Posted 1 year ago on Dec. 15, 2015, 7:15 p.m. EST by agkaiser
from Fredericksburg, TX
This content is user submitted and not an official statement
Not right away. But it's been picking off the poorest and/or drastically shortening our life expectancy for millennia. It's already significantly shrunk the middle class, especially in the past thirty to forty years. It will eventually, if not corrected, get the ninety percent of people who supply the labor that does the real work making real products that feed, clothe and house everyone. Final answer: YES! Concentration of wealth will kill us all! The first symptom of the disease manifests as a shrinking middle class.
The middle class had been shrunk in the forty to fifty years leading up to the great depression. There'd been quite a few panics and recessions in that period too. The Roosevelt recovery and the resulting post war boom rebuilt the middle class and brought it and the nation as a whole to the greatest prosperity the world has ever known. Conservatives were appalled that any but the rich masters had it so good. They see our freedom and well being as a threat to theirs. We see the results of their reaction playing out as the middle class shrinks and poverty grows today. What rich capitalists are free to do in America would be illegal in a sane world.
The freedom of the psycho billionaires and banksters [and their pampered ministerial CEOs and politicians] to avoid taxation and to dictate our work and pay; to make debt slaves of the overwhelming majority, is perverse. But conservatives don't see that. They foolishly conflate their own desire for freedom to make their own way and profit by their own hard work with the freedom of the masters to coerce us to work for the profit of the elite class and to train us to falsely believe that's our choice. And so far that programming, conditioning and training of the general population works appallingly well.
If it's suggested that we tax the rich to slow the concentration of wealth or, heaven forbid, even take back a little of their hoard so that we may have life, many, I repeat, conflate their own petty incomes and comparatively tiny [negative in most cases] net worth with the massive extortions of the ruling elite parasites. Any common sense solution is then rejected by a "thought" process that we've been conditioned to undergo in response to radical ideas like doing something to save our lives.
Why must investment concentrate wealth inexorably? An excerpt (condensed) from "How Does That Work: A View ..." explains it.
"In a hypothetical casino card game the house takes 5% of every pot. If 10% of the money at the table is on average played on each hand, then the house takes 0.5% of the money in the game on each rake. After 200 hands, 100% of the money that is on average at the table has been taken by the house. The only way the game may continue is to have new money come to it. The winners, of course, smell the new blood and even anticipate it greedily. And the biggest winner over a time is always the house. Until the free market ideologues took over, the biggest difference between a casino bank and finance was that the gaming house took a bigger cut of the handle."
Compound interest operates on the economy just like a Casino card game. When investment profits are reinvested and generate more income, profit is compounded just like the interest on the money they loan us to live and which is, today, the preferred investment vehicle. In the end, they must have it all and we have nothing but debt as they loan the profits back to us and "earn" even more by the sweat of our brows. And if you think we chose this, you're an idiot!
"How Does That Work" https://www.createspace.com/3852916
> "We can have democracy in this country or we can have great wealth concentrated in the hands of a few, but we can't have both." - Louis Brandeis