Bernanke Redistributes Income Upwards: The Impoverishment of Middle America


Unemployment is rising, wages are falling and credit is contracting. In other words, the system is working exactly as designed. All the money is flowing upwards to the gangsters at the top. Here’s an excerpt from a recent Don Monkerud article that sums it all up:

“During eight years of the Bush Administration, the 400 richest Americans, who now own more than the bottom 150 million Americans, increased their net worth by $700 billion. In 2005, the top one percent claimed 22 percent of the national income, while the top ten percent took half of the total income, the largest share since 1928

Over 40 percent of GNP comes from Fortune 500 companies. According to the World Institute for Development Economics Research, the 500 largest conglomerates in the U.S. “control over two-thirds of the business resources, employ two-thirds of the industrial workers, account for 60 percent of the sales, and collect over 70 percent of the profits.”

… In 1955, IRS records indicated the 400 richest people in the country were worth an average $12.6 million, adjusted for inflation. In 2006, the 400 richest increased their average to $263 million, representing an epochal shift of wealth upward in the U.S.” “Wealth Inequality destroys US Ideals”

[Here we see an economy moving in the opposite direction from the one the Distributists would understand to be desireable. Belloc always defined capitalism as "a small handful of men owning most of the productive wealth."]

Comments

Popular Posts

Exactly 60 Years Since the Death of Pope Pius XII. The More Time Passes the More It Seems as if EVERYTHING happened in October of 1958. The Death of Pope Pius XII, Fear on the Part of the US Government Of the Election of a traditional Pope, the TWO Occasions of White Smoke ---- October 26th and 28th, and the Disappearance of Sister Lucy.

Criminal Case: Sister Lucy Truth Facial Recognition Report Soon to be Released, Dossier of Medical Experts, Handwriting Analysis Planned, New State of the Art Website to Display Results, and Cyber Security Experts to Protect information.

Stranger Things: The Unusual Friends of Giovanni Battista Montini --- Isn't it Strange to think that if we did half of what these post-Vatican II popes did, we would ALMOST CERTAINLY GO TO HELL .....No wonder "Sister Lucy" had to be Cut and Pasted into Photos with him in 1967. Read Below Selections from Randy Engels' Article, "Paul VI and the Church's Paradigm Shift on Homosexuality."

There WAS an Imposter. On the Day of the Miracle of the Sun, We Publish Our First of Many Expert Reports. A Plastic Surgeon's Judgment on the Case of the Two Sister Lucys.

The Secret that Made the Messenger a Refugee and Undesirable. Melanie Calvat's Life of Contradiction and the Message of Punishment and Warning for the World. On this September 19th, Let Us Not Forget the Sorrowful Lady who Spoke of Our Time and of the Time to Come. She told Us "Rome Will Lose the Faith." It has.

Exclusive: New Introduction to Fr. Paul Kramer's Renamed Book, "To Deceive the Elect" Presents the Most Explicit Argument I have Seen on the Question of the Legitimacy of Francis. Presents First-Hand Account of Fr. Nicholas Gruner's Rejection of the Legitimacy of Francis' Papacy.

Found Out! Brian McCall Fired as Dean at Law School For Articulating Common-Sense in the Secular Realm. Welcome, Brian to the Other Side of the Tracks --- Sort of.

Fr. James McLucas, formerly of Christendom College and The Latin Mass Magazine, Indicted by Pennsylvania Grand Jury on Allegations of Sexual Abuse of Children.