Tuesday, March 24, 2015

Avg. American household is WORSE off than in 1983

Everywhere Rich getting richer & Poor keeps getting poorer. Inequality keeps increasing. A tiny portion of the population (in a country & in the world) keeps increasing its wealth w/o regard to any thoughts of how the majority will survive. This sense of entitlement of money will further increase the wealth gap between rich & poor, up to a point, when the majority poor will violently take over the reins of the financial, political, & judicial systems, which in turn, can mean bad times for the rich.
 
This economic injustice & social inequality is already causing lots of rift & chaos in European societies (austerity measures & unemployment giving rise to far-right political parties, which in turn, giving rise of hatred & discrimination in the society for minorities; religious, ethnic, racial etc.). Greece is threatening to exit EU, & we all have seen the protests in Athens, Madrid, Rome, & of course, who can forget the worldwide occupy movements.
 
Governments already angling to quell that chaos & before a large section of the society take up arms against the elites, by bringing in "anti-terror" legislation, in which, the definition of word "terrorist" has been deliberately kept vague, so anybody rises up against the elites of the society will be swiftly put down.
 
Be it international or domestic terrorism, one of the primary reasons is not any religion or power grab. The primary reason is this social inequality. ISIS keeps increasing in numbers because youth unemployment is so high all over Europe & North America. Youths are not seeing a bright future in front of them. They are burdened with education debts & no future with good, secure, permanent employment. On an international scale, whole continents like Africa are still largely undeveloped & have bleak futures.
 
This hoarding of wealth by a small minority of the world also causing some worldwide problems, like water, food & energy. There is enough wealth in this world that if that wealth had been used appropriately, instead of being hoarded & hidden away in tax havens, our society would have found innovative solutions to water conservation, growing food for the growing population, & new & sustainable ways to power our homes & factories. But much more severe problems like pollution, food shortages, & water shortages will not only becomes much more severe in our future (they already are with whole continents like Australia & US state, California, suffering severe droughts) but much more violence & chaos is awaiting us when a huge majority will finally grows tired of their respective governments & take arms against rich themselves. It will be the French revolution on a worldwide scale.
---------------------------------------------------------------------------------
The wealth of the average American household declined between 1983 & 2013, according to a leading economist.

 
Writing in a paper entitled Household Wealth Trends in the US, 1962-2013: What Happened over the Great Recession?, Professor Wolff claimed that America's worth rose partly because technology has improved & productivity has increases.
 
This means that society as a whole has become better & generating wealth.
 
The issue, for many, is that this extra wealth has been funnelled into the top 20% of the population, with the top 1% finding themselves 82% better off. However, the bottom 60% has become poorer, Vox.com reported.
 
Wolff found that the median wealth figure for middle-income families - that means it's been adjusted for inflation - for 1983 was $78,000 & the median wealth figure for 2013 was $63,800.

No comments:

Post a Comment