Monday, September 17, 2018

Telly Davidson - Meltdown 2008: A Grim Anniversary for the Middle Class

The destruction wrought by our political and financial elites could take another 10 years to undo.

Last week the American Conservative ran an article about how tough it was now for the upper middle clasess. Their wages may be okay, but their jobs were harder than ever and their bills were increasing, so much so, that after for paying for everything they didn't have much spare cash for an emergency. 

This week in the American Conservative it's now the younger middle class that are complaining. The 2008 meltdown shattered their dreams, they say, all the hard work they have put in, their privileged upbringing, their excellent qualifications, their high expectations, all in ruins. They blame everything on the "greedy" elites, and they are right.

It's so good to see the upper middle classes and the middle classes complaining like this, because this means there's a chance of the left and right working together to change the situation. Conservatives traditionally nearly always followed the establishment, but now they are getting fed up with it.

Thatcher and Reagan said there was going to be a free market revolution, and I guess millions of people voted Conservative thinking they would become better off, but the opposite has happened. We in the left warned them, but they wouldn't listen. KV.

During Obama’s first term, the top 1 percent took more than all of the gainsfrom the economy after the crisis. Meanwhile, at least 9.3 million families lost their homes to foreclosure due to the mortgage meltdown. For many Americans, the financial and psychological damage will be lifelong.
No, there would be no Mueller Time for the Wall Street and Big Auto execs who created this mess, no prosecutors or indictments and no-knock raids forcing them to open all their books in a court of law. Forget about too big to fail. The real takeaway for the all-but-destroyed middle class was that these Masters of the Universe were too big to JAIL.  
It was that groovy 1970s grandpa and founding father of reality TV Allen Funt who said that his classic Candid Camera show “caught people in the act of being themselves.” That’s exactly what the Meltdown of 2008 did for our ruling class. It caught them in the act of being their true selves—except there was nothing funny about it because the joke was on us. And the prize package at the end of the show didn’t go to the ones who desperately needed the money, but to those who were already winners on the game show of life.
The American Conservative

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