Lead, Follow, Or Get Out Of The Way
Sunday, February 21st, 2010All that is changing now. Actually, it’s been changing for thirty years, but now it’s really crashing down hard. During the middle part of the twentieth century a literal new deal was struck in American society, in which for the first time the masses would get a moderate share of the pie and the fantastically wealthy would be reduced in economic stature to being merely hugely wealthy. But, after a while, the greediest amongst us decided they’d had enough of that tough bargain and, circa 1980 or so, the empire struck back. The American plutocracy hired Ronald Reagan and his party to undo the provisions of trade, labor, tax and welfare state laws that propped up the newly created middle class, and the ground underneath most Americans’ feet has been eroding ever since. It was actually much worse than what people thought all along, because much of the pain for the middle class was eased by sending wives to work earning a second income, and stealing from their children via budget deficits.
Now comes the triple whammy of the apocalypse, as the products from these policies come home to roost in a serious way. First, deregulating everything in sight so that the rapist class could have its unfettered way with all of us has produced the inevitable reckoning with reality now screening in your neighborhood as “The Great Recession”. Second, the unsustainable pattern of profligate borrowing has become – go figure – unsustainable, and we are now seeing the beginning of serious movements toward reeling back spending on popular government programs, just when they are needed most. And third, the structural changes that have been promulgated over the last three decades leave most Americans poorly positioned to even hope for a path to economic recovery. Roughly speaking then, the middle class have been tossed out of the plane, their primary parachute was defectively fabricated by a deregulated corporation trying to save money on production, and their emergency chute was stolen out of the pack and sold on the black market called Wall Street.
via The Regressive Antidote – Lead, Follow, Or Get Out Of The Way.
Excellent read – as usual from David Michael Green.
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