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Tag Archives: inequality
How Runaway Inequality Creates Runaway Global Warming
How Runaway Inequality Creates Runaway Global Warming The bottom half of humans own next to nothing, but they own as much as the world’s richest 80 individuals do, because though the bottom half are poor, there are 3.79 billion of them. The average person among the richest 80 owns 45,750,000 times as much as does the average […]
How Central Banks Widen Wealth and Income Gaps
How Central Banks Widen Wealth and Income Gaps The Federal Reserve’s latest Survey of Consumer Finances, according to Federal Reserve Governor Brainard, shows that the share of income held by the top 1 percent of households has risen from 17 percent in 1988 to 24 percent in 2015, and that the wealth held by that […]
What’s Driving Social Discord: Russian Social Media Meddling or Soaring Wealth/Power Inequality?
What’s Driving Social Discord: Russian Social Media Meddling or Soaring Wealth/Power Inequality? The nation’s elites are desperate to misdirect us from the financial and power dividethat has enriched and empowered them at the expense of the unprotected many. There are two competing explanatory narratives battling for mind-share in the U.S.: 1. The nation’s social discord […]
Observations on Wealth-Income Inequality (from Federal Reserve Reports)
Observations on Wealth-Income Inequality (from Federal Reserve Reports) There’s a profound difference between assets that produce no income and those that produce net income. To those of us nutty enough to pore over dozens of pages of data on wealth and income in the U.S., the Federal Reserve’s quarterly Z.1 reports and annual Survey of […]
Here’s You and Here’s the Top Ten Percent
Here’s You and Here’s the Top Ten Percent In a nutshell, here is a graph that summarizes everything you need to know about the unsustainable US economy. Unless you’re in the top ten percent of income producers in the nation — or, at least, living in their neighborhood — you are living in a dingy […]
Low Interest Rates Subsidize Wealthy Households
Low Interest Rates Subsidize Wealthy Households When the economy begins to sink into recession, politicians, mainstream economists, policy wonks, and the Federal Reserve begin beating the economic stimulus drum. Politicians, however, disagree over the type of stimulus to implement. The center-left party proposes greater expenditures on public assistance programs. The center-right party supports permanent tax […]
The Koyaanisqatsi Economy
The Koyaanisqatsi Economy KoyaanisqatsiThe film Koyaanisqatsi was released in 1982. The title means ‘life out of balance’ in the language of the Hopi, a Native American tribe who live(d) mainly in what is now north-east Arizona. It is directed by Godfrey Reggio with music by Philip Glass and cinematography by Ron Fricke. There are no […]
Why Governments Expand the Gap Between Rich and Poor
Why Governments Expand the Gap Between Rich and Poor QUESTION: Mr. Armstrong; You said at your Frankfurt the ECB policy of negative interest rates is actually creating a wider gap between the poor and the rich. Could you elaborate on that comment? Thank you. Hop you come back to Frankfurt. You do realize that you get […]
How Central Banking Increased Inequality
How Central Banking Increased Inequality Although today high levels of inequality in the United States remain a pressing concern for a large swath of the population, monetary policy and credit expansion are rarely mentioned as a likely source of rising wealth and income inequality. Focusing almost exclusively on consumer price inflation, many economists have overlooked […]
Why We’re Doomed: Our Economy’s Toxic Inequality
Why We’re Doomed: Our Economy’s Toxic Inequality Anyone who thinks our toxic financial system is stable is delusional. Why are we doomed? Those consuming over-amped “news” feeds may be tempted to answer the culture wars, nuclear war with North Korea or the Trump Presidency. The one guaranteed source of doom is our broken financial system, which is […]
If We Don’t Change the Way Money Is Created, Rising Inequality and Social Disorder Are Inevitable
If We Don’t Change the Way Money Is Created, Rising Inequality and Social Disorder Are Inevitable Centrally issued money optimizes inequality, monopoly, cronyism, stagnation and systemic instability. Everyone who wants to reduce wealth and income inequality with more regulations and taxes is missing the key dynamic: central banks’ monopoly on creating and issuing money widens wealth […]
Want to Understand Rising Wealth Inequality? Look at Debt and Interest
Want to Understand Rising Wealth Inequality? Look at Debt and Interest “Governments cannot reduce their debt or deficits and central banks cannot taper. Equally, they cannot perpetually borrow exponentially more. This one last bubble cannot end (but it must).” I often refer to debt serfdom, the servitude debt enforces on borrowers. The mechanism of this […]
The Root of Rising Inequality: Our “Lawnmower” Economy (hint: we’re the lawn)
The Root of Rising Inequality: Our “Lawnmower” Economy (hint: we’re the lawn) This predatory exploitation is only possible if the central bank and state have partnered with financial Elites. After decades of denial, the mainstream has finally conceded that rising income and wealth inequality is a problem–not just economically, but politically, for as we all […]
“The Game Is Rigged”: From Luxurious Lake Como Villa, Finance Professor Admits “QE Adds To Inequality”
“The Game Is Rigged”: From Luxurious Lake Como Villa, Finance Professor Admits “QE Adds To Inequality” While attending the ultra-exclusive Ambrosetti Workshop, University of Chicago finance professor Luigi Zingales took a few minutes to discuss income inequality in an interview with Bloomberg. We were delighted that the irony of being at a luxurious villa on the shores of […]
Why we have a wage inequality problem
Why we have a wage inequality problem Wage inequality is a topic in elections around the world. What can be done to provide more income for those without jobs, and those with low wages? Wage inequality is really a sign of a deeper problem; basically it reflects an economic system that is not growing rapidly enough […]
