That racial stereotyping hides the real cause and scale of economic damage to blue-collar and white-collar Americans families amid the rising wealth of the technocratic globalized elite which dominates the Democratic Party and at least half of the GOP.
.. That government failure is exemplified by the housing bubble, which destroyed a huge percentage of wealth held by black Americans.
A 2011 report by the Pew Research Center showed that the median wealth of black American households dropped by 53 percent because of the property bubble. The mid-point median of black American wealth crashed from $12,124 in 2005 to just $5,677 in 2009, according to the Pew report.
.. White Americans suffered far less from the bubble because many had already paid off their mortgages, because their debts were a small percentage of their income, and because whites had more assets in the stock market and other sectors outside the housing market. Still, the median wealth of white households also dropped by a huge 16 percent, from $134,992 in 2005 to $113,149 in 2009.
.. Meanwhile, wages for all men have remained flat for the past 44 years since 1973, according to the Census Bureau.
.. when Obama settled into the White House during the housing implosion, his economic policies helped very clever people invest their way back up to more wealth. The New York Post described the process:
The years 2008 through 2015 should be known as the Great Fleecing.
During that time, the greatest transfer of wealth in the history of the world occurred. Some $4.5 trillion was given to Wall Street banks through its Quantitative Easing program, with the American people picking up the IOU … Who did this help? The 1%, and pretty much only the 1%.
.. The report does not discuss how technology is concentrating wealth among higher-skilled people, and it omits any talk of globalized outsourcing. It also avoids family stability and it ignores the topic of immigration, which has flooded the nation’s marketplace with cheap labor that effectively imposes a 5 percent tax on labor — and then transfers $500 billion a year to company owners and investors.
.. the report then lists a series of unrealistic demands, including a massive tax increase on the wealthy, a massive financial grant to children that could be spent when they become adults, more house-buying aid for poor people, a higher minimum wage, and “a federal jobs guarantee [that] would function similarly to the Works Progress Administration of the 1930s.”
.. But many people of all colors who cannot get through college are falling behind because technology, work, and business are becoming more complex. This increasing complexity ensures that an increasing share of income and wealth goes to people who are smart enough to arbitrage the increasing social and technological diversity, regardless of color.
.. the Democratic elite prefers to import foreign voters rather than accept the equal social status of all blue-collar Americans... four million Americans turn 18 each year and begin looking for good jobs. However, the government imports roughly 1 million legal immigrants to compete against Americans for jobs... That Washington-imposed policy of mass-immigration floods the market with foreign labor, spikes profits and Wall Street values by cutting salaries for manual and skilled labor offered by blue-collar and white-collar employees. It also drives up real estate prices, widens wealth-gaps, reduces high-tech investment, increases state and local tax burdens, hurts kids’ schools and college education, pushes Americans away from high-tech careers, and sidelines at least 5 million marginalized Americans and their families, including many who are now struggling with opioid addictions.
The mysterious group that’s picking Breitbart apart, one tweet at a time
Sleeping Giants is a mysterious group that has no address, no organizational structure and no officers. At least none that are publicly known. All of its leaders are anonymous
.. It aims to drive advertisers away from Breitbart. “We’re trying to defund bigotry,” the spokesman says.
.. Sleeping Giants’ basic approach is to make Breitbart’s advertisers aware that they are, in fact, Breitbart advertisers. Many apparently don’t know this, given that Web ads are often bought through third-party brokers, such as Google and Facebook.
.. Sleeping Giants’ database lists nearly 2,900 companies that have declared Breitbart off limits since November — an astonishing figure
.. “What they’re doing is a very dangerous thing,” says Alexander Marlow, Breitbart’s editor in chief. “They are trying to impose corporate censorship and corporate segregation on us, and they’re doing it anonymously.”
.. “It really happened as a reaction to Steve Bannon’s rise,” the spokesman says. “We weren’t familiar with Breitbart at the time and were obviously pretty shocked at the articles. . . . To be honest, we weren’t familiar with [other conservative] sites,” so those weren’t even considered, he says.
.. Facebook and Google — two of the biggest Web-ad distributors — have never responded to Sleeping Giants, which wants the two companies to impose a blanket ban on serving ads to Breitbart.
.. Even if Sleeping Giants persuaded every advertiser to avoid Breitbart, it seems unlikely to threaten the site’s existence or even impose severe financial hardship. Breitbart is directly funded, and partially owned, by Robert Mercer,
.. “No one [in the media business] has said anything to defend Breitbart,” he says. “No one is standing up and saying, ‘This is about Breitbart now. But it could be about us tomorrow.’ ”
Here’s the best thing the media can do when reporting on ‘antifa’
Right-wing extremists committed 74 percent of the 372 politically motivated murders recorded in the United States between 2007 and 2016. Left-wing extremists committed less than 2 percent.
.. Meanwhile, one white supremacist and Ku Klux Klan leader, Chris Barker, said last month that his movement would destroy immigrants: “We killed 6 million Jews the last time. Eleven million is nothing.” As Paul Blest wrote in the Outline, “To pretend that the alt-right and Antifa are comparable is like equating the danger of playing Russian roulette with taking a walk.”.. “Who is the Corey Stewart of antifa?” (Stewart is the Virginia politician who unfurled Confederate flags at rallies as he ran unsuccessfully in the recent Republican primary for governor and who says he will challenge Sen. Tim Kaine next year.).. There certainly was no question that the alt-right had political ties — at the highest level. Stephen K. Bannon, the chairman of Breitbart News, who would would become Trump’s chief strategist, once described his news organization as the “platform for the alt-right.”.. The best thing journalists can do is to relentlessly explain the beliefs, scope and scale of antifa, and to resist conflating it with liberal groups
What Will Trump Do to American Workers?
With Steve Bannon out of the White House, it’s clearer than ever that Donald Trump’s promise to be a populist fighting for ordinary workers was worth about as much as any other Trump promise — that is, nothing.
His agenda, such as it is, amounts to reverse Robin Hood with extra racism — the conventional Republican strategy of taking from struggling families to give to the rich, while distracting lower-income whites by attacking Those People, with the only difference being just how blatantly he plays the race card.
.. So is the Trump agenda dead? Not necessarily, because trickle-down has never been the whole story of the Republican assault on workers. Or to put it another way: Don’t just watch Congress, keep your eyes on what federal agencies are doing.
.. According to the Congressional Budget Office, back in 1980 the top 1 percent paid 33 percent of its income in federal taxes. Under Reagan, that share briefly fell below 25 percent. But as of 2013, the most recent year covered, Obama’s tax hikes had brought federal taxes on the 1 percent back up to 34 percent of income.
.. Medicaid, which in 1980 covered only 7 percent of nonelderly Americans. Today that number is up to 21 percent.
.. While the rich still pay taxes and the safety net has in some ways gotten stronger, the decades since Reagan have nonetheless been marked by vastly increased inequality, with stagnating wages for most, but soaring incomes for a tiny elite. How did that happen?
Yes, globalization probably played some role, as did technology. But other wealthy countries, just as exposed to the winds of global change, haven’t seen anything like America’s headlong rush into a new Gilded Age. To understand what happened to us, and in particular to American workers, you need to look at policy
.. truck drivers, whose pay used to make them members of the middle class. No more: Their real wages have fallen about a third since the 1970s, with most of the decline taking place during the Reagan years.
.. What happened to truckers was, basically, the collapse of their bargaining power due in part to a changed ideological climate — not least at the National Labor Relations Board — that encouraged private employers to fight unionization, and in part to deregulation that undercut the position of unionized firms.
.. Does anyone doubt that financial deregulation played an important role in surging incomes at the very top of the income distribution?
Comments:
Nothing in his history as a developer showed any inclination to a friend of working people:
- He bought foreign steel because it was cheaper;
- he imported foreign workers because he could pay them less and they are more vulnerable;
- he stiffed small contractors because they couldn’t fight back.
.. I bristle when i hear the chattering class call Trump a populist. He’s not. Like the entire GOP, he is a classist, mouthing platitudes to fool the masses but acting as reverse Robin Hoods when it really counts. The entire charade of repealing ACA is a prime example
.. Populists are politicians who fight to help people who need the federal government to protect them against the rich and powerful.
.. James J: .. For those who do not know and associate with members of the working class, voting against one’s own economic self interest is a head-scratcher. But today’s working class is not your father’s working class. It certainly is not MY father’s working class.
Dad, because of The Depression and then war in Europe, never graduated high school. But he was an avid reader — our small working class home in a Midwest auto town was filled with books, newspapers and magazines of all varieties. He and our neighbors were union and they knew the issues.
Today’s working class has an appetite for information, but the source of that info is polluted. It comes from outlets owned by the same corporate billionaires who are picking workers’ pockets for 40 hours a week.
The outlets — Fox News, Breitbart… — are managed by very intelligent, very schooled and very slick pros. They play the intellectually lazy and proudly uneducated like a symphony; the best cons are the ones where the marks walk away thinking they got the best of the deal.
Today’s working class thinks it understands complex issues because its members read Tweets and listen to manipulating right-wing talk radio all day.
And once whipped into a hateful lather by millionaires con artists like Rush and Hannity and Bannon, economic self interest disappears behind a fog of anger and dogma.