still down 1.9 million employees from the January 2008 peak, according to Labor Department data.

Such figures help explain why some Americans are seeking unorthodox ways to supplement their incomes. Hare, who has a 4-month-old son and 7-year-old daughter, researched selling her breast milk online after seeing she could make as much as $5 an ounce.

"These are tough times," said Hare, who was last employed as a showroom sales manager at a wholesale trade center. "The rich are getting richer and everybody else is losing their jobs and their homes. It's just terrible."
Household Income

Median household income, which includes wages and investments, has fallen every year for the past five after adjusting for inflation, according to data from the Commerce Department, with Americans earning less than they did in 1996.

Gains in worker pay have lagged behind the previous recovery. Wages and salaries, unadjusted for changes in prices, have climbed at a 3.2 percent annualized rate since the economy emerged from the recession in June 2009, trailing the 4.5 percent pace in the four years after the 2001 slump.

While the sale of kidneys is limited to the black market, the organ could fetch $15,200 if legal monetary incentives for donations were introduced, according to 2007 research by University of Chicago economics professor Gary Becker and Julio Elias, then an economics professor at State University of New York at Buffalo.
Unemployment Benefits

Such a decision may be influenced by a labor market that's struggling to improve and unemployment benefits that are running out. The jobless rate has been above 7 percent since the end of 2008. The share of unemployed Americans out of work for 27 weeks or longer was 38 percent in August, more than double what it was before the end of the last expansion, according to Labor Department figures.

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