The Desperation Economy
We’re witnessing capitalism as it was never meant to be.
If you need proof that the deconstruction of the American economy began with The Great Communicator, check out his first act as president—trashing the Air Controller’s Union. Ronald Reagan’s success in that effort was the opening gun on a relentless four decade attack on union membership across corporate America and it’s been a race to the bottom for the middle class ever since.
The investor class that once had it all, wanted it back
And they got it. No matter that they wrecked it when we last trusted them with the family car, 1929 was a half-century gone in 1979 and memories are short.
Apparently the boom times of the post-war fifties, sixties and seventies just weren’t good enough for Ronnie’s crowd. They were rich as hell, but the middle class was enjoying job security as well as wages that afforded sending the kids to college along with a boat in the driveway. In those heady times a single wage-earner was enough to support the …