I heard a warning deep within – we usually do, when something worse than we can imagine is stalking us, and set to pounce.
Fate’s way of beating us in a fair fight is to give us warnings that we hear, but never heed.
~Gregory David Roberts, Shantaram
The last few days I have been talking about the economic fate of the American worker and how that relates to our current economic woes. My partner over at Newhoggers has a post on the “pain caucus.”
The underlying concept of supply side economics as it has been implemented is that the little people (97% of the US population) have it too easy, and can buy up too many scarce resources thus increasing prices. Anything that makes it harder for the little people through price signals or cutting back the safety net is a good thing; fuck the costs, as the elite can externalize or make it back with another capital gains tax cut.
So the question becomes how long will the “little people” put up with it. Via Dave Cohen at Decline of the Empire we have this from Gerald Celente:
Is he right? It happened in France and we saw the Jacobins rise to power – not a pretty picture. In Cuba the threshold was 2% of the population holding 98% of the wealth and Castro happened – once again not a desirable outcome.