This single stat shows why the wave of socialism is only growing

Guest Post by Simon Black

Every so often throughout history, the peasants grab their pitchforks and come for the elite. It happens when the wealth gap grows too extreme… when people feel like they are getting left behind, with no opportunity to advance.

Central banks around the world have printed trillions of dollars over last decade, and pushed interest rates to zero, and sometimes below. And all of that stimulus went directly into the pockets of the wealthy.

Since 2009, the world’s billionaires more than DOUBLED their combined wealth. All the billionaires in the world had $3.4 trillion in 2009. By 2017, they amassed $8.9 trillion.

Mark Zuckerberg multiplied his wealth almost 20 times over, from $3 billion in 2009, to over $58 billion in 2019.

$8.9 trillion is a massive, almost incomprehensible amount of wealth.

But it really shouldn’t be that surprising if you think about it… these people are wealthy for a reason. Typically, they are pretty good at making money. And with the snowball effect, if you give them more time, they will probably make even more.

For the last ten years, we’ve seen a huge asset price inflation in everything from the stock market, to bonds and real estate, and even fine art and wine.

But if you’re a wage earner without assets, you’ve been left out. Wages and median household wealth have stagnated.

And this is a global issue…

The combined wealth of the poorest half of the world–3.8 billion people–fell by 11% just last year, according to Oxfam, a group working to alleviate poverty.

The New York Times claims the richest 8 people on the planet have more wealth than the poorest 3.8 billion.

And Forbes says the 3 richest Americans have as much wealth as the poorest half of the country’s population.

People feel trapped, like they have no path to prosperity. They see money thrown around by the government, and the rich. They see stocks and real estate boom… but where is theirs?

It’s this lack of MOBILITY that really gets the masses worked up.

3.4 billion people got poorer last year.  How many more stayed exactly where they were, or barely budged? The vast majority of the global population is the same or worse off than they were 12 months ago.

Meanwhile a tiny group got embarrassingly rich.

I’m not trying to sound like some radical, left-wing, social justice warrior. I just know that throughout history, whenever the wealth gap gets large enough, it corrects.

Sometimes that happens through legislation and sometimes it happens through violence. People demand that their politicians forcefully redistribute the wealth. And the politicians, always hungry for more power, are happy to step up to the plate.

We’re starting to see this in America today.

Last week we talked about New York City Mayor Bill de Blasio’s speech in which he said: “Brothers and sisters, there’s plenty of money in the world. There’s plenty of money in this city. It’s just in the wrong hands.”

What he meant was that the people who earned the money shouldn’t get to keep it.

Then there’s the new star of Congress, Alexandra Ocasio-Cortez. She supports hiking income taxes up to 70%, providing free medical care, free college, a chicken in every pot and a unicorn in every garage.

And, of course, she blames capitalism for everything wrong with the United States… and says “it will not always exist in the world.”

Ray Dalio, manager of Bridgewater, the world’s largest hedge fund, is hobnobbing with the global elite at a Swiss ski resort in Davos. He says that among the attendees, the ideas of this 29-year-old freshman Congresswoman are actually taking root.

Nobel Laureate economist Paul Krugman thinks AOC’s 70% is too low.

Somewhere between 73% and 80% is the optimal tax rate he says. Under his plan, the government will graciously let you keep up to 27% of what you earn.

Unfortunately, the public likes what it hears.

According to Gallup, 51% of 18-29 year olds view socialism favorably.

Only 45% view capitalism positively. That’s down from 68% in the same age group just a few years ago.

And membership in the Democratic Socialists of America has swelled 7x just in the last two years.

Their candidates are certainly crowding the 2020 primary.

There’s Elizabeth “you didn’t build that” Warren. Bernie Sanders and his tens of trillions of dollars worth of promises for free-stuff.

Former Obama cabinet secretary Julian Castro is one Presidential contender who wants “free” two-year college. Like Bernie, he has also endorses Medicare for all, a government run socialized healthcare scheme.

Other likely contenders, Senator Corey Booker and Senator Kirsten Gillibrand, want a federal guaranteed jobs program to hand out cushy government job with benefits to anyone who wants one.

And now Kamala Harris is officially in the race.

Harris is a Senator from who will undoubtedly appeal to the socialist uprising. Already she endorsed AOC’s call for a 70% tax rate, and won’t rule out BANNING private car ownership to address climate change.

Her campaign slogan is “For the people.” And the campaign colors are red and yellow… just missing the hammer and sickle.

(Insert imagine of hammer and sickle)

All of these candidates want to take your money and redistribute it to the people who keep them in power. It is SO obvious what is going to happen next.

There will be more government spending that they can’t afford. More bureaucracy, more central planning…

As de Blasio said, he thinks people have a socialistic impulse which makes them want the government “to determine which building goes where, how high it will be, who gets to live in it, what the rent will be.”

And unfortunately the statistics are supporting this view.

These are the new socialist candidates for the presidency who all promise to take your money and do with it what they see fit.

But here’s the thing, none of this stuff works. Central planning doesn’t work. Bureaucracy doesn’t work.

It drags everyone down, and lifts up only the politically connected. We’ve seen it a million times before, across the world, throughout history.

Unfortunately, it seems like the trend of American socialism is picking up steam.

These Presidential candidates (along with a large chunk of American voters) are determined to turn America into yet another failed experiment in socialism.

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Glock-N-Load

1. Human Nature
2. Greed and Envy are related
3. If people no longer have the ability to hunt and gather (go ahead and laugh), they are enslaved to whatever system is in place
4. A healthy country/economic system has a place for everyone

Before anyone goes apeshit crybaby, ask yourself, what are you going to do when the poor have the numbers to vote what they want? Isn’t it better to have a place for everyone?

Hollywood Rob

Oh wip, how cute. You actually believe that votes are counted. I thought that we had all given up on that a long time ago. And I think it’s really cute that old Simon thinks that the filthy rich actually got their money by working for it. My god, what an arcane idea. Truly a comedy. Every single one of the people who got richer got that way by stealing their money. All of the people in Davos got rich by stealing their money. And they stole it from you. Well not you wip because you know better, but from me and maggie (he definitely doesn’t know better.)

But I do agree that every now and again you see the pitchforks come out. This year the color for pitchfork wielding is apparently yellow for those brave enough to stand up to the criminals. That wouldn’t be any of y’all, but for those in France, yellow is the color of freedom.

icutrauma11
icutrauma11

It’s not that people have a socialistic outlook. It’s that they are tired of carrying the extremely wealthy on their backs. Would any of these billionaires even exist if there were only 25% of the people on earth. Extreme question to show how there existence relies on poor people becoming more impoverished. Republican or Democrat people are physically and emotionally tired of not being happy or satisfied in life and knowing your descendants will be more miserable under a heavier and unjust yoke. What happens to hungry starving wolves…fences and barriers are no longer a factor, fear no longer exist. Those exhibiting such destructive narcissistic greed exhume mouth watering scent of prey.

Anonymous
Anonymous

TAKE IT FROM A CUBAN BORN,PRE-CASTRO IMMIGRANT.You are ABSOLUTELY correct ,except after ALL is said and done EVERYONE(including the poor) loses!!!!!! I am not a socialist sympathizer but your right, something has to be done about this monetary inequality.Or we could be looking at another Cuba or Venezuela!

Pequiste
Pequiste

It shall not be “Socialism” irrespective of what these people officially tell you personally or the at-large global Lumpenproletariat. The combined efforts of the political puppets, career civil-servants, mouthpiece media; under the direction of the Evil Fuckers, is to usher in a completely Godless, if not utterly Satanic, Techno-Totalitarian Corporatist World State.*

Who wants to go to the Bohemian Grove and Davos? Raise your hands. HA HA HA. (Michael Blooomberg, Mark Suckerberg, and Eddie Lampost, among a host of necromancer nabobs, sneer at your enthusiasm to join him and their bizness partners.)

The bastards get to keep their private islands, castles, jets, and mega-yachts while their tools get to have some very nice toys with a short leash. But it is the rest of everyone; probably seven billion, that will have Mac and Cheese and like it until the Demonic Ones operationalize the program posted on The Georgia Guidestones.

*Lumpenimbeciles love their Oscars TM; Stupor Bowl TM; and Hip Hop too much to move off of the couch, let alone pick up an implement to make a statement.

(Have to give the Muzzies credit at least for that much: they are not afraid of personal sacrifice for direct action.)

grace country pastor

“…utterly Satanic, Techno-Totalitarian Corporatist World State.”

That, exactly. Get out while the getting’s good.

Peaknic
Peaknic

So you are saying that the expanding wealth gap will be rectified either by violent uprising or legislatively, but you are totally opposed to solving the issue legislatively by increasing the ‘marginal’ tax rate (i.e., only on income beyond several millions per year). So you’d rather your children be murdered in the chaos that will follow a violent uprising? Sometimes you need to carefully consider the negative consequences of maintaining the status quo.

Keeping only 27% of the investment returns on your accumulated capital beyond a few million per year is not going to destroy you. You are still keeping more money than anyone could reasonably spend in decades. Also, unless you are 100% invested in your own business, you are not “earning” the returns on your capital investments.

I also think no one should be able to inherit more than a few million dollars. I understand and support giving your kids a leg up if you can, but tens of millions or more is just teaching them that they don’t need to do anything to be prosperous, totally destroying any motivation to lead a productive life. We don’t need any more idle rich.

I liked one of Trump’s campaign ideas from the 2008 election where he proposed a one-time wealth tax on the top 1% to make a significant dent in the National Debt. Unfortunately, the numbers since then have gotten so large, even that would not make more than a dent now.

We’ve tried letting greed win over civic responsibility for the last 4 decades and it’s been a total failure from a societal perspective. If we could just get government out of the way of entrepreneurs and stop mega corporations from controlling markets, we might be able to tap into the incredible people of our country to find new solutions to our problems. The status quo is a guaranteed losing strategy leading to a violent end that may be much worse than even now.

BB
BB

Meatballs when are you and everyone ( besides Peqituse ) going to understand this is a BAPHOMET driven world and He will get his One World Government so he can genocide about 6 billion of us. You know how I know this Meatballs ? Cause Christ is going to allow He to build his kingdom on Earth.( For awhile ) Says so in the little book of Revelation . You might want to read it once you take a break from Wand building. With my guidance you could really make something of yourself .Even BAPHOMET will need engineers.

Hollywood Rob
starfcker
starfcker

Great post,Peaknic

rainbird
rainbird

We don’t need any more IDLE poor, either.

IluvCO2
IluvCO2

What we need is real free market capitalism, which is not at all what we have now. Government-Corporation collusion cronyism now rules all and markets cannot work. There is nothing wrong with real capitalism:

Chubby Bubbles
Chubby Bubbles

“Real” capitalism cannot get blood from a stone.

Boat Guyn
Boat Guyn

I have always viewed capitalism positively however since 1913 and the introduction of the Federal Reserve and its fractional banking system creating currency out of thin air with no backing and destroying the wealth and buying power of the majority of the US population we have crony capitalism . This only benefits the few and the connected not the general public .
The cry for higher minimum wage is the end result of economic stagnation for the majority of America’s population .
If the minimum wage kept up with inflation a product of the Federal Reserve that the office Of management and budget lie consistantly about it would be between $21 & $25 dollars per hour . Now comes the real BS , you want a hamburger fries and a drink cost $10 bucks , wake up it does !
Add the endless wars to help cover up all the lies and deceit generated by the Circle Jerk Of Wall Street to K-Street to Capitol Street and supported by the bought and paid for MSM and you get 100 MILLON Americans unemployed or grossly underemployeed and hanging by an economic thread . To the Mitt Romney class of venture capitalists you broke it you own it and soon you will choke on it .
This recent government shutdown should be a clue DING DING DING , the tax base that supported all these federal state and local government jobs has been raped pillaged and plundered so to keep the balls in the air we as a nation borrowed to infinity and now we are all screwed . To vote a budget means to borrow more and more with no end in sight .
Patrties over everybody out of the pool !!!

Chubby Bubbles
Chubby Bubbles

Capitalism is a Technology, in service to thermodynamics, which allows bringing future consumption and asset-stripping into the present better than any other system. The faster you consume-build-burn-destroy stuff (MOAR GDP) the better entropy likes it.

That is not to say that other forms of economic or political or religious organization are slouches, exactly, at this build-stuff-in-order-to-destroy narrative. But capitalism and its impossible promise of infinite growth on a finite planet has them all beat so far, which is why it has been #winning!

Winning, until the fossil-fuel punch bowl is taken away. Whether you like it or not, capitalism can only exist in an expanding system. We don’t have an expanding system any more.

WestcoastDeplorable
WestcoastDeplorable

I think Trump will win again in 2020 and after that good luck! This will most likely be a very different country by 2024.

Anonymous
Anonymous

I’m not sure the so called rich are making as much income as you presume.

A buyer of their stock assumes a certain valuation. And because it goes up , it is assumed that the owner made income on the shares he possesses.

Baseball players make 30 million a year. By the same token a business with a PE ratio of 20 or 5% would be valued at 600 million.

I think you Commies better think this one out. How do propose taxing assets?

starfcker
starfcker

Down the barrel of a gun, hopefully

Hollywood Rob

Mous, you clearly have no understanding of the stock market at all.

starfcker
starfcker

“are determined to turn America into yet another failed experiment in socialism.” Okay dickhead, so what you’re saying is, those same people should be happy living in our failed experiment of capitalism. What a bullshit argument. Socialism is not our problem. Oligarchy is. People like you are soulless shills for those oligarchs. My, my, my, you must be cheap to own

22winmag - Q is a Psyop and Trump is lead actor
22winmag - Q is a Psyop and Trump is lead actor

Zuckerberg, Musk and the rest of them are all fake-CEO, fake billionaire, manufactured people straight out of the laboratories at Langley.

Their net worth is $0 if and when their contract gets cancelled.

Wake the fuck up Simon and stop furthering the silly notion these personalities are real and tangible.

http://mileswmathis.com/zuck.pdf

Rdawg
Rdawg

Pi=4

Anonymous
Anonymous

“I think historians when they look at this time, they’re going to wonder why the wealthy overplayed their hand like this….Why would they, when they had it so good? They had the middle class voting for the politicians that the wealthy bought, everything was running just fine, they were posting profits of a billion a year, but that wasn’t enough for them….What they did was started to ruin the lives of the very people who voted for their politicians and supported them all these years, the middle class” (Michael Moore)

Michael Moore: Historians going to wonder why the rich overplayed their hand

(I guess I clicked the wrong thing, accidently posted as Anonymous, signed MarshRabbit)

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