Monday Blues: Where Do We Go From Here?

NY TIMES: Is it time to awake from the American dream?

"Perhaps because they were making so much money out of it, Americans were slow to notice something peculiar about the American dream, and potentially divisive. The ideal of living “unhampered,” as Adams put it, by the barriers to social mobility erected in other countries is meaningful most of all to those familiar with other countries. The American dream is more evident to elites (including well-traveled historians like Adams) and to immigrants than it is to others. It is cosmopolitanism masquerading as American exceptionalism. When the billionaire Peter Peterson announced this year that he would join an initiative launched by Bill Gates and Warren Buffett and use at least half his wealth for philanthropy, he referred to himself as “the son of poor Greek immigrants who has certainly lived the American dream.” Paradoxically, it is Peterson’s Greekness rather than his Americanness that gives him the bona fides to pronounce on the subject.

"Most of the time we do not realize that what we are dreaming is the American dream, any more than we realize that what we are speaking is prose. World travelers, politicians and self-made men are not wrong to see the promise of American life as a stirring and romantic tale. To the median, native-born American with no other frame of reference but his life’s span in this country, however, it is not a dream. It is simply the social contract. We are increasingly discovering that there are rational, nononeiric* ways to measure when that contract is being broken."

(*=non-dreamlike)
More here

NY POST: Why Middle Income Jobs Aren’t Coming Back (hint: the economy is working the way it is currently designed to work) here