Friday, January 30, 2015
Barry, My Liege:
The numbers are in and it ain't pretty.
Rich people are jerks, plain and simple. Scientists have proven it.
The science is discussed here: [http://www.sfgate.com/bayarea/article/Psychology-studies-suggest-rising-wealth-means-6039481.php]
But, to anyone who has followed the discussion, this is not news. This space reviewed Chrystia Freeland on Plutocrats on October 21, 2012
['Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else', by Chrystia Freeland]
The trouble is that great fortunes hurt the rest of us by their very existence.
Simply being rich is bad for everyone, even if the person does not behave badly.
The wealth accumulation creates evil in and of itself.
Bad behavior just makes it worse, but good behavior cannot ameliorate the bad effects of great wealth.
And, the wealth concentrations are getting worse while they expand around the globe.
According to the UN, the richest 1% of the population now owns 40% of all the world's wealth. [http://www.theguardian.com/money/2006/dec/06/business.internationalnews]
This divergence is not sustainable.
At some point, violent change will occur.
The conclusion is inevitable and clear - The world will be better when the great fortunes are destroyed.
The destruction may happen with legislation or it may happen with blood.
But, it will happen.
This space has made a point of discussing the phenomenon of excessive wealth in a variety of subjects.
Here is a sampling of some of the statements made in this space in the last few years:
'Tax havens: Super-rich 'hiding' at least $21 trillion', published 7.21.12
'Recovery : Great Fortunes, Great Incomes' - How wealth reduces growth, published 5.18.2012
'Recovery : Monopoly, Revised with 2002 data', How monopolies inhibit growth, published 5.7.12
'USA Existential Crises: New Prince Class, National Security' How US superrich threaten USA middle class, published 4.20.12
'USA Rebellion's Coming' Our situation today is analogous to the situation [REBELLIONS] in England in the 14th Century, published 4.6.12
'Structural Difficulties with Recovery' According to the St. Louis Federal Reserve Bank, the share of total GDP acounted for by wages and salaries - that is where consumer demand comes from - was around 51% between the late 1940's and about 1969 when it peaked at 53.5%.
Since that peak, it has declined steadily until it stands at a low 44% of GDP today. Published 2.20.12
'Will the USA Collapse?' Some other civilizations which have collapsed, published 1.9.12
'DC Crony Fascism' How the US ruling class appoints cronies and damages the country, published 1.2.12.
'The Real Problem With Banks' Bankers are human - some of them steal, published 11.4.11
There have been other statements in this space as well.
Your faithful servant,