More on the class war

E.D. Kain at Balloon Juice:

The financial collapse of 2008 was caused by reckless economic elites who were well-connected enough to take risks and not suffer consequences for them.  This led directly to a $900 billion dollar decrease in the value of public pension funds (not to mention the depletion of privately held 401k’s and other middle-class sources of retirement savings). Now well-connected economic elites are blaming public workers for the sorry state of affairs we find ourselves in and want to cripple public labor unions and further deplete these ‘unsustainable’ public pensions in order to restore fiscal sanity, all while extending their own Bush-era tax cuts indefinitely. Money flows up, after all.
The middle class is being pit against itself. Somehow, thousands of laid off workers and the loss of retirement income for countless others is an economic boon, whereas taxing the wealthy is a sure recipe for fiscal insolvency. Wisconsin is just one example of this elaborate con. And it is a con.

Read the whole thing.