We watched the “Arab Spring” events that began to crawl across the globe in February. The broad demonstrations against the oligarchies that were running their countries took our breath away. That was true whether you were from the right, the left, or the middle of the political spectrum.
The same is not true when we hear of the Occupy Wall Street (OWS) folks. Depending upon your outlook, you are either incensed for or against the demonstrations. And, we have even heard folks rant that the demonstrations have all the wrong facts. Even though these OWS folks, whose aims are no more clear than those of the Arab Spring demonstrators, depict their animosity towards the financial oligarchies that really are running (ruining?) this country.
Oh, yes, there are secretaries and janitors that work for these financial oligarchs. Just like there were secretaries, janitors, teachers, and the like who work for the oligarchies in the Arab nations. Ranting against the leaders, who usurp power, money, and prestige at their whim is clearly not directed at those at the bottom. Moreover, those at the bottom don’t get to decide how much money/wealth those at the top skim from the rest of those institutions.
And, many of the OWS- and those who don’t demonstrate- are clearly bothered at the tarnishing of the “American Dream”. (Some may say we have been rudely awakened, to find that the dream has no bearing on reality.)
But, an interesting fact to many Americans- of all persuasions- is that the “American Dream” is, in and of itself, a relatively new phenomenon. One that developed as a result of the Great Depression- not the American Revolution (as some political pundits pontificate). James Truslow Adams (a fellow Brooklyn Poly graduate) wrote a book in 1931 (The Epic of America) which first used the term.
He stated that “The American Dream has been a dream of being able to grow to fullest development…unhampered by the barriers…erected in the older civilizations, unrepressed by social orders.” He further expounded that the worth of each person was the foundation of this country.
But, over the past three or four decades those at the top (and a certain political party) worked hard to return to the errant ways of the Robber Barons. To gerrymander the American Dream to insure that corporate executives could be paid 50 to 200 times the amount that same corporation paid its workers. Declaiming that those at the top made the company what it is- all by themselves. (See my previous post, Warren bares the warren of greed.)
Here are some of the new facts that obtain in America:
- The 400 wealthiest have a greater net worth (in total) than the bottom 150 million Americans.
- The top 1% possess more wealth than the 90% of those at the bottom of the ladder.
- The Bush tax cuts insured that 65% of the economic gains would accrue to that richest 1%.
- 25% of all millionaires pay a lower tax rate than more than 50% of those making $ 50,000 or so.
So, it’s not surprising that most folks are worried. Americans who felt they did everything right: They worked hard, got an education, and instead of a piece of the Dream, they now have no jobs and/or are overloaded with debt. And, just like this is the age of Web 2.0, we now have the American Dream 2.0. One that demands that corporate power paid for by Wall Street and legislated by K Street and Independence Avenue (which actually provide complete texts of proposed laws to Congress and very one of the 50 states in this union) be stripped of it oligarchy.
When did the American Dream become perverted to deny the dignity and worth of each individual? To denigrate the value of the American worker, who aspired to get ahead?
Roy, as I read these posts in order, I am more and more curious about your views on Occupy Wall Street.
I support it. What worries me most now is something that always happens when something grows and becomes a movement. Non-interested parties with other agendas and a lot who simply enjoy anarchy are joining in the activities now, and are contributing very negative acts that make the whole thing seem unsavory.
A good friend mentioned sex attacks and vagrancy/filth leading to the eviction of the folks from Oakland. Yet I spoke with so many people on Twitter who said that the people doing that were not known by the various groups of legitimate “occupiers.” These were newcomers who were not interested in furthering the cause.
I hate to see this happen—but every human endeavor does get muddled by these issues, I suppose. :/
You Go, Roy!
Your explanation of the term “American Dream” is very interesting. I did not know the history of this term.
The rich are getting richer and the middle class is getting poorer. I think all Americans should be concerned about this.
Most people don’t, Janette. We all think this is the way things have been forever. They haven’t.
As America spread west, the newcomers could break into the aristocracy because of their newer locations. It’s why it was LAND holders who voted at first. It’s why money counted back then. By the 1880’s, we had no new lands to create new power brokers. It was the Industrial Revolution that came to America and changed things after that. But, it was the landed aristocracy that was getting the benefits. The Depression began the slow shift and growth of the middle class. It was the Reagan and Bush programs to stop the growth of the middle class (oh, I know, trickle-down economics- where the poisoned, used water drips down from the upper crust who get the benefits) that is now clearly evident on everyone’s graphs…
Roy
Another provocative post – your passion regarding this issue is infectious my friend!
We need to have folks learn about finance- or we will be relegated to the dust heaps of history. Wait till tomorrow (or maybe the next day) for the “kicker”
Very well said, Roy.
What a bunch of confusion. The American Dream is just what it is, “a dream.” If any of us are able to slip through the cracks of the systematic strong hold of this government to make it to the top. Good for them. But, for everyone else who is caught in the tangles of financial oppression are sick and tired of the lies this country makes to keep the 1% were they are and keep everyone else scrabbling for the scraps of dollars.
Four years ago I decide to not let the failing economy stress me in any way. I will be grateful for what I have, live within my means and find other ways to increase my income. That’s my route of slipping through the cracks. 🙂
Tisha:
Your second paragraph is absolutely essential!!!! And, it’s the best antidote.
Thank you so much for sharing that essential truth.
Roy
Your welcome
For such an advanced country, it’s almost scary to think about the reality you lay out so well in this post, Roy. It’s true that there are so many well-educated people who seem to do “everything right” and end up with nothing because of this oligarchy. We always talk about equality, but sometimes the situation sounds just like countries that are known to be corrupt. =P
I believe that every country wants to start/perpetuate their own American Dream. The problem is that it needs to be based in reality, Samantha.
The American Dream is still with us, however, I see that it has been tarnished by those that still seem to require more and are not satisfied with billions anymore. Soon we will have trillionaires! Also the American Dream is disjointed and there is this gap between those that achieved the American Dream with the people that helped to get them there.
It is disappointing though Roy to see politicians agrue over what they said in a book or in an interview which is suppose to matter . Instead I agree, more of us need to LEARN finances.
You know I was in the financial mortgage lending industry for more than 22 years. I always said that we need to be teaching our kids in school about finances, stress more on economics early on so there are more educated people in what seems to be clearly something we need. And deeper understanding about finances so we can actually run a country and know what a balance sheet really is!
Oh, I hope we can resurrect the American Dream, Lynn! But, given the way the system is being rigged to favor those at the top, it takes even more effort to break that barrier.
And, I ABSOLUTELY support teaching our children finances. When I was little, we had to balance a checkbook, with daily expenses for two months. It was part of our second and third grade arithmetic classes. In fourth and fifth grades, we were “given” $ 1000 in fake money. We had to buy and sell stocks (1 to 2 a day), charting their performance and our equity for three months. It graduated to puts and calls for the next year. And, finally, in 7th grade (the last time I recall doing it), we had to report on the profit/loss/balance sheet performance of three companies a week for two months- and compared and contrasted them among the other members of the class…
Roy
BTW- I hope it wasn’t Countrywide 🙂
I want to say – you arrogant Americans. The dream that has been destroyed is a dream of most people who lived in the western world. Not one Baby Boomer I know expected the world to turn out the way it has and even if we are responsible for some of it, the world today is different than expected
Roberta-
America has a strong belief in the “Dream’- it’s what sold to the lower and middle classes to keep them at bay. It’s why immigrants come here (NOT for the ‘freedom”, generally, but for the chance to progress. It’s not a selling point for most other countries- with the exception of Israe-l, which has a strong entrepreneurial and extended educational population.
Oh, and both those countries believe in ‘exceptionalism’, too.
Paula:
This has been the situation with every movenent going back to the late 50’s. (I am only using personal experience.)
Oakland may be a special case besides due to the arrogance and capriciousness of the ‘police’ force (with an emphasis on the latter).
I have no fuly formed opinion of OWS. That is mostly because there is no fully formed agenda. Right now, both proponents and opponents of the grand concept are using elements to support their own agenda (it’s anti-Semitic, anti-gay, communist etc.).
Do I think the leaders of the Wall Street firms need to be prosecuted? You bet- including the jackass who scooted away from FannieMae. But the real issue is we need to educate American voters what is at stake. The policies that enrich the rich, feeble the middle class, and destroy the poor are really rendering this country to become un-American! The American Dream, give me your tired (so we can enable them), and to dream the impossible dream is what rendered this country capable of becoming the world power and leader it is/was… My children, your children, and our neighbor’s children deserve better!
Roy