Christmas in America

[Joanne98]

Christmas in America this year reveals two starkly different social realities.

Three years since the onset of the recession in December 2007, the majority of the US population is facing staggering levels of unemployment, home foreclosures, hunger and poverty. For millions of working-class families, buying gifts this year required scraping together scarce dollars, borrowing from friends and relatives or adding more debt to their already overloaded credit cards.

At the other pole of society, America’s ruling elite, which has presided over this economic catastrophe, is celebrating its good fortune. The recent deal by President Obama and the Congressional Republicans to extend tax cuts to the richest two percent of the population tops off a year of record corporate profits and an 85 percent surge on the S&P 500 stock index.

2010 is expected to be the second most profitable year for Wall Street investment firms on record. The biggest five banks—JPMorgan Chase, Bank of America, Morgan Stanley, Goldman Sachs and Citigroup—have put aside at least $90 billion for year-end bonuses that could top last year’s payouts.

http://www.wsws.org/articles/2010/dec2010/pers-d24.shtml

[TBF]

1. "This means a struggle to put an end to capitalism ...

... a system that benefits the rich at the expense of the masses of working people, and replace it with socialism."

I completely agree.

[pipoman]

2. Not in your lifetime or mine..

[TBF]

3. There are millions protesting in Europe - I don't know why you think that can't happen here. nt

[pipoman]

4. We can't even get healthcare

I don't know how anyone could think it will happen.

[TBF]

5. It's certainly not something that's going to happen through electoral processes that's for sure. nt