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"The current Great Recession may signal a far deeper social crisis than occurred during the 1930's"

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Better Believe It Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-10-10 01:42 PM
Original message
"The current Great Recession may signal a far deeper social crisis than occurred during the 1930's"
Edited on Fri Sep-10-10 01:51 PM by Better Believe It
September 10 - 12, 2010

Suffering the New Normal
The End of the American Century?
By DAVID ROSEN

The American Century emerged out of the ashes of the Japanese bombing of Pearl Harbor on December 7, 1941, and reached its nadir in the wake of the al-Qaeda attacks of September 11, 2001. Looking back, the attacks of 9/11 seems to signal an end to a “century” of America’s ever-increasing domestic renewal and ever-expanding global hegemony. As we approach the ninth anniversary of 9/11, the unasked question that haunts the national political debate is whether the so-called “American Century” is over?

The current “great recession” is not the Great Depression, but may signal a far deeper social crisis than occurred during the 1930s. The formation of the American Century created the economic opportunity for the U.S. to absorb more and more Americans into the “middle class,” integrate the labor movement (until it was systematically destroyed) and accommodate the aspirations of racial minorities and women. The American Century made America America.

Now, as we come to the ninth anniversary of 9/11, a growing unspoken awareness is spreading throughout the country. It silently asked whether the post-WWII “miracle” has sputtered out and, most disturbing, will likely never recur again. The Tea Party phenomenon is a symptom of the growing perception that the era of middle-class economic opportunity has come to an end; it voices a desperate sense that the white-skin privilege that helped sustain the middle-class for more than a half-century is no longer a guarantor of opportunity.

As the popular sense of opportunity shrivels, a call for a “new normal” has begun to spread through conservative talking-heads on Wall Street, academia and the media. They are calling upon Americans to tighten their belts: accept wage cuts, a declining standard of living and higher levels of unemployment. Sadly, the Obama administration has offered only feeble efforts to band-aid over the symptoms of crisis and has failed to address the structural issues that bespeak the end of the American Century.

Today, the U.S. economy is in free fall. Republicans and conservatives are calling upon Americans to tighten their belts and accept wage cuts, higher levels of unemployment and a declining standard of living. They have labeled this the “new normal.” It is a “normal” we should resist.

Read the full article at:

http://www.counterpunch.org/rosen09102010.html
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Missy Vixen Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-10-10 01:49 PM
Response to Original message
1. K & R n/t
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leveymg Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-10-10 01:50 PM
Response to Original message
2. The only ones who have a vision of a better life are on the Left - reform the status quo will never
willingly accept. The "new normals" are trying to hold onto diminishing privilege, even if it means outright deprivation and suffering for the vast majority. Not an acceptable option, and not a vision that's going to keep society together.

The Left has been quiet and cooperative for too long. Now's the time to start asserting our vision and power - there simply is no other acceptable alternative.
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BlackHoleSon Donating Member (89 posts) Send PM | Profile | Ignore Fri Sep-10-10 03:34 PM
Response to Reply #2
11. You nailed it !! n/t
Edited on Fri Sep-10-10 03:34 PM by BlackHoleSon
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RKP5637 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-10-10 01:51 PM
Response to Original message
3. Recommend! n/t
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azurnoir Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-10-10 01:53 PM
Response to Original message
4. K&R nt
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femrap Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-10-10 02:21 PM
Response to Original message
5. So I guess my
mood matches that of the economy....depressed.
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femrap Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-10-10 02:22 PM
Response to Original message
6. So I guess my
mood matches that of the economy....depressed.
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northoftheborder Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-10-10 02:43 PM
Response to Original message
7. New Normal?
Last summer I was visiting with a friend who is a stock broker. I was complaining about the state of the economy and lack of opportunity now, compared to the 50's and 60's when there seemed to be unending growth; everyone who graduated from college had multiple choices of job opportunities, and those out of high school also easily found their way into gainful employment. The financial security of my generation advanced beyond that of our parents. I was worrying about my children - they are all struggling - even with advanced degrees, and what is going to happen to the chances for success of their children? My stockbroker friend said, that those years of prosperity were the anomaly, and that the situation now is the typical, if you look at the nation's overall history of boom and bust. I thought her comment very discouraging. I worry about my grandchildren's futures.
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hayu_lol Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-10-10 03:13 PM
Response to Reply #7
8. This is more of a depression than a recession...
a much more serious depression than the one I was born into.

Why?

Because in the 'bad old days', the factories just closed. Today, the factories have moved to other countries and will NEVER be coming back. We need fewer and fewer people with advanced degrees and more of the former middle class workers who collectively buy more goods(products of industry)with earned wages.

This economy sucks.

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krabigirl Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-10-10 03:13 PM
Response to Reply #7
9. I agree with your friend. nt
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krabigirl Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-10-10 03:15 PM
Response to Original message
10. I do think it is the new normal..but not in how the conservatives see it. r
I just don't think that level of prosperity was sustainable. Also, I really wish the trades would come back...not everyone wants to or should go to college.
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pscot Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-10-10 03:40 PM
Response to Original message
12. Thirty years of Republican rule
They've made a hell of a mess. And the top 1% think they've kicked themselves free of the Earth.
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bvar22 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-10-10 05:49 PM
Response to Original message
13. I disagree only in the time frame.
The US was well into decline before 9-11.
The American Century peaked immediately before Reagan and PATCO.
NAFTA signed the Death Certificate.
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Mimosa Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-10-10 05:55 PM
Response to Reply #13
14. They started a war to 'boost' the flagging economy
Nearly the only industries making things in the USA have been the heavy arms, tanks and aircraft industries, plus what's needed to supply troops. If there wasn't a military option for the working class where would they be employed after NAFTA had shipped out nearly all manufacturing and the tech bubble had burst? Delivering pizzas?

What will the troops do if we they are brought home?
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