(no subject)
~In the class based system of capitalism, "recovery" will only come for the rich investor class. The working class will not witness any "recovery".
The reason for this is that real incomes for working people have not improved for decades. In fact, working people today earn less in real wages than they did in 1970. The capitalist class has waged an unrelenting class struggle to lower the living standards of working people over these decades. These same workers have been loaded with personal debt to enable them to purchase the consumer goods that capitalism needs to sell them. So rather than raising incomes, the capitalists have simply lent the working class money. Well, we are finally confronted with this contradiction. Workers can no longer continue to borrow to sustain a standard of living that is beyond their means.
The reason for this is that real incomes for working people have not improved for decades. In fact, working people today earn less in real wages than they did in 1970. The capitalist class has waged an unrelenting class struggle to lower the living standards of working people over these decades. These same workers have been loaded with personal debt to enable them to purchase the consumer goods that capitalism needs to sell them. So rather than raising incomes, the capitalists have simply lent the working class money. Well, we are finally confronted with this contradiction. Workers can no longer continue to borrow to sustain a standard of living that is beyond their means.