wealth inequality youtube video screenshot
Before you read this article, I implore you to watch a short film on wealth disparity. It's at http://youtu.be/QPKKQnijnsM if the below viewer doesn't work. This is without a doubt the very best SHORT film EVER produced on this vital subject. If, after watching this film, your flesh does not crawl, then you're already dead. There is thus no need for you to read the rest of this article.
Here are the facts. 1% of the people in the U.S. own 40% of the nation's assets, such assets being $54 trillion. This means a mere 3 million people own almost half of the nation's wealth. Who are these 3 million people, the "1-Percenters"? What are their names? Don't the other 308 million people in America deserve to know who these people are and even where THEY LIVE?(1) Here's why they do. Most of these 1-Percenters have preempted the nation's wealth as a result of predatory, unethical and often times illegal business practices, what Bill Clinton euphemistically apologizes for as "unjust enrichment."
Let's take a look at the primary ways this "unjust enrichment" happens, mostly assisted by Wall Street and the New York-based banking system as they run rough-shod over the U.S. Constitution. Many fear that unless this unjust enrichment, and the attendant wealth inequality, are brought to the more equitable wealth distribution mentioned in the film, we can expect another French Revolution.
For those of you who are history-challenged, too young or just interested in partying, the French Revolution was the time when the starving masses, in 1789, rounded up their 1 Percenters and chopped off their heads, including the head of Queen Marie-Antoinette, who is reported to have said: "Let them eat cake if they are out of bread."
Wickipedia describes the French Revolution as follows:
"Amidst a fiscal crisis, the common people of France were increasingly angered by the incompetency of King Louis XVI and the continued indifference and decadence of the aristocracy. The revolution was sparked by France's effective bankruptcy due to the enormous cost of previous wars. . . the royal court at Versailles was seen as being isolated from, and indifferent to, the hardships of the lower classes. . . . aspirations, given focus by the rise of Enlightenment ideals, included peasant resentment of royal absolutism; and privileges possessed by the nobility; hatred of Queen Marie-Antoinette, who was falsely accused of being a spendthrift . . ."
Does any of this sound familiar? In today's wealth-disparity, establishment historians and spin doctors will endlessly argue the causes and issues -- but does it matter? When millions are below poverty and only 3 million people own $22 trillion of the nation's assets -- out comes the guillotine sooner or later.
The long-term economy of the U.S. is now so bad, the current generation has a lower standard of living than its parents. Most of us have been going backwards economically since at least 1971. The bottom 40% of Americans hardly have ANY wealth whereas the top 20% have 83% of the wealth. Chances are if you live to 85, you won't leave any inheritance to your children: you will leave them with debt.