CLASS WARFARE….From the Los Angeles Times op-ed page today:
That’s been the story of the last few years, a rising tide that lifts only yachts. It used to be that economic growth ensured wide benefits across society. But the last four years of economic expansion have been historic for the steadily increasing poverty rate ? a depressing sign that inequality has so split the poor from the rich that the two hardly inhabit the same economy.
And it’s not just the poor who’ve suffered. Research released last week by Tom Hertz of American University raised the troubling notion that inequality and economic insecurity have advanced so rapidly that the economic expansion of 2003 and 2004 was, in a variety of important ways, no better for the median American than the recession of 1990-91.
Damn communists. Now they’re writing op-eds for the LA Times. How is it that a promising young man from Orange Country could have gone so bad? Guess I’ll have to ask him at lunch today.