SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
5
#000000
#FFFFFF
Fast-food workers strike outside a Chicago-area McDonald's on July 31, 2013. (Photo: Steve Rhodes/Flickr)
Labor Day Lesson: There's No Such Thing as a "Consumer"
Sep 01, 2014
In the run-up to this Labor Day, I've noticed several CEOs, political pundits, and so-called economic experts saying they're confused as to why Americans are so down. Consumers should be out buying stuff, they say, for the economy is humming again. Just look at the key indicators: GDP is growing, corporate profits are high, the stock market is soaring, jobs are being created, the unemployment rate is steadily dropping, and people's disposable income is up. Yet, as the CEO of The Container Store recently grumped, consumers are in "a retail funk."
That's so cluelessly wrong, sir. Consumers (unlike you platinum-card members of the CEO Club) are in an income funk, meaning we have very little of the green stuff coming in. The bottom line is that Americans are down, because... well, because most of us are down. Yearly income for the typical household is $3,300 lower today than in 2007, when Wall Street barons crashed our economy. Or look at what's happened to the typical American family's net worth. It was nearly $88,000 ten years ago, but today it's down to $56,000 - that's more than a one-third drop, even though we're told that America is enjoying "a strong recovery."
And the picture is not getting any brighter, because a new normal has been imposed on America's workforce. Senor CEO has been gleefully slashing both jobs and pay, reducing the future of work to a low-wage, no-benefits, part-time, grind. One more number for you: 48. That's the percentage of adults who now hold full-time jobs - leaving more than half of us trying to make ends meet on part-time work.
The lesson for the Powers That Be on this Labor Day is that there is no species called "consumers." Rather, that creature is just a worker with a decent-paying job. Eliminate the job or shrivel the pay and - Poof! - consumerism goes away.
An Urgent Message From Our Co-Founder
Dear Common Dreams reader, The U.S. is on a fast track to authoritarianism like nothing I've ever seen. Meanwhile, corporate news outlets are utterly capitulating to Trump, twisting their coverage to avoid drawing his ire while lining up to stuff cash in his pockets. That's why I believe that Common Dreams is doing the best and most consequential reporting that we've ever done. Our small but mighty team is a progressive reporting powerhouse, covering the news every day that the corporate media never will. Our mission has always been simple: To inform. To inspire. And to ignite change for the common good. Now here's the key piece that I want all our readers to understand: None of this would be possible without your financial support. That's not just some fundraising cliche. It's the absolute and literal truth. We don't accept corporate advertising and never will. We don't have a paywall because we don't think people should be blocked from critical news based on their ability to pay. Everything we do is funded by the donations of readers like you. Will you donate now to help power the nonprofit, independent reporting of Common Dreams? Thank you for being a vital member of our community. Together, we can keep independent journalism alive when it’s needed most. - Craig Brown, Co-founder |
© 2023 Jim Hightower
Jim Hightower
Jim Hightower is a national radio commentator, writer, public speaker, and author of the books "Swim Against The Current: Even A Dead Fish Can Go With The Flow" (2008) and "There's Nothing in the Middle of the Road But Yellow Stripes and Dead Armadillos: A Work of Political Subversion" (1998). Hightower has spent three decades battling the Powers That Be on behalf of the Powers That Ought To Be - consumers, working families, environmentalists, small businesses, and just-plain-folks.
In the run-up to this Labor Day, I've noticed several CEOs, political pundits, and so-called economic experts saying they're confused as to why Americans are so down. Consumers should be out buying stuff, they say, for the economy is humming again. Just look at the key indicators: GDP is growing, corporate profits are high, the stock market is soaring, jobs are being created, the unemployment rate is steadily dropping, and people's disposable income is up. Yet, as the CEO of The Container Store recently grumped, consumers are in "a retail funk."
That's so cluelessly wrong, sir. Consumers (unlike you platinum-card members of the CEO Club) are in an income funk, meaning we have very little of the green stuff coming in. The bottom line is that Americans are down, because... well, because most of us are down. Yearly income for the typical household is $3,300 lower today than in 2007, when Wall Street barons crashed our economy. Or look at what's happened to the typical American family's net worth. It was nearly $88,000 ten years ago, but today it's down to $56,000 - that's more than a one-third drop, even though we're told that America is enjoying "a strong recovery."
And the picture is not getting any brighter, because a new normal has been imposed on America's workforce. Senor CEO has been gleefully slashing both jobs and pay, reducing the future of work to a low-wage, no-benefits, part-time, grind. One more number for you: 48. That's the percentage of adults who now hold full-time jobs - leaving more than half of us trying to make ends meet on part-time work.
The lesson for the Powers That Be on this Labor Day is that there is no species called "consumers." Rather, that creature is just a worker with a decent-paying job. Eliminate the job or shrivel the pay and - Poof! - consumerism goes away.
Jim Hightower
Jim Hightower is a national radio commentator, writer, public speaker, and author of the books "Swim Against The Current: Even A Dead Fish Can Go With The Flow" (2008) and "There's Nothing in the Middle of the Road But Yellow Stripes and Dead Armadillos: A Work of Political Subversion" (1998). Hightower has spent three decades battling the Powers That Be on behalf of the Powers That Ought To Be - consumers, working families, environmentalists, small businesses, and just-plain-folks.
In the run-up to this Labor Day, I've noticed several CEOs, political pundits, and so-called economic experts saying they're confused as to why Americans are so down. Consumers should be out buying stuff, they say, for the economy is humming again. Just look at the key indicators: GDP is growing, corporate profits are high, the stock market is soaring, jobs are being created, the unemployment rate is steadily dropping, and people's disposable income is up. Yet, as the CEO of The Container Store recently grumped, consumers are in "a retail funk."
That's so cluelessly wrong, sir. Consumers (unlike you platinum-card members of the CEO Club) are in an income funk, meaning we have very little of the green stuff coming in. The bottom line is that Americans are down, because... well, because most of us are down. Yearly income for the typical household is $3,300 lower today than in 2007, when Wall Street barons crashed our economy. Or look at what's happened to the typical American family's net worth. It was nearly $88,000 ten years ago, but today it's down to $56,000 - that's more than a one-third drop, even though we're told that America is enjoying "a strong recovery."
And the picture is not getting any brighter, because a new normal has been imposed on America's workforce. Senor CEO has been gleefully slashing both jobs and pay, reducing the future of work to a low-wage, no-benefits, part-time, grind. One more number for you: 48. That's the percentage of adults who now hold full-time jobs - leaving more than half of us trying to make ends meet on part-time work.
The lesson for the Powers That Be on this Labor Day is that there is no species called "consumers." Rather, that creature is just a worker with a decent-paying job. Eliminate the job or shrivel the pay and - Poof! - consumerism goes away.
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.