Since there are always cynics and deniers, here are some more stats . Actually the accompanying article has up to 62 charts. What is the point of all this? Well if 1% of the population owns 40% of the wealth of the nation, that does not bode well for our future. As population grows the economy must also grow to keep those working employed and creat employment for new workers. This requires a high level of consumption (people buying stuff ). As the majority of the people have a decreasing level of income, and they max out their credit, they buy less and a spiral begins of decreasing income on the bottom 99% which shrinks the economic pie. So we are already back to the wealth distribution of the gilded age (1890s to 1920s ). Out of. 82 Trillion dollars of private wealth in 2013 in the us 3 million people owned nearly. 36 Trillion of it. About another. 28 million owned the next 30 Trillion . That left about 16 trillion for 270 Million Americans. Well that 270 million are what account for almost all the consumption in the country. Yet here is where the wealth keeps decreasing non stop straight down since the 1980s. Formula for disaster yet economic and political/economic policy has continued to benefit this group for 30 years under both Republican and Democratic Presidents and Congress. This article claims we reached the tipping point where no amount of legislative action to change economic policy will suffice to turn it around. Starting very soon , less than. 10 years , the complacent American middle class is going to be shocked , when they lose jobs , benefits , retirement investments plummet , home equity disappears and credit is taken away. They will be forced to go to the welfare lines , except there wont be any welfare. Read please. The Ostrich Complex is going to kill us . While our heads are in the sand the lion is charging straight at us.
Posted on: Sun, 24 Aug 2014 04:02:44 +0000
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