Saturday, August 29, 2015

Billionaire Sees Handwriting on Wall

The world’s Stock Market is taking big hits, which kills 401Ks usually owned by the little people and pension plans. One of the main reasons for this is the inequality on the part of the spenders of the capitalist system, which we and most of the world use. The capitalist system we us is where the profits from corporations go to just a few people at the top while none goes to the wage slaves who make the profits in the first place. The few at the top take their profits and hide them overseas or loan the profits to the toilers, who then have to pay top interest rates on the loans, which means more money out of the pockets out of the toilers need to just survive. The problem is the toilers are out of money to pay back the loans and this is what is going to kill the capitalist system worldwide, and the top 1 percent know this or should. The way out of this is 1) Raise the minimum wage to $15 to $24 an hour; and 2) have workers on corporation boards, with votes on how profits are spent and who will receive the profits, i.e. bonuses. The pollution of inequality is in cities and whole countries, no place is exempt. If this inequality is not addressed there will be wage slaves in the streets with pitch forks. In an article for Politico, billionaire Nick Hanauer said he’s always been able to see “over the horizon a little faster than the next guy,” which is a strategic part of his success as an entrepreneur and venture capitalist. Writing to his fellow 1 percenters, Hanauer wrote, “At the same time that people like you and me are thriving beyond the dreams of any plutocrats in history, the rest of the country—the 99.99 percent—is lagging far behind. The divide between the haves and have-nots is getting worse really, really fast. In 1980, the top 1 percent controlled about 8 percent of U.S. national income. The bottom 50 percent shared about 18 percent. Today, the top 1 percent share about 20 percent; the bottom 50 percent, just 12 percent. “But the problem isn’t that we have inequality. Some inequality is intrinsic to any high-functioning capitalist economy. The problem is that inequality is at historically high levels and getting worse every day. Our country is rapidly becoming less a capitalist society and more a feudal society. Unless our policies change dramatically, the middle class will disappear, and we will be back to late 18th-century France. Before the revolution. “And so I have a message for my fellow filthy rich, for all of us who live in our gated bubble worlds: Wake up, people. It won’t last. “If we don’t do something to fix the glaring inequities in this economy, the pitchforks are going to come for us. No society can sustain this kind of rising inequality. In fact, there is no example in human history where wealth accumulated like this and the pitchforks didn’t eventually come out. You show me a highly unequal society, and I will show you a police state. Or an uprising. There are no counterexamples. None. It’s not if, it’s when.” Read his whole article at: