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Archive for October 10th, 2013

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In a poll done by the Guardian newspaper, 87 percent of respondents agreed with former President Jimmy Carter‘s assessment made a few days ago “that today’s middle class resembles the poor,” compared to when he was president from 1977-1981. Carter also said, “The quality of life has fallen for all but the richest Americans.”

When Carter was president, the economy created over 300,000 private sector jobs a  month, compared to about 150,000 nowadays, if we’re lucky. That was with an economy 55 percent the size of todays, and with a population only 60 percent the size of todays. And he did it real rising wage rates. He did have an advantage. He didn’t ship many jobs overseas. 40-60 million US jobs have been shipped or created overseas since Carter left office because free trade treaties made it possible.

The difference between the old higher wages in the US, and the new lower wages overseas, have gone into the pockets of the super rich via surging corporate profits, rising dividends and record stock prices. The folks that lost their jobs? What did they get? Nothing, except may unemployment benefits, if they were lucky.

Nowadays, the 1 percent steal over 30 percent of all the income produced in the US, compared to 7 percent when Carter was president. That’s because he who had the gold buys the government. That sale began in the 1970s and was completed by the early 1990s.

The 99 percent earned 93 percent of all the income produced in the US when Carter was president. That spurred demand for goods and services, which created jobs. Now that the 99 percent earn only 68 percent of all the income, thanks to our corrupt government, demand for goods and services is considerably less, job growth is weak, and the economy is slip-sliding from the current low-grade to the future high grade Great Depression.

Now Obama and John Boehner want to push the US economy and the middle class over the last cliff with the biggest income redistribution scam of all time; the Trans Pacific Partnership. It’s the biggest free trade treaty of all time.

Check out the poll by clicking on the link below.

Is Jimmy Carter Right? The Middle Class is the New Poor–The Guardian

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