Monday’s Wall Street Journal headline says that consumer debt is stopping the economy! But that could only be a factor if consumer spending and “aggregate demand” where the prime movers in our economy not the “Job Creators” that the Republicans talk about! When Wall Street points their finger at consumers and their credit card debts you have to wonder why they were not complaining when prior consumer credit card spending was the source of the nation’s aggregate demand!
Aggregate demand Walmart Style
Right wingers love to use consumer debt to blame the Middle Class! We should learn to emulate our social betters and save more! But the truth of the matter is that the “Job Creators” have not been producing jobs that pay well! In fact many in the Republican Party want to eliminate the minimum wage!
Private Sector Job Creators Are Not Doing Their Job
Consider this fact!
Almost half the households in America about 47% earned so little that they did not have to pay Federal Income Tax! That is due to the Walmartization of the American middle class to serve the interests of our social betters!
We are facing a situation that occurred in 1929! We have far too much wealth at the top and they are sucking the life blood out of the middle class and thus reducing aggregate demand!
Watch the video above and remember these facts:
- Our economy has doubled in size yet the real producers of this wealth, our middle class, have not shared in this wealth! Our social betters want us to shoulder the burden of deficit reduction!
- As wealth accumulates at the top, these folks can only spend so much! They never tire of investing in foreign lands and gaining even more wealth. Well that is if we middle class Americans would just ”know our place”! Then our social betters might see fit to reinvest here! Sure just eliminate the minimum wage and privatize social security and Medicare! Without a strong middle class there can be no real consumer spending! Hence no real aggregate demand!
- These CUT AND RUN CAPITALISTS (oh dear now did I say something naughty) are evading their responsibility to this nation by using tax shelters on Caribbean islands! Yet Republicans and their fellow travelors at FOXNEWS want to blame the Middle Class as being “irresponsible”!
- Where is the news media? Why isn’t anyone standing up for the Middle Class? Maybe if WALL STREET CHUCKIE our beloved Democratic Party Senator from NY would stop “playing liberal” inside the confines of the corporate sandbox of his Wall Street contributors we could outlaw usury!
We need Democrats to break out of the corporate sandbox and stop role playing “Liberals” and become real Liberals by standing up for the silent majority in this nation – our great middle class! We need to address not the budget deficit, but the trade deficit.
If our political processes were not clogged by corporate financing of both Republicans and Democrats then we could end the deficit by:
- Establishing a strong Tariff and punishing CUT AND RUN CORPORATIONS and their investors.
- Eliminate not simply the Bush Tax Cuts but the Reagan Tax Cuts also.
- Have a robust inheritance tax. This would not be a “Death Tax” but rather an “American Exceptionalism Preservation Tax“! After all our nation’s exceptionalism is based on equal opportunity! If you destroy Pell Grants then there is no equal opportunity to go to college! This would leave us with what FDR called an “Economic Royalty”!
- End the Halliburton enrichment program and the vast wild eyed right wing social engineering experiments in Iraq and Afghanistan!
- A Constitutional Amendment to end corporations being involved with our elections is a litmus test for “Change We Can Believe In”!
Democrats will never break out of the corporate sandbox as long as Barrack Obama continues his testosterone free politics. It may please his patrician sponsors at Goldman Sachs but this is not “Change We Can Believe In”!
We need Senator Bernie Sanders For President!
- Robert Reich – What’s Wrong With the Economy in 2 Minutes (philstockworld.com)
- James Petras, “US Working and Middle Class: Solidarity or Competition in the Face of Crisis?” (robertlindsay.wordpress.com)