...had 30 years of watching the steady erosion of the living standards of American blue-collar middle class...
And American companies doing the same to us here in the UK and no doubt elsewhere...
This is an issue that I have occasionally voiced on TM.
The middle class of small to medium business owners, shop keepers, foremen, factory managers, etc has been either wiped out or impoverished to the degree that they are no longer the well off segment that was the driving force of the economy. The new middle class is the salaried executives of financial institutions, big business, multinationals, and the fat cats of the public service. These people don't actually produce anything and there in lies the problem. They reduce costs to pay their extravagant saleries by reducing staff and moving production off shore. At the same time prices are increased to pay for "marketing" and advertising and, on the goverment side, taxes are increased.
Doesn't seem to occur to anyone that people who are struggling to put food on the table are not going to buy manufactured goods thus causing a downward spiral in the whole economy.
This is simply the result of the '70s and '80s philosophy of "Greed is good"
At this point there are not enough desperate people to start serious unrest, but how far off is that moment?
Indeed, Peter. Society will get the social infrastructure it is prepared to pay for, but the last few years of 'austerity' here and in Europe is now biting hard and the recent prison riots are just the start of civil unrest.
Cut back to the bone, the prison service now cannot cope. Hospitals and medical services cannot cope, post hospital care facilities are pretty much in array meaning they can't clear patients out, the fire brigade locally are lengthening their response times as they can't meet the current standards and the Police are having to bid for a drugs dog to carry out an operation (The dog and handler came from over 400 miles away and stayed overnight).
I hear that people are out on the streets in some places in America already, and I fear for the stability over here in the UK. It only needs a spark ignited from the divisive & now entrenched Brexit camps to kick it all off.
It's a very fine line between freedom of speech and anarchy..
You're being too gloomy Steve. I would be more worried about civil unrest in the US if Trump had lost. As it is, the main worry in the US should remain the "war on police" that is boiling deep down in radicalized young black communities. A totally diferente issue, but in a gun-infested society like what you have in the US, it is a real problem.
Also, in the UK I don't see the brewing of civil unrest. Again the main worry within the British is nowadays a latent xenofobia, mainly against eastern europeans or so I hear. As you and many other know I have family in Edinburgh, sister and brother in law teach at the Uni, and my nieces study there too. I keep asking "are you being side-looked?" and they keep telling me "no". But neither of them - thankfully - would have any problem in finding equivalent jobs elsewhere, and I keep telling them "if start being side-looked by some idiot or bunch of idiots, just get out of there."
As I said, grim times. But not to the point of me fearing broad civil unrest yet.
...had 30 years of watching the steady erosion of the living standards of American blue-collar middle class...
And American companies doing the same to us here in the UK and no doubt elsewhere...
This is an issue that I have occasionally voiced on TM.
The middle class of small to medium business owners, shop keepers, foremen, factory managers, etc has been either wiped out or impoverished to the degree that they are no longer the well off segment that was the driving force of the economy. The new middle class is the salaried executives of financial institutions, big business, multinationals, and the fat cats of the public service. These people don't actually produce anything and there in lies the problem. They reduce costs to pay their extravagant salaries by reducing staff and moving production off shore. At the same time prices are increased to pay for "marketing" and advertising and, on the government side, taxes are increased.
Doesn't seem to occur to anyone that people who are struggling to put food on the table are not going to buy manufactured goods thus causing a downward spiral in the whole economy.
This is simply the result of the '70s and '80s philosophy of "Greed is good"
At this point there are not enough desperate people to start serious unrest, but how far off is that moment?
spot on Peter
2008 XXVII Platform, Bugatti Blue Roadster 4 Seater
Didn't know you had family up there in Edinburgh Mario.
My Sister (sadly departed) attended vet school up there - there is a lab named after her and my niece recently completed studies there (but not veterinary).
My brother in law moved back up there last year. Really must get to visit him and see the lab named after my sister...
Graham (G4FUJ)
Sold L44FOR 4/4 Giallo Fly '11 MINI Countryman Cooper D All4 '90 LR 90 SW
...had 30 years of watching the steady erosion of the living standards of American blue-collar middle class...
And American companies doing the same to us here in the UK and no doubt elsewhere...
This is an issue that I have occasionally voiced on TM.
The middle class of small to medium business owners, shop keepers, foremen, factory managers, etc has been either wiped out or impoverished to the degree that they are no longer the well off segment that was the driving force of the economy. The new middle class is the salaried executives of financial institutions, big business, multinationals, and the fat cats of the public service. These people don't actually produce anything and there in lies the problem. They reduce costs to pay their extravagant salaries by reducing staff and moving production off shore. At the same time prices are increased to pay for "marketing" and advertising and, on the government side, taxes are increased.
Doesn't seem to occur to anyone that people who are struggling to put food on the table are not going to buy manufactured goods thus causing a downward spiral in the whole economy.
This is simply the result of the '70s and '80s philosophy of "Greed is good"
At this point there are not enough desperate people to start serious unrest, but how far off is that moment?
Here, here. Don't forget to add in the share options, bonuses and other 'benefits' that the producing part of the population have to cover for.
You know it makes sense! 