Wealthiest nation in the world.
It’s no wonder our middle class is number one in the world!
As the chart above clearly shows, America’s median income is the best in the…
We are not number one? Or two, ten, or twenty?
According to this, America is #27. Our middle class is being beaten by the likes of Germany, Canada, and Switzerland. Topping the list is Australia.
But how can this be? Our economy produces hedge fund managers that earn more per hour than the average family earns in two decades!
Surely, that kind of wealth is trickling down!!
So, why aren’t we drenched? Hell, at least misted?
- Healthcare: We continue to pay more while becoming no more healthy. And becoming seriously ill lands many in bankruptcy court.
- Minimum Wage: Our wage is indecent in comparison to the likes of Canada ($9.75), New Zealand ($11.18), and Australia ($16.45). So much for claiming the top spot, again, right? Not to mention that many other developed nations provide a month of guaranteed paid vacation time on top of paid sick days.
- Wall Street: Has gone wild. Enough said.
- Tax Structure: Our code favors the wealthy with loopholes, tax havens, ridiculously low capital gains taxes, etc.
- Higher Education: The more you know, the more you owe. In America. Our counterparts are offering higher education practically tuition-free.
So, yeah. No drenching, no mists, no trickles.
I think we were… PUNK’D!
Financialization. (Note when the two began to split.)
Financialization means the increasing role of financial motives, financial markets, financial actors and financial institutions in the operation of the domestic and international economies. – Economist, Gerald Epstein
Financialization was labeled the most important factor in our stagnant middle class. Deregulation of the 80’s has given rise to a whole host of problems.
It “made shareholder value the ultimate goal.”
Hedge fund growth began destroying the “productive wealth” in the economy.
“Too big to fail” institutions were created, and basically granted license to gamble with the economy.
Barely regulated world markets became responsible for financing globalization.
Why don’t we know how throughly we were played? Good question.
Wealth dominates the media. The idea of conservative media or main stream media is foolish. There is but one media. Corporate media. And do we honestly believe that the guys ripping us off will tell us that they are doing so? Pfft. Just go back to fake scandals and Hollywood hook-ups, if you please.
Here’s another good question. Why aren’t we working, with due diligence, to reverse this?
Wealth dominates our politics, it is true. Corporate lobbyists are boldly buying representatives and co-authoring legislation. They are using their extreme wealth to their advantage. Who needs or wants a level playing field when pulling in the kind of dough they do?
They are buying the team, the field, the equipment, the concession stand, and referees. But that is not all they are buying. It seems they have also purchased quite a few fans.
There are actually those among us who don’t realize or acknowledge that they have been, are being, and will continue to be fleeced in this economy. They believe more corporate freedom is an appropriate action. They believe, and loudly regurgitate, policy that will only serve to keep them from ever seeing the trickle they so patiently await. To do anything else would make you a “taker”. They have difficulty separating who built that from who purchased that.
Looks like there is nothing left to do, but sit in the stands and clap.
Uhm, .. no.
The first thing we can do is recognize this for what it is. Class warfare.
Next, we need to forget about changing the minds of the purchased fans. If the past few years haven’t demonstrated the damage deregulation causes, nothing will. The information about corporate greed destroying the economy is out there, and it is plentiful.
Protest what is being done. You don’t necessarily have to stand in a picket line. Petition. Support local businesses over big box chains. Start a garden. Use the services of a local credit union in lieu of a banking institution.
Most importantly, instruct and supervise your elected officials, while keeping an eye out for their replacement.
- Republicans: we will not tolerate your policies of carrying the rich on the backs of the poor.
- Tea Party/Libertarians: Atlas Shrugged is fiction.
- Democrats: the pretty words are nice, but the time has come to try on a backbone, thank you very much!
- Progressives: Come out, come out..wherever you are.
They need to know this is our game, too. Comply or face ejection. Period.
Because… We’re #27… is pathetic! As a standing and a chant!