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Don midwest
Don midwest

US place to be if you are in the top 10% . 1% = 31%, 2-10% = 39% thus top 10% holds 70% of the wealth.

Let’s dig a bit deeper: The top decile of America holds almost about 70% of the national wealth — 31% is held by the top 1%, while the rest of the top 10% holds about 39%.

And the bottom half’s share? About 1.3%.

Although the wealthy own most of the assets, the less well-off hold a disproportionate share of the liabilities. The top 10% have a relatively modest amount of debt ($633 billion for the top 1%, and the rest of the top 10% has $2.8 trillion). Meanwhile, the bottom 50% has $5.6 trillion in liabilities; the group between the top decile and the bottom half has more than $6 trillion in liabilities. In other words, the bottom 90% has total liabilities of almost $12 trillion.

The conclusion here is that the wealthy own most of the assets, while the less wealthy are stuck with most of the liabilities. Construct the cleverest campaign slogan out of this and you just might become the Democratic nominee for president.

New Inequality Numbers Are a Gift to Campaign Sloganeers
The Fed developed a data set that throws wealth disparities into high relief.

Solution to this problem is to stop collecting and reporting these numbers would be a line for Trump

polarbear4

Don midwest
Don midwest

Michael Hudson, the economist on US Economic Warfare (on the world)

Existential threats he states
1. military involvement around the world
2. climate

how to make the world safe for neo liberal econ but it is destroying the earth and humans

U.S. ideologues view their nation’s coercive military expansion and political subversion and neoliberal economic policy of privatization and financialization as an irreversible victory signaling the End of History. To the rest of the world it is a threat to human survival.

how is it going to work out?

The American promise is that the victory of neoliberalism is the End of History, offering prosperity to the entire world. But beneath the rhetoric of free choice and free markets is the reality of corruption, subversion, coercion, debt peonage and neofeudalism. The reality is the creation and subsidy of polarized economies bifurcated between a privileged rentier class and its clients, their debtors and renters. America is to be permitted to monopolize trade in oil and food grains, and high-technology rent-yielding monopolies, living off its dependent customers. Unlike medieval serfdom, people subject to this End of History scenario can choose to live wherever they want. But wherever they live, they must take on a lifetime of debt to obtain access to a home of their own, and rely on U.S.-sponsored control of their basic needs, money and credit by adhering to U.S. financial planning of their economies. This dystopian scenario confirms Rosa Luxemburg’s recognition that the ultimate choice facing nations in today’s world is between socialism and barbarism

a reasonably long article worth reading as a reminder about THE SECOND NATURE, the economy, which is going to collapse and the supports holding it up through politics are going to be forced into a major retrenchment

funny that I used the word which contains “trench”. Listening to a Great Courses on WW I which had trench warfare leading to deaths of millions. Life in the trenches for many was mud, disease, filth — which is on course to be the fate of the earth.

Michael Hudson: U.S. Economic Warfare and Likely Foreign Defenses

Don midwest
Don midwest

I think it’s safe to say that of all the people in the world who know what a Nazi is, the Germans are at the top of the list. https://t.co/sgPuQZNsa9

— Thom Hartmann (@Thom_Hartmann) July 21, 2019

polarbear4

???? hope he finds his way home.

WindDancer13

Still trying to figure out what is up with the CBC or why Obama’s presidency didn’t help the vast majority of Blacks?

https://www.youtube.com/watch?v=OcJqjgB4tyQ

Don midwest
Don midwest

what Obama did

The real policy for which Obama will be known is not Obamacare, but bailing out the banks in 2008, helping the world realize that liberal democratic rhetoric was an ornamental cover for a system of concentrated financial & political power. @matthewstoller https://t.co/k0kNcyxwah

— ProMarket (@ProMarket_org) July 21, 2019

here is the article by Matt Stoller – Obama bailed out the banks and trashed the rest of us. He should have let them fail and broken them up

“:And so, the real policy for which Obama will be known is not Obamacare or Dodd-Frank, but bailing out the banks and stabilizing the financial system, presiding over a foreclosure wave, arranging an informal policy of amnesty for white-collar misdeeds, and engaging in lax antitrust enforcement, thus fomenting a massive merger wave. These policies were endorsed by Democrats in Congress and Democratic voters. They were done in good faith, but broke the End of History framework.

Everyone in the world, including leaders in China and citizens in every neighborhood in the United States, could now see that finance was highly political and that liberal democratic rhetoric was really an ornamental cover for a system of concentrated financial and political power. Over the course of the next few years, Tea Party Republicans, Occupy Wall Street, Black Lives Matter, and a host of movements all over the world displayed anger at what they perceived as an unjust system. And Chinese elites, as part of a strong authoritarian central government, learned to doubt the superiority of the Western model of governance, becoming far more assertive. So did big tech companies who, in a permissive legal environment, orchestrated a giant merger wave reminiscent of the one that created US Steel in the late 1890s.

Still, by the end of the Obama administration, it seemed as if the crisis has been handled. Big companies like Google and Facebook, gay-friendly bastions of idealistic progressives, were running the world, and the Hillary Clinton administration, likely with Treasury or Commerce Secretary Sheryl Sandberg, was ready to take over and continue the good work of the Obama era.”

https://promarket.org/how-antimonopoly-was-revitalized-part-2-barack-obama-and-the-end-of-the-end-of-history/

WindDancer13

The video I posted does not deal with the end results or effects of the CBC or Obama’s policies so much as the why’s behind their thinking and actions. I think the effects of Obama’s presidency or the CBC’s silence can be readily seen by those who have their eyes open, but understanding the why is equally if not more important.

polarbear4

polarbear4

polarbear4

btw, Anyone else getting logged off a lot, lately?

Tyrannocaster

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