The US Is Officially A Banana Republic: The Top 1% Now Own More Wealth Than The Entire Middle Class

[Couchpotato]

Have you seen pictures of major west coast cities with miles of homeless tents on the streets?

Granted most of that is drug related but not all of it

And how do you account for two million dirt poor migrants coming across the southern border each year?

If you dont believe the middle class in America is under assault you are out of touch

The uber libs at the Pew Research Center can see it

How the American middle class has changed in the past five decades

The share of adults who live in middle-class households fell from 61% in 1971 to 50% in 2021, according to a new analysis.

www.pewresearch.org

So no link showing the statistics that the poverty rate is increasing? Thanks.

 

[themirrorthief]

The US Is Officially A Banana Republic: ​

The Top 1% Now Own More Wealth Than The Entire Middle Class​

The US Is Officially A Banana Republic: The Top 1% Now Own More Wealth Than The Entire Middle Class

In some ways, we sympathize with Neel Kashkari's fake "concern" about the unprecedented we...

austrian.economicblogs.org

Summary:
In some ways, we sympathize with Neel Kashkari's fake "concern" about the unprecedented wealth inequality that has emerged in the US in recent years and which has resulted in a slow, methodical and relentless destruction of the US middle class ... or rather make that precedented because there was another time when the top 0.1% had amassed as much wealth and it was just before the Great Depression. After all, who hasn't seen charts such as these showing the tremendous divergence in income earned by America's Top 1% at the expense of the middle and lower classes: Or that the top 10% now own 70% of all the US wealth, the same as the middle and lower classes combined...... up 10% from the 60% of wealth they controlled at the start of the century.
~Snip~
It's not just stocks that have benefited the super rich: housing has too. While a generation ago, the middle class held more than 44% of real estate assets in the country, it is now down to 38%. The pandemic generated a boom in housing values that has benefited most those who owned real estate in the first place. It also led to soaring rents this year, which hurt those who can’t afford a house. The self-feeding loop was yet another source of wealth transfer for the wealthier.
So the next time someone abuses the popular phrase "they hate us for our [fill in the blank]", perhaps it's time to counter that "they" may not "hate" us at all, but rather are making fun of what has quietly and slowly but surely become the world's biggest banana republic?
And it has not Russia, nor China, nor any other foreign enemy to blame except one: the Federal Reserve Bank of the United States.
Full story here

Comment:
Historically, bad shit ensues when this is sustained. Given a fed-up heavily armed populace, well....
The 18th century French banker and philosopher named Richard Cantillon noticed a phenomenon that when new money was issued by the king/government, it always flowed first to those closest to the source - the rich, powerful and connected.
He wrote called ‘An Essay on Economic Theory,” and his basic theory was that who benefits when the state prints a bunch of money is based on the institutional setup of that state. In the 18th century, this meant that the closer you were to the king and government power, the more you benefitted. The rich received “new money” first, often on beneficial terms. The further away you were, ie) average workers, the more you were harmed, due to inflation and debasement.
Money, in other words, is not neutral. This general observation, that money printing has distributional consequences that operate through the price system, is known as the “Cantillon Effect.”
The solution is simple. Break up Amazon and apply the law to politicians that have become multi-millionaires by insider trading.

at least communism is a proven fail

 

[themirrorthief]

So no link showing the statistics that the poverty rate is increasing? Thanks.

the democrats are shipping in millions of poor down at the border....however, thanks to handouts they may be doing better than some working class folks

 

[Couchpotato]

the democrats are shipping in millions of poor down at the border....however, thanks to handouts they may be doing better than some working class folks

This also has nothing to do with the “disappearing middle class”

 

[Mac-7]

So no link showing the statistics that the poverty rate is increasing? Thanks.

How the American middle class has changed in the past five decades

The share of adults who live in middle-class households fell from 61% in 1971 to 50% in 2021, according to a new analysis.

www.pewresearch.org

 

[Couchpotato]

How the American middle class has changed in the past five decades

The share of adults who live in middle-class households fell from 61% in 1971 to 50% in 2021, according to a new analysis.

www.pewresearch.org

Your article says the middle class decreased by 11%. The upper class increased by 7%. This isn’t a good thing?

 

[sparky]

What does one have to make as income to not be in poverty?

more than they used to .....~S~

 

[Billy000]

The US Is Officially A Banana Republic: ​

The Top 1% Now Own More Wealth Than The Entire Middle Class​

The US Is Officially A Banana Republic: The Top 1% Now Own More Wealth Than The Entire Middle Class

In some ways, we sympathize with Neel Kashkari's fake "concern" about the unprecedented we...

austrian.economicblogs.org

Summary:
In some ways, we sympathize with Neel Kashkari's fake "concern" about the unprecedented wealth inequality that has emerged in the US in recent years and which has resulted in a slow, methodical and relentless destruction of the US middle class ... or rather make that precedented because there was another time when the top 0.1% had amassed as much wealth and it was just before the Great Depression. After all, who hasn't seen charts such as these showing the tremendous divergence in income earned by America's Top 1% at the expense of the middle and lower classes: Or that the top 10% now own 70% of all the US wealth, the same as the middle and lower classes combined...... up 10% from the 60% of wealth they controlled at the start of the century.
~Snip~
It's not just stocks that have benefited the super rich: housing has too. While a generation ago, the middle class held more than 44% of real estate assets in the country, it is now down to 38%. The pandemic generated a boom in housing values that has benefited most those who owned real estate in the first place. It also led to soaring rents this year, which hurt those who can’t afford a house. The self-feeding loop was yet another source of wealth transfer for the wealthier.
So the next time someone abuses the popular phrase "they hate us for our [fill in the blank]", perhaps it's time to counter that "they" may not "hate" us at all, but rather are making fun of what has quietly and slowly but surely become the world's biggest banana republic?
And it has not Russia, nor China, nor any other foreign enemy to blame except one: the Federal Reserve Bank of the United States.
Full story here

Comment:
Historically, bad shit ensues when this is sustained. Given a fed-up heavily armed populace, well....
The 18th century French banker and philosopher named Richard Cantillon noticed a phenomenon that when new money was issued by the king/government, it always flowed first to those closest to the source - the rich, powerful and connected.
He wrote called ‘An Essay on Economic Theory,” and his basic theory was that who benefits when the state prints a bunch of money is based on the institutional setup of that state. In the 18th century, this meant that the closer you were to the king and government power, the more you benefitted. The rich received “new money” first, often on beneficial terms. The further away you were, ie) average workers, the more you were harmed, due to inflation and debasement.
Money, in other words, is not neutral. This general observation, that money printing has distributional consequences that operate through the price system, is known as the “Cantillon Effect.”
The solution is simple. Break up Amazon and apply the law to politicians that have become multi-millionaires by insider trading.

Uh well the left has been telling you this shit for years.

 

[Mac-7]

Your article says the middle class decreased by 11%. The upper class increased by 7%. This isn’t a good thing?

No it isnt

The rich and poor are increasing and those in the middle are shrinking

 

[Dr.Know]

Do not demonize the rich ; without them, you would be wearing rabbit skins and eating worms. The rich are simply smarter than the rest of the people and without their ingenuity for creating JOBS, the "Middle Class" would not exist.

No, they dont owe you anything but a paycheck, if you dont like it, create your own job.

Rich guy : Nerd that saved his money and invested wisely perhaps buying an apartment complex or a business. He took LOTS OF RISK over the last 40 years.

Middle Class guy: Once they get a good paying job ( from the rich) they focus on creature comforts like gambling, motor homes, harleys, 75k Trucks , chasing pussy and only concern themselves with politics every 4 years whereby they vote on slogans.

If a rich person creates many jobs, they should not pay any taxes.

 

[Couchpotato]

No it isnt

The rich and poor are increasing and those in the middle are shrinking

It’s a bad thing that people have MORE money? I think those people would disagree with you

 

[Mac-7]

It’s a bad thing that people have MORE money? I think those people would disagree with you

Most people dont

 

[Couchpotato]

Most people dont

Most people who make more money than they used to agree with you that it’s bad for them? Why don’t they just stop making more money? Or give that extra money away?

 

[Frankenstein]

Yeah, well, it's because when democrats are increasing taxes on the rich, they provide loopholes for their friends, you know rich donors, and the increase gets passed on to the middle class!

 

[Mac-7]

Most people who make more money than they used to agree with you that it’s bad for them? Why don’t they just stop making more money? Or give that extra money away?

So just ignore the majority who are hurting because some people are doing better?

 

[Foxfyre]

The US Is Officially A Banana Republic: ​

The Top 1% Now Own More Wealth Than The Entire Middle Class​

The US Is Officially A Banana Republic: The Top 1% Now Own More Wealth Than The Entire Middle Class

In some ways, we sympathize with Neel Kashkari's fake "concern" about the unprecedented we...

austrian.economicblogs.org

Summary:
In some ways, we sympathize with Neel Kashkari's fake "concern" about the unprecedented wealth inequality that has emerged in the US in recent years and which has resulted in a slow, methodical and relentless destruction of the US middle class ... or rather make that precedented because there was another time when the top 0.1% had amassed as much wealth and it was just before the Great Depression. After all, who hasn't seen charts such as these showing the tremendous divergence in income earned by America's Top 1% at the expense of the middle and lower classes: Or that the top 10% now own 70% of all the US wealth, the same as the middle and lower classes combined...... up 10% from the 60% of wealth they controlled at the start of the century.
~Snip~
It's not just stocks that have benefited the super rich: housing has too. While a generation ago, the middle class held more than 44% of real estate assets in the country, it is now down to 38%. The pandemic generated a boom in housing values that has benefited most those who owned real estate in the first place. It also led to soaring rents this year, which hurt those who can’t afford a house. The self-feeding loop was yet another source of wealth transfer for the wealthier.
So the next time someone abuses the popular phrase "they hate us for our [fill in the blank]", perhaps it's time to counter that "they" may not "hate" us at all, but rather are making fun of what has quietly and slowly but surely become the world's biggest banana republic?
And it has not Russia, nor China, nor any other foreign enemy to blame except one: the Federal Reserve Bank of the United States.
Full story here

Comment:
Historically, bad shit ensues when this is sustained. Given a fed-up heavily armed populace, well....
The 18th century French banker and philosopher named Richard Cantillon noticed a phenomenon that when new money was issued by the king/government, it always flowed first to those closest to the source - the rich, powerful and connected.
He wrote called ‘An Essay on Economic Theory,” and his basic theory was that who benefits when the state prints a bunch of money is based on the institutional setup of that state. In the 18th century, this meant that the closer you were to the king and government power, the more you benefitted. The rich received “new money” first, often on beneficial terms. The further away you were, ie) average workers, the more you were harmed, due to inflation and debasement.
Money, in other words, is not neutral. This general observation, that money printing has distributional consequences that operate through the price system, is known as the “Cantillon Effect.”
The solution is simple. Break up Amazon and apply the law to politicians that have become multi-millionaires by insider trading.

I think when the histories of the 21st century are written, it will show that leftist/Marxist/woke/socialist concepts forced on the American people destroyed the middle class. Even the GOP is culpable in some of that.

By making people more comfortable in not seeking to prosper and bribing contributions from the rich via policy, plus the dedicated assault on the traditional family, religion, and conservative values, the middle class has been diminishing at an alarming rate.

It was Donald Trump who was turning that around, but the people were manipulated and fooled by a corrupt media so that he could not be re-elected. Trump was a threat to those who want power at the top and who don't really care that there may be very little middle class in America. And because those at the top now control most of government, media, education, scientific institutions, too many Americans are not informed of what is being done to them.

We are returning to the sociopolitics of the Middle (dark) ages.

 

[Couchpotato]

So just ignore the majority who are hurting because some people are doing better?

More people are doing better than before even according to your article. That doesn’t mean we ignore those who aren’t but the implication when someone says the “middle class is being destroyed” is that the people leaving it are becoming poorer. That’s not the case as the majority are leaving it for the upper class.

BTW. According to the Government our poverty rate is shrinking. In fact it’s half what it was in the 50s.

 

[Mac-7]

More people are doing better than before even according to your article. That doesn’t mean we ignore those who aren’t but the implication when someone says the “middle class is being destroyed” is that the people leaving it are becoming poorer. That’s not the case as the majority are leaving it for the upper class.

BTW. According to the Government our poverty rate is shrinking. In fact it’s half what it was in the 50s.

No way is the middle class moving up into the rich category faster than its falling

 

[sparky]

The rich and poor are increasing and those in the middle are shrinking

got a few minutes?



~S~

 

[Couchpotato]

No way is the middle class moving up into the rich category faster than its falling

It’s says they are in the article you linked moron.