Time to Trade in Your Jag, Benz, BMW for a Dented Econobox: Days of Rage Are Coming
The
resistance will take the form of subverting the signifiers of wealth
that exemplify the few who have benefited so greatly while everyone else
lost ground.
It's time to trade in your Jag, Mercedes, BMW (and maybe your Prius, Volvo, Lexus, etc.) before the Days of Rage start. As I've explained before ( As the "Prosperity" Tide Recedes, the Ugly Reality of Wealth Inequality Is Exposed),
the rage of the masses who have been losing ground while the Financier
Oligarchs, the New Nobility and the technocrat class reap immense gains
for decades has been suppressed by the dream that they too could join
the Upper Caste.
But once the realistic odds of that happening (low) sink in, the Days of Rage will begin. For those still who don't know the facts of rising inequality, here's what you need to know.
The top 1% skim 23% of all income:
While
the top 5% has enjoyed substantial income gains over the past 45 years,
adjusted for inflation, the bottom 90% have lost ground:
The last time there was mass unrest in America was the civil rights/Vietnam War era. The power of the civil rights movement arose from the core injustice of segregation (separate and unequal)
and institutionalized racism/bias. This institutionalized injustice
drew people from all classes and ethnicities into the streets, where
they were promptly beaten by police.
Anyone
reviewing the data is likely to conclude that there must be some
mistake. It doesn't seem possible that one out of twenty American
families could each have made a million dollars since Obama became
President, while the average American family's net worth has barely
recovered. But the evidence comes from numerous reputable sources.
