Umair Haque in America’s Economy Is Officially Inside-Out:
This is the first generation of Americans in modern history expected to enjoy lower living standards than their forebears. It is the first generation in modern history whose life expectancy is dwindling. It is the first generation of modern Americans whose educational attainment is declining. It is the first generation of modern Americans who face less opportunity than their parents.
[...] we are in truly uncharted water. The economy is indeed “growing.” But the top 1 percent have taken 95 percent of the gains in this so-called “recovery.” The plain fact is that the average household is poorer in the “recovery” than during the “recession.” [...]
But when growth rises and living standards fall? That begins to hint that there is something wrong—very wrong, perhaps terribly wrong—with the way things are. It suggest that what is happening to this society is not merely a simple, passing, self-healing ailment; but a chronic, possibly permanent, definitely debilitating condition. Not a flu—but a cancer.
More important than immigration, gun control, health care, voter id, climate change … whatever political topic is your pet peeve. This is Disturbing. Distressing. Frightening. Alarming. Serious.
It’s time to start doing something. I don’t know what that is. But we have to fix this. And soon.