“It’s like when Southern towns preferred to drain their public swimming pools after courts ordered them integrated. But in this case, the public pool was the affordable college system that used to be the envy of the world — yet another example of how when racism wins, we all lose.”
Let’s honor Labor Day by reviewing what’s happened to wage-earners in the eight years since central banks “saved the financial system” with free money for financiers: wage-earners have taken a beating and been dumped in a ditch. It’s really very simple: wage-earners have seen their real earnings (as measured by purchasing power) stagnate or decline while those chosen few with access to near-zero interest borrowed capital have seen their net income and wealth explode higher.
It’s once again the first Monday in September, and that means Americans are taking the day off, hitting the beach, and grilling in honor of all the supposedly wonderful things unions have done. But rather than placing so much public emphasis on Labor Day — a tradition whose time has passed — Americans would be better off observing something that takes place a couple of weeks later: Constitution Day.