Thomas Piketty on the rise of Bernie Sanders: the US enters a new political era

[Uncle Joe]

How can we interpret the incredible success of the “socialist” candidate Bernie Sanders in the US primaries? The Vermont senator is now ahead of Hillary Clinton among Democratic-leaning voters below the age of 50, and it’s only thanks to the older generation that Clinton has managed to stay ahead in the polls.

Because he is facing the Clinton machine, as well as the conservatism of mainstream media, Sanders might not win the race. But it has now been demonstrated that another Sanders – possibly younger and less white – could one day soon win the US presidential elections and change the face of the country. In many respects, we are witnessing the end of the politico-ideological cycle opened by the victory of Ronald Reagan at the 1980 elections.

(snip)

All this was carried through almost without unemployment, since both the level of productivity and the education system allowed it. This is also the time when the US finally put an end to the undemocratic legal racial discrimination still in place in the south, and launched new social policies.

(snip)

Meanwhile, the Republican party sinks into a hyper-nationalist, anti-immigrant and anti-Islam discourse (even though Islam isn’t a great religious force in the country), and a limitless glorification of the fortune amassed by rich white people. The judges appointed under Reagan and Bush have lifted any legal limitation on the influence of private money in politics, which greatly complicates the task of candidates like Sanders.

However, new forms of political mobilization and crowdfunding can prevail and push America into a new political cycle. We are far from gloomy prophecies about the end of history.

http://www.theguardian.com/us-news/commentisfree/2016/feb/16/thomas-piketty-bernie-sanders-us-election-2016

[Live and Learn]

1. At least until they figure out a way to stop it. K&R nt

[metroins]

2. This election season isn't as nuts as we think

Remember, John McCain and Palin....absolutely nuts.

I think the Republicans went so far crazy, that the Democrats accept the one liners from Bernie.

He literally says the same thing over and over without context. He wants to raise taxes, without providing how on earth Congress will approve it. He wants a minimum wage increase, Congress won't approve it.

This is the year of angry voters who will believe in anything.....

But what's nuts is, our economy is growing, unemployment is down, blah blah blah. Our country is doing so well right now, yet people want "political revolution".

Well no thank you, I'm happy that things are going well and I'm not angry.

[Uncle Joe]

3. If your premise is true, why are there so many angry voters?

This is the year of angry voters who will believe in anything.....

But what's nuts is, our economy is growing, unemployment is down, blah blah blah. Our country is doing so well right now, yet people want "political revolution".

[metroins]

4. I have absolutely no accurate idea

I would like to blame the media.

They make people afraid of terrorism, gun/gang violence, and solar flares. When each one is down on a historical trend. Just like the GOP thinks taxes are high, when they're historically low.

We are in the information Era and not all information is accurate. If only people would look at FRED charts for real data

The economy is up, unemployment down, we are safe and we have more rights. Things are good.

[Uncle Joe]

8. I agree with you to a certain extent, things are better now than they were at the end

of Bush the Least's pResidency but over the long term going back to at least 1980 there has been a continuous erosion on multiple fronts in regards to the American Peoples' standard of living.

Reaganism has run its' course and the people are ready for change, neither Bill Clinton or Barack Obama severely altered that long destructive trend, both more or less just using a warmer and fuzzier version of those policies.

As for the unemployment figures which the government has touted for decades, they're inaccurate not reflecting people that have given up on the search for jobs and those underemployed.

There has been a massive transfer of wealth from the middle class to the wealthiest individuals and mega-corporations over decades and the people by and large have come to that realization.

We are in the Information Era and while not all information is accurate the cumulative effect has been a raising of the peoples' knowledge and awareness.

Lies and propaganda can be dispensed in a flash on the Internet but so can the truth and rebuttals.

Even prior to the Information Era, information was incorrect but it was dispensed in a one way, top down fashion without the instantaneous mass two way debate engendered by the Internet.

This powerful and profound democratization of information is driving the political revolution taking place today.

[metroins]

9. I'm just not sure if I want

A political revolution, when things are good.

It hasn't actually been a transfer of wealth. The wealthy got MUCH richer, but the middle income stayed roughly the same, whereas quality of life has gone up across the board.

The wealth wasn't transferred to the top from the middle class, it just accumulated there without trickling down. There's stagnation, but not depreciation of the middle class.

The people that have given up etc is another discussion, in my opinion, it's not a talking point when you delve into the data, but that's a long long deep deep conversation on macroeconomics and macro sociology.

I'm just saying, my life and my parents lives are much better than they were/could be compared to the past; I do not understand why people are so angry.

[Uncle Joe]

14. There has been an increasing stratification of wealth and the middle class has been losing ground.

This didn't come about by accident, governmental policies over the past 35 plus years have driven this dynamic, whether it be tax policy, free trade or the continuous assaults on the peoples' safety net.

This is a transfer of wealth when government relies on tax income to fund itself while programs or policies benefiting the middle class and lower income brackets take the hits all in the name of "smaller government."

What I don't like about these graphs is the combining of the upper and lower incomes on the same pillar so try to separate them in your mind's eye.

The American Middle Class Is Losing Ground
No longer the majority and falling behind financially



After more than four decades of serving as the nation’s economic majority, the American middle class is now matched in number by those in the economic tiers above and below it. In early 2015, 120.8 million adults were in middle-income households, compared with 121.3 million in lower- and upper-income households combined, a demographic shift that could signal a tipping point, according to a new Pew Research Center analysis of government data.1

(snip)

Over the same period, however, the nation’s aggregate household income has substantially shifted from middle-income to upper-income households, driven by the growing size of the upper-income tier and more rapid gains in income at the top. Fully 49% of U.S. aggregate income went to upper-income households in 2014, up from 29% in 1970. The share accruing to middle-income households was 43% in 2014, down substantially from 62% in 1970.2

And middle-income Americans have fallen further behind financially in the new century. In 2014, the median income of these households was 4% less than in 2000. Moreover, because of the housing market crisis and the Great Recession of 2007-09, their median wealth (assets minus debts) fell by 28% from 2001 to 2013.

Meanwhile, the far edges of the income spectrum have shown the most growth. In 2015, 20% of American adults were in the lowest-income tier, up from 16% in 1971. On the opposite side, 9% are in the highest-income tier, more than double the 4% share in 1971. At the same time, the shares of adults in the lower-middle or upper-middle income tiers were nearly unchanged.




http://www.pewsocialtrends.org/2015/12/09/the-american-middle-class-is-losing-ground/

[metroins]

15. I will have to reply in the morning

Thank you for taking the time to put thought into your posts. I have read them and they are very provoking towards thinking.

It's a little late, so I'll have to pick it up in the morning.

Again, thank you for your thoughtful insight.

[Uncle Joe]

16. Thank you and have a good night.

[kristopher]

5. Do you have anything to say about the OP?

Why is Piketty right or wrong?

[metroins]

11. To answer your question

I think the blanket statement

"We are entering a new political era"

Is always correct. Each election cycle is completely different in its own way. I don't think it has to do with Bernies political stances, but more the way he delivers the message...in a Trumpesque angry voter way.

We're in a "sounds good" era instead of a complex answer era.

Which might not be bad, because no matter who is elected, D or R, they're not going to get what they want passed. So you might as well yell the loudest to get the job.

[TransitJohn]

10. Well, that's awesome things are going great for you.

Fuck all these other loudmouths supporting Bernie, huh? The nerve.

[metroins]

12. Please do not put words in my posts

That are not there.

Unemployment is down, crime is down, life expectancy is up, world's #1 economy and military along with more rights and easier access to Healthcare.

On a macro level, the country is doing amazing.

[TransitJohn]

13. That stuff doesn't feed people

Or pay the tens of thousands of dollars you have to take in debt to get a bachelors for a $20/hr job. Try getting some perspective. Struggling people don't care about this pablum of 'number 1 economy and military'. In fact, that's why we're so impoverished. Finally, for-profit insurance most emphatically does not equal care.

[UnBlinkingEye]

6. Piketty picks postponing progress preaches patient passivity

NT.

[pat_k]

7. k&r

[WillyT]

17. Huge K & R !!!