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The New America

The New York Times has this sobering coverage of the long-term unemployed.  In past recessions, people who lost jobs eventually found work.  In this current depression, people who lost jobs are finding no work at all; or they are undermployed - working jobs well below their skills and prior wage levels.Within the next 20 years, barring an Argentina-level collapse of the country, there will be the following social classes: Ruling Class - Goldman Sachs; Middle Class Lite - some doctors, a few lawyers, some businesspeople; Government Middle Class- teachers, government workers, union retirees; Peasantry. Probably there is nothing that can be done to change this.  Incidentally, the destruction of the United States occurred under the leadership of the Baby Boomers...continue to full post

Full post as published by Crime & Federalism on April 02, 2010 (boomark / email).