Under Bush, economic inequality was bad, as 65 cents of every dollar of income growth went to the top 1 percent. Under Obama, however, that number is 93 cents out of every dollar. That’s right, under Barack Obama there is more economic inequality than under George W. Bush. And if you look at the chart above, most of this shift happened in 2009-2010, when Democrats controlled Congress. This was not, in other words, the doing of the mean Republican Congress. And it’s not strictly a result of the financial crisis; after all, corporate profits did crash, like housing values did, but they also recovered, while housing values have not.
This is the shape of the system Obama has designed. It is intentional, it is the modern American order, and it has a certain equilibrium, the kind we identify in Middle Eastern resource extraction based economies. We are even seeing, as I showed in an earlier post, a transition of the American economic order toward a petro-state. By some accounts, America will be the largest producer of hydrocarbons in the world, bigger than Saudi Arabia. This is just not an America that any of us should want to live in. It is a country whose economic basis is oligarchy, whose political system is authoritarianism, and whose political culture is murderous toward the rest of the world and suicidal in our aggressive lack of attention to climate change. (Matt Stoller)
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At some point soon, we will face yet another moment where the elites say, “Do what we want or there will be a meltdown.” Do we have enough people on our side willing to collectively say “do what we want or there will be a global meldown”? This election is a good mechanism to train people in the willingness to say that and mean it. That is, the reason to advocate for a third-party candidate is to build the civic muscles willing to say no to the establishment in a crisis moment we all know is coming. Right now, the liberal establishment is teaching its people that letting malevolent political elites do what they want is not only the right path, it is the only path. Anything other than that is dubbed an affront to common decency. Just telling the truth is considered beyond rude.
We need to build a different model of politics, one in which people who want a different society are willing to actually bargain and back up their threats, rather than just aesthetically argue for shifts around the margin. The good news is that the changes we need to make are entirely doable. It will cost about $100 trillion over 20 years to move our world to an entirely sustainable energy system, and the net worth of the global top 1 percent is $103 trillion. We can do this. And the moments to let us make the changes we need are coming. There is endless good we can do, if enough of us are willing to show the courage that exists within every human being instead of the malevolence and desire for conformity that also exists within every heart.
Systems that can’t go on, don’t. The political elites, as much as they kick the can down the road, know this. The question we need to ask ourselves is, do we? More here.