Social Devastation Prolonging Great Recession

Macroeconomics can't capture it. Macroeconomists can't stuff it in their paradigms. The Big Finance- Regulatory Government- Political Party interchangeable elite that rules our country can't even see it. The President and his cabal of advisors assuredly have no clue to it. What is it? "It" is the social devastation that is hollowing out the American promises of personal liberty and social-economic upward mobility. The decline in labor force participation, the collapse of traditional marriage, the rise of out-of-wedlock child births, the increased reliance upon welfare, the decline of saving, among many social characteristics, among the working and middle classes have dramatically curtailed the opportunity, motivation, and capability of those classes for education, for starting businesses, for accumulating wealth, for transferring wealth across generations, for moving families up the social ladder. Traditional values were always the basis for the miracle of the American economy, for realizing the American promise. We see the collapse of this promise in the devastation the Great Recession has inflicted upon the black middle class.