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Archive for November 13th, 2017

Wealth inequality has grown since the Great Recession, according to a new report by the Pew Research Center. This inequality is at a level never seen before in the history of the United States, and it has been fueled by unprecedented income redistribution from the 99 to the 1 percent. Wealth and income inequalities have been created by a level of US political corruption not seen since the Gilded Age; and led by such political hacks as Wall Street Senator Ron Wyden and Wall Street Congressman Paul Ryan.

It is only natural that wealth for the rich has grown since they have stolen via their political hacks 99 percent of all income growth from 2009 to 2014 and the vast majority of income growth since then. However, not willing to anger their corporate donors, the higher-ups at Pew are unwilling to disclose why the rich have acquired more wealth while the rest of us have lagged.

As the next recession unfolds, and it is unfolding, it is likely to be much worse in many ways than the Great Recession simply because the demand for goods and services on the part of the 99 percent has to a large degree been redistributed to the 1 percent since the last recession.

For more information see Federal Reserve’s Survey of Consumer Finances

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