“The wealthiest 5 percent of American households held 54 percent of all wealth reported in the 1989 survey. Their share rose to 61 percent in 2010 and reached 63 percent in 2013;
“The lower half of households by wealth, held just 3 percent of wealth in 1989 and only 1 percent in 2013. To put that in perspective…the average net worth of the lower half of the distribution, representing 62 million households, was $11,000 in 2013.”
We have been hearing a lot of worrisome talk lately about the growing financial inequality of Americans these days. Should it be a worry as we are being led to believe? What’s the problem with society rewarding the brightest and hard working members of society with financial rewards – Are we all not free and willing subjects in the Darwinian experiment of survival of the fittest in a capitalistic society? Plus, some of these high achievers are even empathetic philanthropists.
So what’s the big problem.?
The problem today is that democracy in a free market capitalistic society only exists in the imaginations of sleep-walking dreamers in the American Dream. The American Dream of honest hard work being rewarded has become a myth and a mind-numbing narcotic that is now just beginning to wear off in the minds of some Americans.
While we Americans were working and playing hard, our representational democracy has evolved into a political system that has been completely and utterly bought by the rich and is now merely a protection racket for their accumulations and advantageous position. We live in a land where untaxed off-shored wealth is legal, in fact, the whole tax system has been customized to suit their personal needs.
We live in a fictitious land where multi-national corporations are legally given Frankenstein-like life as a red-blooded Americans, and their money is legally deemed their vocal chords. Politicians, while posturing that they are working for “the people”, are nothing but lobbyists for the rich, which most of them are, or assured to be upon leaving office to be rewarded with speaking fees, or think tank positions by their benefactors.
This unreal, and unfair dream land that we inhabit is kept alive by obscuring smoke and the brightly lit mirrors of the mass media that is completely controlled by a few corporations. Combined with false happy face statistics provided by the government we have been lulled into a narcotic dream, that is both numbing and dumbing. To realize there is even a problem, attention spans must be able to concentrate for longer than a 30 second advertisement.
Reality is never stagnant, and the hard rock reality of the great American experiment is being felt by most everyone with a head on their shoulders and a wallet or purse. The financial system, or racket, is run by the un-Federal Reserve Banks. The privately owned US Central Bank gives money which they make out of thin air called credit, to the boys who run the big banks for less than .25%. As the statistics reveal, this money never goes far from the hands of the rich. Their fingers grasp this money so tightly that the trickle, is now a mere tiny dribble that seeps out to those below.
Unbeknownst to most Americans, the US dollar has become play money, because it’s a fiat money con-game built solely on confidence and the the illusion of American exceptionalism. This confidence in America, as a moral force for good has been destroyed by it’s self-serving hypocrisy, it’s policy of torture, the poor performance of it’s political drama queens, and endless wars without end. This is no longer a time like the end of WW11, where the US was the dominant military power. That power is now shared with other nuclear armed nations. No longer can the US declare an economic embargo that brings countries to their knees, especially since the US itself is up to it’s myopic third eye in debt.
So what is the big problem. I believe the problem that we will be facing soon enough, is not the economic imbalance of the rich and poor in this country This unequal lopsidedness can be maintained for many years, especially with a militarize police force. The real problem is those pesky foreigners like Russia and China and the rest of the BRICS. When they decide that they have had enough of our self-serving antics, and renounce the US dollar as the world currency, then folks, that’s when we got a problem.
Until then, no problem, since most members of our society can’t even remember what the problem is.