Mandeville, LA – After a disastrous defeat in Vietnam and the adoption of Reaganomics, the American Empire embarked upon becoming La República Bananera del Norte. On a small scale, the two vanguard nations, Guatemala and Honduras, gave the world the three defining characteristics of a Banana Republic.
I. Class Structure: a tiny elite, a small middle class, and a large underclass. The ratio of CEO pay to worker pay rose from 20:1 in 1965 to 271:1 in 2017. Over the past forty years, with increasing globalization, factory workers, as well as many middle managers, experienced a shift from a high-wage to a low-wage economy.
More and more families patch together two or more paychecks to meet the widening income, healthcare, and pension gaps that are threatening the middle class. In the wake of the 2008 economic collapse, high unemployment, the scarcity of high-paying jobs, and skyrocketing foreclosures led many Americans to believe that much of the middle class is sinking into the underclass.
II. Rule by a corrupt oligarchy.The power wielded by corporations in American politics is a puzzle only if one believes that American democracy operates according to Lincoln’s vision, “government of the people, by the people, for the people.” Indeed, in the modern world of politics, special-interest money is displacing voters. Money reaped through serving special-interest groups is converted into votes through what former Congressman Tony Coelho calls “political technology”—polling, television advertising, and computer-driven mail.
III. The policies of the oligarchy lead to the financial bankruptcy of the State. [This is self-evident and is discussed daily on this site and the Mike Church Show – Editor.] – Excerpted from George Stanciu, Is ‘Muirica A Banana Republic? The Imaginative Conservative