"Our enormously productive economy...demands that we make consumption our way of life, that we convert the buying and use of goods into rituals, that we seek our spiritual satisfaction, our ego satisfaction, in consumption.... We need things consumed, burned up, replaced and discarded at an ever-accelerating rate"- Victor Lebeau, 1947
"Too much consumption and too little investment, too many imports and too few exports. We have not been on a sustainable economic track and that has to be changed. But those changes don't come overnight, they don't come in a quarter, they don't come in a year. You can begin them but that is a process that takes time. If we don't make that adjustment and if we again pump up consumption, we will just walk into another crisis."- Paul Volker, 2009
"If you look around, you see how many people is out of work, number one, and you see how many people is in foreclosure or lost their homes or in default because they've lost their jobs, that tells you right there what the economy is doing." - Middle Class American, 2009
A tiny part of a tiny part of the population of the earth had constructed a global economic architecture that sustained it in wealth and excess, security and predictability. In a scant forty years that wealth, excess, security, and predictability have proved to be entirely unsustainable. The approaching political climate of the American middle class will reflect the shock and desperation that may now be starting to manifest itself. How Americans react to their fast changing circumstance and what they will do about it will deeply affect the 95% of the earth's humans who are really only along for the ride.
In 2008, America gambled on hope, as hope is all it had. A new administration faced the growing catastrophe in the only way it could understand, frantically pumping in dollars to resuscitate a prostrate consumerism. An insane amount of debt piled up, the annual deficit soaring through $1,000,000,000.00. One trillion dollars. Absolutely none of it was used to purchase plasma TVs, hot tubs, or bling. The richest of Americans - as they always have - prospered along Wall Street and summered in the Hamptons while the drought stricken middle class waited for a rain that will never fall.
The American middle class will not spend its way out of disaster, if only because it can't. There are no savings. The house is worthless. The credit cards are gone. Jobs are disappearing. Today is bad and tomorrow looks worse. People are nervous, frightened, worried. They are behind in the mortgage, and struggle to make health insurance payments. All the while, they watch the stock market explode, the bonuses arrogantly roll on, and their government lie to their faces that the "recovery" is underway. China is booming, so is India and Brazil. Beneath the hope, patriotism, and the flag, the American middle class can feel it all slipping away.
In a nation consumed by politics, where pandering and lobbying are two sides of the same platitude, what will the increasingly angry gentle folks of Ohio, Iowa, and Florida demand of their philandering representatives in Washington? What form of instant remedy will some baseless political hack come to offer them as the snake oil for what ails them? How will those decisions come to dominate the lives of those in Canada, Ecuador, and Ghana?
In the distant future, historians will consider the rise, fall, and collapse of the great American Dream and conclude that was the cause of all that followed. None will be surprised at the all too human response of anger, frustration, and action in the teeth of injustice and inequality. After all, history is full of angry people who just weren't going to take it anymore. They will wonder only how it was we could not see it coming - how we could be so stupid to have blown it.
The coming fury of angry America is as palpable as it is silent. What will that tiny part of a tiny part of the earth's population do when the utter hopelessness of the situation washes over them and the tides of history curl around and bear them, inexorably, into the past?
What will they do?
Aetius Romulous
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