When partisans start in with the "most important election of our lifetime" nonsense, it shows how little they really care about your lifeline. The 2000 election qualifies, but it was stolen, and not by Ralph Nader. It was stolen by the Kangaroo SCOTUS, Katherine Harris, and the entire Bush family. What does that tell you? Read more about Partisans and Their "Most Important Election of Our Lifetime" Crap
Income of normal family (adjusted for inflation) hovering at 1989 level. Not that a few of us weren't/aren't aware of this. But it's in WaPo now.
Frightening, eh? Just think--literally every other person that you and I lay eyes on are not members of the much-vaunted "Middle Class," to which politicians on both sides of the isle incessantly pander.
I still cannot believe how little 'press' the AP piece below, on the 2010 US Census Bureau Statistics, got when it was published just over a year ago. I forget when and where I first saw this piece, although I posted it on several blogs. I apologize that it is dated, but the content is not of any lesser significance, in my opinion. Read more about 'Dismal' Prospects': 1 in 2 Americans Are Now Poor Or Low Income
On September 12, 2012, the Census issued its report on Income, Poverty, and Healthcare Coverage in the United States: 2011. While the full report has some nice charts, one that was conspicuously missing was on income inequality. The data for such a chart was in the tables, and so I was able to construct the chart above from them. Mean household (not individual) income for each quintile (20%) is expressed in real (inflation-adjusted) dollars. Read more about Income Inequality and the Death of Trickledown
Cross-posted from Real Economics
Lambert points to an important post at Naked Capitalism focusing on the disastrous results of two Congressional primaries in which progressive candidates were defeated by large margins, Why is the left slice of Democrats getting crushed? Reinforcing Jon Larson's link, that most Americans do not feel there is an economic recovery, the latest study by Emmanuel Saez shows that income inequality is now far worse than it was under George Bush. Read more about Obama failure on political economy impacts primary results
[Welcome, Naked Capitalism "must read"-ers! Also, the next post from letsgetitone proposes a different and better "deal," so please read it as well. --lambert]
Cross posted from Real Economics. Read more about Why the Obama tax deal with Republicans is insane
SoBe is at it again, with another powerhouse common sense post. Be sure to check out the graph, although I suspect most of you have seen its like before. And this is not exactly unexpected, and I bet we'll see more of it:
Even more alarmingly, Putnam County, TN, is in such dire straights it has considered doing away with county primary elections:
COOKEVILLE, Tenn. -- Putnam County is looking at the prospect of eliminating primary elections in hopes of saving $60,000.
Pat Buchanan may have a point. After the election fever has died down and the Democrats have stopped back slapping and get in the game, we still have a problem. The growing inequality in the economy and the dilemma of Globalization are creating shockwaves of resistance within the rank and file of America. Between the growing scarcity of natural resources, the exponential increase in demand as three billion people come on line as consumers, and Americaâ€™s addiction to hegemony there is a growing nationalism that is increasingly xenophobic and essentialist â€“ we have work to do