“Think of the American economy as a large apartment block. A century ago – even 30 years ago – it was the object of envy. But in the last generation its character has changed. The penthouses at the top keep getting larger and larger. The apartments in the middle are feeling more and more squeezed and the basement has flooded. To round it off, the elevator is no longer working. That broken elevator is what gets people down the most.” — Harvard University economics professor Larry Katz, on Americans’ downward economic mobility (a phenomenon that should be of considerable alarm if you own a casino). Now if only Katz could explain where the douchebagerie gets its seemingly inexplicable wealth …
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“Now if only Katz could explain where the douchebagerie gets its seemingly inexplicable wealth …”
– Perhaps you could check out the Congressional Record: When the US Senate was debating the bailout of General Motors and Chrysler, many Southern state Republicans demanded that the federal government refuse to help the companies unless their union contracts be amended down to match the lower wages and benefits paid by the foreign-owned, non-union auto plants in their states. The fact that the auto unions had already made huge wage concessions and had agreed to take over the auto makers’ pension obligations in order to help keep the US auto industry afloat; and that union contracts were the benchmark against which the foreign-owned assembly plants set their (lower) wages made no difference. The Republicans were out to break the unions – and facilitate the “race to the bottom” that we have seen for the American middle class.
Selfish? They would say no. After all, their Southern constituents were still getting paid “decent wages” (for now), and those greedy Marxist Unions would be put in their place…
But they would forget to mention the millions of dollars that they receive in their campaign funds from Toyota-America, Volkswagen-America, Hyundai-America, etc.
And don’t get me started on Republicans’ apologies to BP, and Angle’s (& others’) attacks on Obama for BP’s “slush fund” to cover the results of its negligence in the Gulf – where many previously “middle class” residents have had to apply for food stamps because their livelihoods have been swept away in a sea of oil.
Hmmm… I can just hear the response from the ReTeabagicans: “This is a great opportunity for Private Enterprise Small Business Entrepreneurs to Exploit Our God-Given Natural Resources without the Heavy Hand of Oppressive Government Regulation by Harvesting Nature’s Bounty” Translation: Gather up some BP tar balls, form them into Ronald Reagan sculptures, and sell them at the next Tea Party Convention.