Wealth of America’s top 0.1% is about to exceed that of bottom 90%

We are facing the top 0.1% having as much as the bottom 90%.

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Every generation needs a new Revolution. — Thomas Jefferson

The top 10% having as much as the bottom 90% would be bad enough. The top 1% having as much as as the bottom 90% even worse. We are facing the top 0.1% having as much as the bottom 90%.

The wealth distribution is even more shocking if we compare the top 1% with the bottom 90% (look at the bars at the top of each graph).

Click on each graph to pull it up for closer scrutiny.

If monkeys are treated unfairly, one getting a greater reward than another they get very angry.

If children in a playground, one grabs all the toys, do we stand idly by? No, we intervene, we reprimand the greedy child, we redistribute the toys.

Why then do we stand idly by when the rich are so greedy? Why are there not riots in the streets?

The rich fear riots. More security guards employed in USA than High School teachers. London Mayor Boris has bought German water canon, but not (yet) got the authorisation to deploy.

Can we crowd fund a People’s Water Canon and use to defend the People’s Revolution?

With most things, we are satiated, we know when we have had enough. We eat a meal, we push the plate to one side when we have eaten our fill.

Money is the exception, we are never satiated, the more we have, the more we want.

When the Rachman Benyon Brothers bought the New Era Estate in Hoxton, an estate built in the 1930s to provide affordable housing, their first act was to jack up the rents. Ninety two families are facing eviction, as they will not be able to afford to pay the new rents, more in some cases than their salary.

Austerity is not working, but then it was never intended to work. It was an excuse for Shock Doctrine, slash and burn of public services, cuts to benefits, closure of public libraries, privatisation of the health service, bedroom tax. It is all part of the transfer of wealth from the poor to the rich.

Speaking to the CBI, David Cameron has promised more austerity, more cuts. His clones, Nick Clegg and Ed Miliband have promised more of the same, whatever the Tories cut, they can cut better.

Only the Green Party are offering a genuine alternative, which is why they are barred from any discussion. Austerity is not inevitable, there are alternatives, but is is edited out of existence by the mainstream political-media establishment.

Where was Ed Miliband when activists occupied Parliament Square in solidarity with activists on the streets of Hong Kong?

The fastest growing party in Spain is Podemos, they have grown out of Occupy, they are grass roots, anti-austerity, unlike the main parties, they are not owned by Big Businesses.

In the US, whoever wins an election, is whoever spends the most money.

Why bother with an election, why not let accountants declare the winner?

And yet, if we look at USA, beyond the midterm elections, at what other measures people voted for, they voted for anti-austerity measures, measures to benefit the environment, measures to benefit people.

When Barack Obama rode into town on a wave of popularity, it was followed by six wasted years. The banks were broke, the car companies were broke. Instead of bailing them out with public money, they should have been broken up, public-controlled companies put in their place, companies that were fulfilling a useful purpose. Instead public money was thrown at them and it was business as usual.

Growth has flat lined for years, real wages have flat lined for years. A magnifying glass is taken out to magnify statistical noise and claim, we have growth. Statistical noise on wages, claimed to be a growth in wages. But who does it include, exclude the bankers, greedy property developers, and average wages are not increasing.

Jobs are increasing, but not well paid, skilled jobs, jobs you can take a pride in. The jobs that are increasing are the part-time, temporary, de-skilled, zero-hours McJobs. Jobs that rob the soul.

We are told we are all in it together.

Are we all in it together when Environment Secretary Eric Pickles spends (or to be correct we spend on his behalf) £500,000 on new limousines in three years?

Eighty five people, the richest on the planet, who could easily fit in a double-decker bus, have as much wealth as the poorest half of humanity.

Public intervention is heretical, the free market must reign, unless it is transferring public money to the banks, then the dogma, public bad private good, the arbitary, set in stone, there is no alternative, can be broken.

And yet we do have rules, we do have public intervention. We have international trade rules, international trade treaties, for example NAFTA, overseen by WTO, which transfers power from the public sector to the private sector, from sovereign governments to global corporations.

Currently TTIP, which will result in a massive transfer of power from sovereign governments to global corporations is being negotiated in secret.

Apart from it being unfair, transference of wealth from the poor to the rich, it is also trashing the planet rendering it uninhabitable.

Which brings me back to my original question, why do we tolerate it, why is there not revolution?

Also posted on Medium.

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