Monday, September 2, 2013
Today is Labor Day in the United States. This day used to be celebrated with parades and speeches by public officials in cities large and small throughout the country. I doubt there will be many parades or speeches honoring the labor movement today because Republicans despise it and the Democratic Party, which was its stalwart defender for many years has ceased to support it.
Instead, the Democratic Party aggressively supports free market capitalism, an economic policy that has encouraged corporate America to relocate factories foreign countries and outsource millions of jobs. Job flight has resulted in an effective rate of unemployment around 15%.
Persistent unemployment and low demand for products and services is a major cause of our moribund economy because people do not have money to spend. So long as demand remains low, businesses have little incentive to increase their inventories and hire employees.
Labor created a prosperous middle class and no American should forget that. Today the middle class is disappearing and that is one of the greatest tragedies of these times.
In other news, Diana Nyad is close to completing her solitary open ocean swim from Cuba to Florida. She is the first human to have accomplished that task. Remarkable accomplishment.
Word from the capitol is that Congress is going to take approximately one week to decide whether to support or oppose President Obama’s idea to bomb Syria.