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.
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.
Posted in Economy Economics, Human Relationships, Neoliberalism, NWO, Obama and Company
Tagged Concentration of wealth, Debt, federal reserve, Manipulation, Middle-class, Peonization, Rigged system, Transfer of wealth
We’re all used to the partisan “Left/Right” convention that is used to factionalize and keep us from talking to each other. Diatribes full of hyperbole pass for political discourse, and listening has become a lost art. This is bad enough but one subject in particular gets shut out of the conversation when it is dominated by shock and awe: what about Freedom? Creeping authoritarianism is of greater concern to me than social policy, so it was of great interest when I came upon a sensible dialogue between two writers who approach issues differently but share more than we might expect. Their exchange follows below.
The urge to confront the 800-pound gorilla in the room (creeping government control) is a sub-text in much of what is written today. With the rise of so many technological tools that invade our privacy, read and record our communications, and provide access that any dictator would drool over- is it almost a no-brainer to assume they will be used against us. If we remain in our cheerleading sections busy despising each other, we’ll miss any opportunity to rein in or control the mechanisms of tyranny now being assembled.
With this in mind, COTO Report has set up this new page, Bridges, for cross-border dialogues. Here we will link specific bridge pieces posted at COTO Report, where full discussion across the political spectrum can be nurtured. The only rules are no ad hominem comments, and stick to the topic.
PS: stay tuned for how this all moves to the new “Bridges” page next to the Gum Wall!
Posted in Human Relationships, Human Rights Civil Liberties, MSM Shills, Obama and Company, Resistance
Tagged Constitution, Dialogue, freedom, Left-Right, Manipulation, Outrage, perception management, politics
Companies 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.