Middle Class Screws Themselves Again

Has the middle class bought into Trump’s promises and screwed themselves again?

In the financial crisis of 2008 much of the blame goes to Wall Street greed and the inept actions of politicians deregulating the banks.  However, there is plenty of blame to go around and the middle class consumer shares some of that blame.

One of the simplest explanations I have seen is in the HBO movie “Too Big To Fail.”

As income inequality widens, the potential is there for another financial crisis.  A report by Credit Suisse shows that the 1% of the richest control half of the world wealth and the middle class continues to bear the burdens of debt.

The gaps in income and wealth between middle- and upper-income households widened substantially in the past three to four decades. As noted, one result is that the share of U.S. aggregate household income held by upper-income households climbed sharply, from 29% in 1970 to 49% in 2014.  More recently, upper-income families, which had three times as much wealth as middle-income families in 1983, more than doubled the wealth gap; by 2013, they had seven times as much wealth as middle-income families.

The Great Recession of 2007-09, which caused the latest downturn in incomes, had an even greater impact on the wealth (assets minus debts) of families. The losses were so large that only upper-income families realized notable gains in wealth over the span of 30 years from 1983 to 2013.  (Pew Research)

What does this have to do with the election?  Recent articles in the New York Times articulate the complexity of Trump’s holdings (here), massive debt (here), as well as the potential conflicts world-wide (here).

Clearly, Trump will be unable to separate his financial interests from the business of the nation. The big banks and Wall Street have shown no remorse for their responsibility in the financial crisis and continue with few regulations today.  Not one Wall Streeter or banker has gone to jail and they are elated with Trump’s election.  Wall Street and the big banks roll on with huge compensations, little regulation and shenanigans (à la Wells Fargo where no one will go to jail - here).  All the while those who voted for Trump - the middle class - stumble along uninformed and gullible.

The answer is, yes.  The middle class has screwed themselves again.

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Those Who Cannot Remember The Past

Anyone who doesn't believe Trump's campaign rhetoric was a dog whistle for the racists need only watch the video of the annual conference of the National Policy Institute where Trump's victory was met with cheers and Nazi salutes in a speech by its president Richard Spencer. 

"More than 200 attendees on Saturday, gathered at the Ronald Reagan Building in Washington, D.C., for the annual conference of the National Policy Institute, which describes itself as “an independent organization dedicated to the heritage, identity, and future of  people of European descent in the United States, and around the world.”  (The Atlantic)

Frighteningly similar victory speech:

 

"Those who cannot remember the past are condemned to repeat it."  George Santayana, 1905

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Desert Rain

We are getting a nice soft rain and the desert is soaking it in.

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A Big Gulp

About four years ago we purchased a used electric golf cart to use at the RV park we stay at.  At that time the salesman assured us it had good batteries.  In hindsight I wish we would have gotten a gas golf cart.

I'm not much for golfing, even though we take it on the course occasionally (never did get the concept of slugging a golf ball down range and then chasing after it).  Mostly we use the cart to cruise around the RV park.  This year the batteries gave out and wouldn't hold a charge.

Old Crappers

Some electric carts take 6 volt batteries, but this cart takes four 12 volt deep cell batteries. And the reason why I wish we could have gotten a gas golf cart?  Replacement 12 volt batteries cost $195. each.  With tax that comes to $209. each.  You read that right - $209. each.

I pondered brooded on that for about ten days until my wife finally said to move on and just buy the new batteries.  Now, as I've said in the past, I'm a bona fide cheapskate, so shelling out $836. for batteries was one of the most agonizing decisions.

Begrudgingly I bought four new batteries.  It wasn't much of a job installing the new batteries.  Just the pain of what I had just spent on them.

Ready To Install New

The New Almost Solid Gold Batteries

I'm over the pain of the $836. and we are back to cruising around with the cart, but man... was that ever a big gulp.

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I Still Have Hope

Wednesday is the day we go 6 miles down the road to the Mexican veggie and fruit market.

We've always found the produce to be fresh and reasonably priced.  The past couple of years a food truck also shows up and has some of the best gorditas for lunch.

New to the market this year we've also really enjoyed sweet potato empanadas made by a lady who sets up a stand.

She is a sweet Mexican woman who speaks only a little english, but clearly understands when she is complimented on her wonderful empanadas.  I don't know any of her background, but can't help but wonder what she thinks about the demogogues and hatemongers who want to chase her out of this country.  

Obviously, being in Arizona we routinely interact with Mexicans, including those just trying to make a living.  In every instance we've found them to be kind and caring.  Something hard to do when so many around them hate them.  Following the presidential election more of this hate will be fostered and that is a travesty.  I still have hope.  Barely.

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In Memoriam Gwen Ifill

Gwen Ifill

September 29, 1955 – November 14, 2016

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Happy 100 Years NPS

Getting past the election, I guess I'll post some pics of our stop over at the Petrified Forest National Park on our way here.  2016 is the centennial of the National Park Service, one of our most worthy and underfunded government entities.

Similar petrified wood we have seen is in Lemmon, South Dakota when we travel to my home state of North Dakota.

The National Park near Holbrook covers a large area and substantial scenery, including petrified trees where they fell millions of years ago.

Happy Centennial to the National Park Service!

   

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No Words

I have no words to describe this election.

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We're Doing Our Best

We have arrived at our winter home.  We got here yesterday afternoon.

This is the first year we left our fifth wheel here and it doesn't seem to be any worse for the wear.  The only glitch was getting the DISH system up and running.  Satellite is about the only option since we get poor over the air reception both at the farm and here.  That requires dragging the two receiver boxes back and forth.  Seems like I'm never able to plug them back in and have them work, which requires a phone call to DISH.

Within a day or two we will settle into the routine here.  It's a tough job being retired, but we're doing our best.

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It Just Doesn't Get Any Better

We had a good day sitting out the wind and rain in the rv.  We slept in, listening to the rain on the rv roof.  You rv'ers know what that is like and is somewhat soothing, especially when you are warm and toasty in bed.  Later in the morning we played a few rounds of gin rummy and watched a movie.

The forecast is for clearing tomorrow and we'll get it together and head out mid-morning.

The plan is to stop at the Petrified National Forest near Winslow, AZ on the way.  Looks like good weather there.

To close out the day today we went over to the casino and actually played a few machines. We donated $23 to the casino, but had a seafood feast at the buffet.  Here's a pic for blogging friend George at Our Awesome Travels.

Like my dad use to say, "it just doesn't get any better."

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We're In No Hurry

We are plugging away and on day two we stopped overnight in Las Vegas, New Mexico.

Today we continued west and decided to spend the next couple of days near Acoma Pueblo, New Mexico at the Sky City Casino where we spent a night last year.  They have full hookups of $16.50 and since the forecast is for strong wind and rain tonight and tomorrow it seemed like a good decision.  

We don't gamble, but enjoy a good buffet once in a while and tomorrow is the Friday seafood buffet.  Score!

On the way we stopped at the Pecos National Monument.  I've said it before, I wish more of our tax dollars supported the great work the Park Service does.

"This sizeable Pueblo community on the edge of the Plains was occupied for over 400 years. It was important in the history of the Spanish arrival in New Mexico, and the Spanish built and occupied a mission at the site for about 200 of those years. The site was abandoned in the 19th century by its last Pueblo residents." 

Saturday we plan to visit another national park near Winslow, Arizona.  We're in no hurry.

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On The Road Again

We're off.  We left the farm this morning on our way to our winter stay in Arizona.

We weren't sure of our route and decided to take the route today we have taken in the past.

We covered just over 400 miles today.  It is a lot faster and easier with the pickup camper instead of towing the fifth wheel.  Tomorrow we'll decide which way to go from here.  It's good to be on the road again.

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