Wednesday, March 30, 2016

Mike Whitney — Is This Class Warfare?

Is there a conspiracy to keep wages from rising or is it just plain-old class warfare? 
Check out these charts from a recent report by Deutsche Bank and see what you think….
Do you really think that this relentless upward waterfall of money to uber-rich tycoons (“95% of income gains from 2009 to 2012 went to the top 1% of the earning population”) is a mistake, that it’s merely the unintended consequence of well-meaning monetary policies that were designed to spur lending and strengthen growth but, by pure happenstance, backfired and triggered the biggest redistribution of wealth to voracious, do-nothing plutocrats in history?
Is that what you think?
Not meritocracy and just deserts based on marginal productivity?

You don’t need to be Leon Trotsky to figure out what’s really going on here. Heck, even Warren Buffett nailed it when he said, “There’s class warfare, all right, but it’s my class, the rich class, that’s…winning.”
Is This Class Warfare?
Mike Whitney