Brother, Can You Spare a 401(k)?
Nearly everyone has heard the plaintive tune “Brother, Can You Spare a Dime?” Until recently, the song seemed to be a relic of a Great Depression long gone, when everything was in black and white rather than color, the breadlines stretched around city blocks, and a dime could actually buy something worth having. But ever since the cascade of events last summer and fall that led to our current worldwide recession, the song doesn’t seem quite so quaint anymore. Could our grandparents’ and great-grandparents’ plight become ours?
The lyrics are poignant and moving, but they highlight the differences rather than the similarities between then and now. And those differences are not limited to the obvious fact that these days the question would be asked by Congress and large financial institutions. Nor are they limited to the fact that today the request would be for a few trillion dollars of their taxpayer “brothers” rather than a thin dime.
The music for “Brother, Can You Spare a Dime?” (based on a Russian lullaby) was composed by Jay Gorney, while the lyrics were written by Yip Harburg, who was later responsible for all the lyrics to the songs in The Wizard of Oz and the Broadway show Finian’s Rainbow. “Brother, Can You Spare a Dime?” became popular shortly before Roosevelt was inaugurated, when unemployment climbed close to the 25 percent mark.
So the main concerns of the protagonist in this song are jobs and food; the basics of life. There is no mention of the stock market crash of ‘29, or the failure of large corporations or banks, although these events had certainly already occurred. The focus is squarely on the individual worker of a particular type: the laborer. This corresponds to the reality of the Great Depression, during which job losses fell disproportionately on men rather than women, and on those in the manufacturing and building industries (mines, steel, autos, construction, agriculture, and railroads in particular) rather than in service, sales, or the professional spheres.
The labor force is a segment of our economy that has for some time now been much smaller than it was before and during the Depression. But it is the segment that strongly predominates in the photographs of city breadlines of the era, full of men wearing the caps that were the badge of the laborer. These breadlines were run by private charities; there was no government dole at the time. There was also no unemployment insurance and no Social Security; in fact, there was no tradition of government help at all, no public safety net, and no expectation of it. There were neither entitlement programs nor a sense of automatic entitlement. The idea was that an individual ought to be able to fend for himself through labor. The changes in attitude from then to now are profound, and they are partly a result of the suffering experienced during the Great Depression and of the New Deal that attempted to combat it.
The protagonist in the song is a proud person who has been reduced through force of circumstance to begging from strangers. He counters his resultant sense of shame by using action verbs as he describes what he has accomplished in his life: building towers and railroads, plowing the earth, and soldiering.
Harburg, who was a socialist in his youth and was still a man of the Left, began the song by setting up a shadowy “they” who had betrayed a pledge made to the protagonist. What was that promise? Not a handout, but rather the American dream itself: the idea of an orderly meritocracy in which hard work would be rewarded, and where there would be enough to go around to provide at least the basics for all who were willing to sweat to earn them.
They used to tell me I was building a dream …
The lyrics describe the promises made of “peace and glory ahead” by a “they” never identified. Is it the government? The rich? The founding fathers? Employers? Did “they” intentionally lie and deceive, or was the whole thing an unfortunate accident?
We never learn. But it is clear that the speaker feels betrayed by someone or something, and questions why this has happened to him after all his hard work:
Why should I be standing in line/Just waiting for bread?
The listener is also meant to question it. It was during the Great Depression, and especially during the New Deal that followed the situation described in the song, that many Americans began to answer with the idea that — whatever the original cause of the hardship — rugged individualism was no longer enough. They thought that government must step in to rescue people from what were seen as the worst excesses of capitalism.
Even then, the programs of the New Deal that focused on the problems of the worker were not designed to simply give people money for nothing. They were geared toward providing government jobs, with a special focus on building the infrastructure that had been neglected for years. In the song, however, the New Deal has yet to occur, and the protagonist addresses the individual listener rather than government. The request — a dime — is clearly inadequate, especially because it is apparent that most people are strapped for funds themselves and would find it hard to “spare” one. Another message is one of personal closeness rather than distance — that people were all in this thing together in a society of relationships, emphasized by the protagonist addressing the listener not as “sir” “or “mister” but as “brother” and “buddy.”
The protagonist doesn’t want all that much. His needs are modest compared with ours today. He doesn’t live in a McMansion purchased with a subprime mortgage he couldn’t afford. In fact, it’s likely that he’s never owned a home at all. Even before the Depression led to many foreclosures, home ownership rates had remained below the 50% mark until a post-WWII housing boom caused rates to begin to rise steeply, reaching a high of nearly 70% in recent years.
The singer wants work, and he wants food. Our plight could change over time to resemble his more closely — especially if unemployment rises more than it already has — but so far, much of the angst regarding the current recession seems different. It concerns the destruction of the perception of wealth, especially future wealth, and a new fear of the practice of living on credit, which allowed so many people to spend so much more money than they earned. Nowadays, the lyrics would be more likely to say, They used to tell me I was building a 401(k).
Roosevelt was not above encouraging class warfare, even though he was born to wealth himself. In his first inaugural, for example, he blamed the fat cats in the financial sector:
Practices of the unscrupulous money changers stand indicted in the court of public opinion, rejected by the hearts and minds of men. … Faced by failure of credit they have proposed only the lending of more money. Stripped of the lure of profit by which to induce our people to follow their false leadership, they have resorted to exhortations, pleading tearfully for restored confidence. They know only the rules of a generation of self-seekers. They have no vision, and when there is no vision the people perish.
But that was all in the future when “Brother, Can You Spare a Dime?” was written. We can — and will — argue endlessly about whether the New Deal served mainly to alleviate or to prolong the Great Depression. But one thing is clear: although the welfare state goes unmentioned in the song, it was the government’s answer to the dilemma the song posed. And since then, there’s been little turning back.






Their plight has already become ours, does the erection of Tent Cities across the nation go unnoticed?
We did not learn from history, so we are damned to repeat it. The Feds caused the first world wide depression, and they caused the second, its beginning we are witnessing today. We whine and stomp our feet in mock anger and shock, while trillions are stolen from our Nations greatest resource, the Taxpayer.
As long as we pretend to care, the looting will continue with abandon. The media is shocked, shocked i tell you regarding 165 million AIG distributes as bonus. Where are the stories of 150 BILLION sent to European Banking system, and why are Taxpayer funds being transferred to Europe? Show the documentation, the contract, the derivatives that support this transfer of wealth….there are none. It is theft, pure and simple.
When we finally drum up the courage to shut down the Federal Reserve we will regain our right to self determination. Until that day we continue to be enslaved to European money masters.
The ‘New Deal’ I could at my very desperate least find palatable.
The ‘BIG, fat bloviating LIE to and IN your face’ I just can’t swallow.
Maybe I’m suffering with ‘digesting B.S.’ problems.
Is there a pill for that? If so…sign me up to invest in a giant bin of ‘fukitol’.
“We can — and will — argue endlessly about whether the New Deal served mainly to alleviate or to prolong the Great Depression.”
This is not really a legitimate debate. Only a fool argues that the New Deal did not prolong the Great Depression. The evidence clearly shows that Herbert Hoover and Franklin D. Roosevelt worsened an already bad situation. Both men advocated for an activist government where the president acted somewhat as the CEO of America. Why is there still some disagreement? The reason is that “elites” want to run our lives. They perceive themselves as well educated and benevolent—and therefore entitled to tell the rest of us what to do. Existentially, they must believe in the New Deal. It provides meaning to their lives.
“Could the plight of our grandparents and great-grandparents become our own?”
Let’s this keep this simple…
YES.
As Western “Civilization” crumbles, it is time to face reality. The corrupt, unjust, man-made economic and governmental systems of the West must go.
The solution to all problems is Islam.
Soon President Obama will move to replace the corrupt and tattered Constitution of the United States by Allah’s (swt) holy law (Sharia). Deliverance will then be at hand.
The time grows short. Renounce your false religions. Embrace Islam now and live in peace in submission to the will of Almighty Allah (swt).
Your grandchildren will be Muslim.
Allahu akbar!
To the point, Team Obama is desperately trying to head off the shock of the March ending 401k statements which will be the first under his watch. The culmination, he evidently believes, will be his news conference-come-campaign-speech this week. Let’s see, any one want to bet that he won’t (a) blame others (b) be outraged at someone and (c) say my way or we’ll all follow in the path of the American Muslim into hell?
Say, has anyone talked to TOTUS about this week?
American Muslim; Sorry you can drink the kool-aid of Sharia but its implementation in other countries hasn’t wrought peace. Its outcome has been death and poverty. You can’t try that c… with my grandchildren.
Cassandra’s bitter satisfaction: while so far I think that it is a bit too early to see everybody in the soup line, an ugly certitude (anticipated by myself and many other people) looms over this nation – we have at the nation’s helm an utterly incompetent and wanton man, and this problem makes the affair much more difficult to solve.
Bellow is an excerpt from today’s Ottawa Citize/ RCP which sums up this situation mercilessly:
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“Too Clever by Half/ By David Warren
[...] Again, to my mind — and it is the only one I have with which to write this column — we would be wrong to think of Mr. Obama as an ideologue. I think he was perfectly sincere in denying that he was anything of the sort, and in claiming that he would be looking for bipartisan consensus. I also think he is sincere in proceeding with an agenda — on bail-outs, the environment, Medicare, life issues, foreign policy, etc. — that leaves most Republicans, and quite a few of the more conservative Democrats, utterly aghast.
How to explain this apparent contradiction? I’m afraid it is easy. As I mentioned during the presidential campaign, Mr. Obama was seriously unqualified for the job of president. He had no practical experience in running anything, except political campaigns; but worse, his background was one-dimensional.
All his life, from childhood through university through “community organizing” and Chicago wardheel politics, through Sunday mornings listening to the Rev. Jeremiah Wright, to the left side of Democrat caucuses in Springfield and Washington, he has been surrounded almost exclusively by extremely liberal people, and moreover, by people who are quick and clever but intellectually narrow.
He is a free soul, but he is also the product of environments in which even moderately conservative ideas are never considered; but where people on the further reaches of the left are automatically welcomed as “avant-garde.” His whole idea of where the middle might be, is well to the left of where the average American might think it is. To a man like Obama, as he has let slip on too many occasions when away from his teleprompter, “Middle America” is not something to be compromised with, but rather, something that must be manipulated, because it is stupid. And the proof that it can be manipulated, is that he is the president today.
It is at this point that the phenomenon known as “too clever by half” sets in. Technically, it is indistinguishable from arrogance and hubris, but it is unnecessary to stress the point. Sixty days into his first term (and I begin to doubt there’ll be a second), he would seem already to have dug a hole from which no rhetorical skill can lift him.
The video to Iran is the latest catastrophe. Mr. Obama simply does not understand how his “olive branch” will be received, not only by the mullahs in Iran itself, but wherever else on the surface of the planet the United States has enemies. It “reads” — to people who do not share anything like America’s aspirations — as an unambiguous confession of weakness. He has moved the American position towards Iran from offensive to defensive, for no defensible reason. [...]
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As far as Hussein’s latest move towards Iran – the incompentence here has now put us in a terrible situation.
The man’s thoughtlessness is simply unbelivable.
PLease ignore the muslim troll. He cuts and pastes the same thing over and over.
Btw, Has anyone else noticed the conspicuous absence of C-Fudd since things really went south? (knock on wood)
I must have misunderstood Allah and Mo his prophet.
I though we were allowed to marry our grandchildren and watch them grow up with the kids they have!
But- Yeah!
You are right!
Civilization would crumble.
Thank you Marc for placing light on the muslim troll.
I was starting to clean the second barrel.
My grandmother still lives as frugally as she were forced to during the depression.
I need to have her write her recipe for survival down.
The garden will be doubled this year and neighbors invited to help.
Keep the faith.
FDR and the NEW DEAL still made heroes out of Democrats.
30 years ago my Grandfather could not believe I voted Republican- “The Kids these days!”
FDR was elected for 12 years but did not survive his third term.
Had he lived 8 more years he might have served 20.
My ancestors thought he was Gods gift to politics.
Now Obama is wanting at least 8. and to keep Democrats in power for our lifetime.
It reminds me of that old ‘Producers’ movie.
The German writer Franz Liebkind tells Max and Leo:
“Vatt nice guys! Oh… Broadvay!”
“I haven’t been zis happy since vee crushed Poland!”
“Today Broadvay”- “Tomorrow the World!”
Excellent post. Wonderful platform upon which to build your discussion. But I’m prejudiced – I can hear Bessie Smith singing it as I write.
As you state, FDR was a lot more out-there on the left than people knew. Or know. I read a speech he gave, I think at Cornell, in which he decried the fact that people with a lot of wealth could employ it as they saw fit, rather than with an eye to the common good. Sound familiar?
I have felt for about the last ten years that things were not good and there was a reckoning awaiting. Things were just too frantic. My little shotgun double in New Orleans, for which I paid 32K in 1996, was suddenly “worth” about 120K in 2004. Huh? And the job creation numbers – they were announced not with glee but seemingly with a sense that disaster was again averted.
It was like driving a car at redline: one little piece of grit in the oil pump and the engine explodes.
And it did.
This may be a profound event, possibly on the order of the breakdown of the Roman empire.
“This may be a profound event, possibly on the order of the breakdown of the Roman empire.”
It probably will happen in a similar manner. I can sense that, in a few years, a couple of regions of this country are going to demand their independence from Washington, with the Federal government reacting in such a manner that a new civil war will commence. With the country as vulnerable as it will be then (if not now), attacks on any aspect of its infrastructure will surely grind much, if not all activity to a halt. Imagine an electromagnetic pulse attack, for example: that alone would, in theory, set this country back at least 100 years – to the time before Edison.
The New Dark Ages are going to be darker than anyone could ever imagine. No wonder guns and ammo are selling like hotcakes!
Could the plight of our grandparents and great-grandparents become our own?
As far as retirement goes, it already has become our own. With our 401ks already cut in half and still dwindling, we may end up dependent solely on the government if we ever find ourselves forced to retire. Unless we experience a dramatic revival soon, I and those of a similar age (mid 40s) will probably quite literally work until I drop dead of old age. That is only if our employers don’t force us to retire so they can hire younger, less expensive, people.
I don’t know what course to take in this environment.
The eloquence with which you write, leaves me in envy of a quality I personally lack. I am in love with your mind. I imagine you sipping coffee and sitting at a desk injected with the influence of solstice light along its ecliptic path,softly creeping through an old window pane, and only augmented with Edison before and after its daily arc. Your visual distractions are slight from about,glancing through the frame into a yard of tranquility,and only enough to give you pause when you choose, but not disturbingly unwanted.The living portrait you have framed for your viewing is of your most comforting impressions year in and year out. A slight titillation causing you to think as you ponder the silence that you demand and that which has allowed your mind the halt necessary to formulate your thoughts.
Your insight is much more than from academia… abstract,of personal intuitiveness, derived both from childhood, adult experience, and disallowing any destruction that might have been caused by mediocracy. Ah but where were you in my more self destructive years?
Don’t bother worrying about your 401k’s. Obama’s going to make you an offer you can’t refuse in about six months, when he realizes the Chinese and Japanese have stopped buying our Treasuries. The most convenient source of money — YOU 401k holders.
Your accounts are down 40%, so he’ll “offer” to roll them over to the new 401-O accounts that are 100% Treasuries paying 3%. There are $2 trillion available for this program. You’ll be able to keep them tax free if you do this and he’ll also top you up by 20%, but he’ll decide when, if ever you get to take it out. That is only if the dollar is worth anything.
If you don’t play ball, you get hit with a 50% tax bill payable this year. I’d stay away from the stock market while President Marx is still the boss.
A sack of gold coins in a hole in the backyard is looking like a better investment every day!
Re #17 Concerned Citizen: You raise an interesting possibility. Do you have any indication this might happen or is 401K confiscation just one of hundreds of possible scenarios? You can cause a run on 410Ks, you know, and economic collapse can become a self-fulfilling prophesy.
Mohammed be damned! May hot coals be poured on his head! As for me, I will never submit to Islam! I will never pay tribute to Islam! If it were up to me, I’d have nuked Mecca a long time ago. Jesus is Lord, and He is returning soon. So no, my grandchildren will not be Muslims, I can assure you of that, because I will not have any grandchildren, or if I do, Islam will have ceased to exist.
5. American Muslim:
“You can fool some of the people all of the time and all of the people some of the time but you can’t fool all of the people all of the time.”
Abraham Lincoln said this.
Islam is a malignant political ideology, not a religion. My granddaughter will never be a Muslim.
As for the 401K thing, the instant this is even proposed, my money leaves the country, never to return. Surely some smart Swiss or Cayman banker is preparing for this, now. Roosevelt basically confiscated private gold holdings – well, the smart people kept theirs. I’m sure that they’ll make foreign bank accounts illegal, but my 401k will have been spent. What account?
History teaches a lot, but you need to pay attention.
Good post. The answer to you is, “No, Sister, I can’t…” I definitely can’t spare my 401(K), and eventually I may not even be able to spare a dime, or at least the price of a Starbucks cup of coffee. Time will tell. In the meantime, between the monstrous and still unfolding domestic and global economic turmoil and the befuddling myriad of quick fixes coming out of DC daily, it feels like I am on the world’s largest and scariest roller coaster ride, without a seat belt and with sweaty and slippery palms, and am about to head into the upside-down part of the ride. I just don’t know if I will be able to hold on.