And the spin goes on. Now we have the labor report that shows unemployment applications rose last month when this number was expected to lower. Worse, the unemployment number ticked up a bit when most “economists” expected the steady decline to continue. Coming on top of the news that the economy actually contracted in the last quarter of 2012 prospects are grim. Apologists for the administration are mouthing all kinds of rationales for the sudden turn of events - Hurricaine Sandy, cuts in defense spending, the sun comes up, the moon goes down. But the bald truth is that we are in the poorest “recovery” seen in any living person’s memory.
Not all is grim. The stock market reached a record high, which means the top 1% continue to see their incomes rise to record highs. What happened to all the hype about “saving the middle class?” Obviously the monied class is still investing and gaining from those investments. The “working class” still faces poor prospects.
By the way just who are the “working class?” I once attended a meeting of the Socialist Worker’s Party at Hunter College in New York City. I asked after hearing frequent references to the ”working class,” just who was the “workng class,” pointing out that all in that room including myself had to work for a living? Several in the group replied, “You just know it.” So the working class is similar to the middle class, a self description. Damn few have the courage to say I am rich or I am poor.
I recall when in college a close friend taking a sociology class said he used what he learned in class to determine that the two of us were definitlely in the “upper lower class.” Well we both worked our way through college and made it to the “middle class.” I would prefer a classless society.
I would also prefer a real recovery instead of an over-spun tepid one.