Jim’s Mailbox

Posted at 10:47 AM (CST) by & filed under Jim's Mailbox.

Jim/Bill,

Key words, both party’s and the media.

Dave

The Political Parties & The Media Have Abandoned The Working “Middle Class”
October 31, 2019

. . .

What differentiates classes now is debt, employment security and the ability to build household capital that isn’t just a sand castle of speculative bubble “wealth.” The worker with tradecraft skills (welding, logger, etc.) has more security and earning power than a college graduate with few skills that can’t be outsourced or automated.

Many college graduates work in sectors that are highly exposed to layoffs and downsizing once the economy contracts: food and beverages, hospitality, etc.

All of which leads us to a highly verboten conclusion: both political parties and the corporate media have abandoned the 2/3 of the workforce that is working/middle class. The bottom 20% dependent on government transfers has more security than those earning just enough to disqualify the household for transfers, while the top 15% in the Protected Class are doing just fine unless they’re over-indebted.

The winner take most class and the wealthy dominate both political parties and the media which is now dependent on advertising that appeals to the top 10% of households that collect more than 50% of the national income.

The political parties take care of the government dependent class to keep the rabble from rebelling, and they keep the government gravy train flowing to the Protected Class (healthcare, national defense, academia, government employees) to insure their support at election time, but they take their marching orders from the Aristocracy / Oligarchy that fund their campaigns and enrich them with $100,000 speaking fees, seats on the board of directors, etc.

Moreā€¦