The idea right now is that wages are staying low, so there isn't inflationary pressure coming from people demanding higher pay to handle the inflation that is there. On account of this, the Federal Reserve is not raising interest rates yet. They are trying to stick with Milton Friedman's theory that tightening money when the Great Depression hit was the actual reason that depression was so deep and long. What are people going to do as they are laid off and can't find work? What are people who still have jobs going to do when they can't make their bills? This is coming at a time when the lower and middle classes are being asked to foot the bill for bailing out the rich.
The larger the pool of unemployed, the more workers are competing for the same jobs, and the less employers have to hand out more in salaries and wages relative to other costs. That's the whole idea behind systemic unemployment. It was the whole idea behind off shoring jobs. It was part of the plan to bust the unions. So, again, what are people going to do?
Their going to learn from each other what happened and who was responsible and why unlike ever before. Oh, there were people who knew way back when, but they didn't have the means of being heard quite so clearly and certainly not as non-fiction. The movies showed some anti-capitalists leanings, but the only written non-fiction was on paper and considered subversive. Today, the Internet allows people to learn and learn quickly if they care to, if they have been driven to ask the question of why?
The big wave of people asking why hasn't come yet. Too many young adults have come up out from the 1980s when Ronald Reagan's so-called revolution was brainwashing so many about the evils of big government when in fact, it was big business and big banks and big Wall Street firms that put the U.S. into economic depression. Why the adults who backed Franklin Roosevelt's New Deal didn't educate or re-educate the masses is a mystery.
There was some strange regulation in the 1960s and 70s, but it was still based upon worker and consumer protection. There had been snake oil salesmen after all. People did die from poison. Workers were being crippled and killed left and right. The old were often living in abject poverty after a life of hard labor. They didn't live long on account of the capitalist system.
The capitalists are quick to claim all the credit for American economic "success." Frankly, the good things about the American economy are still the results of the more regulated eras. The times of less and no regulation always have ended up being worse than the worst of the regulated times in the U.S.
The only problem with regulations is that they are coerced into existence rather than being the result of consensus from the grassroots up, or better, across.
Well, this is a global recession heading into a rolling depression — pass the loss around like a hot potato to keep the people guessing. The U.S. will come out of it first if the plutocrats are true to form.