Archive for the ‘US economy’ Category

Income inequality aka class warfare

Posted by G.A. Matiasz on July 19, 2014

Here are two takes on income inequality in this country, both of which are underscored by the reality of class warfare. First, John Oliver’s piece on his HBO show “Last Week Tonight“:

And then there is this cartoon “A Formula for Inequality, Told in Four Generations,” a “Tom the Dancing Bug” comic strip by Ruben Bolling:

Ah, for the good old Class War Federation and their words to live by: “No war but the class war!”

Posted in capitalism, class war, economics, life, US economy | Tagged: capitalism, class war, economics, income inequality, John Oliver, Last Week Tonight, No War But the Class War!, Ruben Bolling, Tom the Dancing Bug, US economy, US income inequality | Leave a Comment »

State of Working America

Posted by G.A. Matiasz on October 31, 2013

The Economic Policy Institute is a left-of-liberal think tank that publishes The State of Working America, now in its 12th edition. This 500 page, incredibly well documented tome contains a mass of information on income, wages, jobs, mobility, wealth and poverty, along with tables, charts and graphs, essentially making the argument that for the last few decades income inequality has increased, wages for working Americans have gone down, jobs have been decimated or converted to low-paying service employment, social mobility for those in the middle and lower classes has rigidified, and “the rich have gotten richer and the poor have gotten poorer,” to quote an old phrase.

The EPI also makes policy recommendations: support workers rights and union organizing, increase the minimum wage, fight against “free trade” agreements like NAFTA, increase spending on the social safety net, etc. The EPI in general and The State of Working America in particular, provide all the factual ammunition you’ll need to fight and win your arguments against your conservative, moderate, or even liberal friends, not to mention make the case for building a democratic socialist United States.

Posted in democratic socialism, economics, jobless recovery, labor unions, life, Marx, United States of America, US economy, US middle class, US ruling class, US society, US working class | Tagged: decline in wages, democratic socialism, Economic Policy Institute, economics, income inequality, increase minimum wage, increase social safety net spending, jobless recovery, Karl Marx, labor unions, lack of social mobility, loss of jobs, Marx, oppose "free trade", organize unions, poverty, rich get richer and poor get poorer, State of Working America, United States of America, US economy, US middle class, US ruling class, US society, US working class, workers, workers' rights | Leave a Comment »

Ladies and gentlemen, the vanishing middle class

Posted by G.A. Matiasz on October 29, 2013

It’s a set of platitudes mouthed by all American politicians everywhere, that “the middle class is the foundation of this country’s prosperity,” that Washington “is doing everything possible to strengthen the middle class,” and that “the future looks bright for the American middle class.” Absolute hogwash! Here are a few more charts and graphs, thanks to the Business Insider:

Nothing up the sleeves of the American ruling class, except for the demise of the American middle class.

Posted in capitalism, jobless recovery, life, politics, United States of America, US economy, US middle class, US ruling class, US society, US working class | Tagged: capitalism, erosion of US middle class, income gains since Great Recession concentrated at top, jobless recovery, median household income declines over past 13 years, share of middle class income in nation declining for decades, United States of America, US economy, US middle class, US ruling class, US society, US working class | 1 Comment »

Then there’s that “recovery”…

Posted by G.A. Matiasz on October 29, 2013

The “jobless recovery,” the “prosperity-less economy,” the “homeless recovery;” it’s a goddamned phony economy. Here are some facts and figures, presented in easy to read graphs and charts:

Posted in capitalism, jobless recovery, life, politics, United States of America, US economy, US middle class, US ruling class, US society, US working class | Tagged: bank profits reach record highs, capitalism, food service & retail & employment services account for job growth, highest CEO-to-worker compensation ratio, hispanics lost most wealth & whites lost least during recession, jobless recovery, massive job losses in recession, mid-wage jobs not recovering, only 13 states w/employment at or above pre-recession levels, real average hourly wages decline, recovery boosts only 1%, stocks & profit rally leaving workers behind, the rich get richer & the rest get poorer, too big to fail now even bigger, United States of America, US economy, US middle class, US ruling class, US society, US working class | Leave a Comment »

USA! We’re Number One!

Posted by G.A. Matiasz on October 29, 2013

It’s official. The United States is #1 at creating rich people. Here’s the chart (based on this study):

The consequences of this “wealth creation” is an ever widening gap between rich and poor, the decimation of the American middle class, the potential for societal segregation, social unrest and class warfare that is exacerbated by such class dynamics. This income gap is the highest since the “Roaring 20s.”

What’s more, even prominent moderate-to-liberal individuals are beginning to see this as a problem.

Then, there’s so many other ways that the United States excels at being #1 in very bad shit. Here are the graphic representations, including the first one mentioned above:

Makes you fucking PROUD to be an American! Third World Banana Republic, here we come!