One of the best and most disturbing things I’ve read in quite a while …

Bill Moyers’ speech at Boston University. The theme is the growing plutocracy (rule by a rich elite, e.g. “not democracy” or “fake democracy”). He concludes …

But let’s be clear: Even with most Americans on our side, the odds are long. We learned long ago that power and privilege never give up anything without a struggle. Money fights hard, and it fights dirty. Think Rove. The Chamber. The Kochs. We may lose. It all may be impossible. But it’s OK if it’s impossible. Hear the former farmworker and labor organizer Baldema Valesquez on this. The members of his Farm Labor Organizing Committee are a long way from the world of K Street lobbyists. But they took on the Campbell Soup Company – and won. They took on North Carolina growers – and won, using transnational organizing tacts that helped win Valasquez a “genius” award from the MacArthur Foundation. And now they’re taking on no less than R. J. Reynolds Tobacco and one of its principle financial sponsors, JPMorgan-Chase. Some people question the wisdom of taking on such powerful interests, but here’s what Valasquez says: “It’s OK if it’s impossible; it’s OK! Now I’m going to speak to you as organizers. Listen carefully. The object is not to win. That’s not the objective. The object is to do the right and good thing. If you decide not to do anything, because it’s too hard or too impossible, then nothing will be done, and when you’re on your death bed, you’re gonna say, “I wish I had done something. But if you go and do the right thing NOW, and you do it long enough “good things will happen—something’s gonna happen.”

Also quotable …

. I must invoke some statistics here, knowing that statistics can glaze the eyes; but if indeed it’s the mark of a truly educated person to be deeply moved by statistics, as I once read, surely this truly educated audience will be moved by the recent analysis of tax data by the economists Thomas Piketty and Emmanuel Saez. They found that from 1950 through 1980, the share of all income in America going to everyone but the rich increased from 64 percent to 65 percent. Because the nation’s economy was growing handsomely, the average income for 9 out of l0 Americans was growing, too – from $17,719 to $30,941. That’s a 75 percent increase in income in constant 2008 dollars.
But then it stopped. Since 1980 the economy has also continued to grow handsomely, but only a fraction at the top have benefitted. The line flattens for the bottom 90% of Americans. Average income went from that $30,941 in 1980 to $31,244 in 2008. Think about that: the average income of Americans increased just $303 dollars in 28 years.
That’s wage repression.
Another story in the Times caught my eye a few weeks the one about Connie Brasel and Natalie Ford. The headline read: “Industries Find Surging Profits in Deeper Cuts.” Nelson Schwartz reported that despite falling motorcycle sales, Harley-Davidson profits are soaring – with a second quarter profit of $71 million, more than triple what it earned the previous year. Yet Harley-Davidson has announced plans to cut fourteen hundred to sixteen hundred more jobs by the end of next year; this on top of the 2000 job cut last year.
The story note: “This seeming contradiction – falling sales and rising profits – is one reason the mood on Wall Street is so much more buoyant than in households, where pessimism runs deep and unemployment shows few signs of easing.”
There you see the two Americas. A buoyant Wall Street; a doleful Main Street.