From press accounts it seems we won’t hear much substance on economic issues from Hillary Clinton during tomorrow’s campaign rally in New York City. The framework appears built on creating opportunities for the middle class according to articles in The New York Times and The Wall Street Journal.
While I expect to hear some populist buzzwords thrown around, I don’t expect Mrs. Clinton to harp on the banks or large businesses. Banks still lend financial capital and corporations, large and small, still deploy capital. Without capital moving to areas of opportunity, there will be no incentives to hire a labor force capable of managing that capital.
Nor do I expect Mrs. Clinton to ask the middle class to be accountable for their share of the blame for the economic morass some find themselves in. This includes failure to stay ahead of where labor and financial markets were heading; decisions to borrow and spend on non-income generating assets; and a failure to stay politically engaged beyond the usual two-year election cycle.
The middle class expects to be coddled and Mrs. Clinton may give them a little of that tomorrow as she swears that she is the candidate that can best “fight for them.”