hvactec
VIP Member
The rich get richer and the poor get poorer. That should be the theme that best describes this great recession. Only the poor are expanding in numbers with members of the middle class (that have been treading water since the late 1970′s with flat incomes that barely kept up with inflation) now being decimated with job losses, expiring unemployment benefits, depletion of savings, foreclosures and bankruptcy; some falling so far and having to rely on food stamps just to survive.
Meanwhile the rich have remained whole, thank you very much. Wall Street tycoons were bailed out. The stock market has recovered with the Dow now over 11,000 so all is well with the investor class. Of course the big corporations, having moved their labor operations to 3rd world countries are quite profitable, as are the private health insurance behemoths, their brother pharmaceutical giants as well as all the defense related industries (with their huge government contracts) that never had it better.
But for the working men and women (on whose backs made this country the envy of the world) have seen their fortunes go with the globalization of manufacturing and outsourcing of their once good paying jobs.
Small towns have withered and died with the loss of their manufacturing plants while the towns small businesses got decimated and replaced by the likes of Wal Mart and big corporate franchising of the stores, businesses and restaurants that were once owned and operated by local entrepreneurs.
And where has the government been in all of this? Its been subsidizing the corporations that pulled up stakes with tax breaks and NAFTA type agreements. Where were the governmental incentives, the tax breaks and infrastructure improvements to help keep those corporate outfits in this country?
But with this great recession (more like a depression for many) where are the 1930′s depression era WPAs and CCCs? Where are the giant government sponsored infrastructure projects of roads, bridges, schools, railroads and the like?
read more The Rich Get Richer, the Poor Get Poorer, While the Middle Class Gets Decimated | Economy In Crisis
Meanwhile the rich have remained whole, thank you very much. Wall Street tycoons were bailed out. The stock market has recovered with the Dow now over 11,000 so all is well with the investor class. Of course the big corporations, having moved their labor operations to 3rd world countries are quite profitable, as are the private health insurance behemoths, their brother pharmaceutical giants as well as all the defense related industries (with their huge government contracts) that never had it better.
But for the working men and women (on whose backs made this country the envy of the world) have seen their fortunes go with the globalization of manufacturing and outsourcing of their once good paying jobs.
Small towns have withered and died with the loss of their manufacturing plants while the towns small businesses got decimated and replaced by the likes of Wal Mart and big corporate franchising of the stores, businesses and restaurants that were once owned and operated by local entrepreneurs.
And where has the government been in all of this? Its been subsidizing the corporations that pulled up stakes with tax breaks and NAFTA type agreements. Where were the governmental incentives, the tax breaks and infrastructure improvements to help keep those corporate outfits in this country?
But with this great recession (more like a depression for many) where are the 1930′s depression era WPAs and CCCs? Where are the giant government sponsored infrastructure projects of roads, bridges, schools, railroads and the like?
read more The Rich Get Richer, the Poor Get Poorer, While the Middle Class Gets Decimated | Economy In Crisis
