Friday, January 21, 2011

Financial Elite Have Dismantled the American Middle Class – Top 1 Percent Share of Wealth at Levels Not Seen Since the Great Depression

The U.S. economy is now operating like a finely tuned engine bent on dismantling the middle class and protecting the tiny elites in our nation that have learned to manipulate both political parties to their financial benefit. This did not occur over night but started in the 1970s when the U.S. government and investment banks juiced up the nation with deficit and debt spending. A single family cannot go into debt for a very long time without consequences but a rising housing market hid much of the inequality developing in our system for a very long time. It was an illusion of stability. The top 1 percent in our nation now control 43 percent of all financial wealth. These are levels not seen since the years before the Great Depression consumed the global economy. The fact of the matter is the top 1 percent has massively gained in real financial terms because of political maneuvering and selling out the middle class.

Goldman Sachs offering average bonuses of $430,000 while a record 43,200,000 Americans receive food stamps

1 comment:

  1. But but... economics isn't zero sum! Giving money to the wealthy will create jobs! Like, there's never been a higher demand for solid gold yachts.

    Who needs a middle class, anyway. All of us can be the wealthy elite, if we just put our minds to it and apply our talent and intelligence. If you're poor, it's because you're clearly a moron who is lazy. Obviously...


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