From Tom Dispatch: http://www.tomdispatch.com/post/175480/tomgram%3A_barbara_ehrenreich_and_john_ehrenreich%2C_the_fall_of_the_%22liberal_elite%22/
Posted by Barbara Ehrenreich and John Ehrenreich
December 15, 2011
“Class happens when some men, as a result of common experiences (inherited or shared), feel and articulate the identity of their interests as between themselves, and as against other men whose interests are different from (and usually opposed to) theirs.”
— E.P. Thompson, The Making of the English Working Class
The “other men” (and of course women) in the current American class alignment are those in the top 1% of the wealth distribution — the bankers, hedge-fund managers, and CEOs targeted by the Occupy Wall Street movement. They have been around for a long time in one form or another, but they only began to emerge as a distinct and visible group, informally called the “super-rich,” in recent years.
Extravagant levels of consumption helped draw attention to them: private jets, multiple 50,000 square-foot mansions, $25,000 chocolate desserts embellished with gold dust. But as long as the middle class could still muster the credit for college tuition and occasional home improvements, it seemed churlish to complain. Then came the financial crash of 2007-2008, followed by the Great Recession, and the 1% to whom we had entrusted our pensions, our economy, and our political system stood revealed as a band of feckless, greedy narcissists, and possibly sociopaths.
Still, until a few months ago, the 99% was hardly a group capable of (as Thompson says) articulating “the identity of their interests.” It contained, and still contains, most “ordinary” rich people, along with middle-class professionals, factory workers, truck drivers, and miners, as well as the much poorer people who clean the houses, manicure the fingernails, and maintain the lawns of the affluent.
It was divided not only by these class differences, but most visibly by race and ethnicity — a division that has actually deepened since 2008. African-Americans and Latinos of all income levels disproportionately lost their homes to foreclosure in 2007 and 2008, and then disproportionately lost their jobs in the wave of layoffs that followed. On the eve of the Occupy movement, the black middle class had been devastated. In fact, the only political movements to have come out of the 99% before Occupy emerged were the Tea Party movement and, on the other side of the political spectrum, the resistance to restrictions on collective bargaining in Wisconsin.
Continue reading at: http://www.tomdispatch.com/post/175480/tomgram%3A_barbara_ehrenreich_and_john_ehrenreich%2C_the_fall_of_the_%22liberal_elite%22/
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