The Class War Rages

Frank Rich on the three decade-old war in America (h/t Ritholtz):

Our class war will rage on without winners indefinitely, with all sides stewing in their own juices, until when? No one knows. The reckoning with capitalism’s failures over the past three decades, both in America and the globe beyond, may well be on hold until the top one percent becomes persuaded that its own economic fate is tied to the other 99 percent’s. Which is to say things may have to get worse before they get better. (bold mine)

Over the short term, meanwhile, the Democratic Establishment is no doubt wishing that Occupy Wall Street will melt away with the winter snows, much as its Republican counterpart hopes that the leaderless tea party will wither if Romney nails down the nomination. But even in the unlikely event that these wishes come true, it is not likely to be the end of the story. Though the Bonus Army was driven out of Washington in the similarly fraught election year of 1932, the newsreels they left behind turned out to be previews of coming attractions for the long decade still to come.

That's going to take a while.  As long as the power brokers like Steve Jobs look to China for their labor, and their profit margins, things will deteriorate here.