It was Mark Twain who coined the term Gilded Age. Gilded was sarcastic humor for Golden Age. Gilded refers to plated as opposed to solid Gold. The Stock Market Crash of 1893 validated Twain's prophecy.The fastest growth in American GDP was triggered by the Trans Continental Railroads. The Railroads opened the Wild West to pillage from New York's Financial District.
Born were The Robber Barons of Standard Oil and United States Steel. The untapped resources of the West was fertile virgin soil for sound money making investments. The Government Supported Railway was paid for by all the citizens and exploited by only a few. The Rockefeller's, Vanderbilt, DuPont, Carnegie and Mellon were some of those who profited from the People's Railroads.
The Progressive Era, early 1900 was born from the journalists who published the reality of an unfair system that rewarded some so lavishly. The popularity grew to political capital so great that the White House became at risk. Theodore Roosevelt in a speech referred to a 1620 literary figure of a Man who rejected Salvation to focus on raking the filth beneath his feet. The term Muckrakers origins are derived from Roosevelt's Speech.
These were the founders of Investigative Journalism or Watch Dog Journalism accepted today. Yellow Journalism referred to publisher who sensationalized truth to sell rumor and gossip. Yellow Journalism has seen a rebirth with Cable News Pundits today.
Muckrakers exposed the filth found in American Meat Packing Industry that resulted in the formation of USDA and FDA standards. The Standard Oil Monopoly was broken in the Sherman Anti Trust Act. They wrote of corruption in Congress which brought about the 17th Amendment to the US Constitution. Article were written exposing fraud in Life Insurance and Pharmaceuticals. The American Federation of Labor was born from public outrage of child labor. The wealth of the Robber Barons was being diminished in new legislation and a new Congress elected by the people.
President Roosevelt was the first President to embrace the Muckrackers as legitimate journalist, once ignored as radicals. The Muckrackers now had the ear of the White House. Much as President Andrew Jackson was attacked as a Jackass, Jackson accepted the charge. The Jackass became the symbol of the Democratic Party. Muckrakers became synonymous with good rather than evil in a twist of popularity.
Roosevelt witnessed the ravages of unregulated capitalism and Founded The National Parks as protected lands. One hundred years ago America was busy protecting our Union from 2big2fail TARP Fascism. The Great Depression brought on even further regulations to reel in the Greed of Casino Banking. The 1934 Glass Steagall Act formed the FDIC guarantee and outlawed Casino Banking until 1999.
In the 1970's we saw the Great American Rust Belt formed as global competition invaded our economy. America chose to accept global competition. At the same time it overlooked the lessons learned during The Progressive Era of early 1900.
In a unregulated World Economy the Robber Barons have returned. The unfair system of the Gilded Age is back on a Global scale. Just as it crashed in 1893 it has crashed again globally in 2008.
Born in the Crash of 2008 are the Occupy Wall Street protesters. These are the descendants of the Muckrakers of early 1900. Internet Bloggers support the OWS movement 2 to 1. Just as President Roosevelt could not ignore the will of the people. The White House can no longer ignore those sleeping in Zuccoti Park and elsewhere around the globe. The difference is the Occupy Wall Street is also on a global scale reaching to all developed countries in bandwidth of Internet Brotherhood. Global Trade and greed is being met with Global Muckrakers in 2011.
At stake are the very same issues of early 1900. Corruption in Congress, Poisoned food supply with salmonella and listeria. Sweat Shops overseas and here in the US with Covert Immigration. Casino Banking has returned without Glass Steagall Act. Health Care Insurance and Pharmaceutical are out of control in America. Everything that Teddy Roosevelt fought so hard against has slipped away in the New Global Economy. Not free trade, we have unfair trade. People living outside Democracy are being pitted against those workers living inside Democracy.
We've seen this movie before a hundred years ago. The result today rests with Occupy Wall Street success. Will we have Democracy or more hypocrisy?
Teddy Roosevelt wrote:
There are, in the body politic, economic and social, many and grave evils, and there is urgent necessity for the sternest war upon them. There should be relentless exposure of and attack upon every evil man whether politician or business man, every evil practice, whether in politics, in business, or in social life. I hail as a benefactor every writer or speaker, every man who, on the platform, or in book, magazine, or newspaper, with merciless severity makes such attack, provided always that he in his turn remembers that the attack is of use only if it is absolutely truthful.
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