Wednesday, December 9, 2009

America without the Middle Class

Elizabeth Warren at the Huffington Post today describes, in no uncertain terms, just how quickly the middle class is disappearing from America- and how quickly our economy is beginning to look like that of Mexico.

I charge that this is no accident- but the willful sin of the investor class in an attempted coup of the government of the United States. A coup- may I mention, that is succeeding. And it's not just the US- Irish governmental employees are being asked to take 4%-20% pay cuts, as the masters become slaves. And we've all become slaves of the big banks.

I'm going to repeat what I think is the only reasonable way out: Repeal Article I Section 10 of the US Constitution, and let state governments issue currency, make their own trade treaties that fit *local* employment concerns, and separate themselves as much as possible from the big power banks in New York.

2 comments:

Eiko Onoda said...

>our economy is beginning to look like that of Mexico.

As the demography in the US changes drastically, this comment seems to be right more and more.

Ted Seeber said...

Demography covers skin color. The real problem is a huge gap between about $120,000/year in earnings and $125,000,000/year in earnings- and nobody in between that gap.

When that happened in Mexico, they soon had major inflation hit (in the 3-4 digit of percentage rate range) until the peso was worth nothing. Weimar Republic style. Which of course, for the rich, only makes them richer- and the poor, poorer, with no middle class at all.

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