Fight disinformation. Get a daily recap of the facts that matter. Sign up for the free Mother Jones newsletter.

Pew’s recent polling report, “Trends in Political Values and Core Attitudes: 1987-2009,” is chock full of fascinating nuggets, not least of which is its surprisingly robust finding of substantially increased political polarization over the past 20 years.  Also: the continuing demise of the GOP and the continuing triumph of more liberal social values among all age cohorts.  On the downside: environmentalism is looking pretty ragged.  Bloggers looking for inspiration should have no trouble finding plenty of good stuff here.

At the moment, however, I guess I’m in the mood for some idle chitchat.  Namely, how do we explain this particular chart?  Take a look at just the last two data points, which show the effect of the current recession.  Rich people feel lousy: their financial satisfaction has plummeted 20 percentage points.  But the recession has had only a minor effect on the financial satisfaction of the upper middle class and it’s had no effect at all on the lower middle class and the poor.

Why?  One possible explanation is that the bottom three classes had already gotten most of their dissatisfaction out of the way: compared to the start of the Bush era, they were already at least ten points more dissatisfied by 2007.  They just didn’t have much further to fall.  The rich, by contrast, had been getting richer and more satisfied all along, so when the recession hit, it hit hard.

I’m not sure I buy that, though.  It’s intuitively reasonable that when people get into a long-term funk over their stagnant (or worsening) finances, a new shock to the system just gets added to the pile and shrugged off.  But there are shocks and there are shocks, and this particular recession has produced rising gasoline prices, substantially higher levels of unemployment and underemployment, millions of home foreclosures, and a huge loss of housing wealth even for those who have kept their homes.  Those are the kinds of shocks people don’t just shrug off.

The rich becoming less financially satisfied is easy to understand.  But why is it that the non-rich seem to be mostly taking things in stride?  Some kind of weird Obama optimism effect?  A sudden realization that plasma TVs aren’t all they’re cracked up to be?  I’m a little stumped here.

(Via Ramesh Ponnuru.)

ONE MORE QUICK THING:

Or at least we hope. It’s fall fundraising time, and we’re trying to raise $250,000 to help fund Mother Jones’ journalism during a shorter than normal three-week push.

If you’re reading this, a fundraising pitch at the bottom of an article, you must find our team’s reporting valuable and we hope you’ll consider supporting it with a donation of any amount right now if you can.

It’s really that simple. But if you’d like to read a bit more, our membership lead, Brian Hiatt, has a post for you highlighting some of our newsroom's impressive, impactful work of late—including two big investigations in just one day and covering voting rights the way it needs to be done—that we hope you'll agree is worth supporting.

payment methods

ONE MORE QUICK THING:

Or at least we hope. It’s fall fundraising time, and we’re trying to raise $250,000 to help fund Mother Jones’ journalism during a shorter than normal three-week push.

If you’re reading this, a fundraising pitch at the bottom of an article, you must find our team’s reporting valuable and we hope you’ll consider supporting it with a donation of any amount right now if you can.

It’s really that simple. But if you’d like to read a bit more, our membership lead, Brian Hiatt, has a post for you highlighting some of our newsroom's impressive, impactful work of late—including two big investigations in just one day and covering voting rights the way it needs to be done—that we hope you’ll agree is worth supporting.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate