Capitalism in America
by Jon Hellevig for The Saker Blog
There is no hiding anymore, the United States has become an oligarch owned banana republic with nukes, and with a monopoly currency which has allowed it to rig the markets for half a century. But now we are only a couple of hours from curtain – Midnight in America.
With the stock market at all-time highs, virtually no unemployment (or so they say), and brisk GDP growth (supposedly) in the last decade, economic analysts would declare that the US economy is in excellent shape. But, it isn’t. The stock market is a central bank inflated asset bubble, and what GDP growth there has been, is an illusion brought about by the very same financial bubble and by pumping the economy up with record federal borrowings to finance the deficits that America cannot afford. Rigged statistics showing artificially low inflation serve to hold together the Trumped-up American economic narrative. (About the rigged inflation statistics, see this report https://www.awaragroup.
com/blog/the-inflation- measurement-scam/?fbclid= IwAR0qmpe4i0sp5Uce9UlyEDt0_ NkIv-aiDTSgvzHh5EMfZn5WQboZz_ mB-XU.
And the low unemployment figure is nothing but a chimera based on misleading statistics.
In reality, the US economy is failing – and the country with it. At least two-thirds of the population has seen dramatic declines in living standards and half are back to levels of developing nations – without the development.
The big story covered up by all the happy macroeconomic figures repeated by rote by the US establishment – everybody from the president to cable television pundits and Trump fanboys – is the gradual impoverishment of the American worker. That’s an inconvenient truth increasingly difficult to hide as the American dream has turned into a nightmare for huge swathes of the population. As the figures we present below show, the rich are really getting richer, the middle class has been decimated, and half of Americans are poor and destitute of any financial wealth. The super-rich are gobbling up an ever-increasing slice of the American pie at the cost of all the rest who get nothing but table scraps on one side and leftover crumbs on the other, if anything. The resulting stratification of society has brought back a medieval servant economy, where the have-nots are doing odd jobs, cleaning houses, fetching groceries, running errands and deliveries for the feudal rich and the remaining shrinking middle class.
Thanks to the Fed (the American oligarch owned central bank) pushing easy money into the hands of the privileged elite, the super-rich Dismal Decimal – the top 0.1% – have by now amassed as much wealth as they had just before the Great Depression that started with the stock market crash in 1929. A lesson not learned. Back to square one. How will it end this time?
This article is based on an Awara Accounting https://www.
awaragroup.com/ study titled “Widening Income and Wealth Gap and Stagnating Wages in America.” https://www. awaragroup.com/blog/widening- income-and-wealth-gap-and- stagnating-wages-in-america/ L inks and source references to all the facts presented here can be found in said study.
BTW all the data in this report is derived from official US government sources and American experts analyzing them.
During the last decades, the financial rewards from the rigged markets first flew exclusively into the pockets of Top 10%, but later it was increasingly Top 1%, which pocketed most, perfectly illustrated by below charts. MORE