It’s from 2012 but it’s very good, and interactive.
If you live in a wealthy part of the country it is very likely that you are represented in Congress by a Democrat. Often a very “liberal” Democrat. Why is this?
The great disconnect continues. Those who are tapped into the (crony) financialized system have seen their stocks and bonds do well as the market has ridden a Federal Reserve created bubble. Those who do not have assets, or only real estate assets, (unless they have nice arable farmland) have fallen behind. It’s a case of the rich getting richer and the poor getting poorer, but the situation has been exacerbated by the central bank experiments of the last 6 years.
Look, at a net worth of $100 million the Clintons are not wealthy, they are legitimately rich. They are not the 1%, they are the 1% of the 1%. And surprise surprise, despite all the “have and have not” nonsense coming from Madam Clinton as of late, the Clintons intend on remaining in the 1% of the 1%.
Funny thing about those who rise on the shoulders of the proletariat. They always seem to enjoy being rich. Why is that?
It is interesting to hear (some) people praise Mr. Bernanke for having “saved” the United States and the world from Great Depression II. This praise is misplaced to say the least.
Senators are paid well, but they have significant expenses too. How Harry Reid has become such a rich man while in the Senate is a question worth exploring. The Washington Times is poking around..
There is some serious simple wisdom in the attached article.
Good report. Our system of crony capitalism has cut many people out of upward mobility, or at least made it much harder to get ahead. In our current system the established players compound their wealth with the help of the state.
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.
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.
In an earlier post we mentioned how Washington DC has thrown in with Wall Street. And why not? That’s where the money is, where it continues to flow, and through our current system of crony capitalism will continue to flow until people say “enough.”