I saw these pictures on my FB newsfeed by two different friends.
I finished reading Robert Reich's Aftershock. The main issue he addresses in this book has been on my mind lately, as I watch what's been happening politically and economically in this country. It's a good read that provides an overlooked perspective on why the American economy sucks right now. I'm going to do the book a disservice by giving this overly simple summary, but basically the gist of the argument is that this economic mess was not created by Americans living beyond their means because they had unbridled access to credit (this part I might partially have to disagree with), but because of the widening socioeconomic inequality that has been going on in this country for the past few decades. For the average American worker, wages have increased little, even flatlining, while productivity in the workplace has increased due largely to improvements in technology. Increased productivity benefits CEOs and the companies they run, but not necessarily American workers for the reason stated above. In order to fulfill higher costs of living and counter stagnant wages, Americans spend more time working. Unchanging wages+higher costs of living=Americans saving less to buy a middle class lifestyle. Credit plays a role in this by making things seem more affordable and by creating an illusion of wealth. In 2008 when housing prices began to first level out, then decline, many Americans came to realize they were screwed because families had refinanced their homes in order to gain access to more credit. So now not only did they have mortgage debt, they had consumer debt. And for many people, the most valuable asset--their house--was now worth much, much less. But this entire dynamic is a symptom of the true root of our economic problems, and not the cause. The cause is a set of policies that have come to favor the rich while ignoring, even putting the middle and lower classes, at an economic disadvantage.
We seem to be a society favoring patterns of divergence, and by that I mean not only has our political system come under stress from two increasingly divided ideological camps that have less and less to agree on, our society is splitting off into two groups of haves and have-nots. We resemble an hourglass--the rich people at the top are becoming richer, the poor people at the bottom becoming poorer, and the middle class moving into one of these two categories. Unfortunately, moving downward seems to be a more likely scenario.
The American dream is a joke. I'm very disturbed to see how increasingly difficult it has become for people to make a decent living in this country. We work longer hours, but more and more people hate their jobs. It's almost an anomaly nowadays to find someone who can tolerate their job, let alone like it. We are an anti-middle class country. Look at all this backlash against the public sector and unions. Unions are organizations that are supposed to provide protection to the average working man, yet we allow politicians to dismantle them. Private sector employees shouldn't be looking at the public sector and complaining that people in this sector have overly robust benefits. The private sector should be demanding these types of benefits. We can't have what they have, so they shouldn't have it? Politicians are trying to eliminate social programs where the middle class are the largest group of recipients and prolonging regressive tax policies, like the estate tax, which benefit wealthy Americans. (Reich) Big companies like Procter and Gamble are beginning to develop products and marketing strategies aimed at the upper class because it realizes the middle class--traditionally the most voracious consumers of their products--cannot afford to spend anymore. I'm not lying. This was published in a Wall Street Journal special report, which I didn't read because I would have had to pay for it.
Doesn't this make you shake your head? I think it's wrong to think that as long as you're doing ok then you shouldn't be discontent. It's very dangerous to live in an inequitable society. Countries with high levels of inequality are often the most unstable and violent. This is not about altruism. Even thinking about it in the most self-interested terms, you can't enjoy your own wealth when you're constantly fearful about the angry poor. They will break down your doors, revolt, and cause massive instability. So even if you don't care about the have-nots--maybe you even feel they deserve to be where they are--be discontent. Be discontent that you live in a society where the poor are severely disenfranchised and downtrodden, and the rich live unflinchingly, unsympathetically, in their own little champagne and yacht-filled bubble. If you are the only one well off, then what does it matter?
It's tough to be optimistic, living in a society like this. I try to tell myself it's not hard to be happy, but I guess you can only be happy if your own situation is good and you ignore much of whatever else is going on around you. I'm worried for my generation. We're lost on so many levels, and I think in the long run this economic downturn is going to hit us most adversely. When the debt piles up to a point where we can't not pay it back anymore. When we won't be able to access the sad safety net we call Social Security because we spent our tax dollars paying for the Baby Boomer generation to use it and have nothing left for ourselves. When living with our parents is no longer an option and we're dissatisfied with where we are in life, thinking we would be much bigger than what we've become.
I don't really know what the fix-all to all this is. There probably isn't one. But I can't stop thinking about it.
