Take Krugman as you like but…

Pathos of the Plutocrat – NYTimes.com.

While I have my own issues with Krugman as one of those polar pols, nevermind the orientation, he’s struck something here that’s struck me throughout the Hope-mongerer’s presidency.  While I can’t quite put my finger on it, I just know that the economic stagnation that’s become a defining characteristic of my generation’s (I just turned 30 and stopped wearing sandals) pathos is, in large part, due to a stubborn, mean-spirited, revanchist streak bundled up in the emotional personage of this country’s ultra-rich mover-shaker class.

Since 2010 we’ve heard that corporate treasury accounts are flush with cash — this article asks the wrong question, I think … why aren’t corporations hiring with that $, thereby increasing optimism about the wider consumer economic outlook, AND distributing it to shareholders (which tends to improve the outlook at the top-end of the wealth spectrum and create disparate distribution of wealth which some claim is even harmful for the beneficiaries) — and yet we’ve seen incredibly bleak jobs numbers during that span and in the short-run.

I can’t really enunciate what’s underfoot here.  The best that I can guess is that the tiny, ultra-privileged group of status-quo Teutonics who truly shape policy in this country are upset that, despite owning the media, our national discourse, and our economy, they haven’t been able to root out every last ounce of resentment over the gross disparity and corporatist agenda rampant in the land of the free-to-work-and-keep-their-mouths-shut and the home of the brave-and-jingoistic-when-it-comes-to-the-enemy-other-but-silent-when-it-comes-to-the-devil-within (I know, I’m sorry).  This sturdy group of look-alike gentlemen would really like it if we threw a ticker-tape parade once monthly to celebrate their hegemonic free-market for the poor, socialist for the rich economic victory.  Oh, and until they have that sort of triumphant acquiescence from every last one of us they’re going to hold our economy hostage, paint the first minority president with the resulting economic failures, and take their balls and go home until they’re able to ram, cram, foist, force a guy who looks and thinks like them in to highest office and reclaim their rightful place on the political pedestal.

Am I paranoid here? Does anyone else see things this way?  Now I’m over-anxious on a Saturday afternoon…

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2 thoughts on “Take Krugman as you like but…

  1. I would argue that your analysis is mostly right, but I think there’s a bit of a power struggle playing out between the Old Economy ultra-rich and the New Economy ultra-rich. Inevitably, the New will win out, but the Old will resort to whatever nastiness they can to try to hold onto their share of the wealth. Obama is more tied in with the new Economy folks, I think, which may not be good for him in the short term, but it is the safer bet for the long term. I’m not sure yet how that will play out ofr the rest of us, but it’ll likely get uglier before it gets better. Happy birthday, by the way.

    • FS — nice to hear from you and thanks for the thoughtful comment. You’re right, I could have taken it that step farther. This whole thing is akin to a seemingly-bloodless Bourgeoisie revolution with real, dire human costs which, as yet, remain largely unseen. Thanks for the birthday wishes. 30 feels very similar to 29.

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