The Issue of “Income Inequality” Steps over the Issue of “Economy”, “Unemployment.”

Finally, the issue of “Income Ineqality” appears to have became the Primary Issue of 2012 Election Campaign.

As 65% of people thinks that “Double Dip Recession is a Certainty in near future.”  

http://news.yahoo.com/economic-inequality-issue-2012-campaign-085000009.html

Excerpt: “Fighting to win over unhappy American voters, President Barack Obama and his Republican challengers are seizing on one of the most potent issues this election season: the struggling middle class and the widening gap between rich and poor. Highlighted by the Occupy movement and fanned by record profits on Wall Street at a time of stubborn unemployment, economic inequality is now taking center stage in the 2012 presidential campaign, emphasized by Obama and offering opportunities and risks for him and his GOP opponents as both sides battle for the allegiance of the angst-ridden electorate. For Obama, who calls boosting middle-class opportunity “the defining issue of our time….”

Two Christmas Presents from G – to the lord within a span of a few days.; God seems to have delivered the inquiry. As much as stay in Him.

US Economy and Middle Class Income: Sorting the Thinking Again

Question:Why US income discrepancy between rich and poor seems to be far larger than those of EU, Asia, and the rest of world?

The two main factors of the larger US income discrepancy between rich and poor than the rest of world:

(A) the larger US market size (aside from multinational companies ) than those of European, and other countries and the consequently larger earning power of US corporations and individuals (remember. It’s the United States (50 small states/countries) of America that has enjoyed the huge combined market size and the consequent economic/military power and American hegemony in the world; no wonder why European countries have formed EU and other Asian countries forming their economic ties in competition with the US);

(b) the stronger influence on US politics of corporations/riches based on their larger economic power and the stronger role of interest politics in the US that has contributed to (1) the more lenient government regulations and monitoring of business practices, far lower tax rates on riches than those of European countries, which have been summed up to (2) the weakening of government role of more evenly redistributing social wealth / resources across different economic/social classes instead of higher concentration of wealth on rich, and suppressing the income growth of middle/low economic classes.

Somebody wrote “….grafs of the progress of the middle class from 1900 til 2011.” Although it would be interesting to create my own indices/measures of the trend of “how US middle class has been doing?,” and I think there were also some graphs of this kind but can not remember where, to save the time and energy in doing so, I’m doing a quick and easy sorting/editing of old and a bit new info here.

The main contributing factors to “Shrinking US Middle Class Income (I can think of now)” are categorized as the “Big Three” below.

Contents

(A); (B) – (1) (2); (C)

Main Texts

(A) The globalizing world/US Manufacturing, Trade, and Shift of Manufacturing / Jobs (of low / medium educated / skilled) Bases From US to Developing / Less  Developed Countries with Cheaper Production Costs (the kind of jobs that have mainly supported US middle class): Shrinking US Middle Class Income.

(B) In Conjunction with (A), the Increasing US Reliance on Consumption as a Source of GDP Growth:

“NPR reported that 70% of US GDP (or GDP growth) has been based on Consumer spending, which has been the structural problem of this economy and a significant contributing factor to “disappearing middle-class America.” It addressed to transform this country from consuming (consumption-driven) country into producing (production-driven) country, which is believed to be “the corner stone of US Nation Building from economic perspective.”

The combined impacts of (A) and (B) have affected US Job Structure into the following (1) and (b) structure:

          (1) Shringking US tradable sectors/Jobs (that includes manufacturing goods, engineering, computer design etc.) – Shrinking US Middle Class Income

         (2)  Increasing US non-tradable sectors/Jobs (that includes sectors such as financial sector, medicine, construction, retailing, restaurants, hotel, many of which pay low wages/benefits) - Shrinking US Middle Class Income.

(C) Evolving US industial/business strucutructure toward Lose / Lack of Regulation / Supervision and the Consequent Concentration of Economic Wealth / Resources on the group of rich/owners of capital, knowledge that has been drained from that of Middle/Low Income Groups: Shrinking US Middle Class Income.

Below graphs well depict the concentration of social wealth on top income groups (source: Mother Jones, http://motherjones.com/politics/2011/02/income-inequality-in-america-chart-graph)

 ”entering the scriptures ecclesiastes 2:22-26″. entering how?; “ecclesiastes 2:22-26″ oh, yes. That’s right. Then someone will physically find a place for me to move and pack all my stuffs while i do other things of higher meaning???; “disperancy graph between wealthy and middle class” ?probably, any possible analyses on “US middle class crises’ must have been done and every possible graphs of the issue must have been drawn. why am i supposed to check on it???  believe or not, am in very chaotic situation (although my mind is very happy, high spirited thanks to God’s promise), in need to move, take care of kids / legal stuffs, find other etc etc…? am i supposed to seat down to dig into this issue at this point of time? Of course if it is my job, definitely I will do. But now i have other urgent issues of living for the time being????; in awe of God; in awe of Llord.

Mr. Obama, the Dear Person.

“Actress Mila Kunis: ‘I Love Barack Obama”

Here is good news. A beautiful actress, “Mila Kunis,” proclaimed that she “ loves Barack Obama” no matter what. She voted for him and she will forever be proud of her vote. Many people listen to beautiful woman, don’t they? (source: http://newsbusters.org/blogs/tim-graham/2011/09/07/actress-mila-kunis-i-love-barack-obama-adds-young-republicans-are-ill-in)

America Without a Middle Class

That’s right. I worry about the future of young generation, the future of my kids. I worry about how to protect them from this increasingly “UNSURVIVABLE LIVING ENVIRONMENETS” of this country where middle class and poor people have to save their money for food and clothing to feed the pockets of company executives so that they can live like kings and quees of ancient times.
My kids are doing great at school. So, I’d like to assume that they will be successful in their future. But what if anything unexpected happen to them, to us. And they were not able to go to higher education and have to end up having high school diplomas and have to work several jobs to make basic living. But still can not afford to have house or ????
This country is going to be increasingly un-inhabitable to people who has just high school diploma or even with college degree if the social, economic system continues to be corrupted as it has increasingly been.
More on The Recession
Read the Article at HuffingtonPost

America: Is it in the Passage from a Land of Dream to a Land of Harsh, Unsustainable Life?

I recommend you to read Dr. Elizabeth Warren’s blog “America Without a Middle Class” at Huffington Post.

http://www.huffingtonpost.com/elizabeth-warren/america-without-a-middle_b_377829.html

This is a respectable article that tells us the big picture of where this country is standing in “its passage from a land of dream to a land of harsh, unsustainable life and social economic systems” for the majority of people. In this country, working hard has been increasingly dissociated with having financially manageable, good life and securing financially relaxed retirement.

This blog tells us how this country’s wrong, deceptive economic, social systems have increasingly forced people to sacrifice their money for basic necessities, including food and clothing, to feed the pockets of riches such as those in the financial industry, to the point of unmanageable life. This blog makes us better understand why we need “reforms” in various industrial, social, economic sectors.

Throughout history, we witnessed the demise of nations happening when riches, ruling classes extorted money/resources from the middle, low-income classes, creating unstable social structure and clash between classes. How the current US situation is different from the lessons of history?