“The Bear Market Economics Phenomenon” is an observation of Political Economics. Wall Street Admits: ‘We Got Rich Off the Backs of Workers’ thus creating the Bear Market. The Bear Market is America's default war.
The ethic of Wall Street is the ethic of celebrity. It is fused into one bizarre, perverted belief system and it has banished the possibility of the country returning to a reality-based world or avoiding internal collapse. A society that cannot distinguish reality from illusion dies.
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UNLIKE presidential contests, America’s mid-term elections do
not seem to inspire many people. In 2012 fully 59% of registered voters
turned up at the polls for the presidential election. But two years
earlier just 42% bothered to cast their votes in the 2010 mid-term
elections, and this year’s turnout may be even lower. Few are as
uninterested as the young. In 2010 the turnout of people aged 18 to 24
was just 21%. Such low turnout means that in mid-term years, Republicans
(whose voters tend to be older) dominate the ballot, even though they
cannot win so easily in presidential years. In plenty of Senate races,
Democrats are banking, perhaps too hopefully, on an unusually high youth
turnout to win. Why is it so difficult to get young people to vote?
It
is not only in America that the young do not exercise their democratic
rights. In 2010 just 44% of people aged 18 to 24 voted in Britain’s
general election, compared with 65% of people of all ages. In not a
single European country do the young turn out more than older people.
Historically, youth turnout has never been particularly high anywhere,
but over the past few decades things have got worse. One explanation
favoured by older people is that the young are simply lazy. But this
does not make much sense. Today’s young people volunteer more than old
people; they are much better educated; and they are less likely to drink
excessively or use drugs than previous generations of youth. That does
not seem like a recipe for political apathy.
A better explanation
may be that young people today do not feel they have much of a stake in
society. Having children and owning property gives you a direct interest
in how schools and hospitals are run, and whether parks and libraries
are maintained. But if they settle down at all, young people are waiting
ever longer to do it. In 1970 the average American woman was not yet 21
years old when she first married, with children and home ownership
quickly following.
Today women marry at 26 on average, if they marry at
all, and are likely to want a career as well as children. People who
have not settled down are not much affected by political decisions, and
their transient lifestyles can also make it difficult to vote. In
Britain, almost a quarter of 19-year-olds move from one local authority
to another in a typical year; more still will move within the same
district. If you rent a room and move often, registering to vote is a
chore which is easily forgotten until it is too late. Many states in
America require people to present government-issued ID in order to vote.
Many young Americans do not have driving licenses, hunting licenses or
passports, and it is a chore to get a special voter's ID, so many end up
unable to vote. (Electoral fraud by impersonation in America is a
negligible problem: such laws tend to be cynically enacted by
right-wingers to suppress turnout among those that are most likely to
vote against them.)
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