Occasionally the tip of the iceberg pokes through, and the reported facts corroborate the experience of most of the people. The recent Pew Center report that has now reached broad circulation shows that a full 93% of US households *lost* ground in the much vaunted recovery of 2009-2011.
This just validates what we are all living through, glossed over by averages, smoke and mirrors. There is no “recovery.” Sectors *within* the top quintile are holding on, barely.
This is the starkest portrayal I’ve seen in black and white; I had previously been telling anyone who would listen that, while there seems to be a pickup for those in the $250,000 and up range, it is clearly not the case for the bottom 4 quintiles [i.e. $100,000 combined household income 2010]. It should be shocking enough to most middle class types that the real picture is so different from what they believe to be living–that is, that they are actually in the top 8-10%… BUT the data shows even worse. Even families up to $500,000 (!) are losing ground.
This bespeaks the desperation in the political outlook of what Zinn called The Guards and what Chomsky called The Priesthood: people who are doing just fine in the current system but think it needs a few tweaks. As this sector shrinks, the internal contradictions will become more apparent and the response of the state becomes harsher and less elastic. So households with “two good jobs” say $100,000 plus each, are prone to seeing some hope, the famous ‘green shoots’ mantra that fell on deaf ears for most of us a few years ago. Come on, guys–it *can* work! We all need to just be a bit more patient! Etc.
The political ramifications are quite alarming. This sector is crucial to the viability and perceived legitimacy of the system, and their panic has far reaching consequences. It may just beginning to dawn on them that they, too, will ultimately be left behind in the wealth shift, and that it was never really about them. Slowly but surely, and to varying degrees, they are recapitulating Judas’ epiphany [the Andrew Lloyd Weber version, at least]: “My god I’m sick. I’ve been used–and you knew all the time!” They are just beginning to see that they are facing an uphill battle in a rigged game against the House with a stacked deck–and any other cheesy analogies you want to
This article originally appeared on : Global Research