I saw an article online here: http://sacramento.cbslocal.com/2014/11/26/uc-davis-economics-professor-there-is-no-american-dream/ That talks about how there is no more upwards mobility at all, and that the American Dream is dead. I was going to do a short comment, but it turned out much longer instead.
Unfortunately, the professor is correct, but not in the way he thinks. The reason that the “American Dream” has died is because true Capitalism in this country has died. There was a time when someone could work hard, save and spend their money wisely, and when the time was right, take the big step up into a new social “class.” But it doesn’t exist anymore. It can’t exist at the same time that Socialism does.
These days TRILLIONS are spent EVERY YEAR to cure “Poverty”, and yet not a single person who is poor suddenly becomes not poor because of it. However, all the people working hard suddenly can’t get ahead because a large portion of their taxes are seized to pay for these programs. And like I’ve stated before, government taxing, borrowing, and spending is inherently destructive to the US Economy, causing a net loss of value.
These days the borders are just imaginary lines that illegal immigrants feel no guilt crossing. With the influx of tens of millions of no skill illegal immigrants, it drives the wage scale for everyone down, but most importantly, it drives the wages down for no skill Americans. How can we expect anyone to get ahead when we eagerly allow criminals to cut the feet off of our own American citizens?
These days the government debt drives ever higher and higher. And I’m not just talking about the $16,000,000,000,000 that the federal government owes. You have to consider the other “Unfunded Liabilities” that US government at all levels (federal, state, and local) owes. The pension money promised that isn’t there. The Social Security money promised that isn’t there. The medicare money promised that isn’t there. The “churning” (look it up) that the governments do on their debt to avoid paying back money now, won’t have near enough money to pay it back in the future. All of this adds up to about $200,000,000,000,000 . And that $200 trillion (11.5 times MORE than the claimed $16 trillion) is just estimated, using current lifespans. It will likely be more.
With these boat anchors hanging around the neck of Americans and their economy, there will not be any upward mobility until the problem is fixed.
Sorry it has been so long since I’ve posted anything. I found myself neck deep in work (which is a good thing), but now that’s slowed down a bit. I now have time to try to learn a new skill to get new work, and focus on some of the old drafts I have here.