The reality of America's continuing economic malaise

[malaise]

http://www.theguardian.com/commentisfree/2014/apr/26/middle-class-american-dream-just-dream
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During the 2012 presidential election, Republican nominee Mitt Romney regularly liked to joke that President Obama wanted the US economy to look "more like Europe". In the context of modern American politics, few insults are more stinging. To be European is to be somehow effeminate, irresolute and, perhaps worst of all, socialist. It's the opposite of the "rugged individualism" and "exceptional nature" of the uniquely American experiment in self-government.

But, as a sobering New York Times article last week made clear, America could have a lot to learn by looking to Europe. According to the New York Times, the American middle class – the linchpin of the country's phenomenal postwar economic growth – can no longer call itself the richest in the world. "While the wealthiest Americans are outpacing many of their global peers," says the NYT, "across the lower- and middle-income tiers, citizens of other advanced countries have received considerably larger raises over the last three decades." America's poorest citizens lag behind their European counterparts; 35 years ago, the opposite was true.

This was yet one more wake-up call about the reality of America's continuing economic malaise. Ask Americans if the country is on the right track – 60% say no. Satisfied with the way things are going in America – only 25% say yes. Still think you're a member of the middle class – only 44% feel so confident. Forty per cent self-identify as lower-class, a 15-point jump since 2008. Among young people, the numbers are even more depressing. Those who place themselves in the lowest tier have doubled in just the past six years.

It is the direct result of a political system that has for more than four decades abdicated its responsibilities – and tilted the economic scales toward the most affluent and well-connected in American society. The idea that government has an obligation to create jobs, grow the economy, construct a social safety net or even put the interests of the most vulnerable in society above the most successful has gone the way of transistor radios, fax machines and VCRs. Today, America is paying the price for that indifference to this slow-motion economic collapse.
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DUers have been saying this for over a decade

[Jesus Malverde]

1. Europe seems to be the classical situation of entrenched ruling classes.

Looking at Britain and Greece I'm not sure there is too much to envy.

Germany is an interesting case in they have managed to preserve their industrial base. Could be the lack of royal families.

Some of the more successful countries, like Norway have considerable national oil revenue.

We should look to Greenland who told the bankers to go screw themselves and is doing better than most.

I consider the EU a basket case of unaccountable bureaucracy and fuck NATO.

[malaise]

2. Iceland not Greenland

At least in Europe people in most countries still get the benefits of social democracy.

[Jesus Malverde]

3. Thanks for the correction.

Agree about the social democracies, however the entrenched ruling class is legion. Social/economic mobility is limited but the royal classes don't experience the same austerity.

[malaise]

4. Well I am profoundly against monarchies, nobilities and aristocracies

They all facilitate class divisions and promote oligarchs.
They are all anti-democratic.

[Jesus Malverde]

5. I knew that!