Also: Please join me tomorrow for my very last class ever. I’ll be summarizing my “Wealth and Poverty” class, and also — in a way — summarizing my career as a teacher. Please join me, right here.
“In other words, the economy is getting better overall — but overall has become a less and less useful gauge as the RICH ARE GETTING RICHER, the poor grow poorer, and the working middle is under worsening siege. “
Until the RICH start sharing their wealth we will continue down the same road!
Again, as you said, simply and clearly: "In other words, the economy is getting better overall — but overall has become a less and less useful gauge as the rich get richer, the poor grow poorer, and the working middle is under worsening siege."
It doesn't FEEL like "the economy" is getting better if you're living hand-to-mouth while food prices are rising, if you're burdened with college debt, if you can't even think of buying a house because everything is overpriced and people who are wildly wealthy are paying cash, etc. "The economy" means what? The various measures tell us how well the financiers and the Silicon Valley Libertarians are doing, contributing little or nothing in taxes.
I think about this phenomenom a lot - seeing as how I see the economy so differently than so many other Americans. To me, Joe Biden is the PERFECT president to come along during these times and his "bottom up middle out" is the best thing I've seen in our economy, from my vantage point, since LBJ's attempt to eliminate poverty in America with the "Great Society." I consider myself one of the reasons to blame for this - I have two "buckets" on my "bucket list" and one of them is seeing Trump CONVICTED of (at least one of) his CRIMES - actually, I want to live long enough to see him in JAIL. I fully recognize this goes against my (liberal) Christian views, but I just can't seem to help myself. I believe there are so many other Americans "yearning" for the same outcome (of course, for a plethora of reasons) that our so-called "liberal media" continues to be focused on Trump - Cable outlets, morning, noon, and night. Combine that with the seeming incompetence of democrats in MESSAGING, and you end up with media coverage which has been focused on Trump for, well, now I suppose it's been about 7 - 8 YEARS. Obviously, "liberal leaning" outlets like MSNBC are making a boatload of MONEY by focusing on Trump's CRIMINAL conduct while virtually IGNORING the generational accomplishments of Biden's first two and a half years that people have heard mainly about the failures (Biden was set up to fail) in the withdrawal from Afghanistan AND the issue of inflation - resulting from a jumpstarted economy (apparently many Americans prefered the failures of Trump's last year in office) and the resulting inflation (affected by supply chain issues, the Russian illegal invasion of Ukraine, ALONG WITH typical American corporate GREED.) Maybe "we the people" aren't sophisticated enough to process all this (I do my best) but, again, I think people like me who are obsessed with seeing Trump held accountable for at least SOME of his CRIMINAL conduct are what keeps the focus off of Biden's successes (to me, there are MANY) and on that pathetic FPOTUS. Just a few thoughts......
I will miss your commentaries and classes immensely!!’ I rely on them for truth. Thank you from the bottom if my heart for your dedication and perseverance. Much luck in your future pursuits! Thank you! Pamela Ashnault.
Just returned from BC and Calgary, AB. It seemed pretty apparent that these Canucks were "on the whole" better-off financially and shared better government-provided facilities and infrastructure than we have in the States. Taxes aren't all bad.
USA might boast of Gates', Musk's, Bezos', etc. wealth but all it does is skew the average wealth with outliers that don't contribute tax to the bulk of us.
Sad returning to the States and immediately seeing singlewides and shacks surrounded by trash and junk proudly flying Trump flags.
The dread that many Americans feel is real. However, I'm not sure if that has really changed since 2008 crash. I think this feeling of awful economy has more to do with how we get the news and the quality of the news we get. The news programs on TV have been getting more selective in what they show and how they show the "news" that they choose to show. Take, for instance, the recent Supreme Court ruling on the bigoted web designer. The New Republic reported several days ago that the supposed web designer didn't have a web design business and that the gay couple that requested a wedding webpage didn't really exist. Shouldn't this be a BIG news that, in a normal society, should lead to the Supreme Court ruling being vacated, since the decision was based on lies. I'm just flabbergasted.
There is a general sense of insecurity. That whatever good there is, it is fragile. That the Fed is determined to cause a recession. That major corporations continue to resist unionization. That housing remains out of reach as existing homeowners won’t move up, in order to keep good interest rates, and the few houses available can be bought only at exorbitant interest rates. That many see they have less of a voice in public affairs as courts usurp legislative authority and gerrymandered districts send to Washington legislators who are not representative of the vast majority of the people.
As one who views the USA from a foreign perspective I can see that the US press is spouting a lot of gloom which average citizens totally understand. Unfortunately Americans think that the president can fix everything with the snap of his fingers and if heShe doesn’t then heShe isn’t listening. Well in Australia we have all of the same issues including housing shortages, inflation, soaring interest rates, supply chain issues, drug gangs etc. (but we do have universal healthcare and more gun control and few mass shooters!) We know that it is complex and not all caused by our PM. Americans have become desperate for a Messiah in the White House and good old narcissistic Trump says “I alone can save you!” - but he can’t and doesn’t really care. Those who feel disenfranchised are unlikely to view the complex system and follow a Messiah, and that mentality is spurred on by Russian trolls and Q Anon. The money controllers who own the GOP are using this to promote Trump. He won’t fix much if elected (except balloon out his income) but his followers won’t see to it that the rich will get more and more tax deals, subsidies, concessions and reductions in their taxes while the struggling average citizens will have to pay for it. The GOP has a lot to answer for! (Btw I’m American born raised and educated )
I've just read the 74+ comments on another fabulous column by Robert Reich and have come to the same conclusion I always do: Campaign Finance Reform would fix (almost) everything that ails our country. From guns to voter apathy to income inequality to the scourge of Maga to the cost of health care to needless wars...it could all be fixed if we financed campaigns with public dollars. If the DEMS can get back control of both houses and retain the presidency, Joe Biden must pass big, brave legislation getting money out of our politics once and for all.
Your right but I think the hope is gone too wha we need is to see that trump and his people that were involved in the aJan 6th attack on our capitol are being held accountable ABD that has not happened! Trump is still spouting hate and lies and Jim Jordon, MTG, Boebert, Hawley, Gaetz and the rest are making a mockery of our House! All were involved in Jan 6th how are they still in our government??? People are angry!! They want justice!
The GOP is working on hampering the economy through every means possible. The intent is to keep the middle class in check from being able to become any sort of donor class or have any ability to have any from their ranks to have a hopeful chance at running for office. The wealth disparity works fine for them and they want to keep it that way.
We well know there is a sweet spot where inflation and wages actually compliment each other for broadening prosperity to its ends ... but the GOP has been fighting infrastructure measures and any program that would actually facilitate a broader, freer and fairer market for the general American People. They need to keep Americans struggling, whether it is with student loan debt, health care debt, or credit card debt ... as long as Americans are struggling under debt ... they can scapegoat Biden and the Democratic Party so they can keep their status quo of increasing the wealth gap (or at least maintaining) it .... so that the donor class of which they attempt to monopolize can keep them in power.
We can count on the GOP to do its level best to keep the American middle class, the American Struggling class because any actual prosperity will work against them in maintaining power. As usual the GOP is the Arsonist (with "trickle down Hayekian modeling austerity) and blaming the Democrat first responders attempting to put out the blaze ... while they stand on the hoses and shout from a safe distance about "how others are doing it all wrong" ... even as the flames they caused are fought back.
I think most people in the USA think the economy is not doing well, because for most of them it is not. The bottom 90 or 99 per cent are struggling. They cannot afford to send there kids to college, housing, food, and rest. They do not trust their leaders to tell them the truth, They must borrow, beg or steal to survive. They are told it is their fault,
I think you missed a major contributor to the sense of dread: the Extreme Court. Half the population of half the population, that is women of childbearing age, feel enormous fear about the likelihood of simply surviving what should be a joyous thing, pregnancy and creation of a new life.
And then there’s the chance you might be shot dead at a party or while grocery shopping.
I think the biggest problem in America today is right wing media. For some reason they seem determined to throw America over the cliff and will stop at nothing to accomplish that end. I don't know if it's racism, greed or the need for power.
It's tragic that our educational system over the decades has failed to provide so many, now under the spell of the evil intentions of this form of media, the critical thinking tools to recognise as nonsense right wing media's so called news.
I used to believe that Trump was the most dangerous person in America. I now realise that the most dangerous person in America is my next door neighbor who proudly supports Trump. Throw into this mix the cowards, fascists, and just plain stupid who now roam the halls of congress and the courts.
Until we get rid of for-profit health care, nobody will be happy. I work and save money not for vacation, or to own a home, or to start a family, but to upgrade my hospital room when I inevitably will need one. AND I do this WITH a premium health insurance plan. THATS NOT A GOOD ECONOMY NO MATTER HOW YOU LOOK AT IT.
You summed it up Mr. Reich,
“In other words, the economy is getting better overall — but overall has become a less and less useful gauge as the RICH ARE GETTING RICHER, the poor grow poorer, and the working middle is under worsening siege. “
Until the RICH start sharing their wealth we will continue down the same road!
Again, as you said, simply and clearly: "In other words, the economy is getting better overall — but overall has become a less and less useful gauge as the rich get richer, the poor grow poorer, and the working middle is under worsening siege."
It doesn't FEEL like "the economy" is getting better if you're living hand-to-mouth while food prices are rising, if you're burdened with college debt, if you can't even think of buying a house because everything is overpriced and people who are wildly wealthy are paying cash, etc. "The economy" means what? The various measures tell us how well the financiers and the Silicon Valley Libertarians are doing, contributing little or nothing in taxes.
I think about this phenomenom a lot - seeing as how I see the economy so differently than so many other Americans. To me, Joe Biden is the PERFECT president to come along during these times and his "bottom up middle out" is the best thing I've seen in our economy, from my vantage point, since LBJ's attempt to eliminate poverty in America with the "Great Society." I consider myself one of the reasons to blame for this - I have two "buckets" on my "bucket list" and one of them is seeing Trump CONVICTED of (at least one of) his CRIMES - actually, I want to live long enough to see him in JAIL. I fully recognize this goes against my (liberal) Christian views, but I just can't seem to help myself. I believe there are so many other Americans "yearning" for the same outcome (of course, for a plethora of reasons) that our so-called "liberal media" continues to be focused on Trump - Cable outlets, morning, noon, and night. Combine that with the seeming incompetence of democrats in MESSAGING, and you end up with media coverage which has been focused on Trump for, well, now I suppose it's been about 7 - 8 YEARS. Obviously, "liberal leaning" outlets like MSNBC are making a boatload of MONEY by focusing on Trump's CRIMINAL conduct while virtually IGNORING the generational accomplishments of Biden's first two and a half years that people have heard mainly about the failures (Biden was set up to fail) in the withdrawal from Afghanistan AND the issue of inflation - resulting from a jumpstarted economy (apparently many Americans prefered the failures of Trump's last year in office) and the resulting inflation (affected by supply chain issues, the Russian illegal invasion of Ukraine, ALONG WITH typical American corporate GREED.) Maybe "we the people" aren't sophisticated enough to process all this (I do my best) but, again, I think people like me who are obsessed with seeing Trump held accountable for at least SOME of his CRIMINAL conduct are what keeps the focus off of Biden's successes (to me, there are MANY) and on that pathetic FPOTUS. Just a few thoughts......
I will miss your commentaries and classes immensely!!’ I rely on them for truth. Thank you from the bottom if my heart for your dedication and perseverance. Much luck in your future pursuits! Thank you! Pamela Ashnault.
Just returned from BC and Calgary, AB. It seemed pretty apparent that these Canucks were "on the whole" better-off financially and shared better government-provided facilities and infrastructure than we have in the States. Taxes aren't all bad.
USA might boast of Gates', Musk's, Bezos', etc. wealth but all it does is skew the average wealth with outliers that don't contribute tax to the bulk of us.
Sad returning to the States and immediately seeing singlewides and shacks surrounded by trash and junk proudly flying Trump flags.
The dread that many Americans feel is real. However, I'm not sure if that has really changed since 2008 crash. I think this feeling of awful economy has more to do with how we get the news and the quality of the news we get. The news programs on TV have been getting more selective in what they show and how they show the "news" that they choose to show. Take, for instance, the recent Supreme Court ruling on the bigoted web designer. The New Republic reported several days ago that the supposed web designer didn't have a web design business and that the gay couple that requested a wedding webpage didn't really exist. Shouldn't this be a BIG news that, in a normal society, should lead to the Supreme Court ruling being vacated, since the decision was based on lies. I'm just flabbergasted.
There is a general sense of insecurity. That whatever good there is, it is fragile. That the Fed is determined to cause a recession. That major corporations continue to resist unionization. That housing remains out of reach as existing homeowners won’t move up, in order to keep good interest rates, and the few houses available can be bought only at exorbitant interest rates. That many see they have less of a voice in public affairs as courts usurp legislative authority and gerrymandered districts send to Washington legislators who are not representative of the vast majority of the people.
As one who views the USA from a foreign perspective I can see that the US press is spouting a lot of gloom which average citizens totally understand. Unfortunately Americans think that the president can fix everything with the snap of his fingers and if heShe doesn’t then heShe isn’t listening. Well in Australia we have all of the same issues including housing shortages, inflation, soaring interest rates, supply chain issues, drug gangs etc. (but we do have universal healthcare and more gun control and few mass shooters!) We know that it is complex and not all caused by our PM. Americans have become desperate for a Messiah in the White House and good old narcissistic Trump says “I alone can save you!” - but he can’t and doesn’t really care. Those who feel disenfranchised are unlikely to view the complex system and follow a Messiah, and that mentality is spurred on by Russian trolls and Q Anon. The money controllers who own the GOP are using this to promote Trump. He won’t fix much if elected (except balloon out his income) but his followers won’t see to it that the rich will get more and more tax deals, subsidies, concessions and reductions in their taxes while the struggling average citizens will have to pay for it. The GOP has a lot to answer for! (Btw I’m American born raised and educated )
I've just read the 74+ comments on another fabulous column by Robert Reich and have come to the same conclusion I always do: Campaign Finance Reform would fix (almost) everything that ails our country. From guns to voter apathy to income inequality to the scourge of Maga to the cost of health care to needless wars...it could all be fixed if we financed campaigns with public dollars. If the DEMS can get back control of both houses and retain the presidency, Joe Biden must pass big, brave legislation getting money out of our politics once and for all.
Your right but I think the hope is gone too wha we need is to see that trump and his people that were involved in the aJan 6th attack on our capitol are being held accountable ABD that has not happened! Trump is still spouting hate and lies and Jim Jordon, MTG, Boebert, Hawley, Gaetz and the rest are making a mockery of our House! All were involved in Jan 6th how are they still in our government??? People are angry!! They want justice!
The GOP is working on hampering the economy through every means possible. The intent is to keep the middle class in check from being able to become any sort of donor class or have any ability to have any from their ranks to have a hopeful chance at running for office. The wealth disparity works fine for them and they want to keep it that way.
We well know there is a sweet spot where inflation and wages actually compliment each other for broadening prosperity to its ends ... but the GOP has been fighting infrastructure measures and any program that would actually facilitate a broader, freer and fairer market for the general American People. They need to keep Americans struggling, whether it is with student loan debt, health care debt, or credit card debt ... as long as Americans are struggling under debt ... they can scapegoat Biden and the Democratic Party so they can keep their status quo of increasing the wealth gap (or at least maintaining) it .... so that the donor class of which they attempt to monopolize can keep them in power.
We can count on the GOP to do its level best to keep the American middle class, the American Struggling class because any actual prosperity will work against them in maintaining power. As usual the GOP is the Arsonist (with "trickle down Hayekian modeling austerity) and blaming the Democrat first responders attempting to put out the blaze ... while they stand on the hoses and shout from a safe distance about "how others are doing it all wrong" ... even as the flames they caused are fought back.
Thank you professor.
I think most people in the USA think the economy is not doing well, because for most of them it is not. The bottom 90 or 99 per cent are struggling. They cannot afford to send there kids to college, housing, food, and rest. They do not trust their leaders to tell them the truth, They must borrow, beg or steal to survive. They are told it is their fault,
I suppose it is my fault, that my life is awful.
I should go back to sleep.
William, that’s a lot of right-wing propaganda. Shame on you.
I think you missed a major contributor to the sense of dread: the Extreme Court. Half the population of half the population, that is women of childbearing age, feel enormous fear about the likelihood of simply surviving what should be a joyous thing, pregnancy and creation of a new life.
And then there’s the chance you might be shot dead at a party or while grocery shopping.
It’s not the economy, it’s the culture. Toxic.
I think the biggest problem in America today is right wing media. For some reason they seem determined to throw America over the cliff and will stop at nothing to accomplish that end. I don't know if it's racism, greed or the need for power.
It's tragic that our educational system over the decades has failed to provide so many, now under the spell of the evil intentions of this form of media, the critical thinking tools to recognise as nonsense right wing media's so called news.
I used to believe that Trump was the most dangerous person in America. I now realise that the most dangerous person in America is my next door neighbor who proudly supports Trump. Throw into this mix the cowards, fascists, and just plain stupid who now roam the halls of congress and the courts.
Until we get rid of for-profit health care, nobody will be happy. I work and save money not for vacation, or to own a home, or to start a family, but to upgrade my hospital room when I inevitably will need one. AND I do this WITH a premium health insurance plan. THATS NOT A GOOD ECONOMY NO MATTER HOW YOU LOOK AT IT.