That is my take on this post from Audacious Epigone. The post is a discussion of a “comment of the week” from one of his commenters. It mostly talks about the au courant notion of a coming asset crash, almost with a sort of glee. The same commenter makes the following remark in the comment thread for the post:
The plutocrats and the upper middle class and the government workers will be wiped out when the currency collapse wipes out the debt.
Problem for the commenter and perhaps even Mr. Epigone is that the three groups mentioned constitute the bulk of married parents of children under 18, married couples in general and a substantial minority of cohabiting/single parents of children under 18. That is to say, such a crash will wipe out the very people having the children right now. One can argue about whether they’re doing a good job with the kids or having a sufficiency of them (after all, I certainly spend plenty of time on such topics, lol), but at some point, the right (whether its more dissident side or its more mainstream sides who frankly share similar views about asset bubbles and crashes) needs to grasp that the “rich” or “affluent” or “upper income households” or “the government types” make up the mothers and fathers of most of our children.
The right has to stop hoping for the dissolution of 10-15 million married parent families, of a million solo/cohabiting families and of 20-30 million married couple families with no under-18s at home. That is what would happen if these dreams of a big asset crash or currency collapse come true in the next few years. It won’t punish your political enemies, unless now everyone who got married before having kids or at least made 75k+/yr first (cohabiting high earners and increasingly some of the high earning solo parents) is your “political enemy”.
Even many lower-earning family households are reliant on profit shares, bonuses based on company performance, and market returns on endowed funds for the nonprofits or educational institutions they are employed with.
I’m not saying no crash or collapse will happen. It could, for all we know. But I am saying that the right should be promoting how to cramdown debt for such households, and how to claw back bigger shares of equity and company profits for the class of people producing our future taxpayers and future at all, and who have been converted by the actual elites into a dependent wage-earning class.
In other words, the right should be acting like it understands the changes in the demographic makeup of married families, that they are mostly college educated, mostly 1 to 1.5-earner households and that the “top of the bottom” for married parents is essentially the median household income. That is, making the median household income (63k in 2019) for married parents is around the 25-26th percentile (as of 2018) for their 22-23 million strong pool of households.
Also, as I already alluded to, many of these households do NOT have mom working full-time outside the home, and in fact much of the increase in double-income parent households has happened in the 25th-50th percentiles, while higher income households in the top half of married parents are continuing to see women exit full-time and frequently any paid employment during elementary and secondary school years. So maybe it’s time for some new narratives.