Sunday, June 02, 2013

The Dissolution of the West

James Corbett and Paul Craig Roberts discuss.

Along these lines, Robert Reich addresses the current rah! rah! media reporting on economics. As if everything is great now, for everyone. Please. Since when does the stock market reflect the daily reality for most Americans? That's right, pretty much never. The stock market is roaring currently, because things are great for corporate profits, and therefore the investor class. But that's not most of us! The reasons profits are great for many large corporations is because of their cost-cutting measures (lay-offs) and continued exporting of jobs to the third world. They can do this unimpeded, because not only does Congress not stop them from doing so, they are handsomely rewarded for doing so, with tax breaks, rebates, etc.

This does not translate into boom times for the rest of us (sorry, trickle-down is a gigantic lie). We now have a massive group of long-term unemployed citizens who can't find work, or who can't find a job that pays anything. And contrary to repug delusions, fast-food restaurants don't hire multi-degreed fifty-somethings. I keep reading that the housing market is humming along again and I think, who the hell is buying these places? In my rural area, and in the nearby small communities, I see a different small/family business close every other week, including family dental practices. (Who can afford professional dental maintenance except for retirees and the professionally employed who still have income and health coverage!)

Reich is basically saying hey, not so fast. And I'm saying that the same folks trumpeting recovery now are essentially the same folks who got everything so very wrong leading up to the 2008 worldwide crash. Which, I might add, many of us haven't recovered from. You may consider me to be a doomsayer, and that's your choice, but I'd rather plan for bad times and be pleasantly surprised if they don't come to pass, than live in a delusional corporate media bubble that pops with a deafening roar, leaving in its wake a shell-shocked populace unprepared for a harsh new reality.

Postscript: See also "The Truman Show Economy".


Blogger Father Tyme said...

The people who think things are getting better are those who haven't been as affected as most of the rest of us.

But just watch them bitch and moan when they have to sacrifice just a little more than they feel the need to. 'cuz they are the upper putons and shouldn't have to associate with those beneath them.

Yeah, A recession is when someone you know is unemployed:
A depression is when YOU are unemployed. - Don't know who but it's a great line.

3:28 PM  
Blogger Anna Van Z said...

Sounds about right! As someone who has been job hunting for a year, I can tell you there is very, very little out there, at least in the non-profit world. And it's worse in rural areas like mine.

At this point I'd feel lucky to find a 30k job, which is kinda sad considering how much I indebted myself to get an education.

And that education makes getting lower-paying jobs just as difficult - no one will hire me for file clerk jobs, even. "Over-qualified".

12:55 PM  

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