Our Stagnant Pie

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Doug Mataconis takes a look at today’s awful GDP figures and concludes that we’re headed for a long stretch of low growth and high unemployment. He’s not happy about what this means for our political future:

There’s a reason that politics in the 1950s gave us men like Eisenhower and Stevenson, and there’s a reason that politics in 2010s are giving us Sarah Palin, Glenn Beck, Alan Grayson, and the 24/7/365 cable “news” culture, and I would submit that much of it is related to the fact that people are beginning to believe that they are going to have to fight over pieces of a pie that isn’t going to grow nearly fast enough to sustain the standard of living we’ve become used to.

On my good days I think this is simply the normal pessimism that takes over during a recession. (And yes, we’re still in a recession in all but the most technical definition of the term.) On the other hand, household deleveraging still has a long ways to go, house prices probably still have a ways to drop, income stagnation is going to remain a fact of life as long as unemployment is high, and our political system is dominated by people who plainly have no intention of doing anything about any of this. So on my bad days I agree with Doug. There’s no reason things have to be this way, but we sure seem to have lost the will to change them much.

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

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