According to a piece by Tyler Durden on ZeroHedge, a massive wealth gap is emerging in America.
New figures from the Federal Reserve indicate how the entity has widened the wealth gap throughout the pandemic via its notorious quantitative easing program. Indeed, the level of monetary stimulus has been extraordinary and it was justified on the grounds of keeping the economy propped up during the Wuhan virus lockdowns.
Durden notes that the result of this central bank intervention has been a “K-shaped” recovery, which has been “disproportionately affecting low-wage service workers and households of color, while billionaires, cent millionaires, and millionaires added record wealth.” Central bank intervention has been great for stocks and asset prices, while those who are not asset owners have been forced to get by in the present-day instability.
Last week, Swiss bank UBS and accounting firm PwC released a new report documenting the level of wealth that the world’s 2,189 billionaires have accumulated thus far. In July, that number reached $10.2 trillion, which overtook the $8.9 trillion record reached at the end of 2017.
Easy monetary policies, in combination with the economically debilitating lockdowns have only made these disparities worse. According to Fed data, the top 1 percent of Americans are worth $34.2 trillion, whereas the poorest 50 percent, which is approximately 165 million people, have a net worth of $2.08 trillion. This is less than 2 percent of all household wealth in America.
The top 50 wealthiest people in the U.S. have a net worth of $2 trillion, per the Bloomberg Billionaires Index, which represents a $339 billion increase from the beginning of 2020. Elon Musk most notably saw his wealth increase from $75.6 billion to $103 billion.
Durden provided an overview of how massive the asset ownership gap is in America:
The wealthiest 1% saw their wealth erupt earlier this year as they own about 50% of all stocks and mutual funds. The top 9% own about a third of stocks, which means the top 10% of Americans own about 88% of stocks.
Policymakers need to start talking about the impact that central banking has had on America’s political economy and overall distribution of wealth. The Cantillon Effect, whereby money printing and the resultant price increases creates uneven effects throughout the economy. Those who profit from this effect are individuals close to the money — major corporations, banks, and investors. These actors receive loans and proceed to invest, while the rest of the population doesn’t receive the newly printed for the time being and must readjust to the rising prices that come about as a result of the money printing. This dynamic needs to be brought up more in economic discussions. There’s a time and pace for talks about deregulation and tax cuts. But these measures are not enough to stabilize America or protect its middle class. A return to sound money is needed.
VIDEO: A Tired-Looking Hillary Clinton Shills for ‘The Great Reset’ Agenda at Globalist Forum
Did she run out of adrenochrome or something?
A recently recorded video of failed presidential candidate Hillary Clinton, who looks like she missed her most recent appointment for a fetal-cell spine injection, shows the two-time loser shilling for “The Great Reset” agenda.
Although Clinton does not mention “The Great Reset” by name, she endorses the technocratic socialist agenda that is obscured by the term.
“We’re going to have to take a hard look at how we can better frame how the markets work so that we begin to move away from the shareholder-centric approach, from the short-term returns that practically every business CEO that I’ve ever worked with, or talked with, has said, you know, distorts the market,” a demonic-looking Clinton said at the 2020 New Economy Forum hosted by Bloomberg.
“I think it’s time to look at what can make capitalism market operations work much more effectively and, frankly, equally to help build a real economy by shifting some of the incentives and assumptions that have grown into the system over the last fifty years,” the ghoulish former secretary of state added.
Her clip can be seen here:
— Bloomberg New Economy Forum (@neweconforum) November 18, 2020
Big League Politics has reported on the many globalist operatives who are endorsing the Great Reset as a way to permanently transform society while the world is gripped with mass hysteria over the COVID-19 scamdemic and destabilized due to media-promoted race riots and migrant invasions:
A leading globalist elite closely associated with the World Economic Forum has openly predicted that the world will never return to a sense of normalcy that existed prior to the coronavirus pandemic. Klaus Schwab made the concerning claim in his new book, “The Great Reset.”
“Many of us are pondering when things will return to normal,” wrote Schwab in The Great Reset. “The short response is: never. Nothing will ever return to the ‘broken’ sense of normalcy that prevailed prior to the crisis because the coronavirus pandemic marks a fundamental inflection point in our global trajectory.”
Schwab went on to predict that human history would be differentiated between an era before the pandemic and what comes after. He likened the historical event of the coronavirus pandemic to the birth of Christ, a peculiar slight to Christians who view the life of Jesus as an event quite unlike the spread of a disease.
“Radical changes of such consequence are coming that some pundits have referred to as ‘before coronavirus’ (BC) and ‘after coronavirus’ (AC) era. We will continue to be surprised by both the rapidity and unexpected nature of these changes – as they conflate with each other, they will provoke second-, third-, fourth- and more-order consequences, cascading effects and unforeseen outcomes,” writes Schwab.
In addition to being a longstanding patron of the globalist WEF’s yearly Davos gatherings, Schwab was a steering committee member of the Bilderberg Meetings. He was listed as an “international” member of the Bilderberg group’s executives, despite being a German national.
Managerial elites have spoken in open terms about their plans to redistribute the private property of average people to megacorporations and governments, compel the public to eat insects as a replacement for meat, and to gradually eliminate the use of personal automobiles.
Schwab staked out his vision of digitized corporate dominance of society in a recent speech given to the World Economic Forum.
If the vote steal against President Donald Trump is not overturned, the world is looking at a thousand years of darkness with all of these satanic elites on the same page ready to put the boot around humanity’s neck forever.
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