Did the rich win the Great Recession?

Did the rich win the Great Recession? The answer is…YES.

5 Comments

  1. The Rich are too poor, and the poor are too rich says the GOP. The greatest thing Obama could have done was undo the Bush Tax cuts, instead they are hammering away at the poor, their food stamps, and stomping on increases to the minimum wage etc…. I still say the fastest way to end the recession is up the taxes on the top brackets and cap gains and watch everything fall back into line just like it has every single time we have raised taxes during a recession.

  2. The Multinational Rich may be riding high. And you should probably include the American Rich with portable wealth and no love of country… They have nothing to lose.

    If the politicians bought by the 1%er’s keep it up… Keep pushing the time honored limits that have kept the United States alive and well, we will go down the same road as the British Empire and the C.C.C.P.

    The rest of the world is waiting with bated breath and an almost hidden smile knowing that it won’t be long… Not long at all.

    The petty little back and forth that has kept us at each other’s throats is becoming less and less important when you step back and look at the huge hole in the side of our ship of state.

  3. It is interesting that the article began by pointing out we’re at the two year anniversary of Occupy Wall Street, “a movement born from outrage over bank bailouts.”

    Does anyone remember what happened on the one year anniversary? And what’s being done to mark this one apart from articles which mention it and remind us once again of the growing income gap? Damned near nothing, apparently.

    Over the past couple days I’ve been watching something that came out about the time everyone was “occupying” Wall Street: Ken Burns’ excellent documentary “Prohibition.” Of course, we know by virtue of hindsight that a nationwide ban on alcohol was a terrible mistake, but what the documentary makes clear is that it wasn’t something decided on a whim and enacted overnight. It took decades to build the political coalition which led to the passage of the 18th Amendment, and much of the work was done by a class of people (women) who for the entirety of the struggle had no legitimate political power at all.

    (I had to look that one up just to be sure. Women were arguably the leaders of the move towards prohibition, but didn’t get the right to vote until afterwards.)

    Yet they pulled it off. A dedicated and organized group of people (many of whom had no right to vote) managed to jump over the highest hurdle our founding fathers could throw at us…a Constitutional Amendment.

    The lesson for the Occupy folks is pretty clear if any of them are still around and paying attention: Change is not something you accomplish by protesting one year until the weather turns cold and then you go home never to return. Did the rich “win” the Great Recession? Yes. The team that shows up on the field for every game usually wins the season.

  4. The so-called “growth” we hear the MSM occasionally mention is almost never given in context. Apparently they feel it’s unnecessary to include the fact that almost all Americans experience none of it – or worse.

  5. @SteveK – I grew up in the UK, and when I became a US citizen 10 years ago my brother’s only comment was “Now you come from two countries that used to be great once.” My own opinion is that there’s still just the slimmest chance we can prevent the entrenchment of a hereditary aristocracy. Otherwise we’re screwed. Not just America – the whole human race.

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