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Tag Archives: rich

Today’s crony economy is killing the middle class

The only people who have seen their real incomes increase under this president have been the top 5% of earners. Those with large investment portfolios have seen their assets grow – or perhaps more accurately, have watched them inflate –  while most of America has seen its income reduced over the last 5 years. Adjusted for inflation the average household in America makes less than 2008. Quite a bit less.

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Crony Capitalists at GM, Chrysler, fat and happy while Detroit starves

My bet is that within 15 years the American car manufacturers will mess things up again, but for right now they are bailout plump. The city which grew up around the big 3 is in a nearly post-apocalyptic state however. Miles and miles and miles of rust spread out from the city center where GM and Chrysler executives look down from their offices.

That is when they aren’t touring the new manufacturing facilities in China.

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“The rich have the Federal Reserve, and you have Harry Reid.”

Obama has expanded the crony capitalist state. Like his brother in cronyism George W. Bush, Obama has made every effort to help the connected get more connected and the wealthy wealthier. As the attached article explains, if one is heavily invested in the market, if one is a banker at one of the big banks, things are going pretty well. If one is not in that camp things are likely going significantly less well.

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