Thursday, Jan 15, 2015

How 40 years of financialisation enriched the few and made debt-serfs of the many

Counterpunch: 40 years of economic policy in one chart

Lots of charts from the US over the past 40 years showing how government policies (QE AND other policies) have enriched the 1% and made debt-serfs of most of the rest. Obama's record in this regard is worse than GWB's. No wonder FTB age is increasing. (NB - The chart 'The wealthy own most financial assets' isn't properly labelled - it shows the proportion of shares owned by each wealth quintile (dunno why the bottom quintile owned so much in 1989).

Posted by icarus @ 03:09 PM (2763 views)
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5 Comments

1. hpwatcher said...

That's the wonder of the ''ruling class'' that we have in the west. Completely out for themselves.

Thursday, January 15, 2015 03:15PM Report Comment
 

2. icarus said...

Shows how this ruling class has changed when you look back at FDR's definition of fascism in this article and you consider that Churchill was a fan of LVT on the very simple grounds that landlords shouldn't be rewarded for infrastructural improvements at the expense of the community.

It's sickening when you listen to BBC 'News' about Russia, Syria, Iraq, Ukraine etc. and hear them giving the spin of this US ruling class on its own depredations and geopolitical ambitions out there.

Thursday, January 15, 2015 03:46PM Report Comment
 

3. icarus said...

'undertaken at the expense of the community'

Thursday, January 15, 2015 03:47PM Report Comment
 

4. hpwatcher said...

It's sickening when you listen to BBC 'News' about Russia, Syria, Iraq, Ukraine etc. and hear them giving the spin of this US ruling class on its own depredations and geopolitical ambitions out there.

Yes, makes you realize how daft they are in following someone else's nonsense.

Thursday, January 15, 2015 06:08PM Report Comment
 

5. debtserf said...

But, but....trickle down wealth? Great for the economy as a whole that the rich get richer...and richer. Right?

Financial deregulation for the top, financial repression for the rest of us. What's not to like.

Friday, January 16, 2015 02:01PM Report Comment
 

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