quetzalcoatlhadanafro:

 

The Tea Party movement itself is, maybe 15% or 20% of the electorate. It’s relatively affluent, white, nativist, you know, it has rather traditional nativist streaks to it. But what is much more important, I think, is the outrage. Over half the population says they more or less supported it, or support its message. What people are thinking is extremely interesting. I mean, overwhelmingly polls reveal that people are extremely bitter, angry, hostile, opposed to everything.

The primary cause undoubtedly is the economic disaster. It’s not just the financial catastrophe, it’s an economic disaster. I mean, in the manufacturing industry, for example, unemployment levels are at the level of the Great Depression. And unlike the Great Depression, those jobs are not coming back. U.S. owners and managers have long ago made the decision that they can make more profit with complicated financial deals than by production. So finance – this goes back to the 1970s, mainly Reagan escalated it, and onward- Clinton, too. The economy has been financialized.

Financial institutions have grown enormously in their share of corporate profits. It may be something like a third, or something like that today. At the same time, correspondingly, production has been exported. So you buy some electronic device from China. China is an assembly plant for a Northeast Asian production center. The parts and components come from the more advanced countries – and from the United States, and the technology . So yes, that’s a cheap place to assemble things and sell them back here. Rather similar in Mexico, now Vietnam, and so on. That is the way to make profits.

It destroys the society here, but that’s not the concern of the ownership class and the managerial class. Their concern is profit. That is what drives the economy. The rest of it is a fallout. People are extremely bitter about it, but don’t seem to understand it. So the same people who are a majority, who say that Wall Street is to blame for the current crisis, are voting Republican. Both parties are deep in the pockets of Wall Street, but the Republicans much more so than the Democrats.

The same is true on issue after issue. The antagonism to everyone is extremely high – actually antagonism – the population doesn’t like Democrats, but they hate Republicans even more. They’re against big business. They’re against government. They’re against Congress.