"The most recent wealth report issued by Merrill Lynch and Capgemini concluded that the combined wealth of the nearly 11 million "high net worth" individuals increased by 17 percent in 2009 and 9.7 percent in 2010, reaching a total of $42.7 trillion. This sum is far higher than the combined state deficits of all the countries in Europe and North America whose people are being impoverished as a result of austerity programs."
Wow!
This vast, vast, unimaginable inequality of wealth of those in the global Empire, regardless of their nominal 'home country', suggests that the very definition of the term 'Sovereign Wealth' needs to be changed from that of a country's wealth to that of the global Empire citizens who happen to have one or more homes in said country!
I suppose I may be a bit naive in not having already come to this conclusion about what "Sovereign Wealth" really means --- because the extracted and accumulated private wealth of members of the global Empire that channels all the wealth up, would naturally be greater than the puny 'Commonwealth' of any so-called nation-state.
And the scale of this greed, excess, and arrogance of the global elite should really be no different in their 'empire-thinking' minds, than their inconsequential thoughts about which former nation-state most of their mansions are located in, or about which former country their corporate jet has most recently landed in.
So, the term 'public debt' is certainly correct in meaning the massive total public debt which has been dumped on the citizens of any of these passe and post-nation-state countries, which many of we naive and patriotic citizens still have our only house or cheap apartment and family in.
But for the ruling elite of this hidden global corporate/financial/militarist Empire, which has quietly taken control over most of what we used to call, and pledge allegiance to as 'countries', the term "Sovereign Wealth" has a more precise ring when we realize that the private empire is where all the wealth really is --- and that it also accurately reflects where the real "Sovereignty" (ie. power) resides today.
Let's commit ourselves for our own sakes and for our children's that we can confront, rebel, revolt, and successfully reverse this intolerable and unsustainable tragedy.
Best luck,
Alan MacDonald
Liberty & democracy
over
violent/"Vichy"
empire
New America People's party 2012 --- our last chance "Against Empire" [Michael Parenti]
