From NYT op-ed columnist BOB HERBERT February 8, 2010 The Worst of the Pain
“We talk about the recession as if all of its victims were suffering equally, and all will be helped by some bland, class-and-category-neutral solution.
That is so wrong. As the Center for Labor Market Studies explained in its report: “A true labor market depression faced those in the bottom two deciles of the income distribution; a deep labor market recession prevailed among those in the middle of the distribution, and close to a full employment environment prevailed at the top.”
How much of a “depression”? Try “…30.8 percent. That’s more than five points higher than the overall jobless rate at the height of the Depression.”
He adds “This is dangerous stuff. Nothing good can come of vast armies of the unemployed just sitting out there, simmering.”
That most of this class is comprised of drop-out blacks and Hispanics– his note, not mine– I would add that a fair amount of included white folks are not just sitting there simmering– they are simmering in Teapot coalitions with their middle-class compatriots (whose unemployment is only 19%) as well.
This simmering pot of discontent is the stuff of takeovers for the libertarian/neocons backing teabag astro-turf and GOP strategists– and progressives need to recognize it and correct our messages accordingly or pay the price– YET ANOTHER far-right Republican decade punctuated only by a slightly less antagonistic Democratic party intermission.
