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The New Normal: A Lot Like Now Only Worse

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But even this relatively low unemployment, compared to where we are now, will continue to depress wages for the bottom 90% and drive up income for the top 10%.

The income and wealth disparity we have today, nearly what it was in the 1920's, will grow larger as the top tier of income and wealth consolidate and protect their assets, while the middle class slides into marginal poverty.

Fortunately or unfortunately, you will not need to be a sustenance farmer if you don't choose to.

More likely our children will lower their sights and work in some of the most dangerous jobs in the world: retail sales clerk (think armed robbery) and construction (falling is the major hazard here), and one not so dangerous: police and security work.

Nothing wrong with any of the jobs that will be abundant. Honest work is just that, but the wages they pay will not reflect their worth only their lowly status. The median pay for these jobs now is between: $29,150 to $44,500. Expect these number to fall and fall fast as people accept any job as better than no job. (

Don't be fooled when the top economic story is "a increase in real hourly wages." These statistics include all the money that's levitating to the top 10%. The average wages of the bottom 90% may well be falling.

The New Normal will put America back to work and that work will be doing lots of things that the top 10% of our new two caste society wants...

The Three P's: Pampering, Perfecting and Protecting

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The upper 10% will want to be well cared for. Think a house full of servants at Second World prices, labor deeply discounted to the point where everything can be had 24/7 without a thought as to the cost for the top dogs.

Pampering: Lots of personal services. Put personal in front of each of these: assistants, shoppers, physicians, coiffures, chefs, nannies, teachers, coaches, therapists, trainers, gardeners nay master gardeners and a full staff, et cetera.

To the wealthy the world should be a reflection of themselves, therefore, they shall be surrounded with as much perfection as possible with, again, decreased wages making it feasible.

Perfecting: Lots of maintenance and sprucing up. Manicured boulevards and golf courses, utilities moved underground, picture perfect towns and villages; ultra chic hotels, restaurants, night clubs, cafes, resorts, county clubs, etc.

Safety and security will, of course be necessary.

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Beijing's Olympic Forces Drive Segways - New Normal Security by Alex Pasternack, New York, NY

Protecting: Lots of men and women with guns. Put gated in front of each of these and then add guards: communities, properties, resorts. Private and mercenary police forces to put down any unrest. Intelligence gathering to head off any unrest. Laws to keep the "have nots" at bay. People to bust unions or prevent organizing.

I know what you're thinking, all this has already happened. Yes, now think more of it, much more, and bigger and stronger.

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Chaz Valenza is writer and small business owner in New Jersey. He earned his MBA from New York University's Stern School of Business. His current feature film project is "Single Point Failure" an insider's account of how the Reagan Administration (more...)

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We ending the 2001 recession with a "jobless recov... by Chaz Valenza on Saturday, Aug 21, 2010 at 5:39:44 PM
I especially appreciate your analysis of mainstrea... by Jack Flanders on Saturday, Aug 21, 2010 at 5:52:32 PM
Because the piece was running long I cut some addi... by Chaz Valenza on Saturday, Aug 21, 2010 at 6:12:58 PM
America's love of money has now reaped its just re... by Archie on Sunday, Aug 22, 2010 at 3:09:34 PM
This scenario has been done to death ergo the curt... by Donald on Sunday, Aug 22, 2010 at 3:53:11 PM
May-be they forgot to read history...orThey made i... by Debbie S on Sunday, Aug 22, 2010 at 10:47:28 PM
Perhaps we are in the earlies stages of moving to ... by Temy Beal on Monday, Aug 23, 2010 at 2:57:45 AM