Tag Archives: Concentration of wealth

William Engdahl, *Gods of Money: Wall Street and the Death of the American Century*

Globalization and de-industrialization were the opening moves of the trap- privatization is the trap closing on our necks.  Of course the rest of the world has been experiencing all this for a long time; but we are no longer the minor beneficiaries of American Imperialism, we have become the next course in its move to devour the world.- Claudia

Find the book at: Amazon Review of: Gods of Money: Wall Street and the Death of the American Century (Paperback) by Reg Little

William Engdahl’s latest book is another awesome exploration and explanation of the boldness and failings of Anglo-American global strategy over most of the past century and a half. Engdahl recalls in his introduction a statement from the 1970’s attributed to then-Secretary of State Henry Kissinger, a protégé of the powerful Rockefeller circles, in which he declared, “If you control the oil, you control entire nations; if you control the food, you control the people; if you control the money, you control the entire world.”

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Wall Street’s Meltdown Increased Wealth Concentration

Average Americans today aren’t hurting because the economy has stopped generating wealth. Average Americans are hurting because the wealth the economy is generating continues to cascade disproportionately to the top.

Wall Street’s Meltdown and Wealth’s Maldistribution

By Sam Pizzigati April 27, 2010

The Great Recession, new research shows, has left wealth in the United States even more concentrated at America’s economic summit.

Average American households have been riding an economic roller coaster over the last quarter century. The stock market has boomed and collapsed. Housing has boomed and collapsed. The entire economy has boomed and collapsed.

Where has this wild ride left the typical American family? Back to square one. And then back some more. The typical American household, as of mid 2009, held less in real net worth — that’s assets minus debts, adjusted for inflation — than the typical U.S. household held back in 1983.

But the even bigger story may be the reason why. New York University economist Edward Wolff tells that story in a new analysis of the Federal Reserve’s latest household wealth data research just published by the Bard College Levy Economics Institute.

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Top 1%: Lower Tax Rate Than Their Secretaries

February 18, 2010   our future.org By Robert Borosage

Yes, there is a class war, Warren Buffett once said, and my class is winning. The IRS study of taxes paid in 2007 makes his point. The top 1% of taxpayers averaged about $138 million in income, and paid taxes at a rate of 16.6%.

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A Predatory System- The Health Insurance Monopoly

By DON MONKERUD                         Counterpunch

Like pathetic knights of another era jousting at windmills, industry shrills attack health care reform, claiming it “tramples individual liberty” and stifles “free enterprise.”

Far from protecting individual liberty or promoting free enterprise, these forces uphold monopoly control of health care insurance that has a stranglehold on American consumers. And they pay huge sums to control the debate and twist legislation to their advantage.

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Study Says World’s Stocks Controlled by Select Few

spider webCompanies from US, UK and Australia have the most concentrated financial power.

Aug 25, 2009 By Lauren Schenkman Inside Science News Service

WASHINGTON — A recent analysis of the 2007 financial markets of 48 countries has revealed that the world’s finances are in the hands of just a few mutual funds, banks, and corporations. This is the first clear picture of the global concentration of financial power, and point out the worldwide financial system’s vulnerability as it stood on the brink of the current economic crisis.