No Surprise Here

The Pew Trust, I believe, summarized a study documenting the dissolution of the middle class in the United States. Since 2000 the information has been grim for anyone not in the 1% sector of wage earners. Respondents were queried and responded that it is much more difficult now to maintain their former middle class life style and very few had any optimism for the future. Since 1979-80 wages for virtually all jobs in the US have remained at a standstill, showing an increase of less than .5% per year since 1979. Yes, less than 1/2 of 1% wage increase in more than three decades. Unemployment is stuck at more than 8%, consumer spending is down and the economy is marooned on a reef of stagnation.

Looking at other sectors of the economy, what do we find? Increasing income disparity between most people and the top 1%. From controlling around 9% of the country's wealth in 1979 the 1%ers now control more than 25%. Corporate profits are at all time highs with tens of thousands of good paying jobs shipped overseas so corporations can show more profit, wages are being cut even as CEOs and boards increase their own compensation, shareholders demand quick profits at the expense of the middle class and long term economic prosperity, union jobs have drastically declined in 30 years. These blue collar people were always the backbone of economic growth in the US consumer economy. Corporations are sitting on trillions of dollars of capital and are unwilling to pass any gains on to workers or stimulate hiring despite being able to afford the wages. The consumer spending is stuck because companies are firing, governments are firing, wages are declining, unions are destroyed and all the while the corporate moguls are riding high.

It is painfully obvious what needs doing. But where is there a politician with the courage to say so? Certainly not the R/R ticket which is intent on railroading America into economic extinction and return the middle class to the horrors of 19th century capitalism. Middle class people who support the Republicans are dooming themselves and their kids to a faster decline in living standards. We are rapidly returning to a two class society: the Haves, as exemplified by the Republicans and their ridiculous presidential ticket, and the rest of the working people of this country who actually made it great.

Sad.