http://boztopia.com/?p=6bankruptcy, ceo compensation, class war, credit cards, debt, economy, foreclosure, globalization, Home Depot, jobs, Michelle Singletary, Robert Nardellihttp://boztopia.com/?p=6#comments

Joe has some very thought-provoking commentary at CenterBlue about why Americans don’t feel like the economy is a success:

Americans have a long history of believing they live in a meritocracy–a society where anyone who works hard enough can climb the upper rungs of the ladder of success. Globalization and a broken American system of business are increasingly rigging the game against most Americans while letting the upper class elite reap wealth beyond the imagination ofmost people.

Absolutely. The nature of class is that of power. Those that have power wish to retain it, and keep those others who want it from ever attaining it. Our country is becoming a land where even being a millionaire doesn’t count for much–where the lifestyles of the rich and famous have become so absurdly extravagant as to be comical. Yet this is what we are told to aspire to, and to stifle any discussion of class war or rigging the game, because in America, anyone who works hard and plays ball can reap the gains. Right?

But the supposed gains in the stock market are pretty much smoke and mirrors, and even if they weren’t, how many of you on my friends list alone are honestly capable of reaping its benefits? I can think of maybe five, tops, not including myself. And if you think it’s tough making a living as an educated professional, try living at minimum wage for just seven days, and see how long you last.

Everywhere you look, the American dream is crumbling for those who have slaved and sacrificed to earn it. People have been locked out of owning homes because of absurd price gains, so they’ve resorted to reprehensible “creative” mortgage products just to get in the door. The result? Foreclosures on the rise everywhere. Employees around the country are forced to work sickening jobs just to maintain meager health benefits. And speaking of health care, so much risk is being shifted onto individuals–and the plans are so complicated and hard to manage–that one wrong step can nearly bankrupt you. Michelle Singletary’s a nationally known and respected consumer columnist. If this happened to her, imagine what happens to the people who don’t have the savvy!

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