Dear Black America, Don't Let Them Fool You: We Cannot Vote Ourselves Out Of This Problem

By Christian Gines

Voting is not the way to solve anything for black people, oppressed people. First, reform does not work in a white supremacist capitalist patriarchy. Every issue we hear talked about on the news, "this [issue] disproportionately affects people of color, women, the LGBTQ community, etc." This statement shouldn't be that mind-boggling. This system isn't made to benefit us in the first place, so why would a change in that system work in the first place. When a car breaks down, you put in new parts. If you continue to put new parts in a car, it will eventually break down. That is all these reformist polices are doing. If you're not abolishing the system, then you're just allowing the car to keep on going with new parts that will enable the car to run on fumes until it breaks down. Calls to abolish and defund the police are already being coopted into reformist policies to appease the ruling class. It shouldn't be that radical to call for an abolishment of a system that kills over 1,000 people a year despite being "reformed."

Second, voting is to subdue the masses to choosing between two evils and allowing them to decide what's acceptable and what's not acceptable in the realm of discussion. As Noam Chomsky eloquently put it, "The smart way to keep people passive and obedient is to strictly limit the spectrum of acceptable opinion, but allow very lively debate within that spectrum — even encourage the more critical and dissident views. That gives people the sense that they have free thought, but the presuppositions of the system are being reinforced by the limits put on the range of the debate." As a people, we have been taught and sold that voting is the only way to make a change in society. From talking to my parents, family members, and community members doing the peak of the 2020 Democratic primary, and now they are sold on voting as our only means of creating change. Saying we have to make the change within the system. Their stance on voting has been fed to them for so long that they will fight you to the grave on this, but it is so ahistorical that we need to disprove it today. Our ancestors didn't have the right to vote, and they achieved the abolition of slavery, end of segregation, right to citizenship, right to work, right to own property, the Civil Rights Act of 1964, and the removal of Jim Crow Legislation, the right to vote.

When you look at any change that has happened within the The US, the change has come from outside the system, not within. As James Connolly Said, "Governments in capitalist society are but committees of the rich to manage the affairs of the capitalist class." When we vote, we are voting for whoever the ruling class has told us to vote for. Whether through endless spending with SuperPAC's or "black faces in high places," telling us who to vote for, we have no say in Democracy. As Malcolm X said, "Democracy is Hypocrisy." Voting is the way that the empire can keep us under control and keep themselves in power. The Black Panther Party couldn't vote, yet they had a Free Food, Free Housing, Free Medical Care, Free Busing, Free Clothes, and 50 other programs that we hear white liberals advocate for today. They were doing that within their community, and that's why Herbert Hoover fought to get rid of them. The BPP's initial government surveillance started because of their Free Breakfast Program. The settlers have taught us that's their way of governance is the best way, and we have fallen for that. We believe that we, the masses, and oppressed people can vote and change the system that was set up with the thought that either we weren't citizens, we weren't humans, or that we were too dumb, so there should be a safeguard.

The ruling class had a chance to maybe postpone a revolution in our lifetime with the compromise candidacy of Bernie Sanders. Sanders, running on a political revolution, had a tremendous amount of support from young people in general, but especially young black people. With his calls for Medicare for All, a Green New Deal, and other social democratic policies, they had a chance to satisfy the short term wants of most Americans. They had an opportunity to assuage the masses for a while, as they did with FDR's candidacy. The ruling class, though, was so caught up with their money and profits that they failed to see that Bernie Sanders was offering them. They were so scared that he would tax them that they colluded against him as they did in 2016 to ensure that their establishment candidate won. Now we are stuck choosing between the lesser of two evils again. We have one person who has been accused of sexual harassment and assault, an architect of mass incarceration (who refuses to apologize for it), and full of blunders. On the other hand, we have Donald Trump. I remember when people were saying that they will vote for Joe Biden over Trump because at least we can push him left. Now, this isn't an essay on whether you should vote or not, but I will say that we have had weeks of protest worldwide, and Joe Biden has not even inched to the left. He doesn't support abolishing or defunding the police department. Even Bernie Sanders said that he doesn't support defunding the police and says that they need more funding. This was the candidate who claimed that he was for the people, and he doesn't even support our demands. The Democratic Party has sold out black people for so long that it shouldn't be controversial not to support them, but we continuously have for decades. 

The façade that we can vote our problems away is one that we cannot fall victim to today. We have tried that time and time again, and what happens? The politicians run on something, go in there and don't do anything for our community. Black and white politicians alike have sold us out time and time again. To get real change, we must stay in the streets. As you see in Minneapolis, with protesting, burning, rioting, and looting, the change will come. If you support non-violent or violent protest is your prerogative. If you support the liberation of the black community and think that we must vote to get Trump out of office, that is your choice. But one thing is for sure. We cannot vote ourselves out of this situation because if we think that is the way to solve our problems, we will end up in the same place we started.

Christian Gines is a published student writer, poet, and activist whose writings discuss race within the black community and its effect on black youth.

Conspiracy Theory vs. Socialist Logic

Originally published by Socialist Standard.

Conspiracy-theory, or conspiracism, has it that much of the world today is to be understood in terms of ‘conspiracy’ be it by scientists, extra-terrestrials, masons, or whoever.

Currently gaining credence among many is the idea that all accepted science is a conspiracy, for relativity theory and quantum physics are specialised subjects. Einstein is difficult to understand and the majority of us are not astrophysicists, or other types of scientist, but that is no reason to dismiss these theories.

Many in society seek solace in pseudoscience, and therefore in conspiracism, whereby they can feel in control over what they cannot understand. Conspiracism absolves you from having to undertake painstaking research where you are not willing to trust those who actually have expertise in a difficult subject. Conspiracism attracts people from an entire spectrum, eager to feel that they belong to something: right or left in their leanings, dependent on what they were before becoming conspiracist. The phenomenon appears to attract ‘truthers’ – those who know the ‘truth’ despite the facts. Some are avowedly Christian, others not. Some dally with other rehashed mythologies, interpreted to fit in with their modern conspiracism. Many are, in fact, as members of the working class, confused and vulnerable, and want to feel significant; which they feel modern scientific thinking cannot help them with.

It is tempting to draw some similarity in all of this to the declining years of the Roman Empire, so brilliantly shown in the film Agora, about the last days of the great Library of Alexandria. Science and learning were then the property of a privileged few, and this is largely how they are seen today by many attracted to conspiracism and ‘truthism’. Today we are bombarded, flooded, with ideas and theories via the internet, whilst actual reading has declined.  Some conspiracy theorists tend to deride books which contradict them, dismissing them as the propaganda of those ‘in on’ the ‘great conspiracy.’ Book-learning becomes associated with closeted academia and so is deemed irrelevant. So refutation of a conspiracist’s ideology from facts outlined in books is futile.

With many people feeling disenfranchised from intellectual life, as they are in fact disenfranchised economically (being born in the wage-slave class), old and new-style forms of fanaticism win converts. Conspiracism is an obstacle to socialist awareness. Vital to the spread of socialist awareness is the materialist conception of history and recognition of human scientific progress.

Marx knew this when he wrote welcoming and applauding the publication of Darwin’s The Origin of Species, recognising science as the necessary ally of socialism. Above all, the scientific study of history is vital and paramount, as history is an evolutionary process.

Capitalism is not a conspiracy. It is a system that evolved through social and economic processes, just as socialism will have done. Capitalism, and class societies as a whole, do by definition encourage ‘conspiratorial’ behaviour, but they are historically, not ‘conspiratorially’, produced.

Everything grows from an antecedent and does not appear out of the blue.

Conspiracy theory backs up the bourgeois myth of an evil human nature (‘Original Sin’ rehashed for the modern age). To paraphrase Karl Marx, the morality of a given age is the morality of its ruling class. The cut-throat values of the capitalist class have us believing in a human cut-throat nature in which everyone is a potential conspirator, a potential thief, a potential brigand. Thus an ideology of brigandage, sustained by the viciously competitive nature of capitalism, leads people to see their fellow beings as either real or potential brigands.

Conspiracism reduces everything to a school playground view wherein everything is viewed as the machinations of some cartoon-like gang independent of history. Those who attempt to spread conspiracy theory do a disservice to the cause of achieving a better world, by further confusing already confused workers and by giving ammunition to those who label socialists as cranks and claim capitalism to be the end of history.

We urge our fellow workers to face reality, embrace knowledge, and recognise for what it is the ridiculous zealotry known as conspiracy theory. Emancipation from the system of wage-slavery, poverty, prices and profits requires a grasp of social history and of social and natural realities.

From Cruze to Cruise: False Consciousness and Dialectical Conflict in the GM Paradigm Shift

By Werner Lange

On Monday, November 26, General Motors publicly announced its decision to shut down all production at five major plants in 2019, including the sprawling Lordstown Assembly Plant in Ohio's Mahoning Valley, home of the Cruze model, and shift major investment to mass production of all-electric autonomous vehicles through its Cruise subsidiary, headquartered in California's Silicon Valley. This grand paradigm shift from traditional cars to autonomous ones marks a major change in GM operations, ones which will leave abandoned communities economically devastated and thousands of terminated workers financially paralyzed, while simultaneously paving a path toward zero-emission cars. Yet the resultant communal and private havoc imposed upon victimized communities will likely not lead, as it should, to a workers' revolt and political uprising; at least not in northeast Ohio. That disappointing but realistic projection is based upon the potency of widespread false consciousness among the masses, the seductive temptation of subscribing to false hopes, and the emergence of a new dialectical conflict uniting labor and management in an existential struggle against climate change.

November 26 marked the second Black Monday brutally imposed upon the Mahoning Valley located in the heart of de-industrialized America. The first one occurred in September 1977 when steel corporations precipitously closed several major plants in Youngstown, a catastrophic economic blow from which this once vibrant, but now largely impoverished, city has never substantially recovered. A similar fate of an accelerated decline now awaits Lordstown and surrounding communities like Newton Falls, my hometown for the past 30 years. During that time, despite sporadic sparks to the contrary, this part of America's broad Rust Belt has gotten collectively more rusted, but nevertheless reliably remained a Democratic stronghold - until 2016. The mass frustration of hard-pressed communities and working families stuck seemingly forever in economic stagnancy spilled over into a passionate desire for qualitative change during the last presidential election. Only one major-party candidate appeared in substance and style to offer qualitative change, whereas the other candidate, unlike her progressive opponent in the primary, painfully projected business as usual. After voting overwhelming by 23 points for Barack Obama in 2012, voters in Trumbull County, home to the Lordstown plant, gave a 6-point victory margin to Donald Trump in 2016. Revealingly, the only other Republican presidential candidate who won Trumbull County since 1960 was Richard Nixon in 1972. Masters of deceit have been able to occasionally tap into pervasive false consciousness within this largely working-class community, but never with the ferocity of the most recent presidential election. This, of course, comes as no surprise to progressive social thinkers familiar with the roots and consequences of false consciousness among labor and working-class communities.

The ability to successfully colonize the mind of the oppressed with the carefully construed values and deceitfully manipulated images of the oppressor characterizes all tyrannies to some extent. The cultural substrate for this common success of mass deception is based upon the objective reality that the ruling ideas of any stable society are the ideas of the rulers. Those who dominate a society economically also do so ideologically. It is their agents of socialization which substantively shape the mindset of the new generations, and it is their institutions which seek to sustain that self-defeating mindset throughout adulthood. Rebels are demonized, deviants dismissed, conformists applauded, and out-groups scapegoated. Fascists, in particular, are adept at creating and manipulating false consciousness and suppressing class consciousness. The very name of Hitler's fascist party, NSDAP (National Socialist German Workers Party), for example, would have a bitterly frustrated and justifiably angry German citizen think the party promotes socialism and embraces the interests of the working class. Instead it routinely executed socialists (along with communists and many others), turned masses of workers into industrial slaves, and channeled mass frustration into displaced aggression against the vulnerable and marginalized Other. This repressive pattern is largely repeated in Trump's America with his regime's unbridled attacks upon immigrants and journalists, constant invocation of big lies, demonization of liberals, and conversion of the Republican Party, in substance, into what Noam Chomsky recently called "the most dangerous organization in human history." None of this would have been possible if class consciousness (instead of false consciousness) guided the behavior of America's working-class masses. In fact, the antithesis of the Trump regime would now be in power if the working class-in-itself would transform into a working class-for-itself, a work still in progress.

If false consciousness propelled the rise of the Trump regime and aided the fall of GM Lordstown, then false hope is designed to keep victimized workers and communities passive. The emergent false hope is not identical to the false promises made by Trump in his 2017 visit here, claiming the lost jobs were all coming back and "we're going to fill those factories back up." Everyone, except the hopelessly deluded, now knows that to be an outright lie. More pernicious is the emergent, projected hope for a new fossil-fueled product to be allocated to the soon-to-be-idled GM Lordstown plant sometime in late 2019. "Future products will be allocated to fewer plants next year," stated GM's CEO in officially designating the five targeted GM plants as "unallocated," but leaving the door theoretically open for one of the coming "five vehicle architectures" to resurrect perhaps one of these comatose plants back to full life, thus setting up a bitter competition in 2019 among the impacted communities to win this ephemeral prize. In anticipation of this divisive competition, the regional Chamber of Commerce launched its "Drive It Home" campaign, which, according to its website, is a "coalition of local businesses, community, religious leaders, consumers, and workers, as well as their families, coming together to urge GM to support growing their investment at the Lordstown Complex"… and to "create a positive environment and build good relations with local management." This is in stark contrast to the "labor-management wars of the late 60s and early 70s," as one current local UAW leader castigated the strikes, revolts, and progressive activism at Lordstown two generations ago.

Yet that is precisely the type of protest and activism now needed to avoid community devastation. After all, the dialectical conflict inherent to capitalist management-labor relations has lost none of its validity, despite loss of manifested vitality. Maximizing private profit inevitably translates into minimizing community needs; and expanding labor-created surplus value invariably comes at the expense of labor's necessary value. The objective interests of private capital and labor are not identical in the old industrial setting, regardless of projections to the contrary. To create a community-wide "positive environment" in begging GM for a new allocation is tantamount to suppression of any public criticism of the utter corporate greed driving its "vehicle portfolio optimization," as GM characterizes its termination of several models, including the Cruze. Silence in the face of this economic tyranny is the voice of complicity. On its knees begging for a second chance is not the proper posture of organized labor; but rather, it is firmly standing upright and fearlessly speaking truth to power and forcefully demanding justice. For starters, that demand entails full repayment of the $50-billion loan given GM in corporate welfare a decade ago - an outstanding bill of some $10 billion is still owed taxpayers. Better yet would be implementation of corporate alimony, a mandate requiring corporations to justly compensate communities they abandon after benefitting from decades of enrichment there. Yet, to date, not even a murmur along these lines; just a call from community leaders to be hopeful and quietly wait and pray for a miracle. A recipe for disaster.

However, beyond the viability of the labor-management dialectic, there is another dynamic at work in this transition from traditional cars to electric cars which deserves greater attention and analysis. We live in perilous times of grave existential threats to humanity from the growing challenge and increasingly devastating crisis of man-made climate change. The science on climate change is abundantly clear. Unless radical changes are globally and timely implemented to significantly reduce greenhouse gas emissions and keep them exceedingly low, the very future of humanity and other life forms is at risk. This grave environmental crisis creates a new dialectic, one which supersedes and transcends the traditional labor-management one. Required in this dangerously new context is a paradigm shift of consciousness from conflicting class consciousness to harmonious covenantal mindsets within both labor and management and beyond, a unified humanity confronting a common existential threat. The thesis/affirmation of humanity and other life forms in covenantal union are contradicted by the antithesis/negation of climate change producers and deniers. Unlike the economic and particular labor-management dialectic, this new one is an existential and universal one. Whereas the former arrives at a synthesis of higher quality of life through class consciousness converting an objective class-in-itself to a subjective active class-for-itself, the current existential conflict encompasses all humanity - all classes, races, ethnicities, religions, and cultures - on one side of this colossal dialectical conflict and climate changers on the other. Conflicting class relations in this new context are superseded by complementary covenantal relations, ones that unite labor and management as well as all humanity facing a common foe in climate change. That objective covenant-in-itself must be transformed into an active covenant-for-itself if the current existential crisis is to be overcome.

In that regard, General Motors is to be applauded for its explicit goal of zero emissions through its all-electric autonomous Cruise operations which are slated to reach commercialization at scale beginning in 2019. By 2023, GM intends to have at least 20 all-electric models on the market globally in paving the way toward a zero-emission future in the automobile industry. In direct contradiction to a zero-emission future, on the other hand, are potent political and economic forces bonded to fossil fuel extraction and consumption, like the Trump regime and mother earth frackers who foolishly promote the existential threat of climate change and thereby constitute the negation of this new dialectic. America's ruling class is clearly split on this question of energy options, and therein lies real hope for needed qualitative change. While the majority still favors and actively fosters fossil-fuel industries, a growing minority within corporate America, as evidenced by GM's embrace of a zero-emission future, has become enlightened to the urgent need for clean energy everywhere. That enlightenment must expand at all levels of our deeply divided society to ensure sheer survival, let alone safety and security. If and when this new global consciousness based on covenantal relations grips the mind of the masses along with the corporate and political power elite, climate change and global warming will not only be reduced; these existential threats will be negated altogether, and a new chapter in human history will open. The alternative is not only unacceptable, it is unthinkable.

The Great Recession, Six Years Later: Uneven Recovery, Flawed Indicators, and a Struggling Working Class

By Colin Jenkins

In July of this year, Barack Obama boasted of an impressive recovery the US has undertaken since the Great Recession of 2008, proclaiming, "We've recovered faster and come farther than almost any other advanced country on Earth." To support this claim, the White House released a report showing that, out of 12 countries identified as "advanced" (France, Germany, Greece, Iceland, Ireland, Italy, Netherlands, Portugal, Spain, Ukraine, United Kingdom and United States), the United States is "one of only two (the other being Germany) that experienced systemic financial crises in 2007 and 2008 but have seen real (gross domestic product) per working-age person return to pre-crisis levels."

Reports such as these have become commonplace in 2014, not only from those in the White House, but also from multiple media sources. Within mainstream circles, the recovery has generally been lauded by the Democratic wing of the media (MSNBC, Huffington Post, and of course reports from the White House) and questioned by the Republican wing (Fox News, the Wall Street Journal). Since the reports stemming from these sources are almost always politically-charged, they have a tendency to be misleading in at least some manner. In the rare instance where genuine information or analysis leaks from the mainstream, it is usually the unintended result of a media spin.

Ultimately, the intended purpose of these reports are reduced to either showing Barack Obama and the Democratic Party in a good light (by focusing on seemingly positive statistics) or showing Obama and the Democrats in a bad light (by focusing on seemingly negative statistics). Often times, the same statistics may be used; however, spun differently. Neither side is interested in formulating meaningful analysis, but rather in swaying voters one way or the other. Still, in this media tug-o-war, facts are sometimes used to support political arguments, and thus may be useful from time to time if one is able to pick them out of the fray. But, even when we catch a glimpse of fairly reliable statistics, how do we cut through the politically-charged spins to give them meaning?

Take Obama's July statement for instance. It suggests that the US has experienced a strong recovery since the 2008 economic crisis, right? Well, not necessarily. What it says is that the US has experienced a better recovery than 11 out of 12 of its "advanced" counterparts that "experienced systemic crises," which (it's important to note) were handpicked by the White House. According to the International Monetary Fund, there are actually 36 countries that are considered to have "advanced economies." And considering the global nature of the economy, it's difficult to claim that 67% of them avoided systemic crisis. When compared to the 36, the US ranks 12th in GDP growth and 9th in unemployment rate recovery. Not necessarily bad, but certainly not as good as suggested.

Which brings us to some other questions: How accurate are GDP and unemployment rates when assessing the overall economic well-being of a country? Why are such macroeconomic indicators used so frequently in mainstream analyses? Do they accurately represent the well-being of the working-class majority, or do they simply represent convenient fodder used to supplement political spins? Let's take a look.

Gross Domestic Product and the Dow Jones Industrial Average

Two major indicators used to determine the overall health of the economy are the Gross Domestic Product (GDP) and the Dow Jones Industrial Average (DJIA).

US GDP growth rates over the past six years suggest a strong recovery. Since falling more than 16 percent during the Great Recession of 2008-09, the GDP has experienced growth in 19 out of 21 financial quarters.

2013 was especially successful in terms of GDP growth, averaging over 3 percent for the first time since the recession. 2014 started out slow, dropping a little over 2% in the first quarter (Q1 2014); however, this was written off as an irregularity by analysts, including PNC Senior Economist Gus Faucher, who attributed the drop to " bad weather " that "was a significant drag on the economy, disrupting production, construction, and shipments, and deterring home and auto sales." Since that time, the GDP has been growing at a rate of 4.1% over the past six months.

The DJIA has shown even bigger signs of recovery. After being cut in half between September 2007 (15,865) and February 2009 (7,923), the DJIA has experienced an almost unfathomable boom.

It hit its highest point ever in November 2013, nearly five years after the recession, at 16,429, and has been breaking records ever since. Heading into November of 2014, it stands at 17, 390 - the highest point in its 128-year history.

Corporate Profits

Not surprisingly, the cumulative amount of corporate profits in the United States have paralleled the success of the stock market. American Enterprise Institute economist Mark J. Perry has illustrated a sharp correlation between the S & P 500 Index and after-tax corporate profits in the chart below:

Perry explains this phenomenon:

"Starting about 2009, a one-to-one relationship between stock prices and after-tax corporate profits has once again re-emerged, and both the S&P 500 and corporate profits have increased by the exact same 119% at the end of 2013 from their cyclical, recessionary lows. The all-time record highs for the S&P 500 Index in 2013 were being driven by record-high corporate profits as the chart shows, and it's almost certain that the ongoing bull market rally in 2014 continues to be supported by record-high corporate profits."

The corporate landscape has rarely been as conducive to generating profit as it is right now. As a result, the post-recession years have been dubbed "a golden age of corporate profits" by those in both mainstream and alternate media. Specifically, "corporate earnings have risen at an annualized rate of 20.1 percent since the end of 2008." As a percentage of national income, "corporate profits stood at 14.2 percent in the third quarter of 2012, the largest share at any time since 1950."

To put the significance of this growth in perspective, at the end of 2008, during the peak of the recession, US corporate after-tax profits totaled $671.40 Billion. At the end of June 2014, that total has nearly tripled to $1.842 Trillion.

Unemployment Rate and Job Growth

Another major indicator used to gauge the state of the economy is the unemployment rate. In October of 2009, after the residual effects of the recession had settled, the US unemployment rate officially hit 10% for only the second time since 1940 (10.8% in 1982). After hovering around 9% through 2011, the rate has steadily decreased over the past few years, dropping below 6% in September of 2014 - a level untouched since July of 2008.

This new 6-year low in the rate includes 1.9 million people dropping from the ranks of the unemployed, and the number of "long-term unemployed" falling 1.2 million over the past year.

According to the US Department of Labor, "employers added 248,000 jobs in September (2014)" and "payrolls have expanded an average 227,000 a month this year, putting 2014 on track to be the strongest year of job growth since the late 1990s." The job growth rate in 2014 included a 300,000+ jump in April. And much of this expansion has been fueled by the private sector, which "has now added 10.3 million jobs over 55 straight months of growth" since the recession.

Flawed Indicators

Based on assessments which focus on macroeconomic indicators like the GDP, DJIA, and Unemployment Rate, one could reasonably come to the conclusion that not only has the US fully recovered from the "Great Recession," but it has actually surpassed pre-recession levels in economic well-being. However, this begs the question: whose well-being? And a closer examination uncovers plenty of contradictions.

The contradictions that arise from such assessments are largely due to the inherent flaws of these indicators. According to the New Economy Working Group, "Gross Domestic Product (GDP) has many deficiencies as a measure of economic well-being. Most often noted is the fact that it can only add, which means it makes no distinction between beneficial and harmful economic activity." Also, GDP analyses focus solely on total growth, and do not attempt to assess levels of wealth distribution:

"There could be complete income equality with everyone's purchasing power growing equally. Or the society may be divided between a small minority of the extremely affluent and a majority of the extremely destitute - or anything in between. GDP gives no clue one way or the other. Growth in the incomes of a few billionaires can produce impressive growth in GDP even as a majority of people starve."

In fact, during the past half-century, the DJIA has lost almost all of its credibility as a reliable indicator of economic well-being. And since the rise of globalization in the late-1990s, it has become increasingly irrelevant to economic activity on a national level. "The Dow's biggest flaw, perhaps, is that it doesn't help us to make sense of an increasingly interconnected global economy - one in which what's good for GM isn't always good for the country," explains Adam Davidson. "GE, IBM and Intel, for example, all make more than half their profits in other countries. And while this may be great for their shareholders, it means little for most Americans."

The ever-increasing gap between corporate profit and workers income has also served as a death knell to the DJIA indicator. "In the postwar boom of the 1950s, the economy was growing so fast, and the benefits were so widely shared (throughout the socioeconomic ladder), that following 30 large American companies was a solid measure of most everyone's personal economy," Davidson adds. Back then, "what was good for GM really was good for the country." In a modern economic environment that rewards CEOs 331 times more than the average worker, and 774 times more than minimum wage workers, this is no longer the case. (In 1983, this ratio was 46 to 1)

Historically, the unemployment rate has been considered a fairly weak indicator of economic well-being, and for good reason. Its two major flaws lie in its failure to gauge levels of income, and its inability to consider things like "underemployment" and "hidden unemployment."

These lost categories include "people who have given up looking for jobs or work part time because they can't find full-time position." In 2014, as unemployment statistics suggest a vast improvement in labor participation, "more than 9 million Americans still fit into these categories, about 60 percent - or 3.5 million - above prerecession levels, according to the Labor Department."

Evan Horowitz explains:

"Let's say there are 100 people either working or looking for work. If 94 of those people have jobs, and six are seeking jobs, then the unemployment rate is 6 percent.

Notice that a lot hinges on people 'working or looking for work.' Say you want to work, but the job market is bad and you decide to put off the search until conditions get better. You're still unemployed, just not counted as unemployed by the government.

To return to the example, if three of those six people looking for work get discouraged and give up, the unemployment rate would fall to about 3 percent."

Furthermore, the unemployment rate completely ignores income. In other words, even rates that are considered to represent "full employment" (4-5%) essentially mean nothing if a considerable number of jobs pay poverty wages.

State of the Working Class

Because macro-indicators like the DJIA, GDP, and unemployment rates are severely flawed in their ability to reflect standards of living and economic well-being for a population, it is important to evaluate how the majority is fairing in this so-called recovery.

Since the US population throughout is largely driven by consumerism, a telling statistic is the market-based core personal consumption expenditures (PCE) price index, a measurement used to determine the amount of expendable income the average consumer possesses at a given time. According to Josh Bivens of the Economic Policy Institute, "the market-based price index for core PCE (i.e., excluding food and energy) rose just 1.3% over the past year, well below the Fed's 2% inflation target." This supports further evidence that impressive gains in GDP and corporate profits are simply not reaching (or trickling down to) a majority of Americans.

Despite recent and steady job growth, there are still 1.4 million fewer full-time jobs in the US today than there was in 2008. A recent survey conducted at Rutgers University reports that more than 20 percent of all workers that have been laid off in the past five years still have not found a new job.

When considering workers who have given up on job searches, the unemployment rate is estimated at more than 12 percent.

A more accurate indicator than the unemployment rate may be the actual employment rate. When looking at this, we see that roughly 80 percent of " prime-age workers " (those between 25 and 54) had jobs in 2007. "That bottomed out at around 75 percent during the worst of the downturn, but has risen to only 76.7 percent since."

Despite steady job growth, new jobs simply do not stack up to the jobs that were lost. In sectors that experienced severe job losses due to the recession, workers are earning 23% less today. The average annual salary in the manufacturing and construction sectors - a particularly hard hit area - was $61,637 in 2008. It has now plummeted to $47,171 in 2014. Similar adjustments to income levels imply that $93 billion in lower wage income has been created during the recovery - meaning workers, across the board, are receiving a much smaller share than they were before 2009.

A report by the United States Conference of Mayors (USCM) also showed that "the majority of metro areas - 73 percent - had households earning salaries of less than $35,000 a year," hardly a living wage for families facing ever-rising commodity prices.

Despite increased productivity and corporate profits, most workers' wages have actually fallen. Biven reports, "From the first half of 2013 to the first half of 2014, real hourly wages fell for all deciles, except for a miniscule two-cent increase at the 10th percentile. Underlying this exception to the general trend at the 10th percentile is a set of state-level minimum-wage increases in the first half of 2014 in states where 40 percent of U.S. workers reside."

"As a percentage of national income, corporate profits stood at 14.2 percent in the third quarter of 2012, the largest share at any time since 1950, while the portion of income that went to employees was 61.7 percent, near its lowest point since 1966,"reported Nelson Schwartz in 2013. Dean Maki, chief US economist at Barclay's reports that "corporate earnings have risen at an annualized rate of 20.1 percent since the end of 2008, but disposable income inched ahead by 1.4 percent annually over the same period, after adjusting for inflation," adding that "there hasn't been a period in the last 50 years where these trends have been so pronounced."

In the midst of impressive GDP growth, the US working class is experiencing a legitimate hunger crisis that does not seem to slowing down. "As of 2012,49 million Americans suffer from food insecurity, defined by the U.S. Department of Agriculture (USDA) as lack of access to 'enough food for an active, healthy life.' Nearly one-third of the afflicted are children. And millions of them don't even have access to food stamps, according to a new report from the anti-hunger organization Feeding America."

In May of 2014, there were 46.2 million Americans on food stamps, a slight decrease from a record 47.8 million in December 2012. According to the US Department of Agriculture, 14.8% of the US population is currently on the Supplemental Nutrition Assistance Program (SNAP). Prior to the recession, the percentage of the population requiring such assistance hovered between 8 and 11 percent.

According to the US Census Bureau, "in 2013, there were 45.3 million people living in poverty" and "for the third consecutive year, the number of people in poverty at the national level was not statistically different from the previous year's estimate." The official poverty rate is at 14.5 percent.

Conclusion

Between 2008 and 2013, the number of US households with a net worth of $1 million or more increased dramatically, from 6.7 million to 9.6 million. Households with a net worth of $5 million and $25 million respectively also increased. "There were 1.24 million households with a net worth of $5 million or more last year, up from 840,000 in 2008. Those with $25 million and above climbed to 132,000 in 2013, up from 84,000 in 2008."

The US government, or more specifically, the Federal Reserve, has been instrumental in this uneven recovery that has been characterized by massive corporate profits and booming millionaires on one side (a small minority), and falling wages, increased poverty, and frequent reliance on food stamps on the other side (a large majority).

According to a September 2014 study by the Harvard Business School, the widening gap between America's wealthiest and its middle and lower classes is "unsustainable," and "is unlikely to improve any time soon." The study points the finger at "shortsighted executives" who are "satisfied with an American economy whose firms win in global markets without lifting US living standards" for American workers, and therefore create an extremely polarized population where a majority of workers are disenfrachised from the business world.

The practice of quantitative easing (QE) - "An unconventional monetary policy in which a central bank purchases government securities or other securities from the market in order to lower interest rates and increase the money supply" - has become common during the recovery. Essentially, this practice "increases the money supply by flooding financial institutions with capital in an effort to promote increased lending and liquidity." After three bouts of QE, all occurring since the recession, the Federal Reserve has acquired $4.5 trillion in assets , while adding at least $2.3 trillion of additional currency into the economy.

Robert D. Auerbach - an economist with the U.S. House of Representatives Financial Services Committee for eleven years, assisting with oversight of the Federal Reserve, and now Professor of Public Affairs at the Lyndon B. Johnson School of Public Affairs at the University of Texas at Austin - estimates that 81.5% of this money has not been used to "stimulate the economy," but rather " sits idle as excess reserve in private banks."

Others have reported that, rather than sitting idle as Auerbach suggests, the money has actually funneled through to major corporate players, creating massive personal wealth for a select few. CNBC's Robert Frank reported just last week that "the world's billionaires are holding an average of $600 million in cash each - greater than the gross domestic product of Dominica," which "marks a jump of $60 million from a year ago and translates into billionaires' holding an average of 19 percent of their net worth in cash."

When considering the top-heavy recovery numbers, and increased misery for the working class, this comes as no surprise. And it certainly comes as no surprise to political economist Doug Henwood, who reported such trends back in 2012:

"Despite the strong recovery in cash flow, to record-breaking levels, firms are investing at levels typically seen at cyclical lows, not highs. Some cash flow is going abroad, in the form of direct investment, but still you'd think returns like these would encourage investment. Instead, they've been shipping out gobs to shareholder. Here's a graph of what I call shareholder transfers (dividends plus stock buybacks plus proceeds of mergers and acquisitions) over time:

Though not at the preposterously elevated levels of the late 1990s and mid-2000s, transfers are at the high end of their historical range. Instead of serving the textbook role of raising capital for productive investment, the stock market has become a conduit for shoveling money out of the 'real' sector and into the pockets of shareholders, who besides buying other securities, pay themselves nice bonuses they transform into Jaguars and houses in Southampton."

The Great Recession - like the 2001 recession before it, the 1990-91 recession before that, the 1981-82 recession before that, the 1973-75 recession before that, and so on - was the result of deeper systemic deficiencies. While the emergence of financialization opened the door for manipulative and predatory finance tricks (credit default swaps, mortgage-backed securities, NINJA loans, etc...) and helped to construct an impressively profitable house of cards, it is only part of the story. Ultimately, it is the boom & bust, cyclical nature of capitalism, along with its perpetually falling rates of profit (not cumulative profit), that are truly responsible, though almost always ignored.

The nature of this latest recovery suggests that the final nail in the working-class coffin, whose construction has been underway since the birth of neoliberalism, has been secured into place. Despite desperate measures used to pump massive amounts of currency into the economy through QE, virtually none has trickled down to the 99%. It's like déjà vu, all over again. And again… And again…