Why America Abandoned The Greatest Economy In History

[skews13]

If there is one statistic that best captures the transformation of the American economy over the past half century, it may be this: Of Americans born in 1940, 92 percent went on to earn more than their parents; among those born in 1980, just 50 percent did. Over the course of a few decades, the chances of achieving the American dream went from a near-guarantee to a coin flip.

What happened?

Why America Abandoned the Greatest Economy in History

Was the country’s turn toward free-market fundamentalism driven by race, class, or something else? Yes.

www.theatlantic.com

The transfer of wealth from the working class, to the morbidly rich. That's what happened. We now just need to teach this to the Gen Z and later generations, and how to take that wealth back from the "Entitled Worthless", of whom it does not belong.

 

[RhodyPatriot]

No.

We did it by letting Joe Biden's puppet masters steal an election.

End of story.

 

[1srelluc]

NAFTA

 

[Darkwind]

We haven't. The young have.

They expect to be handed a good life instead of working for a good life.

Those generations born in the 40s, 50s,, and 60s had as little when they started out, and I'd say even less than today, than the generations that are pissing and moaning about not being successful right out of high school.

The American dream is something you work to achieve. It is not handed to you.

 

[Polishprince]

Actually, America is still suffering from the reign of error of that insufferable sanctimonious Twit, Jimmy Carter and his "I'm better that you" ideology.

That's when they closed up the steel mills in Youngstown, in the late 70's, when Mr. Peanut was whining to Playboy about the "lust" in his heart and and his devotion to the idea of economic malaise that America is living too high on the hog.

 

[shockedcanadian]

We haven't. The young have.

They expect to be handed a good life instead of working for a good life.

Those generations born in the 40s, 50s,, and 60s had as little when they started out, and I'd say even less than today, than the generations that are pissing and moaning about not being successful right out of high school.

The American dream is something you work to achieve. It is not handed to you.

Right. You name a private company in which you can stay working for 25 or 30 years and earn a guaranteed pension? People have become commodities, patriotism is gone.

 

[Anomalism]

Right. You name a private company in which you can stay working for 25 or 30 years and earn a guaranteed pension? People have become commodities, patriotism is gone.

There's always government work.

 

[1srelluc]

We haven't. The young have.

They expect to be handed a good life instead of working for a good life.

Those generations born in the 40s, 50s,, and 60s had as little when they started out, and I'd say even less than today, than the generations that are pissing and moaning about not being successful right out of high school.

The American dream is something you work to achieve. It is not handed to you.

Gotta have a place to work first.

Warts and all "factory towns" provided an income where a frugal man could manage to buy a modest home and raise a family on his income alone.

NAFTA and it's ugly stepchild Globalism ended all that.

 

[pknopp]

What happened is "Shareholder value" became more important than the workers creating that value.

 

[Darkwind]

Right. You name a private company in which you can stay working for 25 or 30 years and earn a guaranteed pension? People have become commodities, patriotism is gone.

Pensions, even back then, were negotiated. Why would you want a pension from a company that may or may not survive 30 or 40 years?

The Stock Market has had its ups and downs, but it is mostly up and a smart person does better investing for their retirement the relying on any single company. Besides, even if they did offer pensions, the current generation would not stay in a single job from high school to retirement.

People have not become commodities, but their labor does have value. However, that is the responsibility of each individual, not a society.

 

[pknopp]

Pensions, even back then, were negotiated. Why would you want a pension from a company that may or may not survive 30 or 40 years?

The Stock Market has had its ups and downs, but it is mostly up and a smart person does better investing for their retirement the relying on any single company. Besides, even if they did offer pensions, the current generation would not stay in a single job from high school to retirement.

People have not become commodities, but their labor does have value. However, that is the responsibility of each individual, not a society.

I had a pension. It wasn't negotiated, it was simply a part of the employment package. I stayed because of that pension.

 

[Darkwind]

Gotta have a place to work first.

Warts and all "factory towns" provided an income where a frugal man could manage to buy a modest home and raise a family on his income alone.

NAFTA and it's ugly stepchild Globalism ended all that.

I don't disagree. With the explosion of drug use as well, there just isn't a work ethic in this country anymore.

Too many of the newest generation wants to

1. Be successful right out of school
2. Be responsible for making some world-shattering change for good.

None of them understand that you change the world one small victory at a time.

I haven't even touched on the universities that teach the young to hate that very thing they want to be.

 

[Polishprince]

Pensions, even back then, were negotiated. Why would you want a pension from a company that may or may not survive 30 or 40 years?

The Stock Market has had its ups and downs, but it is mostly up and a smart person does better investing for their retirement the relying on any single company. Besides, even if they did offer pensions, the current generation would not stay in a single job from high school to retirement.

People have not become commodities, but their labor does have value. However, that is the responsibility of each individual, not a society.

Exactly. Companies aren't immortal. A pension promised by Studebaker, National Buggy Whip, or Consolidated Slaveholdings, just isn't worth the paper the promised pension is written on.

 

[Darkwind]

I had a pension. It wasn't negotiated, it was simply a part of the employment package. I stayed because of that pension.

So, the pension was negotiated BEFORE you were employed there.

Myself, I would opt out of any company pension and take the money. I can do better in retirement with the money than take a risk that a company will survive until My death.

 

[toobfreak]

The transfer of wealth from the working class, to the morbidly rich. That's what happened.

And the Clintons, the Bushes, the Obummas and the Bidens all happily presided over it, getting rich off it, not lifting a finger to change a thing.

 

[Mikeoxenormous]

If there is one statistic that best captures the transformation of the American economy over the past half century, it may be this: Of Americans born in 1940, 92 percent went on to earn more than their parents; among those born in 1980, just 50 percent did. Over the course of a few decades, the chances of achieving the American dream went from a near-guarantee to a coin flip.

What happened?

Why America Abandoned the Greatest Economy in History

Was the country’s turn toward free-market fundamentalism driven by race, class, or something else? Yes.

www.theatlantic.com

The transfer of wealth from the working class, to the morbidly rich. That's what happened. We now just need to teach this to the Gen Z and later generations, and how to take that wealth back from the "Entitled Worthless", of whom it does not belong.

Ah there is that weallth envy again by the marxists of this board. People willingly giving up their money to purchase goods and services is not redistribution of wealth, but what is....
Cronie Capitalism - The government picks winners and losers, thus taking tax payer money and giving it to their buddies, like the Globull Warming Zealots, then in turn when the government cronies get out of the government, those Zealots are there offering cushy jobs with golden parachutes. STupid people like you are too dumb to notice, which is why they can get away with it. If you fuckers started burning down those Globull Warming businesses, instead of minority businesses, you would start to see a change....Until then, you can go fuck yourself, dumbass.

 

[Polishprince]

Back in 2005 and 2006 , President Bush proposed the idea of investing the Social Security trust fund in the stock market. Libs vetoed the idea.

However, if we had done it, stocks have more than doubled since then. Social Security checks have not, OTOH.

Old people would be doing a lot better today.

 

[Mikeoxenormous]

Right. You name a private company in which you can stay working for 25 or 30 years and earn a guaranteed pension? People have become commodities, patriotism is gone.

Free agency and Unions fucked the employee.

 

[Mikeoxenormous]

Back in 2005 and 2006 , President Bush proposed the idea of investing the Social Security trust fund in the stock market. Libs vetoed the idea.

However, if we had done it, stocks have more than doubled since then. Social Security checks have not, OTOH.

Old people would be doing a lot better today.

Which Marxists could never have. Happy retired people are hated by the young jealous wealth envious Biden voter...

 

[pknopp]

So, the pension was negotiated BEFORE you were employed there.

Maybe somewhere around 200 years ago or something.

Myself, I would opt out of any company pension and take the money.

You are making assumptions not available.

I can do better in retirement with the money than take a risk that a company will survive until My death.

Probably so but that was not an option.