From a post on Souciant:
- Charlie Bertsch.
Charlie Bertsch writes:
If this car were merely festooned with the “Commander in Thief” sticker, then, it wouldn’t be worthy of commentary. In states like Arizona, so many cars bear this sort of message that it no longer makes much of an impression. What sets this vehicle apart is the dialogue it creates between that anti-Obama sentiment and the sticker featuring a smiling Ronald Reagan that reads “Avenge me.” The implication is that the President has managed to undo the so-called “Reagan Revolution”, which, like the one Margaret Thatcher presided over in Great Britain, is credited with ushering in an era of leaner and, yes, meaner national government.
It must not be forgotten that it was the left—Labor (James Callaghan) in the UK and Democrats (Jimmy Carter) in the US—who, facing stagflation (inflation with no job growth), first implemented neoliberal policies. Indeed, it was Carter who picked Paul Volcker to run the Federal Reserve, and it was Volcker who, with the Volcker Shock (a sharp and painful increase interest rates), made it more than clear that the government's agenda was no longer full employment (Keynesian demand management economics) but low inflation (hardcore Chicago School). To this day, no leader in the US, and the UK, has, despite 2008 and the collapse of the market, broken with the neoliberal program, which was only accelerated by Reagan and Thatcher. WSJ:
Wealthy Americans took a hit when the global financial crisis sent the economy into a nosedive, yet new research shows they alone — specifically, the richest 7% — benefited as households rebuilt their wealth in the first two years of the recovery. From 2009 to 2011, the average wealth of America’s richest 7% — the 8 million households with a net worth north of about $800,000 — rose nearly 30% to $3.2 million from $2.5 million, according to a Pew Research Center report that analyzed recent Census data. By contrast, the average wealth of America’s remaining 93%, some 111 million households, actually dropped by 4% to $134,000 from $140,000. Wealth is the value of what a household owns minus what it owes.