Where this all ends --- It ends, says economist Jeff Faux, in "the servant economy."

[kpete]

Where this all ends

It ends, says economist Jeff Faux, in "the servant economy."

I'm talking about a future for the working American and the working American family. It seems to me that much of the debate about what's going to happen to America is about America's place in the world. Washington is full of discussions about, is the U.S. down? Is China up? And then we look at the economy from a perspective of somewhat abstraction but the question that I ask in the book is not what's going to happen to America in the world, but what's going to happen to Americans, given the evidence that's all around us.

And by The Servant Economy, I'm talking about a future, another 10 or 15 years towards which we are headed, in which we will see class divisions much deeper than we have today. We will see disappointed young people who are over-educated for the jobs that they're being offered.

We're going to see a low-wage, increasingly low-wage economy, pensions gone, people having to work until they drop and I think that's where we're headed. It sounds like a dystopian nightmare, but if you look at the economic evidence, it's seems to be that's clear.

For example, we know that even before the great crash of 2008, American wages, hourly wages had been flat for 30 years, real wages, that is if you adjust for inflation, flat for 30 years. Now that doesn't mean no one ever got a raise, but it means that someone in 2007, just before the crash, who had two years of college education and a certain amount of experience was getting no more than that person in 1979.

...............................

http://thedianerehmshow.org/shows/2012-07-17/jeff-faux-servant-economy/transcript
http://prairieweather.typepad.com/big_blue_stem/2012/07/where-this-all-ends.html

[limpyhobbler]

1. k+r

It takes skill to write doom & gloom like this. Well done.

[sendero]

9. And even more..

... to be essentially correct. Pretty much everything he is saying is already happening and there is nothing on the horizon to reverse it.

[whatchamacallit]

2. Lucid - K&R

[shanti]

3. the end of the middle class

when i was doing my family tree, i noticed that in 1900 (+/- 20 years), many relatives were classified as laborers or servants. back to the future.....

[1-Old-Man]

4. Oh, there will still be a middle class. There is always someone between the slave owner and slave

A class of Overseers. The guys with the whips.

[Initech]

5. It's what our billionaire terrorist overlords really want for us.

Hey assholes - how are you going to expect to stay rich if no one has any money to buy your shit??

[B Calm]

6. Predatory Capitalism SUCKS!!!

[newspeak]

15. yes, "predatory capitalism" sucks!!!

the oligarchy with the help of a very complicit media, sells patriotism, division and the randian dream to the plebes. But, in reality, they are not americans, have no interest in the well being of this country; only how much they can exploit our resources and the american people; while making a killing on the global market.

I'm hoping, at least, the europeans will see the man behind the curtain; because many americans are absolutely clueless. I remember in college history class talking about the forming of the EU-how citizens from the european countries involved would have to sacrifice to make it happen. Sacrifice some of their entitlements in order to be "COMPETITIVE IN THE GLOBAL MARKET." I call bullshite. Because, it's a handful of main players, global players, who have the power to influence many countries (regulations, labor) and influence the economic fate of countries.

Most of our politicians are stooges for these mega corporations; and some would sink the people in this country in a heart beat for a prestigious position or money. See how the repugs really cared about strengthening our infrastructure after little boot's deregulation, raid on the treasury and wars for profits? See how they care for people losing their decent jobs and their assets, pensions? They can wear their little flag pin; but, they show by their very actions, all they care about is shoving their archaic, misogynist ideology down our throats; not building our infrastructure or creating decent jobs for americans. They'd stall, harm this country and the american people; just so they could have all of the power; like little boot's had. See, how much damage he did in eight fekkin nightmare years? They could just finish us off, with their beliefs, we'd truly be living in the "handmade's tale."

[nadinbrzezinski]

7. And it is in this where the seeds of deep

Social unrest happen to be.

[Gregorian]

8. Servant economy. I knew what it was, but never could put the proper word to it. That's it.

I was immediately offended when I heard the phrase. I even wrote an econ paper in a college course. But until just now I never put the exactly perfect term to it.

I think we're making progress in pegging the fascists.

[Trillo]

10. I've been told by at least one DUer that education is its own reward,

essentially that it is unreasonable to expect education to result in monetary earnings.

[hifiguy]

11. This has been the plutocracy's long game

for at least forty years. It's them or us.

[Skidmore]

12. Perhaps a consumer revolt is the ticket to turn the tables.

Just because someone produces junk doesn't need we have to buy it. Buy the essentials and keep trinket purchase to a minimum. No one needs a huge closet of clothing or junk jewelry or doodads and dust catchers. You don't need new every time and you certainly don't need new car or computer every year.

[Hydra]

16. That's why the smart ones trade in oil and wheat

And do their best to make sure you don't have an alternative.

The real gold? Drinkable water. Expect to have to pay top dollar to survive if things continue as they have.

[Odin2005]

13. Lords and serfs.

Corporations are the new "manors".

[Fire Walk With Me]

14. "Kings and queens."

[nc4bo]

17. and the rich shall inherit the earth.

I just did a lot of connecting the dots today and posted on my Facebook; beginning with David Bossie, CitizensUnited.org and Excellentia.com and the Citizens United decision, American Crossroads, Karl Rove, Reagan and the Radical Right and how all the pieces fit. What the end game is and what it means to every American not belonging to the 1%er class.

It's a very, very complex web and it's so atrocious, hard to believe it could/IS happening right now.

This is not a conspiracy theory, it's all so inconceivable and unbelievable, it really sound likes one. Until you connect the dots then it all makes sense.

[DirkGently]

18. Absolutely. (nt)

[riderinthestorm]

19. Big K&R. Thanks kpete. Great article. Keep em coming... nt