Swap "Intel" for "Juniper" or for "Google." Do you think Google had regulatory capture at the point where it made its founders and early employees rich? Really?
Well what struck me about the video is that the middle class doesn't really exist anymore. The thing is, I don't think a lot of the people who used to be middle class and are now poor are aware of that fact. What I mean is, they don't really have the mentality that a lot of us longterm poor folks have. They're a lot angrier for one thing, and they have an awareness that they are entitled to something more.
So the 22-year-olds in the earlier interns post who think they should have a good job out of college but instead work as baristas while they toil at their internships, they really expected something better. I mean, to me, a 22 year old is fortunate if they can get a good job driving a school bus, but that's because I'm poor and grew up around poor people. Working in fast food is exactly where I'd expect someone in their early 20s to be simply because I didn't know many college graduates when I was that age so I had only the distant awareness that there were other possibilities for young people besides being poor. But now there aren't anymore.
I've been on food stamps for a while but something radical has happened in that last five or six years. It used to be that I often ran into cashiers who couldn't run the card correctly, or stores would have only a few registers that could handle food stamps. I had a working relative, someone who used to be blue collar middle-class, and when I asked him to go to the store for me and use my card he was always so embarrassed to do it in his work uniform.
Now, someone who wears a work uniform is probably just as broke as me. Now, every other person in line at the market is on food stamps. My relative still has his job and he makes the same amount of money (in itself a problem), but he's out of money at the end of the month just like me and the rest of us on welfare. A lot of people are going hungry now. A lot of people are jumping from job to job now. They have nothing but debt no matter how much income they have.
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