What American Dream
Is the American dream a figment of ones own imagination or is it a reality lying in wait far off in the distance? A pondering question, indeed. Although my farther was able to partake in the American Dream. But, that was over 50 years ago. A sober harsh reality has come into play in the lives and livelihoods of millions of Americas today. Who would have thought that, like the parents of my generation, the quintessential American Dream they had would evaporate ever so swiftly. It was widely known for years, especially back then, that anybody, regardless of background, could achieve financial stability, build a secure life for their families, and in essence achieve that American Dream.
The American Dream had become a huge part of America's self-identity. For over one hundred years, it has been enshrined in our literature, in our history and even in our politics. It is, in so many ways, the most important aspect of life in this country. So what has happened in the last 50 years that has made the reality of achieving the American Dream so elusive for so many?
To answer that we have to look at the policies that have shaped the American culture during these past 50 years. In many respects just like the jobs that are still being out sourced to other countries so to has the American Dream. This is so evident, especially since more than 26 other countries have higher medium wealth than the good old USA. In the recent report of Global Wealth Data Analysis that was just recently published the rankings of medium wealth in countries around the world more and more countries are pushing the US further down that ladder of economic opportunities. This analysis is where it basically looks at the sum of all assets, subtracts all liabilities, and establishes that the amount of money of households in the middle of the wealth distribution has. The United States can't even crack the top 25 of other countries around the globe. Counties with strong safety nets, like Canada, Sweden and even Germany continue to spur a vitality of their middle class, where the US continues to almost extinguish it's own middle class.
This report has to be a wake up call to our most benevolent leaders of state especially those entrenched Republicans in Washington whole are still in a state of denial about not only global warming but how serious the financial situations of millions of Americans are now putting America's future in jeopardy. It should not come as no real surprise to anybody who is aware of current events today. To fully understand the inequality that has transpired over the course of decades of political posturing in which we have had financial deregulation continue to concentrate so much wealth at the top 1%. It is like a pyramid where the pinnacle of wealth is all centered at the top. The bottom of this pyramid has had years of wage stagnation, millions of middle class wage jobs vanish, an ever increasing ebb of inflation, and a Republican mindset that has withered American's own safety net, all have made millions of Americans fall down that ladder of economic prosperity. The United States has not seen so many people thrust into that vicious cycle of poverty than in any other time since the Great Depression.
To add salt to America's wounded economy, this income inequality, the wealth gap, that has only gotten wider and deeper the top 1% own over 90% of the nations wealth and that includes stocks, bonds, mutual funds, savings and all the other financial tools that only enable the rich to get richer. The other bottom 10% are left wallowing in a state of perpetual economic and financial depravation. To sum it up, the middle class American Dream is alive and well only if you happen to be in the top 1%. A very sad commentary for the future of this once great nation.