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

[Couchpotato]

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.

We hear this over and over that the middle class is being destroyed. Ok where are they going? They aren’t becoming poor that sector of society isn’t growing. So if the middle class is disappearing where are they disappearing to?

 

[Mac-7]

Now they have caught up. They make things... often cheaper and better.

Who cares?

I am an America who understands the meaning of MAGA

America is my first priority

 

[Mac-7]

We hear this over and over that the middle class is being destroyed. Ok where are they going? They aren’t becoming poor that sector of society isn’t growing. So if the middle class is disappearing where are they disappearing to?

If you think the poor are not increasing then you havent been paying attention

 

[surada]

Who cares?

I am an America who understands the meaning of MAGA

America is my first priority

Trump tells you America is no longer great and only he can fix it. Do you ever think?

 

[sparky]

So if the middle class is disappearing where are they disappearing to?

poverty.......~S~

 

[Mac-7]

Trump tells you America is no longer great and only he can fix it. Do you ever think?

Trump does not have to tell me anything

I can see our problems with my own eyes

You may be content with a slow decline but I’m not

 

[struth]

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.

how does that make us a Banana Republic?

 

[Doc7505]

how does that make us a Banana Republic?

~~~~~~
Easy America is no longer a Constitutional Republic. Our bureaucrats have exploited, bastardized, fouled and sold out their oaths to enrich themselves.
A good example is our fraudulent 46th president who as used his positions in the Senate and as Vice president to leverage money from other countries to enrich himself and his family.
How and why would Biden have stolen top secret documents spread around his previous offices and home dating back to 2007?

 

[hadit]

The economy of Europe and japan had nothing to do with our economy in the US

America was great because we made things here

Why could we make things here and not be undercut on cost by other industrialized nations? Think about it.

 

[Couchpotato]

If you think the poor are not increasing then you havent been paying attention

Post a link that shows the percentage of people living in poverty is going up. Should be easy with the “desruction of the middle class”.

 

[bripat9643]

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.

Error 404 - Page Not Found​

 

[Couchpotato]

poverty.......~S~

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

 

[Hutch Starskey]

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.

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

Yep… sounds like they need another tax cut to get that trickle down flowing.

 

[Hutch Starskey]

I was a teenager in the 1950s,

That was when we really had a middle class.

And the country was so much happier.

And the tax rates for the super wealthy were?

 

[Couchpotato]

And the tax rates for the super wealthy were?

That’s a cool story too bad it’s just not true

U.S. Poverty Statistics and Facts (Updated for 2024)

Learn about how poverty affects different demographics in the United States by looking at the most recent statistics and data.

www.debt.org

“In the late 1950s, the poverty rate was approximately 22%, with just shy of 40 million Americans living in poverty. The rate declined steadily, reaching a low of 11.1% in 1973 and rising to a high of nearly 15% three times – in 1983, 1993 and 2011 – before hitting the all-time low of 10.5% in 2019.”

 

[Mac-7]

Why could we make things here and not be undercut on cost by other industrialized nations? Think about it.

What you mean is our workers make too much money

In lib thinking its better to ship those jobs to china and let Americans stock shelves at half the wages

And oh by the way maybe supplement their income with government handouts like food stamps

That does sound like a good policy to me

 

[Mac-7]

Post a link that shows the percentage of people living in poverty is going up. Should be easy with the “desruction of the middle class”.

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

 

[Independentthinker]

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.

No one is taking any money away from the 99% except for the Biden inflation.

 

[Hutch Starskey]

That’s a cool story too bad it’s just not true

U.S. Poverty Statistics and Facts (Updated for 2024)

Learn about how poverty affects different demographics in the United States by looking at the most recent statistics and data.

www.debt.org

“In the late 1950s, the poverty rate was approximately 22%, with just shy of 40 million Americans living in poverty. The rate declined steadily, reaching a low of 11.1% in 1973 and rising to a high of nearly 15% three times – in 1983, 1993 and 2011 – before hitting the all-time low of 10.5% in 2019.”

What does poverty have to do with my question?

 

[Couchpotato]

What does poverty have to do with my question?

Well if the middle class is disappearing and they aren’t becoming poor, where are they disappearing to?