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Archive for July, 2010

VERY. IMPORTANT. ARTICLE. By Michael Lind, Salon:

Are the American people obsolete?

The richest few don’t need the rest of us as markets, soldiers or police anymore….

I’ve actually been saying something like this for a while now, although not as articulately. I believe it is these issues that are driving the citizens’ discontent from both the right and the left. If only we could talk to each other, identify the problem and take our country back from the brink!  As long as our legislators don’t need us either, we are doomed.

This marks a historic change in the relationship between capital and labor in the U.S. The robber barons of the late 19th century generally lived near the American working class and could be threatened by strikes and frightened by the prospect of revolution. But rioting Chinese workers are not going to burn down New York City or march on the Hamptons.

What about markets? Many U.S. multinationals that have transferred production to other countries continue to depend on an American mass market. But that, too, may be changing. American consumers are tapped out, and as long as they are paying down their debts from the bubble years, private household demand for goods and services will grow slowly at best in the United States. In the long run, the fastest-growing consumer markets, like the fastest-growing labor markets, may be found in China, India and other developing countries.

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