America, the Land of Limited Opportunity: We Must Open Our Eyes to the Truth (RGE)

[swag]

http://www.roubini.com/us-monitor/258645/america__the_land_of_limited_opportunity__we_must_open_our_eyes_to_the_truth?utm_source=twitterfeed&utm_medium=twitter&utm_campaign=Feed%3A+UsEconomonitor+%28US+EconoMonitor%29

More first-rate research from the OECD: “Economic Policy Reforms: Going for Growth 2010“. Of special interest to Americans is chapter 5: “A Family Affair: Intergenerational Social Mobility across OECD Countries“. Like the massive body of research preceeding it, this contracts one of the key myths about America. A nation that steers by myth, not reality, will eventually crash on the rocks.

The authors carefully avoid pointing fingers or mocking us. They let the graphics tell the story of increasing inequality of income and declining social mobility — both washing away the foundations of the American Republic. Worry not about America becoming like Zimbabwe. Worry about becoming like Argentina.



Education is a ladder to social mobility in America. That’s getting pulled up, even faster now with increases in State tuiton. This graph shows the result:

[truedelphi]

1. We are heading for Banana Republic status.

The wage inequality shows how the Powers that Be legally shaft the middle-incomed.

And the fact is, we do resemble a third world nation. Inept voting methods, so our ballots are not reliable. Increasingly hand picked Corporate servants running for office, who pledge the people one set of actions, but only deliver on pledges made to the Upper Elite. SO while our hopes are dashed, the office holders are quite pleased with the deals they get from the big campaign donors and/or industries that offer up the revolving door "job insurance" for when they leave public office.

[endless october]

2. stop outsourcing and

break up monopolies.

that will do a lot to solve the problem.