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

Fraud: Facial Recognition Technology With 2,400 Picture Comparisons Shows Sister Lucy I (Pre-1958) and Sister Lucy II (Post-1958) are Definitely NOT the Same Person.

Patience! Sister Lucy Truth Investigation Barrels Forward. New Experts Added to Team With New Information. Facial Recognition and Forensic Report Coming Soon.

It's Romanitas! Duh! Michael Matt Just Needs to Settle Down. Where did you Expect the last two Superior Generals of the SSPX (1982-2018) to be sent? Zimbabwe?

SSPX Defines Itself with Archbishop Lefebvre's 1974 Declaration "Which the Society embraces in its Entirety." Is the Lefebvre Ram back in the Pen and has the Reb[r]anded Wether Been Sent to the Butcher?

St. Robert Bellarmine Waits for the Remnant to Renounce Writer Who Wrote that Cardinals can Depose and Remove a Pope. I don't think that it is mere coincidence that St. Robert Bellermine's Feast Day is May 13th!

In 2009 Interview, Fr. Florian Abrahamowicz Singles out New SSPX Superior as Priest who was "Vehemently Opposed" to Deal with the Conciliar Church. Rejected Idea of Converting Modernists "From Within."

Is this Why they Needed to Get Rid of Sister Lucy and Substitute an Impostor? I wonder what "False Church" Padre Pio was speaking about in 1960? Can't Imagine.

Mama Mia! Mike it's "RAD TRAD THOMIST" Hear Michael Matt Attack RadTrad Thomist and set up a Straw Man Argument in Order to Hide the Fact that the Remnant has sent Authors emails saying that Anyone who Writes for Louie Verrecchio Is BANNED from Writing in the Remnant.