Who Hijacked Our Country

Wednesday, February 05, 2014

Inequality For All

Inequality For All is sooo good, it should be on everyone's required viewing list.  Robert Reich brings us some alarming, infuriating facts; facts we all need to know.

Even if you're liberal, even if you're already aware that America's gargantuan wealth gap is a threat to the entire country this movie will tell you things you didn't know.  It's worse than you thought.

The people who would benefit most from this movie the I'm so dumb I keep voting against my own interests crowd will of course not see it.

We've all heard that there are some eerie parallels between the late 1920s leading up to the 1929 Crash and the years leading up to the 2008 global meltdown.  But Robert Reich shows some charts and pictures that bring home just how striking these parallels are.  1928 and 2007 look almost interchangeable.  Talking about repeating history because we didn't learn from it.

Our lopsided wealth gap i.e. the 400 richest Americans have more wealth than the bottom half of the country put together creates massive social problems in addition to all the economic suffering.  There's a close correlation between income inequality and political polarization.  In the late 1920s, polarization and mutual hatred were as prevalent as they are today.

On the other hand, from the end of World War II through the mid 1970s when labor unions were at their peak, the middle class was thriving and the income gap was at its lowest political polarization was also at its lowest.

Deregulation of large industries, and the resulting income inequality, started increasing again in 1978.  Come to think of it, that's around the time that rightwing Biblehumping demagogues started whipping up their inbreds and getting them all riled up over gay rights.  Anita Bryant, Jerry Falwell where are they now?  But I digress...

When the wealth gap started rearing its head again in the late 1970s, the effects were less noticeable for several reasons.  Right around this time, women started entering the workforce in record numbers.  The huge increase in dual/multiple-family incomes helped stave off the approaching economic Armageddon.  Also, housing prices started increasing faster around this time, which was a boon to anyone who owned property.  At least until the bubble burst...

Anyway, this movie is very informative, fast-moving and well presented.  It's not the dry documentary I was afraid it would be.  And it's short just under an hour and a half.

Also, please check out the Inequality For All website, which they talked about at the end of the movie.

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Blogger jadedj said...

OK, thanks for the link. I'll watch it, but I have a feeling it is going to accelerate my already out of control pissed-offyness. So, in advance I say...COCKSUCKERS!

February 6, 2014 at 4:30 AM  
Blogger jim marquis said...

I will definitely check it out.

February 6, 2014 at 7:53 AM  
Blogger MRMacrum said...

I do not know why anyone bothers to remind people about repeating history. Our species seems unable to refrain. Some lessons need to be taught on a regular basis.

This kind of cycle has happened in many civilizations going back as far as Civilization.

An Absolute Free Market economy cannot coexist with the character flaws we have in our quivers.

February 6, 2014 at 8:11 AM  
Anonymous Anonymous said...

Thanks for reminding me, I had forgotten about this, now I have downloaded this to see this soon


February 6, 2014 at 9:54 PM  
Blogger Tom Harper said...

jadedj: Don't worry, you'll be even more pissed off after you've seen the movie.

Jim: Hope you will; it's worth it.

MRM: "An Absolute Free Market economy cannot coexist with the character flaws we have in our quivers." You nailed it. My sentiments exactly.

Erik: It's definitely worth seeing.

February 7, 2014 at 11:13 AM  

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