Vanishing Point

A decade ago, there was much hue and cry about the vanishing middle class. Jobs were being “out-sourced” to overseas slave labor markets, illegal immigration was forcing wages and salaries down, old line “smoke stack” industries were crumbling under the weight of foreign competition, and technology was replacing manpower. The rich were getting richer, and the poor were getting poorer, and there wasn’t much in between.

Now, looking back, those were the good old days. Today, due to an global economic collapse, even the overseas slaves are loosing their $2-a-day jobs. Whereas a few years ago, people were flocking to big box stores like Costco to stock up on heavily discounted staples like bread, milk,  rice, and 30-pound bags of M&M’s, now people are lining up 10 deep in the same stores just to get the free sample of pita chips and hummus. Gotta eat something.

Friday’s “jobs report” was sobering. The so-called economic recovery ground to a halt in July as only 31,000 jobs were added to the private sector. In fact, there was a net loss in jobs. Here is the reality:

– 83 percent of all U.S. stocks are in the hands of 1 percent of the people.
– 61 percent of Americans “always or usually” live paycheck to paycheck.
– 66 percent of the income growth between 2001 and 2007 went to the top 1% of all Americans.
– For the first time in U.S. history, banks own a greater share of residential housing net worth in the United States than all individual Americans put together.
– In 1950, the ratio of the average executive’s paycheck to the average worker’s paycheck was about 30 to 1. Since the year 2000, that ratio has exploded to between 300 to 500 to one.
– The top 1 percent of U.S. households own nearly twice as much of America’s corporate wealth as they did just 15 years ago.
– More than 40 million Americans are on food stamps.
– Approximately 21 percent of all children in the United States are living below the poverty line in 2010 – the highest rate in 20 years.
– Despite the financial crisis, the number of millionaires in the United States rose a whopping 16 percent to 7.8 million in 2009.
– The top 10 percent of Americans now earn around 50 percent of our national income.

And, of course, the irony is that that top 10% of Americans who earn 50% of our national income are, in large part, the same swindlers who’s greed and avarice caused the economic melt-down in the first place. And what is the Republican party’s response to this disaster? They want to extend the Bush tax cuts so that Goldman Sachs, et al, can keep a few billion dollars more of their obscene profits, while the hard working wage earner can pocket an extra 400 bucks.

To be fair, the Obama administrations response to the collapse was weighted heavily in favor of Goldman Sux and Shitty Bank as well. Exactly where are all those high paying jobs we heard were going to be created by TARP, you know, the ones rebuilding dilapidated bridges, spraying Round-Up on Mount Rushmore, and shoring up decaying infrastructure? Oh yeah, that didn’t happen.

But at least the Repugs know who their constituents are, and unlike the Dims, they’re out to reward them. Look at the above statistics: millionaires actually constitute 16% of American society, and they vote. And once that the tea baggers and the rest of the boobgeosie are convinced that the tax cuts, like gun ownership and homophobia, are part of God’s sacred covenant, these millionaires will be laughing all the way to the bank. The one they own.

 

7 thoughts on “Vanishing Point”

  1. I was going to make a crude comment about what the stuff they trickle down onus actually is…..but I’m sure everyone reading your post Stacy, can use their imaginations.

    Yeah….please, let’s keep the Bush tax cuts in place too. We don’t want to overburden the uberwealthy with such worries as paying taxes. Let’s leave that to us peasants who are should just be grateful when they “trickle” down on us.

  2. Mac Daddy, I can remember back in the late 1980’s and early 1990’s that you Mac Daddy, the oracle of Alpine over the air waves clearly exposing the dangers to the United States of America concerning NAFTA the only one locally. Nearly 20 years into this piece shit treaty (NAFTA) it’s all bull shit. Yet the only voices that you are allowed to be heard over the airwaves now are the pimps for NAFTA. The United States of America currently has as much substance as some bull shit British Petroleum (BP) advertising campaign.

    Now these fucking bought off right wing talk show hosts and all elected political representatives will have to deal with Newton’s second law dealing with momentum or in other words we are fucked or in the navy you would hear brace for shock over 1MC. So as the standard of living in the United States starts rapidly decreasing and minimum wage jobs represent the middle class that is when the momentum will be absorbed. There is no immigration issue once minimum wage is considered middle class Shazam. In the words of Robert Zimmerman “How does it feel to be on your own with no direction home”.

    In the end the Bush’s, Clinton’s, and Obama will chant that of course everyone knew that NAFTA would create this new world and if you do not like you should have not voted for it. The only redeeming factor is when that time comes they will no longer need the right wing radio machine their job is done.

    BTW there hasn’t been; two political parties in the United States Since November 22, 1963 that was the moment that it became a single political party system with two names for the ignorant.

  3. Do you ever feel like that persestent hampster, spinning that big wheel to nowhere? Well Bubbie, that wheel has someone else in with you, running in the oposet direction. I see no way off this never ending cycle of doing the same thing over and over, expecting a different outcome. When talking with a person who’s, figured it all out, seems rational,not a religeous nut case and agrees with me, I feel better, for a second, but then, shit comes raining out of the sky fromf one nut case after another.

  4. When asked about two regrets he had during his presidency, Bill Clinton said that his two greatest policy regrets were NAFTA and welfare reform. So, NAFTA is something even Clinton is aware of being a failure…and welfare reform is just ridiculous. [

    I honestly don’t know who can look over the last 40 years of politics and not see that Dems, despite the spending, have been the only ones to manage having balanced budgets. GOPrs think Ronnie was such a great president, but what is that based on? In reality, Rappin Ronnie was barely conservative. They choose to live in the fantasy world when it comes to job creation and job losses. Of course tax cuts won’t work, they never have. Even Dubya’s people have admitted this much, yet the GOP is hell bent on proving us all right some more. How many Paul Oniells and Alan Greenspans do we need to tell the sheep-like tea party followers that not only are they not taxed enough already, but some of the very people they aims to protect in this fight, the rich…have found multiple ways to not pay at all in some cases? Would knowing the truth about some of our biggest corporate entities upset them enough? Or would they still blame unions and regulation?

    Some of the very companies that have shipped jobs overseas never used union workers. How do you reconcile that one? And some of the more efficiently run companies that have stayed and still either make profits or if they are non-profit thrive actually use unions.

  5. The people that were working for the census have now all been laid off, making the job forcast even worse than it was before. Not to worry though, they should all qualify for unemployment! When and where are all these new jobs coming? Since the forclosure rate is headed back up, for a lot of people it’s already too late..