A Banana Republic?

Let’s look at signs to see if America is turning into a Banana Republic? No not the store. Back a few decades ago a Banana Republic used to stand for a country where a rich oligarchy ruled through a kleptocratic government.

  • The wealthy investor class cheer as stock indexes reach or close near New highs for the year while as our employment rate flounders close to 10%
  • The real disaster for working class Americans is the not only the 9.8% unemployment rate, but the depth and breath of the employment picture

Employment_RecessionsAligned_Nov

  • Globalization & a oligarchy driven media hatred for lower  working class Americans who struggle to survive, both costing  job loss and salary cuts.
  • A US stock markets whose trades are NOT based on a companies valuation, but Trades made by the oligarchy based on finding market discrepancies (arbitrage) These oligarchs (BB/HFT and hedge funds) have only a 15% tax rate for managing their wealth
  • We have a country that values REAL WORK less than an oligarchy of managed wealth because we tax workers far more than those who make money off the wealth. (15%)
  • A country that doesn’t punish those responsible or fixes the financial fraud that causes  the worst worldwide recession since the great depression.
  • Politicians who are elected with the oligarchs money voting to extend tax cut to the wealthy that if given to the working class would = a $500 per family.
  • Politicians who are elected with the oligarchs money voting to extend tax cut to the wealthy that would triple the amount we spend on medial research. [For entire list LINK to NYT here]

Somehow my best read of the tea leaves is all that wealth is NOT trickling down to working class Americans.

“Trickle down” was a term first used by the President Reagan and later called “Voodoo Economics” by Bush Sr..  Is the wealth tricking down or are American politicians  simply recognizing that they get elected by the massive amount of media ownership and political contributions of our wealthy oligarchy?

Barr

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