Of course as the middle class is hollowed out, businesses will die, which creates more poverty, which creates fewer jobs because there is no demand, while the fucking billionaires and Wall Street crooks and their henchmen in D.C. and in the statehouses find new, more inventive ways to fuck over the American people. Right now, thanks to "Democrats" in D.C. giving the green light, they are going after public education to rip taxpayers off to enrich themselves. They are also going after public employees in general and public pensions in particular in order to rip people off and gamble it all on Wall Street. In other words, they want to sell off public assets by creating a false "crisis" to enrich themselves even more.
It is inevitable there will be revolution if this isn't stopped, and billionaires and Wall Street crooks will be rounded up by desperate people and murdered. Unfettered greed cannot continue. It is practically a law of nature that you cannot continue to steal and steal and steal and there be no consequences for your actions.
It's like we have this same goddamned situation every century. As generations who went through financial hardship through depressions die off, their children and grandchildren, spoiled rotten as they are, have NO frame of reference in which to base their voting decisions. They become very easily conned by the elite of the top one percent to hand their hard-earned money over to these elites, using politicians to take away regulations that were there to prevent revolutions by the masses and preserve capitalism, shifting the tax burden on the masses so these criminals can have more, and cramming a phony ideology (neoliberalism) on the masses via the media and "think tanks" they own to justify the thievery.
While spending among the most affluent consumers has managed to propel the economy forward, the sharpening divide is worrying, Mr. Fazzari said.
“It’s going to be hard to maintain strong economic growth with such a large proportion of the population falling behind,” he said. “We might be able to muddle along — but can we really recover?”
Mr. Fazzari also said that depending on a relatively small but affluent slice of the population to drive demand makes the economy more volatile, because this group does more discretionary spending that can rise and fall with the stock market, or track seesawing housing prices. The run-up on Wall Street in recent years has only heightened these trends, said Guy Berger, an economist at RBS, who estimates that 50 percent of Americans have no effective participation in the surging stock market, even counting retirement accounts.
Bring back the 90-percent tax rate on the rich, institute a wealth tax, repeal the trade policies of the past thirty years and institute stiff tariffs, and watch the economy roar back with a vengeance.
But we can't have that, can we? Our "betters" won't allow it.