The Great Recession is over. The economy is no longer in decline and is instead growing. But jobs don’t exist and for many when they do find jobs they are earning a fraction of what they once earned. This is occurring when productivity and corporate profits are at record highs. It is also an era when the fortunate have so much more than the rest. In terms of overall prosperity, the economy is performing very poorly, serving mostly the interests of a very small minority. In short, we are in a phase of retrenchment, not recession, when the vast majority of people in this economy must adjust to doing with less, even as the economy exceeds its pre-recession levels.
At the same time we have politicians — and misguided voters — pledging for more of the same that is in large part responsible for this retrenchment. The economy is rebalancing to favor a different set of interests today. The poor and middle class alike are the obvious victims now, but even the better off have less to hope for in the future if these trends continue. And yet we seem to be possessed by an inexplicable stupidity, misguided by myths of self-reliance and independence that never served this country well.
Bad ideas lead to bad policy and that results in bad outcomes. You need to look no further than the facts of the day. Change won’t happen until people do. Stop the seeking the lazy answer. Time to pull together and restore what was right and working.
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