The Oxfam study emphasized a point that has been making for sometime: the tale of two economies. The rich are getter enormously more wealthy, as the rest of the worlds inhabitants become poorer due to wealth redistribution to the top 1%: The report also said that while the recent financial crisis was an enormous burden on the world’s poor, it ended up being a huge benefit to the rich elite. The very wealthiest people on Earth collected 95 percent of the post-crisis growth, the report said. The report said that the trend is more pronounced in the United States than in other nations, but hardly limited to the U.S. It said that in only two countries, Colombia and the Netherlands, had the share of income received by the wealthiest 1 percent not increased between 1980 and 2012. American Exceptionalism is now pretty much limited to it being a great engine to pump more money into the hands of a small sub-section of the 1% at the expense of the rest of the US and world population. Democracy depends upon a well-informed public, but that is impossible when so much wealth in so few hands controls the disseminator of information about public policy: the media.
Posted on: Fri, 24 Jan 2014 23:43:07 +0000
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