Wednesday, October 17, 2012

The U.S. Presidential Election as a Choice of the President of Pop ?

Frank Bruni at the NYTimes has a thought-provoking take
on the Presidential Election in America
Pop Goes the President,
suggesting that:
"This presidential election will go down as the one in which the pop-culture pander reached its ludicrous apotheosis...."
[link added by LawPundit]
Bruni closes with the comment:
"I'm not sure if that says more about them [the candidates]
or about us."
and one opinion comment to Bruni's posting writes:
"Sadly, Frank, it says more about "us", the candidates just play to the "culture" of the moment to capture attention....

I just heard a Dick Cavett interview when he says something like we are a nation that is tending toward mediocrity. I think that's optimistic, as I think we are much further down the road to being another failed empire... and so it goes..."
A failed empire?

Those words seem a bit too harsh for us at the moment, but they are a warning for a nation torn by excessive polarization of interests, boundless greed and the absence of core values that once made the country great but today make the United States look more like the countries the immigrants once fled. United the nation may yet stand, but deeply divided it may surely fall.

Income Inequality Increasingly Seen as THE ECONOMIC PROBLEM in America

Annie Lowrey at the New York Times reports that income inequality in the USA has reached its greatest level since the Great Depression and is increasingly seen as THE ECONOMIC PROBLEM in America.

See at the New York Times: Income Inequality May Take Toll on Growth.

We have been posting about this for ages....

See e.g. and the additional links in these postings:

Who Owes Whom? Rampant Inequality in the American Economy and Unemployment, Corporate Profits, Wages, Income, Wealth, Executive Compensation, Average Hourly Earnings, Social Mobility

USA Income Inequality: No Longer, "Of the People, By the People, For the People" But Rather "Of the 1%, by the 1%, for the 1%"

Bankruptcy of Battery Maker A123 Systems Inc Raises Issue of Excessive Executive Salaries

The New York Times carries the Reuters story about the bankruptcy of green energy company A123 Systems, Inc. at
Battery Maker A123 Systems Files for Bankruptcy.

That story gives us an inkling of where some of "the money" (in the large general sense) comes from -- i.e. from government subsidies.

Now take a look at
key executive compensation at A123 Systems, Inc. ("AONE")

to get an inkling of where too much of the money in the USA goes,
i.e. into executive compensation totally unrelated to the health of a company,

and this is the same also in Europe and the world generally,
but is a problem especially pronounced in the USA.

Over-inflated executive compensation is the rule, not the exception.

That is one of the major flaws in modern economic systems everywhere - inequality of income. See our next posting.

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