Tuesday Reads

The reaction Obama should have to the unemployment numbers

Good Morning!! I wrote about Obama’s three-state bus tour last night, so I won’t go on and on about it; but I watched the speech at the Decorah town hall late last night. I just had to share this excerpt:

“We had reversed the recession, avoided a depression, gotten the economy moving again. But over the last six months we’ve had a run of bad luck. Some things that we could not control.” He mentioned the Arab Spring, which led to higher gas prices, the tsunami in Japan, and the European debt crises.

“All those things have been headwinds for our economy….Now, those are things that we can’t completely control. The question is, how do we manage these challenging times and do the right things when it comes to those things that we can control?”

“The problem is that we’ve got the kind of partisan brinksmanship that is willing to put party ahead of country, that is more interested in seeing their political opponents lose than seeing the country win. Nowhere was that more evident than in this recent debt ceiling debacle.”

So nothing was wrong with the administration’s policies? If it hadn’t been for those uncontrollable events, everything would have been just fine? Excuse me, but wasn’t there a report a last week that showed there basically has never been a real recovery?

Have you been following the Anonymous protests against the Bay Area Rapid Transit (BART) authority in San Francisco? The protests were in response to the shooting of a homeless man by BART police–the second such shooting in the past couple of years.

After a white BART police officer shot and killed an unarmed black man shortly after New Year’s 2009, the transit agency agreed to 127 policy changes recommended by an independent auditor. They included arming officers with Tasers and providing crisis-intervention training for the BART police force.

Eighteen months after the auditor issued its final report, BART has fulfilled only a fraction of those recommendations. By last month, barely a quarter of all officers possessed Tasers, even though the agency had purchased enough for each one. Just 10 percent had received training in how to defuse potentially violent situations involving the mentally ill.

On July 3, a BART officer shot and killed Charles Hill, a homeless man, at the Civic Center station in San Francisco. Transit police said Mr. Hill, appearing inebriated, was armed with a bottle and two knives and acted aggressively when two officers confronted him. After a minute-long confrontation, one of the officers shot Mr. Hill.

Last week, the hacktivist organization attempted to shut down BART with a ddos attack, which failed. Next,

participants took to raiding databases and leaking the personal information of 2,000 people.

On Thursday, BART switched off access to voice and data services, from all of the major cellular carriers, including AT&T, Verizon, Sprint, and T-Mobile. The shutdown was in response to plans to use mobile devices to coordinate protests during the evening commute.

“[The protest organizers]…stated they would use mobile devices to coordinate their disruptive activities and communicate about the location and number of BART Police….BART temporarily interrupted service at select BART stations as one of many tactics to ensure the safety of everyone on the platform,” a statement from BART said.

“Cell phone service was not interrupted outside BART stations. In addition, numerous BART Police officers and other BART personnel with radios were present during the planned protest, and train intercoms and white courtesy telephones remained available for customers seeking assistance or reporting suspicious activity.”

When I heard about this yesterday, I wondered if the U.S. was beginning to turn into Egypt, with authorities attempting to keep people from using social networking sites.

The digital interruption caused the protests to be cancelled, but enraged protesters. Thus, the stage was set for a confrontation today. And the confrontation came, with all four downtown SF BART stations forced to shut down.

BART temporarily closed all four downtown San Francisco stations tonight – Civic Center, Powell, Montgomery and Embarcadero – a crowd gathered to protest the transit agency’s decision to cut underground cellular phone service for three hours Thursday evening in an effort to quell a protest.

As of 6:45 p.m., the Civic Center and Montgomery stations were open. At the Powell and Embarcadero stations, passengers could exit trains but not board them.

The closures began at 5:25 p.m., when protesters were kicked out of the Civic Center station, then began marching toward the other stations. That prompted BART to close them, one by one.

The Muni Metro stations at the same locations were closed in tandem with the BART stations. Trains continued to run through the stations, only allowing passengers to exit.

In addition, the FCC has begun an investigation of BART’s actions in shutting down cell phone service. So I guess we’re not Egypt quite yet.

Remember the story about David Prosser, the Wisconsin Supreme Court judge who allegedly choked a female colleague, Anne Walsh Bradley? A special prosecutor has now been named to investigate the incident.

Sauk County District Attorney Patricia Barrett will serve as special prosecutor in the investigation of a physical altercation between two state Supreme Court justices.

Justice Ann Walsh Bradley has said Justice David Prosser put her in a “chokehold” during a June argument over a case in her chambers. Others have said Bradley came at Prosser with fists raised and he put up his hands to block her or push her back.

The incident occurred June 13, a day before the deeply divided court issued a 4-3 ruling upholding Republican Gov. Scott Walker’s legislation curtailing collective bargaining for public employees. That case started when Dane County District Attorney Ismael Ozanne brought a lawsuit claiming a legislative committee violated the state’s open meetings law in March in forwarding the legislation to the state Senate. Ozanne sought to invalidate the law, and implementing it was delayed for months while the case was pending.

The high court ultimately ruled key parts of the meetings law do not apply to lawmakers.

We’ll have to keep an eye on this story. Also in Wisconsin, today three Democrats face recall votes.

The Wisconsin recall fight ends Tuesday, and while the state Senate is no longer in play, Republicans could cut into the gains Democrats made last week. One Democratic seat in tomorrow’s election is probably safe; the race for the other one is very close.

“Here we’re fighting on our turf,” said Wisconsin Democratic Party spokesman Graeme Zielinski. “We’re cautiously optimistic.”

State Sen. Jim Holperin appears to have the slight edge in the hotly-contested 12th district as a well-liked incumbent, but increased Republican enthusiasm in this GOP-leaning territory makes it basically a toss-up.

Right now, Republicans have a 17-to-16 majority in the state Senate, thanks to the Democratic victories in last Tuesday’s recalls, when six Republicans faced challenges and two lost.

If you haven’t read it yet, please try to get through the Texas Monthly cover story on Rick Perry’s very bizarre religious beliefs. I can’t really do the story justice in a short excerpt, but just the same, I’ll give you a sample to get you started. Two pastors, Tom Schlueter of Arlington, TX and Bob Long of San Marcos, TX had come to see Perry at the Governor’s office in order to inform him of some prophecies that involved him (Perry). They explained that Texas is the “prophet state,” and will lead the U.S. toward “Godly rule.”

At the end of their meeting, Perry asked the two pastors to pray over him. As the pastors would later recount, the Lord spoke prophetically as Schlueter laid his hands on Perry, their heads bowed before a painting of the Battle of the Alamo. Schlueter “declared over [Perry] that there was a leadership role beyond Texas and that Texas had a role beyond what people understand,” Long later told his congregation.

[….]

At the end of their meeting, Perry asked the two pastors to pray over him. As the pastors would later recount, the Lord spoke prophetically as Schlueter laid his hands on Perry, their heads bowed before a painting of the Battle of the Alamo. Schlueter “declared over [Perry] that there was a leadership role beyond Texas and that Texas had a role beyond what people understand,” Long later told his congregation.

So you have to wonder: Is Rick Perry God’s man for president?

Schlueter, Long and other prayer warriors in a little-known but increasingly influential movement at the periphery of American Christianity seem to think so. The movement is called the New Apostolic Reformation. Believers fashion themselves modern-day prophets and apostles. They have taken Pentecostalism, with its emphasis on ecstatic worship and the supernatural, and given it an adrenaline shot.

The movement’s top prophets and apostles believe they have a direct line to God. Through them, they say, He communicates specific instructions and warnings. When mankind fails to heed the prophecies, the results can be catastrophic: earthquakes in Japan, terrorist attacks in New York, and economic collapse. On the other hand, they believe their God-given decrees have ended mad cow disease in Germany and produced rain in drought-stricken Texas.

Their beliefs can tend toward the bizarre. Some consider Freemasonry a “demonic stronghold” tantamount to witchcraft. The Democratic Party, one prominent member believes, is controlled by Jezebel and three lesser demons. Some prophets even claim to have seen demons at public meetings. They’ve taken biblical literalism to an extreme. In Texas, they engage in elaborate ceremonies involving branding irons, plumb lines and stakes inscribed with biblical passages driven into the earth of every Texas county.

Yikes!

Here’s another disturbing article, posted at The Institute for Southern Studies. Next low-wage haven: USA. This one is long too, but here’s just a bit of it.

For years advisers like the Boston Consulting Group got paid big bucks to tell their clients to produce in China. Now, they say, rising wages there, fueled by worker unrest, and low wages in Mississippi, Alabama, and South Carolina mean that soon it won’t be worth the hassle of locating overseas.

Wages for China’s factory workers certainly aren’t going to rise to U.S. levels soon. BCG estimates they will be 17 percent of the projected U.S. manufacturing average — $26 an hour for wages and benefits — by 2015.

But because American workers have higher productivity, and since rising fuel prices are making it even more expensive to ship goods half way around the world, costs in the two countries are converging fast.

Dan Luria, research director of the Michigan Manufacturing Technology Center, says many of the big-name consultancies, which until a year ago were advising their clients to “Asiafy their footprints,” are now telling companies to think twice.

BCG bluntly praises Mississippi’s “flexible unions/workers, minimal wage growth, and high worker productivity,” estimating that in four years, workers in China’s fast-growing Yangtze River Delta will cost only 31 percent less than Mississippi workers.

That’s before you figure in shipping, duties, and possible quality issues. Add it all up, says BCG, and “China will no longer be the default low-cost manufacturing location.”

Serfdom, here we come!

Last night I wrote about the suspicious suitcase that were left outside John Boehner’s Ohio office. A similar event happened in Beverly Hills today.

Beverly Hills police blew up an aspiring screenwriter’s laptop and script when investigating a suspicious package Thursday morning on Rodeo Drive.

The screenwriter, who was not identified, apparently left his briefcase — with the computer and script inside — unattended at a talent agency office.

Beverly Hills Police Lt. Tony Lee said police, not knowing what was inside the briefcase, detonated it as safety precaution.

Lee said the owner was distraught when he learned what happened to briefcase.

I hope his laptop wasn’t in the briefcase too.

Well, that’s all I’ve got for today. What are you reading and blogging about?


When Obama Said, “Be the Change,” Did He Mean, “Do It Yourself?”

This morning, President Obama set out on a three-day “bus tour” of five tiny towns in three Midwestern states before he returns to his comfort zone among the wealthy elites on Martha’s Vineyard for a ten-day vacation.

According to the National Journal, each of the towns on the tour is in an area that is doing very well economically.

The best part about these towns? They’re doing darn well in the face of the country’s worst economic decline since the Great Depression.

Where the country faces an unemployment rate stubbornly stuck in the 9-point range, the four counties Obama will visit top out at 7.7 percent in Henry County, Ill. The lowest, in Winnishiek County, Iowa, is a mere 5.9 percent.

Part of the reason the town mayors all said they escaped the perils of the recession is that none relied heavily on hard-hit industries like construction. Most have diverse industries, split between a small amount of manufacturing and typical Midwestern agriculture. So when Obama goes to “discuss ways to grow the economy, strengthen the middle class and accelerate hiring in communities and towns across the nation,” he’ll be talking to success stories. As cameras flood in, they won’t find closed-down plants or houses with foreclosure signs; they’ll find picturesque small farms, and, in Alpha, Ill., an 8-acre corn maze.

However, a difficult issue for the Obama is that the towns he will visit are

overwhelmingly white; so white that 2010 census figures suggest Obama will be the only black person in Atkinson, Ill., when he visits on Wednesday. That image may be neutral among, say, white, working-class voters, with whom Obama has struggled in recent elections. It won’t look as good to the African-American community, which has been particularly hard hit by the recession.

African-American unemployment hovers at 16.2 percent, the highest for any ethnic group and double the rate of unemployment for whites. While Obama spends the beginning of the week in three cities with white populations over 93 percent, the Congressional Black Caucus will be hosting job fairs, seminars and job readiness workshops in struggling cities over the August recess, hoping to connect unemployed African-Americans with employers in Detroit, Miami, Atlanta, and Los Angeles. The bus tour may not sit well with the CBC, either: Obama will not be attending any of the Congressional Black Caucus events.

That’s pretty troubling, although not surprising. You’d think if the taxpayers are covering the expenses, the President could at least talk to some people who are suffering the worst consequences of the Great Recession.

Jay Leno got off a couple of middling-funny cracks about the trip and the U.S. economy last night.

Leno: President Obama is off on his three-state bus tour this week. I believe the three states are Confusion, Delusion and Desperation.

Leno: More fallout from that Standard & Poor’s credit downgrading of the U.S.. Today England, France and Germany unfriended us on Facebook.

Leno: Treasury Secretary Tim Geithner will stay on with President Obama and not join the private sector. Thanks to his economic policies there are no private sector jobs.

Okay, I thought you could use a little comic relief. Now back to Obama’s road trip.

The head of the RNC Reince Priebus followed Obama to his first stop, Cannon Falls, MN, where he made his own failed attempt at humor, referring to the President’s trip as “Obama’s Debt-End Tour.” Frankly, I don’t get it. But Mitt Romney had a better one, the “Magical Misery Tour.”

None of the articles I’ve read say whether the President will actually ride on a bus from place to place, but I did learn that the Secret Service recently purchased two buses that will be used on the trip. The White House insists this is not a campaign swing, but an “official trip,” so we taxpayers will be picking up the tab.

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The Incredible Shrinking President

Flop sweat

President Obama has enjoyed largely positive media coverage since 2004, when he gave his first nationally televised speech at the Democratic National Convention in Boston. But since his very public humiliation at the hands of Republicans in the debt ceiling fight, the tide has suddenly turned. I think we may have finally reached a real tipping point.

Just one week ago, Dakinikat wrote a post about the Villagers finally beginning to express buyer’s remorse after Obama’s recent display of weakness and cluelessness. This week, the President has again been hammered in the national and international media, and yet he and his handlers still don’t get it, as Dakinikat’s post from late last night demonstrated.

According to the shocking New York Times article Dakinikat quoted in her post last night, Obama and his top advisers have, in a cold and calculating way, determined that advocating for policies that would create jobs would not be conducive to Mr. Obama’s reelection. Even the ideas they hesitate to push are weak and unoriginal–and as Dak pointed out, would have little to no impact on unemployment or the economy anyway. According to the NYT,

Mr. Obama plans to spend time this weekend considering his options, advisers said. The White House expects to unveil new job-creation proposals in early September.

The ailing economy, barely growing at the same pace as the population, has swept all other political issues to the sidelines. Twenty-five million Americans could not find full-time jobs last month. Millions of families cannot afford to live in their homes. And the contentious debate over raising the federal debt ceiling — which Mr. Obama achieved only after striking a compromise with Republicans that included a plan for at least $2.1 trillion in spending cuts over 10 years — has further shaken economic confidence….

So far, most signs point to a continuation of the nonconfrontational approach — better to do something than nothing — that has defined this administration. Mr. Obama and his aides are skeptical that voters will reward bold proposals if those ideas do not pass Congress. It is their judgment that moderate voters want tangible results rather than speeches.

Perhaps so, but so far we have gotten nothing but speeches–and repeated capitulations–from Mr. Obama. More:

Mr. Plouffe and Mr. Daley share the view that a focus on deficit reduction is an economic and political imperative, according to people who have spoken with them. Voters believe that paying down the debt will help the economy, and the White House agrees, although it wants to avoid cutting too much spending while the economy remains weak.

As part of this appeal to centrist voters, the president intends to continue his push for a so-called grand bargain on deficit reduction — a deal with Republicans to make even larger spending cuts, including to the social safety net, in exchange for some revenue increases — despite the strong opposition of Congressional Democrats who want to use the issue to draw contrasts with Republicans.

Have Plouffe and Daley paid any attention to the media reactions to their boss in the past week? I want to share some of my favorite recent critiques of Obama. Admittedly some of them come from right wing sources, but I detect a distinct change in the wingers’ reactions to Obama too. Instead of claiming he’s a socialist, they are mocking him for being incompetent and ineffectual.

Read the rest of this entry »


Late Night: Can We Survive Another “Change” Campaign?

Via Politico, here is a portion of the speech Rick Perry will give tomorrow in Charleston, South Carolina. As everyone who hasn’t been living under a rock knows by now, Perry will be announcing that he’s running for President of the U.S.

“The change we seek will never emanate out of Washington. It will come from the windswept prairies of middle America; the farms and factories across this great land; the hearts and minds of God-fearing Americans — who will not accept a future that is less than our past, who will not be consigned a fate of LESS freedom in exchange for MORE government. We do not have to accept our current circumstances. We will change them. We’re Americans. That’s what we do. WE roll up our sleeves, WE get to work, WE make things better.”

Perry’s announcement will also feature a film made by an atheist, conservative filmmaker Michael Wilson, who hails from the “windswept prairies” of Minnesota.

In the video, a man, woman and two tow-headed children, eyes closed, fold their hands and pray around a table as a narrator says, “No matter what they’re raised to believe, my children should know that faith is none of the government’s business.”

The video, with an Independence Day theme, also talks of financial prosperity, limited government, health care choice and the “simple beauty of free markets.”

I don’t know about you, but I’m starting to feel a little bit queasy from all this sappy, down-home, cornball talk.

Terrific Texas writer James C. Moore, author of Bush’s Brain, is convinced that Perry will be our next President.

His Saturday speech in South Carolina will make clear that he is entering the race for the White House and will spawn the ugliest and most expensive presidential race in U.S. history, and he will win. A C and D student, who hates to govern, loves to campaign, and barely has a sixth grader’s understanding of economics, will lead our nation into oblivion….

The big brains gathered east of the Hudson and Potomac Rivers believe that Mitt Romney is the candidate to beat. But they are unable to hear what Rick Perry is saying. The Christian prayer rally in Houston was a very loud proclamation to fundamentalists and Teavangelicals, which said, “I am not a Mormon.” The far right and Christian fundamentalists have an inordinate amount of influence in the GOP primary process and, regardless of messages of inclusion, very few of them will vote for a Mormon.

“We think a them Mormons as bein’ in kind of a cult,” one of the Houston rally attendees told me. “I couldn’t vote for one a them when we got a real Christian like Governor Perry runnin’.”

In other words, we’re doomed. And if Perry win, that will be the final proof that there is no god. Would a merciful god allow this man to become President?


The Audacity of No Hope

I don’t recall a time when political discourse has been so disconnected with reality. It’s like there’s some form of drug that’s been planted in the Potomac that’s created a stupor from which the media and politicians refuse to awake.  They seem to think if they create the message, we will come.  The truth is that most Americans are not quite that stupid.  It’s really a shame that the looking glass of TV political discourse does not reflect Main Street. It reflects only Wall Street, K Street, and Madison Avenue.

How more out of touch can punditry and pols become? This is the reality that US households see.

Confidence among U.S. consumers plunged in August to the lowest level since May 1980, adding to concern that weak employment gains and volatility in the stock market will prompt households to retrench.

The Thomson Reuters/University of Michigan preliminary index of consumer sentiment slumped to 54.9 from 63.7 the prior month. The gauge was projected to decline to 62, according to the median forecast in a Bloomberg News survey.

The biggest one-week slump in stocks since 2008 and the threat of default on the nation’s debt may have exacerbated consumers’ concerns as unemployment hovers above 9 percent and companies are hesitant to hire. Rising pessimism poses a risk household spending will cool further, hindering a recovery that Federal Reserve policy makers said this week was already advancing “considerably slower” than projected.

“The mood is very depressed,” said Chris Christopher, an economist at IHS Global Insight Inc. in Lexington, Massachusetts. “Consumers are very fatigued and very uncertain. In the short term, people are going to pull back on spending.”

Estimates of 69 economists for the confidence measure ranged from 59 to 66.5, according to the Bloomberg survey. The index averaged 89 in the five years leading up to the recession that began in December 2007.

Here’s one example of the reality disconnect via Michelle Bachmann who has been cheering on the idea of a US default and had the temerity to suggest last night in the Ames Alternate Reality Debates that the S&P downgrade occurred because the debt ceiling was raised.  The S&P downgrade stemmed from her brazen example–as well as those of her compradres–of a complete disconnect from economic reality. How much time was spent on discarded notions like gold standards and politically controlled central banks?  This is the stuff that only dictators in banana republic adopt!

A Standard & Poor’s director said for the first time Thursday that one reason the United States lost its triple-A credit rating was that several lawmakers expressed skepticism about the serious consequences of a credit default — a position put forth by some Republicans.

Without specifically mentioning Republicans, S&P senior director Joydeep Mukherji said the stability and effectiveness of American political institutions were undermined by the fact that “people in the political arena were even talking about a potential default,” Mukherji said.

“That a country even has such voices, albeit a minority, is something notable,” he added. “This kind of rhetoric is not common amongst AAA sovereigns.”

I mentioned in this morning’s post the brazen political rationale behind the President’s persistent message that it’s the deficit driving the bad economy.  This too is a message that’s not based in reality. This Reich quote bears repeating here.

So rather than fight for a bold jobs plan, the White House has apparently decided it’s politically wiser to continue fighting about the deficit. The idea is to keep the public focused on the deficit drama – to convince them their current economic woes have something to do with it, decry Washington’s paralysis over fixing it, and then claim victory over whatever outcome emerges from the process recently negotiated to fix it. They hope all this will distract the public’s attention from the President’s failure to do anything about continuing high unemployment and economic anemia

Krugman–who shall now be known as the depressed one--made similar claims today in his NYT op-ed.  He tells us that we should be angry.  I think he needs to get out of the confines of his New York condo or his Princeton office, because we are angry out here in the great fly over.  I’d say if he went to the right parts of New York City or New Jersey, he’d likely find the anger there too.

But there’s another emotion you should feel: anger. For what we’re seeing now is what happens when influential people exploit a crisis rather than try to solve it.

For more than a year and a half — ever since President Obama chose to make deficits, not jobs, the central focus of the 2010 State of the Union address — we’ve had a public conversation that has been dominated by budget concerns, while almost ignoring unemployment. The supposedly urgent need to reduce deficits has so dominated the discourse that on Monday, in the midst of a market panic, Mr. Obama devoted most of his remarks to the deficit rather than to the clear and present danger of renewed recession.

What made this so bizarre was the fact that markets were signaling, as clearly as anyone could ask, that unemployment rather than deficits is our biggest problem. Bear in mind that deficit hawks have been warning for years that interest rates on U.S. government debt would soar any day now; the threat from the bond market was supposed to be the reason that we must slash the deficit now now now. But that threat keeps not materializing. And, this week, on the heels of a downgrade that was supposed to scare bond investors, those interest rates actually plunged to record lows.

What the market was saying — almost shouting — was, “We’re not worried about the deficit! We’re worried about the weak economy!” For a weak economy means both low interest rates and a lack of business opportunities, which, in turn, means that government bonds become an attractive investment even at very low yields. If the downgrade of U.S. debt had any effect at all, it was to reinforce fears of austerity policies that will make the economy even weaker.

So how did Washington discourse come to be dominated by the wrong issue?

When political gamesmanship and legal outcomes funded by corporations and not votes by people become the central goal of policy, a democracy not only loses its authenticity, it ceases to exist.  People have been voting for gridlock and throwing the bums out only to create a gridlock that is bringing down the economy and bums so virulent that we can no longer stand for either.  People like Allen West, Michelle Bachmann, and Rick Santorum shouldn’t even be given keys to a car, let alone the country.  Leaders that would rather distract people from reality than make actual policy decisions–like Obama–need to be called out for their cynical political ploys; not re-elected. How much more of this can our economy and democracy take before we completely collapse into something worse than a banana republic?

Peter Daou has written an excellent analysis that talks about how this toxic environment has brought the country to its knees.  He has a list of exactly how far down we’ve gone on the list of countries for many things.  Today’s new number is 23.  We used to rank 6th in infrastructure, we have now fallen to number 23.  Sweden tops the list of countries for global technology and net work readiness.  The US has moved to 5th place behind Sweden, Singapore, Finland and  Switzerland.  This is what we’re supposed to be good at?  Right? Information Technology?  The only thing we seem to excel at any more is perpetual war.

The basic question is then, what will it take to get these people to listen?  Well, in the case of Michelle Bachmann and reality-deniers, there’s no hope there.  They cling to religious myth and free market fairy tales over science, economics, and reality.  In the case of those who cynically change the political discourse to “distract the public’s attention”, I’m not sure. What do you do with the power hungry who are more driven by campaign contributions and donor concerns, than votes and people?  This toxic political environment is bringing toxic results.  In other parts of the world, there are protestors risking their lives for real change.  People are being gunned down in Syria as we speak.  Rioters in England–fed up with no future and no jobs–are burning things to the ground.

Daou points to Bob Hebert’s farewell column for perspective.  It’s worth reviewing.

The U.S. has not just misplaced its priorities. When the most powerful country ever to inhabit the earth finds it so easy to plunge into the horror of warfare but almost impossible to find adequate work for its people or to properly educate its young, it has lost its way entirely.

Nearly 14 million Americans are jobless and the outlook for many of them is grim. Since there is just one job available for every five individuals looking for work, four of the five are out of luck. Instead of a land of opportunity, the U.S. is increasingly becoming a place of limited expectations. A college professor in Washington told me this week that graduates from his program were finding jobs, but they were not making very much money, certainly not enough to think about raising a family.

There is plenty of economic activity in the U.S., and plenty of wealth. But like greedy children, the folks at the top are seizing virtually all the marbles. Income and wealth inequality in the U.S. have reached stages that would make the third world blush. As the Economic Policy Institute has reported, the richest 10 percent of Americans received an unconscionable 100 percent of the average income growth in the years 2000 to 2007, the most recent extended period of economic expansion.

Americans behave as if this is somehow normal or acceptable. It shouldn’t be, and didn’t used to be. Through much of the post-World War II era, income distribution was far more equitable, with the top 10 percent of families accounting for just a third of average income growth, and the bottom 90 percent receiving two-thirds. That seems like ancient history now.

The current maldistribution of wealth is also scandalous. In 2009, the richest 5 percent claimed 63.5 percent of the nation’s wealth. The overwhelming majority, the bottom 80 percent, collectively held just 12.8 percent.

This inequality, in which an enormous segment of the population struggles while the fortunate few ride the gravy train, is a world-class recipe for social unrest. Downward mobility is an ever-shortening fuse leading to profound consequences.

What profound consequences await a country where the leaders find these extraordinary levels of income inequality, infrastructure ruin, and joblessness an acceptable status quo?  Will parts of the US eventually resemble West London or Damascus where disenfranchised, jobless, and hopeless people  resort to measures beyond desperation?  These events are truly the results of the audacity of no hope. It’s easier for the media blame  the dogs fighting for scraps under the table than to look at the table top and to call out the masters that have stacked the decks in their favor so that the meat never hits the floor. Can simply living in a land of economic fairy tales ala Bachmann and trust fund babies like Romney prevent the US from seeing similar unrest?  Corporations are people too?  Really?  Can giving multiple speeches distract the jobless from their plight or blaming social security recipients and the long term unemployed keep the electorate in a stupor of false hope? I’d say that one check of polls and the consumer sentiment index provides a resounding no answer.

I have never seen a period of time when the issues are so clear, the answers are so obvious, and the political and punditry class appear so clueless. Something better change fast before the growing restless in our undeveloping nation turns into something more than disenchanted polling numbers and falling indexes. How much more disconnect will this country’s citizens take?