America’s Middle Class is Doomed
A Commentary by J. D. Longstreet
Obama has billed himself as the champion of America’s Middle Class. It’s bull. His policies are destroying the Middle Class.
The recent unemployment figure is 7.2%. Well, that’s the figure the government reported for public consumption. Of course, the REAL unemployment figure is closer to 12% than 7.2%.
One of the most important contributing factors to the decrease in the unemployment figure is the fact that so many Americans have simply stopped looking for work. See, THEY are not included in the unemployment figure let by the US government. If they were counted we’d be looking at an unemployment figure much closer to that 12% I mentioned above.
Consider this from a report from back in August: “Over the last six months, of the net job creation, 97 percent of that is part-time work,” said Keith Hall, a senior researcher at George Mason University’s Mercatus Center quoted by McClatchy Washington Bureau. Hall was head of the US Bureau of Labor (BLS) Statistics from 2008 to 2012.
Citing the BLS Household Survey, Hall said that over the past six months 963,000 more people reported that they were employed while 936,000 of them reported they were in part-time jobs. Hall continued, “That is a really high number for a six-month period. I am not sure that has ever happened over six months before.” (“Report: 97 percent of new US jobs are part-time”, World Socialist Web Site) SOURCE: http://www.counterpunch.org/2013/08/19/obamas-destroys-the-middle-class/
There can be no question the 40 hour work week in America is endangered — if not doomed — by the advent of Obamacare — another outstanding example of the unintended consequences of a government critically out of touch with its citizens.
So how is business fairing? Not good. Consider this: “While pre-tax corporate profits are at record highs, amounting to 12 percent of GDP, net investment is barely 4 percent of output. This is despite the fact that the cost of equity capital is low, as are interest rates. Increased profits are not being used to expand production, as took place in the past, but are increasingly being used to finance stock buy backs, so as to increase the rate of return on shareholders’ capital.
Under what were once “normal” conditions, increased profits would lead to greater investment, higher production and an increase in wages, leading to an expanding market. Today, however, wages are falling as a share of GDP.
This result indicates that rising profits are no longer being produced by an expansion of the market, as they were in the past, but are increasingly the result of cost-cutting, as firms raise their bottom line by grabbing an increased share of a stagnant or contracting market from their rivals. In other words, the once “normal” process of capitalist accumulation—increasing investment leading to an expanding market, higher profits and further investment—has completely broken down.”SOURCE: http://www.wsws.org/en/articles/2013/08/06/pers-a06.html
Americans have forgotten Obama’s promise to fundamentally change America. Believe me — he is keeping that promise by crippling and finally destroying America’s middle class.
No President has been as divisive as Obama. The country is split asunder in near equal parts. Americans are fearful and and at each other’s throats.
Consider all the new laws and rules and regulations decreed by Obama and geared toward the middle class. It’s all a part of the master plan to destroy the middle class.
As long as Americans are fighting to survive, or battling through all the regulatory rules, just to keep a small business afloat, trying to find a job that will at least allow them to pay the rent and keep the lights on, they don;t have the time nor the inclination to fight the on coming authoritarian government Obama is creating right before our eyes.
If one considers the strong stock market and the fantastic increase in the number of poor on the government dole, one would have to agree that the rich AND the poor have done well under Obama. It is the middle class, the people who make America work, who have been creamed by the fundamental change Obama has brought to America.
With immigration reform about to raise its ugly head in Congress, the specter of an even greater influx of immigrants into America is a given. The US has been the victim of the greatest land invasion in the history of this continent. America has been invaded and is well on the way to occupation by a people seeking to re-populate a land area their government legally sold to America well over 150 years ago.
When one compares the fall of the Roman Empire with the fall of the USA one cannot escape the parallels between Rome succumbing to the migration of barbarians into the empire and the capital city of Rome itself to the invasion by immigrants of the USA. The end result may yet prove to be the same.
Taxes paid by the middle class go towards free eduction, healthcare, and so much more. It has placed a tremendous strain on the middle class, as well.
As a result of all the above, common sense tells us the middle class cannot survive in America. But that is a hallmark of socialism. No middle class. Under socialism a nation has a lower class and — the elite.
Care to guess the class in which you will eventually wind up?
© J. D. Longstreet
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