Main Street conservatives need to wake up to the fact that the Republican politicians do not fight for you. They fight for Wall Street and Big Corporations who throw your neighbors onto the street.
Wall Street has a plan to make working class Americans, whether you’re liberal, conservative, Democrat or Republican, economically irrelevant. The point is, if you’re working class, Wall Street doesn’t need you or better yet DOESN’T WANT YOU and neither does Corporate America.
I have laid out some of the information from CITIGROUP’S equity strategy memo, re-visiting Plutonomy, the rich getting richer.
You remember CITIGROUP? The working class bailed them out, right?
I HOPE EVERYONE CAUGHT THAT LAST WORD!
In a plutonomy there is no such animal as“the U.S. consumer” or“the UK consumer”, or indeed the “Russian consumer”
There are rich consumers, few in number, but disproportionate in the gigantic slice of income and consumption they take.
There are the rest, the“non-rich”, the multitudinous many, but only accounting for surprisingly small bites of the national pie.”
No such animal? Not needed? We are being cast aside by the Wall St. elites and the corporations.
“focus on the“average” consumer are flawed from the start. It is easy to drown in a lake with an average depth of 4 feet, if one steps into its deeper extremes.”
These Aristocrats are who the GOP is siding with, not you, not me. Just the people who are the very wealthy.
To continue with the U.S., the top 1% of households also account for 33% of net worth, greater than the bottom 90% of households put together. It gets better (or worse, depending on your political stripe)
– the top 1% of households account for 40% of financial net worth, more than the bottom 95% of households put together.
This is data for 2000, from the Survey of Consumer Finances (and adjusted by academic Edward Wolff)
If the American working class continues to buy into the GOP rhetoric of tax breaks for the wealthy, this aristocratic future is just around the corner. The GOP has repeatedly told us, don’t tax the wealthy, they are the ones who create the jobs.
It is the tax breaks that are making this ARISTOCRACY possible, they are keeping most of their money. They believe that once they control the wealth, they will control the economy and thus YOU, the working class of America, are no longer needed.
They will outsource your jobs, whether you are blue collar or white collar. They will not sell you stuff because economic demand will be concentrated into the hands of the top 2%.
We will become a third world country, like Mexico in no time.