Posted on 04/02/2016 8:31:45 PM PDT by Rockitz
Several months ago, a chart produced by one of the Big Banks was presented to readers . It was supposed to be innocuous data on global wealth distribution, but instead portrayed a horrifying picture.
The focal point of the aforementioned article was that when it came to “the world’s poorest people,” the Corrupt West has now produced a greater percentage of severe poverty in its own populations than in India, and an equal percentage of such poverty as exists in Africa.
Stacked beside this, we see that when it comes to the richest-of-the-rich, the Corrupt West remains in a league of its own. Supposedly, we are living in “the New Normal,” where life is supposed to get increasingly harder and harder. So why does the New Normal never affect those on top?
Of course all of these extremely poor people being manufactured by our governments (as these regimes give away our jobs, destroy wages, and eviscerate our social programs) have to come from somewhere. Certainly they don’t come from the Wealthy Class.
Indeed, the chart above provides us with a crystal-clear view of where all these poor and very-poor people are coming from: the near-extinct Middle Class. In order to manufacture hundreds of millions of impoverished citizens in our nations, the Old World Order has had to engage in a campaign to end the Middle Class.
We are conditioned to consider economic “classes” within our own societies, but with the chart above, we’re given a global perspective. Where does the Middle Class exist today, globally? At the upper end, it exists in China, and to a lesser extent, in Latin America and other Asian nations. At the lower end of the Middle Class, we see such populations growing in India and even Africa.
(Excerpt) Read more at sprottmoney.com ...
Salient quote:
“Globalization was rammed down our throats in the name of “free trade,” the Holy Grail of charlatan economists.”
Trump gets it.
"Jeff's academic background inlcudes four years of economics, along with a law degree obtained from the University of Biritish Columbia in 1989. Since then, he has published about 1,000 commentaries on mainstream news and precious metals Web sites around the world."
Ain’t diversity grand !
I was just reviewing a chart of global incomes.
America if I believe, just came in one step (below) Taiwan, and was way down in the ratings.
I’m sorry I didn’t save that, but it was quite shocking to me. We are rapidly losing ground, and NOBODY is standing up for America.
bump
He does indeed. Death to the uniparty. Go Trump!
We make ourselves poor with consumer debt and bad financial decisions.
We’ve got a lot of help from the government and big banks.
We make ourselves poor, by buying a bunch of imports.
We need to buy stuff from Americans.
Stop sending American jobs, to China and everywhere else.
Yes. Conventional wisdom notwithstanding.
What about the millions in decline who are not in heavy debt and didn’t make bad decisions?
Those in government has failed Americans in every direction, all while spending tax dollars like a drunk lotto winner. This isn’t even debatable. Btw, the banks love creating debt slave$.
what is the middle calls?
If we live in the south is no where what the NE makes.
how about blue collar workers who are just fed up of the corruption of the elected officials and ivy league lawyers.
middle class
What is the middle class?
Those were the mid income folks who not too many years ago who had secure jobs, benefits, retirement pensions, medical was not a big issue for most, they were able to raise families, take vacations, invest, buy new cars, homes... Things like that.
Those living in “poverty” in the US have more security than those in the middle class. What they don’t tell you is that poverty stats don’t count non-cash government benefits. People could be getting housing, food stamps, free ed and meals for the kiddies at school, free medical care, subsidized or free utilities, and even a free phone and it isn’t counted as income. I’m wondering why anyone bothers to work unless he or she can make 50K or more a year.
Free trade is part of the problem but so is taxes and regulations. There are other factors as well including the destruction of white property wealth due to declining neighborhoods.
The whole article is based on hiding what that chart is really showing. The 5th decile — median income — globally is $1225 per year, and plainly the chart is counting earned income only and ignoring government benefits or there would be nothing in North America at the bottom end.
Not only the super-rich and the rich, but the entire American middle class and the American “working poor” are in the top blue lump. The bottom blue lump is people on welfare or disability. The chart is not fine-grained enough to tell anything about American economic class. Being in the middle of the global income distribution in North America (whether the US or Canada) is not called being “middle class,” it’s called being dirt poor.
But hey, the stock market keeps going up. Aren’t they all such geniuses? They sure are! QE 1,2, and 3 are not enough. Neither are 0% interest rates for the fat cats. How about negative interest rates? That way, the rubes have to take their money out of their savings and put it in the Ponzi scheme markets. And if they don’t, we’re going to charge them for having their own money in the bank. Brilliant!. And when it all collapses, the Government can seize your IRA and 401(k), because the food stamps have to keep flowing. Oh by the way, the derivatives implosion will have to be paid for with your savings. And the Republican Congress passed that. That’s right. Look it up.
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